 How to deal with creditors when credit cards were used by wife w/ mental illness? |
| Any legal advice would be very much appreciated. My wife has mental illness (major depression, OCD & PTSD) which causes her to be very impulsive about spending and lying. She is receiving ... |
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 Any really good ways to make money online without paying first? |
| Im a student and was looking for some ways to make a little extra cash! Any good sites for this? Also I live in Ireland so they have to be ones which allow Irish citizens to work!... |
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 I found a credit card and used it.. please help me!? |
please help me..
i was so stupid
i found a credit card and used it
small amount..
i know it's still really bad
please
help me
what do i do
i ... |
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 What will happen if I refuse to pay my credit card? |
| They have upped my finance charges to where I can never pay it off anyway. My minimum payment (which I now cannot afford) would only serve to pay for now huge finance charges every month. What is ... |
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 The credit card company made a mistake and made my balance $0. Do you think they'll catch it? |
Last month, my balance was $701.27. I made a $100 online payment. Now they say I have a zero balance. Pretty cool, huh?
Additional Details
Stuart- How did I commit a crime here? I made ... |
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 Can applying for a credit card improve my bad credit and increase my score? |
| I have history of bad credit, but over the past 4 years I've improved greatly. What can I do to improve my credit rating and score?... |
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 Credit Score In Toilet But No Negative Information? |
| Just got new mortgage on house. Credit score in May was high 680 (not great ut not horrible). Went online to check score last week and now at 560!! No negative credit information whatsoever. No ... |
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 I just used my credit card for the first time, I want to pay the $200 of at once but people say i shouldn't? |
They're telling me it builds credit if I pay montly and on time. My question is, as long as it gets paid, who cares? Should I pay monthly or what?
Additional Details
I just don'... |
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 Is it true that bad credit scores can keep you from gettting a job? |
| There's a credit score commercial and they said that bad credit scores keeps you from getting a job. What in the world? That's like discrimination of some sort. How do you improve your ... |
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 Is it true that credit cards were rare 30 years ago? |
Were credit cards as common in the past as they are today?
If not, how was anyone able to buy anything?
Looking on the boards, there's a lot of 16-20 year olds looking to &... |
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 If I die and have a large credit card debt, is any of my family responsible for the debt? |
Just wondering what happens when credit card debt gets out of control with elderly people and they pass away. Who assumes the loss???
Additional Details
I live in Texas.... |
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 How do you get a credit card to build credit, when you have to have credit to get a credit card? |
| I need to build my credit so i was going to get a credit card but in order to get a credit card you need credit so how can i get a credit card to buld my credit because i have no credit at ... |
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 Free credit report? |
I want to go online for a free credit report, but do not want a free trial, do not want to use a credit card. please can someone help me.
... |
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 Should i tell my girlfriend how much money i have in bank? |
| We been togther for 3 months and i have 40,ooo in the bank should i keep it confidental or should i tell her? The whole time i been with her she gets the impression i'm a hard blue collar worker ... |
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 How do i get a free copy of my credit report? |
| i want to do this without using a credit card and a free trial.... |
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warlick19 | I have no credit and got a credit card to build my credit and I am being responsible with it but? |
Is it bad or good for me to have 2 credit cards, i just use a little at a time and pay it off before its due, my cards are credit one bank and the other i applied for is capital one and its coming in the mail so is it bad to have 2 crdit cards with no credit score and will it help build my credit? |
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hellion210
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its fine. as long as you pay them regularly (i pay mine in full everytime so that i dont have to pay interest), you'll have perfectly fine credit, whether you have 2 or 200. |
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knpicone
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Credit is built by having debt and paying it back on a timely basis.
Two credit cards are fine. Just be careful that you don't get sucked in to the credit card world of applying every time you want
to get a discount. Your credit score (called a fico) is determined by the amount of credit and the way you pay. Most score on 12 to 24 months so it takes some time to build. Closing cards that you have had for a period of time but don't use often with good history can change your score because once you close you no longer have that history to score. I attached a link for you to veiw.
Hope this helps
http://moneycentral.msn.com/content/Banking/Yourcreditrating/P41876.asp?GT1=5734 |
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gemini_love_ca
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The sad fact is you can't get and build credit without using credit.
So long as you are paying your credit card payments (and other bills such as car payments, rent and utilities - YES those affect your credit score as well) on time, then you are building good credit.
Just be careful to not overextend yourself by spending more on the cards than you can afford to repay.
Also, a good tip is to pay the minimum payment plus a small amount. Minimum payments are calculated in such a way that by paying *just* that amount, you will eventually repay 2-3 times the amount you borrowed. In addition, depending on the limit on the card, it will take anywhere from 2 to 15 years to repay the debt.
By adding a small amount to each payment, say an extra $5-10 a month, you can cut the interest you're charged in half. Plus you will repay the debt in about half the time. |
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eclecticinwv
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Credit can be tricky. Yes, it can help establish credit: IF they report it and report it correctly! Check you credit report after 6 months. You are entitled to 1 credit report per year for free - just go into a credit reporting agency and they will review it with you. BE VERY CAREFUL TO ALWAYS READ ALL THE TERMS AND CONDITIONS - know how much interest and fees you are paying and what happens if you are late or miss a payment - IT CAN UP THE INTEREST RATE DRAMATICALLY. Also, ONLY DEAL WITH WELL KNOWN AND ESTABLISHED COMPANIES- I recommend going through YOUR LOCAL BANK. IT CAN BE HELPFUL LATER TO HAVE LOCAL HELP IF YOU HAVE A PROBLEM. ALWAYS pay WELL BEFORE THE DUE DATE - ALLOW TIME FOR MAILING AND PROCESSING! One day can make the difference between 14% interest and 24% or more.
Good luck and God bless! |
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-*
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Grandpa once told me:
"If you don't have the money to buy it, you don't need it"
a lesson from a survivor of the great depression |
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maverick_dude
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Per my friend the loan officer, never have more than 40% of your card limit used up. Per TransUnion, however, never use 35%. It shows that you are responsible with yor credit and do not urgently need another card because you filled up the first one. Just pay them on time and wait maybe 6 months or so, then check your credit score again to see what the improvement is. |
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stork5100
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Two is the perfect number of credit cards to have.
To keep your credit in good standing, make sure the combined credit limit is within your means, and pay off you entire balances each month. |
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perfectlybaked
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It depends on your credit limit. If you have no job then a $100 limit is probably the most practical.
Anyway, the best amount of credit to have is an amount when, if maxed-out, can be paid off in about a year.
A limit to your credit cards is good because it's too easy to splurge on clothes and other items that are really expensive... |
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Angela B
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Building credit involves using only what you can afford. If you are able to pay off your bills each month, it is good. Also, if you make a larger purchase, make sure you pay it off over time but on a regular, reliable basis. Another way to build credit is to rent a car or get involved in rent-to-own merchandise, and make all of your payments on time. |
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juliatn1
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In terms of credit scores, there isn't anything wrong with having several credit cards (within reason). The most important things are to NEVER pay it late or let it max out - some credit scores are based on the balance to limit ratio. In terms of general life lessons, the most important thing is never to use it to buy something you can't afford to pay for immediately. This is the way most people get into financial trouble. |
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AOMGMC77
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Actually 2 credit cards are better than 1, just dont' get a 3rd.
Keep doing what you are doing. Paying off each month is the best way. However if it does start to build up, just make sure the balance you owe is always less than 50% of the total credit limit you are alloted. This helps keep your DTI (debt to income) ration low, so that when you need to apply for a loan (car, house, etc) you will have a better chance for approval and probably a better interest rate.
They will help your credit score as long as you continue being responsible with them. |
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fcas80
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Two credit cards will help build your credit history.
Keep up the good work using the cards and paying your credit card bills when they are due. |
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happyscrappycat
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two cards is not too many. You have to realize though that now you have access to more money and you can get more in debt. Just be careful not to buy so many things that you cant pay it back, thats how lots of people get trapped by credit, they use their cards to buy things and then all of a sudden they realize they can never pay it all back, then their stuck paying minimum amounts due and it takes forever to get outta debt, ok enough soapbox, just be careful. |
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missyej
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credit cards are a good way to build your credit.Two is ok, but make sure to keep payments up. as for me i would rather start with a bank loan or morgage. less interest. another way , put so much in savings then borrow that amount or a little less. let your saving stand good for it. when you get it payed off you will have good credit with that bank and also still have your money in your saving plus interest. if needed repeat the process. no matter how little or large the amount is. you come out ahead of the game. |
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laura468
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Yes its fine to have 2 credit cards as long as you pay them both and you are establishing good credit |
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FiveStarAuthor
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Hi there. Having 2 cards is fine. Just don't overdo it. When creditors look at your credit report and see that you have a number of credit cards with moderate balances, even if they are all paid on time, that can start to have a negative effect on your overall credit rating.
Why is that? Because there are numeric factors in figuring your credit score that actually SUBTRACT points for having too much outstanding credit. For example, if you have 2 cards with $1,000 credit limits on them, that means you could potentially go into debt $2,000 overnight. That's not much debt, but let's say you had 5 cards or 10 cards (not uncommon these days). Having that much potential credit card debt is almost as bad as having that much ACTUAL debt, because with a credit card, you can spend the whole amount anytime you want.
My advice is, use the two cards carefully and keep paying off those balances IN FULL each month. Your credit score will go up and up, making you a great credit risk when it comes time for you to buy a car or a home.
Oh, and once you get those first two cards, call the 800 number to OPT OUT of any further card offers. That way you won't be tempted to take on more potential debt than your income can handle.
Good luck!
FiveStarAuthor@aol.com |
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Loo
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Just be careful!
Yes it will help to establish a good credit history. Just don't over spend and make sure your payments are there on time. If they become late the fees will snowball and you will be in big trouble. |
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jen g
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It's good to have two credit cards as long as your paying them off on or before time. After you have had them for about six months your credit rating should begin to get better, and after about a year, with "good standing" you will be able to have near perfect credit. Just remember never be later. |
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Logan A
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Keep being responsible with your credit and your report will reflect that over time. Nothing wrong with two cards. Most folks with established credit have several. |
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sicboy
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Actually, as long as you keep your credit cards at a balance less than 80% of the credit limit, and make your payments on time you will continue to build your credit. However, it sounds like you manage to pay off the balances every month after using your cards which is even better. What you want to try to do is maintain a good payment history, as well as show that you have credit lines available that are not "maxed out". |
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mdjohnsonusc
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Typically having two credit cards will not be detrimental (one will get you about the same result though) Any more than 2 especially with high credit limits will hurt your credit. Never use more than 50% of the cards credit limit, that will also hurt your credit if you carry a balance. USe them then get home and mail the check and you should be fine. Resist the temptation to splurge |
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