 Can a credit card company collect from me on a mispelled name? They spelled my last name wrong so am I free??? |
| I got a credit card in the mail a couple of years ago. Over the course of time I racked up a bill to the limit and fell a little behind in payments. Now I have a collection agency after me. I was ... |
|
 I owe a credit card and they are threatening to go into my account and take what I owe them? |
| They are threatening to use the account no# that I use online to pay their bills online, now I'm behind and they said they will just go in and get it; is that legal?... |
|
 Why am i being declined credit when ive never had it? |
| I have just turned 18 and keen to build my credit rating..I privately rent a property and have a good household income... I was advised to get a store card or credit card and pay the balance off ... |
|
 I'm being taken to court over a credit card that isn't mine, what do I do? |
| This company claims that I owe them 3K on a card I never signed up for. I asked for proof that it was mine, because I can't find any records of it with my other cards (all paid and canceled ... |
|
 About credit card limit ? |
| So my credit card limit is 500 bucks. Bank of America. Let's say I use up 500 bucks in one week, and I pay off my balance right away. Does that mean I will get 500 bucks limit again as soon as I ... |
|
 Received a letter from debt collection agency for old bill what should I do? |
| The bill itself is student overdraft which I took out in January 2003 the bank sold this to this collection agency (according to them) in 2006. I have so far made no contact, received the letter this ... |
|
 With bad or poor credit, can I get a home loan if I put down alot of $$? |
| In other words, would a bank look past my credit if I put down more than half of the price in cash??... |
|
 What happens if I'm approved for a credit card, abuse it, and never pay? |
| What are the legal consequences of this? the credit limit is $1,500.00.... |
|
 Should I co-sign a loan for my boyfriend?? |
| My boyfriend is having some finacial problems and we are working on buying a place of our own in the near future, but he has some out standing bills. Which need to be paid off. So he is able to get a ... |
|
 I have recently had a bankruptcy discharge. I want to buy a townhouse. Do I have a chance at all for a loan? |
| I have heard that there are loans for people out of bankruptcy, but I don't know of any company. Before this, I had perfect credit. I am desperate. I need some good advice. Thanks!... |
|
 Which is better 3 or 2 credit cards? |
My available credit on my credit cards are
$4,000 $1,200 $1,500
The one card I am using is paid in full by the due date. Should I close one? I am thinking of closing the $4,000 ... |
|
 Do you think i should file bankrupcy wheni was 15 my mother got alot of credit in my name about 20000 not mine |
People say report her but she is my mother and i think im just gonna file bankrupcy im looking for someone who has filed and what life was like after wards i hope that is enough info thanks
A... |
|
 My credit score is 627...? |
| I have never missed a payment on any of my credit cards but i have some medical bills that went to collections. With this score would i be able to get a car or a house some day. How does this compare ... |
|
| Would a child have bad credit when they grow up if someone used their information on bills? |
| My friends ex used his daughters social security number on a cable and telephone bill totaling up to about $1,500. Will she have bad credit when she grows up?... |
|
 I am a student who needs a car loan. I have good credit.? |
| My car was stolen and crashed, and insurance is giving me about half what I need to buy a decent used car. I am a graduate student whose source of income is student loans. I have great credit yet I ... |
|
 I have bad credit. Where can I get a loan ? |
Either a loan for $5000, or a consolidation loan for about $20,000. I have no assets, no security. Need a monthly payment I can afford.
I always gave in to my ex-wife's whims. Got ... |
|
|  |
BSMNYC | In regard to credit scores, is it better to pay off the entire balance or carry a small balance ? |
It was my belief that the best way for me to build my credit score was to pay off the entire balance of my secured credit card each month. but I've been reading that it's better to make a purchase then take 2 months (like half 1 month and half the next month). This is supposed to show creditors that i can really manage my credit. How true is this? |
 |
 
$m¤¤v¥ £¤¢¤
|
Everyone has posted their answer, so now I'll post mine.
This is what makes up your score:
1. Payment history- 35%
2. Total debt owed to avialable credit ratio-30%
3. Length of time establishing credit-15%
4. Types of credit established-10%
5. Inquiries and New accounts-10%
It can go either way depending on the balance that's carried. If you have a secured card, I'd suggest making small purchases and pay it off on time every month. This way, you show activity, and you keep all your available credit, since it's important not to use more than 25-30% of your available credit at any given time. The important thing is that you pay on time. Me myself, my preference is to completely pay off whatever I purchase every month. If I leave a balance, the balance would be no more than twice the the minimum payment. For example if I had a balance of $600, I pay $575, I leave a $25 remaining. The minimum payment is usually 3% of the balance which in this case would've been $18, so that would be allowable.
You mentioned that you have a secured card. Another thing that would help you would be to increase the limit by adding to the deposit. Higher limits create a cushion between the total debt owed and available credit, especially if you keep the balance paid.
Hopefully this will help, thanks for reading! |
|
rhonda c
 |
my credit score is 801 and I always pay the entire balance in full. |
|
mrliteman001
 |
really you are rated on your ability to make a steady payment. As long as you have no penalties pay over time...... |
|
Patricia J
|
Pay off the entire balance monthly. Don't fall for anyone trying to tell you you should pay installments, no matter how few they are. You are only paying a "service charge" for that privilege. Of course, someone is going to profit from this cockamamie idea -- and it won't be you.
Good luck. |
|
bdancer222
|
Pay the credit card balances in full. There is NO advantage to carrying balances. Credit card companies only report on whether you pay on time or not.
Use the card every month but only charge what you can afford to pay in full and on time every month. THIS will show creditors that you can manage your credit! |
|
rb_cubed
 |
Pay it off. |
|
funnyme
|
Pay it all off. When creditors see that you pay the full balance regularly, over a long period of time, they'll have the maximum faith in lending credit to you, and you'll receive the highest credit limits and the lowest rates--exactly what you want! |
|
Yeahhoo P
|
most important factor is the difference between the amount of credit you have used, and available credit. so pay off the entire amount each month, don't pay 1/2. You are just getting charged interest on the 1/2 you didn't pay off.
banks want you to believe you shouldn't pay it off because then they make more money off you. Don't carry a balance ever, it doesn't help your credit score. |
|
SAMD010
|
Don't ever expect your credit score to just "suddenly change" . . . It takes time . . . It matters not how much a balance you carry as long as you pay on time. If you pay off your Credit Cards then your Credit Card Company is NOT going to arrest you or something. They won't even do anything, in fact. Even if you pay off everything . . . Don't expect your Credit Score to skyrocket . . . It takes TIME . . . Time is the main issue . . . Not so much the balance.
T-I-M-E . . . |
|
Mikey Staten
 |
Carry a balance under 50% of your credit line. Using the max on a card hurts your credit. Basically you need to show you dont need to max out your credit cards and are able to make the monthly payement ON TIME every month. This will build you credit score. |
|
Nicki32
|
I think it's true. I've heard the same thing. Creditors go by on time payment history to evaluate your long term risk. |
|
Ang
|
Pay it off definately! |
|
lovingula
 |
interesting this i would like to know also |
|
Greenbay All the Way!!!!!
|
it is better to pay it off. The best way to do this is to use it once a month, but to always pay it off. The credit score is based off of available credit. |
|
Carl
|
Not sure about that.
The most important thing is to pay on time. If you pay on time your credit will go up.
If you miss payments your credit will never go up even if you only owe a small amount of money. |
|
Henry
 |
It's always better to carry a balance less than 25% of your credit limit than to buy something and quickly pay it off. Having some debt really does show that you can manage it, even if it does end up costing you a bit more in interest. |
|
▬♥ღcatnipღ♥▬
|
Pay it on time for 6 months, then pay it off, but DO NOT cancel the card. That hurts your credit score. Just let it sit happily in a drawer and don't use it! |
|
heybulldog
|
Definitely pay it off. Why would you wanna pay interest? Why do you need to obsess with the fico score.
All it gets you is debt.
You have to borrow money and make payments on time to get a high score.
You have to keep borrowing money and keep making payments on time to keep a high score.
you score shows how much you love debt.
It's based solely on debt.
How much debt.
How long you have been in debt.
What kind of debt you have.
How often you make payments on debt.
Banks spend millions brainwashing people into thinking they need a credit card and a high Fico score to make it in todays world. Not true.
Pay as you go. Live on less than you make and you will have money.
The only time you might need to borrow money is for a home. You can do that without a fico score. It's called manual underwriting. It's not a sub prime loan. it's the way it was done before the I love debt score. You can get the lowest rates going. |
|
jmorritz
|
You need to carry a balance for six months before anything will be reported to the credit agencies. They want to know that you can steadily make payments each month, which is what most people do with their credit. If you pay it off every month, you get no interest charged, so that is not attractive to credit card companies.
I'm assuming you have a secured card because you have bad credit and are trying to build it, so it is absolutely necessary that you carry a small balance every month. You can't listen to all of these people telling you to pay it off, that it's the most important thing they look for, etc. Sure, it makes sense to us, and thats how they would like it to work, but I can promise you that it doesn't. If you have no balance, then NOTHING GETS REPORTED, so you're score won't improve. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
19 | 20 minutes(s) ago
| | | |
19 | 36 minutes(s) ago
| | | |
18 | 53 minutes(s) ago
| | | |
19 | 2 hour(s) ago
| | | |
19 | 6 hour(s) ago
| | | |
19 | 7 hour(s) ago
| | | |
19 | 9 hour(s) ago
| | | |
19 | 11 hour(s) ago
| | | |
19 | 1 day(s) ago
| | | |
17 | 2 day(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
