 What does the word derogatory mean on a credit report and how does it effect a FICO score? |
i noticed that my fico score went down
Additional Details
it is an account that i am paying off in a settlement for $50 a week. I send letters with every payment dated and signed asking ... |
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 If i were to break my lease for my apartment would it affect my credit and/or my mother who co-signed? |
first off i do care about my credit and my mothers that is exactly why im asking the question in stead of just doing it.
I moved into an apartment in august with my new husband. we have ... |
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 Bad credit question? |
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 How can I improve my credit so that I can get approved for 30k unsecured loan or line of credit? |
| My income is 60K/yr, FICO score 675, 50K student loan in good standing, visa credit card with 3000 limit 3 years old always paid in full on time, 2 old collections reading paid in full on my c. ... |
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Ted | How would you be affected if your credit limts were reduced? |
According to the article linked to below, one analyst thinks that the credit industry is poised to reduce the liquidity of the American consumer by 2 trillion dollars through credit line reductions. Has this happened to you? Would it change your life if it did?
http://news.yahoo.com/s/nm/20081201/bs_nm/us_finance_research_oppenheimer |
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SPIFIMAN1
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So far not yet, but even if this does happen it will not affect me since I pay off all 3 of my cards in full every month. |
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hanora
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I wouldn't be affected at all. My limits are many times what I use and I pay my credit accounts in full each month. In fact I wish that they would stop increasing my limits. |
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Miss Honesty
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i think thats a great idea. if my credit limit was cut down my life would not bee affected in any way. bc i live within my means. no one should be buying groceries on a credit card. i buy what i need and i save what i can. if i happen to need something then i will wait until my next paycheck to get it...i dont dip into my savings for it. people dont know how to be responsable which is why there are so many people in so much friggin debt. its ridiculous. they dont understand that the worse their credit is- the more money theyll wind up having to pay. deposits. down payments. interest etc everything! so i personally will not be affected and think the only ppl who will be are the ones who cant buy things they dont need anyways..
p.s. i have 2 credit cards with $5k limits. one card is interest free for 1 year and i usedf $1k to treat myself and have cut it inhalf already. $100 bucks a month and its paid off in 1 year. this way- i am building my credit and enjoying the pleasure of interest free shopping. the other credit card i buy gas with and pay it off in full every single month. my credit is amazing and continue to reap the benefits of it. :-) |
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Judy
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If they reduce my limit to $100,
I would simply write them a check for 3,000, they will instantly increase my credit limit.
/ |
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Spartan
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I actually read that article as well this morning; it's interesting you brought it up on here. It has not happened to me with any of my cards yet. It would not change my life as I only use one card per month (and rotate it each month) to purchase gas or groceries. I pay the entire balance before the due date and do not carry balances from one statement to the next.
I can imagine this would severly hurt a lot of the US public if this does unfold that way. |
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*~*~*
 |
I would be okay, right now I have several cards, all with over $2000 limits, and for the most part I have not carried any balance whatsover.
Getting into a car accident and missing over 2 weeks of work has really put me behind though, but I'm doing what I can to get back on track. Hopefully will be back to my full payments by March or so.
So I think reducing my credit line would not really affect me, right now I am barely using all the credit I have anyway, I was actually thinking of calling and decreasing the limits myself so I'm not even tempted to use them.
I think it would be a good idea though, for other Americans, as long as it was not a dramatic decrease that would leave them hurting. It would certainly make people think twice about spending more than they earn, and that is a good thing! |
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Kevin R
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I only have portfolio debt, mainly. A credit card debt of 3500 +-. So, no it wouldn't change that much for me. It will crush the stock market. |
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kristin
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i would be in big trouble, so would a lot of other people. we all need to change this economy . i read that article...very upsetting |
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Southern Belle ☆
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Nope, mine are maxed out. |
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