 How long does it take to get negative items off your credit history? |
Do they just disappear after a certain number of years? I've heard that and never knew. I actually don't have any on my credit, thank God, but I'm just curious.
Thanks. =)... |
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 I have run into financial trouble this year, and collection agencies are threatening me.? |
| Do collection agencies normally file judgements and if so, are they mostly on larger balances, or do they just normally carry them as collection items? I have one or two credit cards that the ... |
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 How long after I pay off my debts will it take to improve my credit score? |
| I have about 12000 in debt that I will be paying off once I sell my house. I am probably about 5 months behind on payments. How long after they get their money will it take for my credit score to ... |
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 I overdrew on my checking account any suggestens? |
| I had overdraft protection but my bank took it away from me because of deluncancy, i thought I had it re-instated but tehy inturpreted me calling them for a new card as if I just wanted a debt card. I... |
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 I pick up a credit card? |
| I pick up a a Lowers credit card yestday (July,19 2006) and I do not who belongs to. sould i keep or give it back?... |
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 Are there any free paid survey sites for 13 yrs. old and up?? |
| are there any free paid survey sites for 13 yrs. old and up that don't use points but cash instead??and that are not scam??..and for free??... |
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 Should I file Bankruptcy or Not? |
| I have a total of $10,000-$13,000 unpaid, charged off, bad debt in total. This amount is for Bally's fitness, Phone bills, small credit cards, small medical bills, unpaid rent, department store ... |
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 Will it affect my credit score despite of paying over credit bill the next day? |
| I have seen my credit card bill today which went 3 pounds over my credit limit and i have paid some money instantly within 2 hrs of statement period , so will it be affecting my credit score?... |
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 How do i get my credit card company to cancel my debt? |
| i owe $16000 on my 4 credit cards all with chase and cant even make my minimum payment on any card. i lost my job and my wife is 2 months pregnant and i need help. i called a credit ... |
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 Is it possible to deposit a check that isnt yours? |
| I recently sent out a check to my credit card's bank. Its been about a week and I have yet to see an update on my online statement saying that they received it. For peace of mind, is it possible ... |
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 Cosmetic Surgery-NEED HELP PLEASE!!!!!? |
| So I tried to get financing through Capital One and was told no. Is there any other way to get the procedure done? If I was denied for this one, does that mean I can't get it done? Are there any ... |
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 When you marry someone with a poor credit history, can you avoid having your own credit ruined? |
| Our son is preparing to marry a girl who owes about $3500 for medical care. It's been on the books for more than a year, she hasn't been able to pay anything on it, and she has elected not ... |
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 $16k in debt--Solutions? |
| Hi! My husband and I have about $10k in debt split up through 5 credit cards, and personal loan for about $6k. However, we do own a home with a mortgage of only $100k, and are making payments on a ... |
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 Ryan is with another girl so what do i do so i can stop them cause i really love them? |
| see i was with him for a very long time and he just broke up with me and got with another girl o what do i do.... |
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 Can I get a Debit Card with a Visa logo on it at the age of 17? |
| I just wanted to know if I could open one up, and what I would need, if I can, to open it up. Thank ... |
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 Does this sound like a scam? |
(from craigslist)
I am satisfied with the conditions and price as stated. I will like to make payment to you through Money Order... The check will be drawn from my company account...The ... |
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whitney | I need some help with credit cards? |
Im 18 and I have no credit history. I want to establish some credit so in the future I can get loans for school or for a car. Is there a credit card that would approve me even though i dont have a credit history? I dont really get how they really work. I know you pay on them each month but how much do you pay? I know some have high interest rates, how do you know what a good interest rate is? Once you pay if off do you still have to pay on it every month even if you dont use it? thanks |
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STEVE S
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Hi Alexis,
At 18 years old you would not be expected to have a credit history, so don't worry about that.
Your first move in establishing a financial history is to open a bank account. Once you have a bank account, your bank can act as a financial reference for you (as long as you don't abuse your account.
Once you have a bank account, or if you already have a bank account, it is probably going to be easiest to ask your own bank for your first card. Before you get a card, it's usually necessary to have an income so you will probably need to be earning some money.
When you buy something using your card, the cost of the item is charged to your card account. When you get your statement, every month, your purchases will be shown. If you pay in full before the due date, you do not usually have to pay ANY interest. If you only pay part of the amount (there will be a minimum payment shown) you will have to pay interest because you are then using the card to borrow money from the bank.
Because interest rates are changing all the time and are charged on a daily basis they are hard to compare and difficult to explain. The best thing to do is find the APR (annual percentage rate) of any card available and choose the card with the lowest APR (unless there are other offers that make a card more attractive).
Generally speaking, avoid store cards. They can often only be used in the store that has issued them and they are usually MUCH more expensive than credit cards.
Once you have paid your card off you do not have to continue making payments every month. Some cards do have an annual fee which is charged to your account, so watch out for this. Sometimes card companies try to sell you insurance to cover lost cards or inability to pay. This insurance doesn't usually provide very good cover and , as it's calculated on your outstanding balance, can become very expensive. Think very carefully before agreeing to any insurance or services paid for on your card.
If you do get a card, try to pay the full amount off each month. Borrowing money on a credit card is VERY expensive. If you can't pay the full amount, pay off as much as you can afford.
If you want to borrow money for school or a car, you can do this through your bank, you don't need a credit card. I have two grown up children who have been financially independent for some time and neither of them has a credit-card.
Good luck. |
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Arbonne Linda
 |
When I first started to build my credit, I applied for department store credit cards first. My first one was Sears and also a gas card, like Exxon. I used each one once, for a small amount and paid the balance in full on my first bill. Then I applied for a bigger card, like Mastercard or Discover. Each month they send you a bill, if you owe them money and it shows you the minimum amount you can pay and the total balance. Always pay as much as you can each month to reduce the amount of interest you pay. If you don't owe them money you won't get a bill. Always make sure there are no annual fees! You shouldn't have to pay someone to carry their card. |
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mcdevitk
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You should try and get a credit card through a credit union, which are much more stable than normal commercial banks, and offer much better interest rates on average. They even offer programs to teach you about credit. Usually there is one associated with universities, if you are planning on attending. Also certain vocational tracks have credit unions associated with them, such as electrician's labor unions. Credit unions will give you a nice line of credit. My first card gave me a 3500 dollar limit, just out of highschool.
Payments: You must pay them each month, on time, and OVER the minimum payment if you want to do well. The minimum payment usually barely covers interest, and is typically about 25 bucks. If you ever plan to pay off your credit card bills, pay well over the minimum or you are setting yourself up for a mountain of needless interest-based debt.(Imagine paying 30bucks for that 6 dollar lunch you got a few months ago....BS!) Also it is usually written in the contracts that if you are late on or miss one payment, they are able to jack your interest rate up to very high rates, sometimes as high as 21%, especially for high-risk people (that'd be youngsters).
Once you pay it off, that should be it. BUT. Many cards have monthly or annual fees they automatically charge you so that you never actually pay it off unless you actually get rid of it. One of my cards charges me to even set up automatic bill pay, so that even paying it adds charges. Don't fall for something like this. Read fine print.
If you do get a card, I suggest setting it up to automatically pay a cell-phone bill or something, and not use it for much else. Pay the balance on time every time.
I built my credit through renting. This is a great way to build credit that doesn't have to involve going into debt. It puts you on the grid, as you must pay bills etc related to the address. A cell-phone bill can build your credit, too.
Loans for school are not based on your credit, but on the credit of your parents or guardians. You include their information on the FAFSA (Federal Application for Student Aid), and later you are offered PLUS loans through the university, which is a loan your parent must take out on your behalf. If this isn't an option for you there are Pell Grants etc. which take into account individual circumstances and need. This is also dependent on the information on your FAFSA. You don't have to pay back student loans until you leave university. Be warned, this can come into play even if you take a semester off. |
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PhiloKing
 |
You can almost certainly be approved for a credit card. I'd say a good interest rate for you would be around 10-14%. The interest rate doesn't matter much if you don't carry a balance. You can pay off whatever your put on your card (online) almost immediately to avoid being charged any significant interest, no matter what the interest rate. This should not be a problem, since you shouldn't be putting more on your card than you have to pay. So long as you don't pick a card with monthly fees, if you don't have a balance on it, you don't have to pay anything. I recommend trying to get approved for an American Express. They're taken by fewer merchants, but they're the most consumer friendly credit card company in existence. |
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R T
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Talk to your bank. Many banks will issue credit cards to people with accounts. They could also set up a "secured" credit card meaning that they would give you are card in return for keeping the money in your account if you don't keep the card paid up. This will look like a regular credit card on any credit report.
If you pay your card in full by the due date every month, you will not have to pay finance charges. That's a good habit to get into. |
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butterfly420☮
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Do you have a bank account? This is how I got my first card to build credit. When I got my job, I opened a bank account with a reputable bank, and they offered the card. And don't worry about the interest rate, because if you want it to build your credit, then you'll use only what you can pay off in full BEFORE the due date, thus incurring no credit. Just make sure there is no annual fee, and read all the info that comes with it. |
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saved_astronaut
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Yer best off 2 buy a good used car locally. i did, & there's NO liens on it & it's pd off. the best way 2 buy is from some 1 u know who worx on cars or @ least has them kept up. |
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Miles C
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Alexes, check out:
bankrate.com
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