 How do I establish credit? |
| I need to establish some good credit in order to get a loan for school. What do i do to get good credit to get approved for the loan?... |
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 Has anyone ever gotten an unsecured personal loan from speedybadcreditloans.com? |
| I've researched them on the internet and nothing bad comes up. In fact, a lot of websites say that sites like this require a fee (this one does) because they are acting as a middle man between ... |
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 How do i improve my credit score without doing the obvious (paying on time)? |
| there are two collections and a judgment on my report but they all show as paid.... |
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 My car got repo'd and auctioned!? |
| whats the best way to explain to my mother that i got my car repo'd when she's the cosigner? is there any possible good lie out there.. me and her don't keep in touch or talk much.. ... |
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 What to do if you have a summlons to come to court.? |
| i have a summons to come to cort because i have credit card debt.... |
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 1st Credit Card? |
| I am about to get my 1st credit card. Any suggestions having good credit?... |
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 I took out a $5,000 unsecured loan and only needed $2,000 of it..? |
| can you pay these off early.. i would like to make a 3,000 dollar payment as my first.. is this cool.. if so will the interest be charged on the whole thing regardless.. thx for your ... |
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 Debt Collection Unfair need advice Badly!!!!? |
| i have had an account past due with citizens bank for 3 years i was put away for awhile and was unable to pay it. i owed 538 dollars. well 5 months ago i have been receiving calls from NCO about ... |
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 I have terrible credit from a reposesion when I was 20 years old, I'm 24 now, I need to buy a house for my |
| family, my finace has ok credit mine is just terrible. I only owe 4 thousand but can't afford to pay it back. Whats the best way to rebuild my credit I feel like I'm holding my fiance back. ... |
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 Is it a good idea to close credit cards that I don't use at all? |
| Here is my situation. I have $7500 I owe on a 0% credit card that expires in March 08. I want to transfer that balance to a different 0% credit card in February to avoid finance charges. Also have ... |
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 No Credit auto financing? |
Ok, I'm 19 years old, live with my family, have an active checking and savings account. I work as a General Manager at LP Cleaning Service and make $3,500.00 per month before taxes.
H... |
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 22 years old and credit card company is taking me to court? |
| I was offered several credit cards when I graduated high school and started college at the age of 18. This card in particular offered a $4,000 credit line. I had no job and no savings, so I ended up ... |
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 Do you think a credit card is a friend or foe? |
I have two credit cards. do you think its an advantage or disadvantage for my lifestyle?
I'm working in a call center and I'm already regularized. I have a stable job already.... |
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 Hi, I have a really poor credit score along the lines of 530? |
I am currently paying off my debt, I would like to know if there is a faster way (along with paying my debt) of improving my credit score? I can't get approved for anything!
Additional D... |
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 How can I reset my credit?? |
Hi!!!
I've read in the past about companys who can reset your credit rating' however I am sure some of these are scams. I am 26 and am unable to obtain any sort of credit due to ... |
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 How many points are taken off for requesting a credit report? |
| I want to get a free credit report online, but I don't want to get dinged on my credit report. Does anyone have any info on this matter? T... |
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dinkydoo | I want to get a new car does my credit score have anything to do with that? |
i just looked at my credit report do i have to pay off these things before i can get a new car?? will paying them off get my score up??
Additional Details
ok i have 1 credit card for 242.00, then there is a sprint bill (339.00), an eye dr(80.00), and 2 i don't know what for.(469.00 , 125.00)
does that help?? these are the only things on my credit report besides my student loan which is current. |
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HumbleAdvisor
 |
Basically, if you are paying cash for the car then there's no need to check your credit, but if your are borrowing to buy the car, then yes, the bank, car dealers or whoever is funding the purchase will run a credit check. There's no way around it. Sorry. |
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r2mm
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There are shady car dealers out there who will lend to anybody. Your credit score will determine what you pay in interest. If you already have a car, try saving what you would pay for the car payments for 6 months to a year. Then you will be able to by for cash and not have to pay all that interest. |
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Jeni P
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paying them off will eventually, talk to someone whom works in that industry, but basically you need some good points, not just eliminating the bad....
yes, your credit score counts with new cars... |
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Serge M
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Paying off existing debts should improve your chances of financing the purchase of a car. It shows that you are a good credit risk. However, you do not have to pay off all your debts, you just have to make sure they are kept current, with no late payments.
You do not say what kind of debts you have. If they are credit card debts, it is best to pay them simply because such debt carries high interest rates. Also it is best to carry debt no greater than about 20-25 percent of your available credit. That is, if you have a card with a $5,000 credit limit, you should not carry a balance of more than about $1,000 on it. It looks bad if you max out your credit cards. |
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Peaches
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It only maters if you plan to finance (get a loan) or lease your vehicle.
There is no way to quickly increase your credit score. |
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SPIFIMAN1
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Auto finance is what I do for a living and auto loans are based on the following factors;
1. LTV (loan to value).
2. Term of loan.
3. Age of vehicle.
4. Miles on vehicle.
5. Down payment.
6. Time on job.
7. Time at residence.
8. Monthly income before taxes.
9. Credit score/profile.
10. Total debt to income ratio.
The actual factors of your credit score are as follows;
1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio.
Nothing else no matter what anyone says factors into your credit score. Jake simply does not know what he is talking about.
Depending on how all of the above is submitted to the lender you may or may not be approved and you may or may not need a co-signer. |
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Spock (rhp)
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with no further information, how can anyone answer?
you have to be able to make the payments -- usually judged as total payments are less than 34% of total income.
after that, credit score affects the interest rate you'll be charged, not whether you'll get the loan -- the new car companies all need desperately to sell cars |
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Jake
 |
4 factors drive your credit score.
1. Length of time in credit history
2. Potential debt burden and utilization.
3. Recent Derogatories.
4. Inquiries in last 12 months.
Then there are four criterias in approving a loan.
1. Affordability
2. Creditworthiness.
3. Stability.
4. Fallback (collateral)
Since this is a car loan there is a fallback and since the loan is secured by the product it mitigates much of the risk.
If you pay down the debt it decreases the utilization and thus makes your deal stronger. Paying off the existing debt facilities though may help your deal but is not the only factor in the new car loan. |
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vpireprncss
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yes.. |
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