 How drastically does an auto loan affect your credit? |
| I just got one for 54 months the payments are very reasonable and its set up as an allotment so it automatically comes out my paycheck and I don't have to worry to much about anything. I'm ... |
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 Cheques or no cheques? |
| Are cheque books becoming obsolete, went to buy an item in PC world, but was refused , said cheques were unexceptable...Credit card or go somewhere else...I realise that the Country went to the dogs ... |
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 How bad is it to use a credit card? |
| I only have two credit cards. One is for Macy's and has no balance on it, the other is a Visa and it has a credit limit of $3,100. That one has only about $150 credit left on it. How bad does it ... |
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 Credit Card w/ late payments? |
I opened a new credit card account 07/2005 with MACYS, 09/2005 I stopped paying and now that Im monitoring my credit score I see it's status which is (120 days late, Late by 4 payments)
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 I have a friend that is wanting to get a personal loan for $2500-$3000. She does have bad/poor credit.? |
| Is it possible for her to even get a personal loan for that amount and if so where/what is the best recommendation for her to apply that's legit? Where could she try and how fast would she know ... |
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 I'm like 10G's in debt, what is a good credit counseling company? |
| I was young and stupid and got myself in debt, i haven't paid it off because i was unemployed. I currently got myself a part time job and want to start to fix my credit. Does credit counseling ... |
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 Can I get a loan for $100,000? |
| I make about $25,000 yearly. I am 22 years old, have been at my job for 18 months. I have no debt except for a medical bill which is about $200 a month. My car is paid off. My credit score is ... |
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 How good is a FICO score of 732 for a 23 year old? |
Additional Details
someone asked about what loans and CCs i have had etc... I've had....
4 loans, all paid off, 0 late payment
4 credit cards, all paid off, all ... |
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 How do i get a credit card? |
| I just turned 18 not long ago and i want to get a credit card to build credit but no place will give me one because i have no credit what do i do?... |
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 Creditors can take your salary? |
| If you have credit cards you owe, can they take money from your salary before you even say how much or if yes? Do you have any say at all? Does your job say yes or no?... |
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 Do i have to call the 1800 number on my temporary card to activate it? |
My bank gave me a temporary debit card the other day and it doesnt work I was wondering did i have to call in and activate it?
Additional Details
i have a pin ... |
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 Will I be able to raise my credit score by doing the following? |
| I just had a question. About 3 months ago I tried to apply for a loan to get a house. However, my credit score was around 560 at the time, so they were asking for a 10,000 down payment and to hire a ... |
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 I have one of the lowest credit scores possible! Where do i start to fix this major financial obstacle? |
| Im hopeful that someone here can point me in the right direction. I have two civil suits against me and some other negative info from old credit cards that I never paid off. (from college) I am 26 ... |
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| I need a personal loan!?!? |
| I have bad credit. But I still need a personal loan. anyone know of any lenders that will give me a loan?... |
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KiNG⋆LATiNO | I want to buy a new home in January do I have enough time to apply for a new credit card? |
I want to boost my credit score up to 750+ I keep hovering around 744, 745, and I can't pay off much of my debt. I thought by expanding my debt to credit ratio I could boost my score. I have two credit cards with 25k$ max each with no credit debt only student loans.
Additional Details
Cant pay off my debt because its all in student loans -- its too much to pay at once. |
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OC1999
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If you already have 50K open on credit I would not open another credit card. Yes it would improve your ratio because it gives you more to spend and MAY improve your score. But it could also lower your score in the short run because of the inquiry and new account that you received. The score is NOT the only thing creditors look at, especially when purchasing a house. They will look at your Potential to get into debt. If you have 50K open, your score may be high, but they may feel you are a high risk because if you max out the 50K would you be able to pay it off.
Instead you should look at keeping activity on these cards. Purchase things that you would normally pay cash for each month, then at the end of the month pay off the balance to avoid interest. This will show activity on your card and in 5 or 6 months could increase your score by several points. The other thing you need to be sure you are doing is verify that your report is correct with the big 3 credit reporting agencies(TransUnion, Experian, Equifax) Lenders will pull all 3 so if you only have the score for 1 you need to get the score based on the other two reports also. |
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asn156
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by applying for another card can boost you debt to credit ratio. But you have to weight this against having another card with no activity on it. It is counted against your credit to have inactive credit cards. You are better off staying with what you have, the mortgage rate you would be getting from a 750 instead of a 744 is not signaficant, you can always refinance when you make timely payments on your after a year which will boost your score more and can save you more money in the long run. good luck! |
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laneramadonna
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Better to get a bank secured loan.
Put $400 into a savings account. Come back a week later and request a secured bank loan against the account.
Take the $400 loan and open another savings account at another bank. Come back a week later and request another bank secured loan agains the amount in savings.
Three and a half weeks after taking out the first loan, go pay it off in full. Then do the same with the other account before 30 days due.
Pay loans off in full. Do it again at another bank. Only use the money to open savings accounts and get secured bank loans. 3-4 times is enough.
Bank loans are hard to get. When time to buy your house in January, your credit will reflect 3-4 bank loans paid off in 2007 in full.
Your credit score will look like caviar. Trust me. |
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kthor
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don't apply for new credit ..pay as much as you can to your student loan 1st .. applying for new credit might lower your score for a few months |
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hailey
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errr um,. .obtaining another card could also drop your current rating
more than like what will help your score is a debt to income ration reduction
good luck |
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Robin C
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Opening a new account will lower your score and not raise it. If you do not owe on the credit cards, close the one you’ve held for the shortest amount of time.
Your current scores are pretty good. You should be able to get a good interest rate.
Remember to get pre-qualified before you start to house hunt. Keep in mind that most lenders will approve you for more than you are really comfortable with paying. Plus, when making an offer, the sellers will want to see a pre-approval letter. What I’ve done in the past is to tell the bank how much to pre-approve me for, since you should know right now how much you want to put down, and how much of a payment you want. Then when you submit an offer, the seller doesn’t see that you can afford a lot more than what you are offering. In my experience it makes the negotiations go smoother.
Good luck! |
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JQ
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Your credit score is just fine where it is. Don't get a new card, it will lower your score. Your debt-to-income ratio is what drives your purchasing ability at this time. It sounds like you will be fine, if what I am reading is correct: You have two cards that have limits of 25K each, but no debt on them? If you want to try and improve your score, close one of them (get a confirmation in writing).
More questions, let me know, if not - happy house hunting! Start now, it may take a while to find a house, and at least a month for closing, typically. |
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jackie s
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i believe getting another credit card will affect your score everytime you open a new account - credit card, bank account checking or savings, loan ect... it lowers your score. you have a great score i would not mess with it. unless someone can do it in there name dont open anthing in yours. and dont let anyone check into your credit score either that also affects your score |
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