 What happens if I pay more then my balance off on my credit card? |
| I had a balance of £450, and transfered £650 to pay it off instead....what happens to the £200 surplus??... |
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 Should I cosign on a car for a friend who is willing to pay me? |
| A close friend asked me to cosign on 70K car for 4 yrs. And she going to pay me 3k on the day that its purchased. But Im a little worried about the deal even thou I really need the money. I know that ... |
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 What trouble would a person be in if they did not pay for a credit card.? |
| My freind has become very ill with a mental illness and is on a very small pension and has offered the company what she can afford and they will not accept it and keep calling her and harassing her.W... |
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 How good of a mortgage rate can someone get for having an excellent credit score? Over 800? |
| I recently got a quote for a 30 yr. fixed rate mortgage of 6.75% and was wondering if that was a good rate considering I have an excellent credit score. I simply thought it would have been lower, and ... |
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 How can I help my GF eliminate her debt??? |
Basically, I just want to know how she can be helped. Paying the monthly min is really high right now. She said it was like $480/month which is really killing her.
I had thought about D... |
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 My brother has a bad credit rating, how long will it take to make it better? |
| He has been paying all his bills and debts on time and not defaulting on payments for the past three months, how long will it take for him to qualify for credit again?... |
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 I owe $709.99 for what? |
| I got a paper from a collection agency today for some... I don't even know what it is or who it is or what they do.. company, saying I owe them $709.99. I have NO IDEA what it is. Never even ... |
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 Can an auto loan actually help your credit if you make all your payments in full and on time? |
| I am currently 19 and a half and I got a credit card the day I turned 18. I pay off all my balances immediately and I would potentially have a perfect credit score if I had a longer credit history. ... |
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 I am being sued by a credit card company for about $2,200 but can't afford to pay them. What should I do? |
| I have a court date on the 14th of this month. I thought they would just write this amount off but was served with court papers today. Any suggestions or advice would be greatly appreciated... THANKS!... |
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 Most useful advice you've ever learned about $$$? |
This question is to fokes young and old, so please anwser? Thank you!
Additional Details
I, personally think the most useful advice i have ever learned about money was to alway balance ... |
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 Where can I get a loan with bad credit and no home to secure the loan? |
| My credit is in bad shape due to the marriage I was in, dose any one out their know any way to get a loan with poor credit and no home to secure the loan. I want to start a new life and get my ... |
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 How the heck do I get out of debt??!!!? |
| I don't know what to do! Any sugestions would help!... |
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 A debt collector called today about a debt included in a bankruptcy 10 years ago. What do I need to do? |
| The collector called when I wasn't home. He answered my husbands questions about what he was calling about. They want me to call back and give the discharge # and lawyer's name. Can I be ... |
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 What helps your credit score more? |
| Paying off collections, or opening a new line of credit? I have medical bills in collections ... but qualify for a credit card. Obviously both would help the best, but it will take me a while to ... |
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 Is it possible to talk to my bank and ask for a lower payment in order to avoid foreclosure ?/? |
what are the odds of my bank giving me a lower payment in order to avoid going into default ??
My payments are $3100 per month, MY retirement is only $2000 per month , the money that I ... |
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 Can i use my Dad's credit card? |
| Ok so im going to be buying a cell phone (i already have one, but i want a new one). My dad gave me his credit card to do so, as i dont want to use bills to pay for a 300$+ phone, a cc is a whole lot ... |
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 I owe 6000.00 on my American Express Credit card and I dont have a dime to pay on it.? |
| I havent made a payment in 3 months and I dont know what to do because the money is not there to pay it. Please help. I am desperate. They are calling me like crazy and I need to know what is going ... |
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turbo_shagwell | Is going over your credit limit just as bad as making a late payment? |
I always pay my husband and my credit card payments on time. However, because both are close to the credit limit, a few times they have gone over the limit by a little bit because of the monthly finance charges. Does this hurt your credit score as much as making a late payment? My husband doesn't seem to think so, but I DO. We just tried to get a loan and they said we had "deliquent payments", however, we have never had a late payment, just gone over the limit. Is it the same thing in creditors eyes?? |
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Dave_Stark
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Not always. Many credit cards, if you have little or no balance and push the limit on RARE occasions for extraordinary purchases, will use that as an excuse to increase your limit.
But in your case, it sounds like this happens more frequently, and with the speed of modern financial transactions, being a day late hurts just as much as being a week late, or skipping a month entirely.
Used to be that you could write a check on Sunday, mail it on Monday, and it wouldn't clear the bank until Friday (at the earliest), or the following Monday. Now, if they get the check late on Wednesday, it clears your bank Thursday morning. Can't "float" checks any longer. And with more folks paying their entire balances each month, the banks are getting to be real pricks about late payments -- used to be if my payment was due Tuesday, and the check arrived Wednesday morning, they'd forgive the finance charges. Not so any more -- they want the interest money and screw the card user.
I recommend, if at all possible, that you start reducing your credit card use to bring those balances down as soon as possible. |
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KL
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Yes, it does. Being in the mortgage business I see this on a daily basis. Maxing out your credit causes your credit scores to drop. Not only that, but isn't your interest rate on the credit card super high because of it?
The best way to increase your score after this is to pay at least 50% of the card off, and stop using it. If you can pay off the entire thing, do so, just don't close the account. |
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okronbon
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Go to www.annualcreditreport.com . Go to one of three reporting agencies and look for yourself how everything you do affects your credit score. You get 3 free credit reports from the government a year - through this website (this is not a scam go look at the website). You can pay around 6.95 to see your actual score which is like 500-900 range and then they tell you what certain things you have done or are doing that affect your score. |
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Brian B
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No. It's not that bad for your credit score as long as you continue making your payments on time. Making a late payment is one of the worst things you can do to ruin your credit. That said, you probably want to bring those credit card balances down so that you don't have to pay additional interest above your normal rate. |
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JF of VA
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Listen, this is how it works. If you are ever more than 30 days late, it will affect your credit score. If you are more than 50% over your credit balance, it affects your credit score. If you are a slow payer, it affects your credit score. If you get credit counselling it is treated by the lender as if you did a chapter 13 bankruptcy. I am a mortgage loan officer so I know what I am taliking about. Judgements, collection accounts and BK's will all affect your credit score. Get a copy of your credit report from www.annualcredit report.com and see what is being reported. Ever hear of Pre-Paid Legal? If you need extra money and looking for a P/T job that doesn't take alot of your time check out my website at www.prepaidlegal.com/go/janicefmitchell. e-mail me at mitjan1@netscape.net if you have any questions. You will never have to worry about going over your credit limit again! |
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thedavecorp
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The delinquent payments may have come from the cards themselves - if you exceed your limit, whoever you were trying to pay didn't get paid.
So, IF you can be responsible, request a credit line increase, and ASK your representative what's what about THEIR policy and what gets reported to the credit bureau. Also, and I know it's painful, read the TERMS & CONDITIONS on your card - you have more rights than you think! |
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abenn09
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I dont think so, you might want to get a copy of your credit report. Sometimes there is a bill you didnt know about that got put on your credit. |
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Reaper King
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exceeding you credit limit shows creditors that you are or going to be strung out. it means to them that you can't manage your credit properly and are continuously reaching your limits. pretty mcuh everything yo udo or don't do hurts your credit. Credit is like a bully, no matter what you do to it it'll always beat you down. And when you're down, it'll spit in your face just for added measure. be wary. but there is always an opportunity to rebuild. |
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princswarrior
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Curious what you're paying your husband for. Thinking everything about him should be free being that he is your husband...... hmmmm......... |
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BUBBLES
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Yes, it does hurt your score to go over the limit... and your score is probably not great to begin with if your that close to the limit! I have no credit card dept but when I went to buy a car- my score was only meduim because they weighed in college loans, morgage and other depts you don't always think about.
I would sit down and talk to a finical adviser who can better tell you how to clean up your debt and your credit scores. |
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Rich Dad Fan
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No, going over the limit is not specifically marked on your credit report. It might show something like "1000 limit, 1050 current balance" but will never be marked.
Making a late payment is MUCH worse.
If your report shows "delinquent payments," then it will not be your credit card in that situation (if you've made all your payments on time). Delinquent payments are ones that have gone to collection agencies. Perhaps an old Dr bill that you haven't paid or an old phone bill.
Your best bet, of course, is to spend the $35 and get a 3-in-1 credit report which will show you everything, including what is helping and what is hurting your report and scores. |
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educated guess
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Going over the limit is bad, because it will continue to come up on your statement every month, like a cash advance. You just keep on and on and on with the payments but it never goes down...If you are not sure about the delinquent payments, look at your credit report and see what THE creditors show your records to be from their point of view... |
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gladys
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I think so.. |
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rhonda w sf
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MAKING LATE PAYMENTS ARE MUCH WORSE THAN GOING OVER THE CREDIT LIMIT. |
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