 What's the best way to reduce credit card debt? |
| I know so many people say 'stop using the cards!'...but what if that's not an option? My credit card has turned into a monster.... over 17k and I only take home 13k a year. It's ... |
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 I paid off credit card ,lost comfirmation# and now they want more money,what now? |
| A collection agency called and collected on my card , I paid it off in full at a percentage off , and now they want the remaining from another company ,my husband lost all my paperwork and now I'... |
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 Can a company send my name to the credit agencies even though the £76 I owe them was due to their error.? |
| A company said I owe them £76 for a contract that I signed. This amount came about due to their own fault such as saying that the staff I dealt with forgot to sent some paper work to their head ... |
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 Does negative credit ever "fall off" your credit report ie 5-10 yrs.? |
| Is there a limit to the time bad credit such as charge offs, unpaid medical bills, credit card bills are listed on your credit report? I think there is a limit on the collection time but what about ... |
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 What happens with credit card debts not paid in a long time say more than 6 months?? |
| i got sued by one credit card - but worked out a payment to stay out of court. can someone tell me worst case scenario? can they garnish my wages if we go to court?... |
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 How can I improve my credit rating? |
| I owe lots of money toward bills(such as utilities) and credit cards. I just got a nice chunk of change from my tax return. How do I get my credit rating up without going broke? Or is it wiser to ... |
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 Will canceling the credit cards that I dont use affect my credit? |
| I have about 10 credit cards that I dont use anymore they are activated but dont have any balances and I was just thinking of canceling them but dont know if I should would that affect my credit in ... |
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 How does a credit card work?? |
| I applied and received my first credit card this month and was first affraid to use it due to my sis being in so much debt from hers. I finally had my first "emergency" 2 days ago where I ... |
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 Can anyone tell my if this is legal and how to get it off my credit report? |
I have problems with Midland Credit Management. They have never validated anything and yet continue to make entries on my credit report. Here they are--check out the new dates!
Two E... |
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 Trying to find out my credit rating? |
| My partner and i are going to get a mortage and we want to find out if our credit is ok as we have had trouble with it in the past,i was told you could contact a company and they would send you all ... |
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 Where should I get an auto loan online? |
What are some good and reputable internet sites that offer auto loans?
Additional Details
NOT auto insurance.... |
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 If you get declined for a credit card, does that affect your credit score negatively? |
| I was wondering out of curiosity because I was declined a credit card for being "out of the service area." I heard that it will show that your credit was looked into, but it wont decrease ... |
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indrep33 | How exactly does a credit card work? |
I want to apply for a credit card that starts out with a minimum credit line of $300. If I get it, it will be my first credit card. If I get the $300 credit, I want to make a purchase for like $200. Is this a good thing or a bad thing to do? Can someone give me some good tips on handling a credit card without getting bad credit?
Additional Details
I will mostly be using this card trying to start an at-home business. |
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Smartypants
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The best way is to keep the balence no more than 50% of the limit. If you go higher than the 50%, it will look like you have bad credit instead of no credit.
If you pay the first balence off that month or pay half this payment and half the next, the bank will be very happy and raise your credit limit.
You do not want to make only minimum payments. That will get in you into BIG trouble. They can raise the interest rate and it will cost you way more to borrow that money than you thought it would.
If you have to because of money issues, make the payment that is due a min amount and then make another payment that month that is double the min. That will show good faith to the company. After about 6 months, you can call them and ask for the interest rate to be lowered or a higher limit. |
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Waine
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you got some replies but here's some great reading, might take you a while though:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
if you get any luck please don't forget about me lol, hope it helped you! |
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Badger Fan
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Can you wait and save for the item? This is the best way. There are other ways to estabish credit. By the way, do you have a banking account, debt card, a job? All 3 are sources of credit. If a card is the best way to go, pay full and don't be late! 0% now, 29% once you are late!
Best way is still wait until you have the cash. Debts from credit cards is the main killer of this economy. |
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Rudecatt63
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Check the interest rates on the card you get.Some can be very high. |
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wwfcgoober
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The answer is to really pay off your credit card in full every time the bill comes in. If you only pay the minimum balance every month, this is where the interest rate is high. |
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Doe
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Using a credit card is a good tool to establishing creditworthiness. Yes, go ahead and use your card. The best advice I can give you is to pay it off each and every month. Most cards give you a 20 or 25 day grace period. If you pay off the balance, no interest or service fees get charged.
If you only make minimum or partial payments, interest and service fees will start accruing, and this can make a $200 purchase cost you $400 or more!
As you use the card and make payments every month, your credit line will increase. It's very easy to charge right up to the max. Keep an eye on what you have charged by accessing your account activity online frequently. You should be aware down to the penny of how much you owe at any given time.
Do not use your card to get a cash advance. The fees and interest are astronomical and can lead to trouble fast.
Another good choice for a first card is a "secured" card. This means you have $300 in a savings account before you are given a $300 credit limit. You can't spend more than you have that way. Secured cards are easier to get, and once you have had one for awhile, you can be bumped up to a regular card.
Good luck! |
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sexylittlemisstweetybird83
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well always make sure you make the minimum payments, because that shows that your wanting to keep your credit down. |
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old lady
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A credit card is something like a promissary note. When you give the credit card to someone, the bank pays that bill and you promise to repay the bank (or the credit card company if the card is not issued by a bank). That's why you have to sign the credit slip at the store, to show that you recognize that you are indebted for that amount.
The REALLY important thing to remember about a credit card is that, although the transaction is so easy, it has to be backed up by real money. And it is very important to be prompt in your payments. Otherwise you will find penalty payments added to your account. If you keep right up to date on the payments a credit card can work very well. Sometimes you have to keep track of your charges and pay them before you get an accounting from the company, because the contract says you have to pay the bill within 15 days or the interest charges begin, so if they only bill once a month, you are automatically going to pay interest unless you keep on top of your charges.
A well conducted credit card account also bolsters your private credit rating and before long, you'll be invited to take out a credit card with a $1,000 max, then a $5,000 max. The same rules apply. |
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godsimage74
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if you decide to spend 200, try to pay it off within the next two months after you spent it. if you can't pay off the bill within 2 months after you made the bill it can begin to become a problem plus you will start to accrue interest. That is about the only tip I can give. make sure you can pay off what you spent within the following 2 months. |
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ptlconnections
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Yes, you can use up the credit limit stated in your credit line. To keep a good credit record. Pay up your credit card monthly minimum payment on time every month. |
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babai_ib
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Kolkata: As another call centre employee comes under the crime radar, this time in Kolkata for a credit card fraud, we take a look at how it all happened.
Twenty-three-year-old Sulagna Roy has been accused of buying luxury goods worth $4500 using credit cards belonging to some US clients.
Now if you had the 16-digit credit card number, the three-digit CVC number at the back of the card, the date of expiry and the name as it stands on the card, it could be your ticket to buying virtually anything on the Internet.
That was Sulagna's ticket to conning the US citizens and buying white goods and designer outfits from an American website.
Though police claim the amount that she stole is not very big, it cost the company she works for a great deal of credibility.
Jayshree Infotech, which is part of the B K Birla group, is now struggling to explain to its clients how a fraud like this could take place.
The management had thought it had taken all possible precautions, but now feels there is perhaps no foolproof mechanism to prevent crimes like this.
The Chief Executive Officer of the firm, Rajesh Sarda, says the American website from which goods were being bought should have raised an alarm much earlier.
"Some sort of check and balance should have been there in the software. To detect that the shipment is going to take place in India but the card information is from the US. Now if some American wants to gift it to some Indian in India then again the IP address of the computer has to be in the US. It cannot be from India,” says Sarda.
For Jayshree Infotech, it certainly is a serious setback. But coping with it is perhaps not as difficult as providing tighter data security to its clients in future.
For Sulagna Roy, who has now been remanded in police custody for 12 days, it's certainly the end of the road. |
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