 I've got $60,000, what to do? |
| I've got $60,000~, I'm a sophmore in college, but not interested in academics at all and would like to pursue other interests. Is there something I could do with that $$$? Finance my own ... |
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 Question about credit card debt? |
Like many Americans these days I am having trouble paying my credit card debt.
The balance is $8,000 and I am having trouble making the monthly payments.
What is the best course ... |
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 Credit Card Advice? |
I'm 18 years old and beginning as a freshman in college in the fall..
Is there anyone out there that could recommend a hassle free good first credit card.
I just want to start ... |
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 Does it hurt my credit score to pay on my credit card more that 1 time every month? |
| I try to keep a zero balance. So, when I make a charge I pay it online usually the next day. Is this bad? Should I wait until the end of the month? --Thank You!... |
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 Is there a website I can go to see all my outstanding debt? |
| I think I did this once but I can't really remember. Is there a (safe) website where I can input my information and see how much I owe and to who? I think I have most of it taken care of already ... |
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 What is the best way to consolidate debt without using a line of credit? |
| I have only one negitive on my credit report, 90 day late payment on a student loan from 2003. The loan has been payed in full for over a year now. But, I am unable to get a line of credit to ... |
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 My cousin has been trying to get a credit card for the past few months, only to get rejected....? |
| She has no credit history, so its not bad credit nor is it good credit. What is the best way she can obtain a credit card, where can build on her credit? I remember when I was in college, they had ... |
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 I am in debt, should I ignore those creditor and collection calls; file bankruptcy; or try to repay the debt? |
| I am a 24 year old in California that is currently unemployed. I am a full-time student and have less than $1,000 coming in every month. I have around $15-$20k in unsecured credit card debts that I ... |
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 What is the best company/solution to consolidate my credit card debt with? |
| If I do not have a perfect credit score and I am past due in some credit cards what is the best company to consolidate debt with so I can make one payment?... |
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 How good does your credit score have to be...? |
| to get a $30,000 unsecured credit cosolidation loan with a decent interest rate? I dont want to start applying for loans if I dont have a chance.... |
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 What other things might stop me from obtaining a credit card? |
I'm both upset and confused.
My credit score isn't bad.
I've not lost a days work in 8 years.
I'm pensioned from the military.
I own my own home.
I can... |
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 My friend just turned 18 and wants to know how to get her own credit. how can she get her own credit? |
she wants to know how to get her own credit so she can get a new/used car and credit cards and such.
Additional Details
besides just getting a job ... |
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 Can Creditor remove derogatory information from credit report if you make a deal with them to pay the balance? |
| I have an old balance not payed on an acount listed on my credit report. I'm willing to pay it only if the creditor will totally remove the derogatory information from my report. Is this even ... |
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 How can i build up credit? can i get a credit card? |
| i started my credit with my cellphone but i've only had it for 6 months now and me and my husband are looking forward to buy a house but no one won't even rent us an apartment i was ... |
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 I have no credit and want a credit card but don't want to have to prepay for one. Know of one who'll accept me |
| I've tried capital one and they didn't approve me. I tried orchard bank and they wanted me to prepay for one. I don't want to do that. Know of one that will approve me and is actually ... |
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 How do I stop my mom from giving me bad credit? |
| She's been using my ssn to open accounts, and I don't think she's been paying any of the bills! I just got a letter from Sprint(in my name) and I remember we had Sprint a while back, ... |
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theoneandonly | Is having 5-6 credit cards bad for your credit score? |
I heard that having too many credit cards was bad for your credit. If I have 4 Store Credit Cards and 1 Visa Card and am planning to get another FINAL major credit card...is that too much? |
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SPIFIMAN1
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Only if you do not manage them well.
The number of credit cards a person has is not important, how they manage them is.
Keep your balances below 30% of your credit limit and pay on time every month and you will be fine.
I had 14-credit cards at one time and my score was over 750. I only have 8 now and it's still over 750 because I manage them well. |
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alexa dion
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Get rid of multiple credit cards. Although this might sound difficult, but if you are struggling to repay on time and, juggling with the repayment dates is causing you to default- it's time to think. If there is a genuine need to keep multiple credit cards, then try to automate their monthly payments. This will ensure that you don't default unwillingly and face the negative consequences. Read more from: http://www.credit-card-gallery.com/article/264,5_not_to_miss_things_for_a_good_credit_score |
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KP
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I'd say yes, but there are many factors there, such as how long you've had them, their balances, how close they are to their limit, etc... Any inquiries made on your name have negative effects to your credit. I suggest looking into financial counseling to learn to live on your income and not credit. |
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ZoneRider
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If you can pay the bills and keep your house and feed your family, you aren't doing badly.
Why get another credit card? As any reasonable person would council you, pay off what you have. THE SECRET is to cut them up once you are done, but do not close the accounts unless they charge yearly fees. IF the fees are high, you are hurting yourself. IF they don't charge annual fees, keep them. When you close an account, it is reported, negatively. Your score is helped by open accounts that never show a deliquency.
I've already been this route. Family members work for several credit companies and finance companies. |
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Alterfemego
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Yes it is. You really only need 1 or 2. |
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gonzo
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Yes it is. You need 2-3 credit cards maximum. |
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joveesasha
 |
No its not... |
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Gordon S
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NO....that's not too many, the big thing is to not use more than 30 to 40% of your credit line. If they are all maxed out it would be bad for your credit score, but if you keep them lower than 40% you should be just fine. |
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AnOrdinaryGuy
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Definitely!
The reason is that you can very easily run up a huge debt by maxing out your credit on all those cards. The more cards you have, the higher the debt you could run up. Your FICO score is reduced by the number of cards you have if you have more than a small number. Rread this booklet:
http://www.myfico.com/Downloads/Files/myFICO_UYFS_Booklet.pdf
My own advice is to have only one major card. It's hard enough to avoid running up more than you can pay in one month with one card! Having 2 is too much temptation, and you don't need 2!
Take the estimated credit score test at Bankrate.com |
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pepinousmc
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Yes it is bad and heres why. Say you make for example 50k a year. So about 4k a month, roughly right. Say you have 5 credit cards. 3 cards have a limit of 5k a piece and 2 have a 4k a piece limit. That's an added value of 23k in open credit. Now say that you have car trouble and you need to buy a new car. Conservatively we'll just say 20k. The bank is first going to look at how much money you make a year. Then they are going to look at your assets such as value of your house, IRAs, anything of value to see what your net worth is. (In case they need collateral) Once they know how much you are worth, they are going to see how much debt you have, ie. debt/income ratio. So you only have 10k in debt. They average what you'll be paying off each month at a minimum, figure you are worth a total of 35k because of your assets, but you already, and heres the catch, you already have 23k in open credit against you. So that means they'll loan you about 5k and call it a day. To much debt, to many open accounts, not enough income. In short, you only need two credit cards. Keep the oldest one you have, (for credit history) and then keep either the American express if you have one, or your favorite being second choice. Now you have purchasing power because you have the ability, the past history of solid credit, and the potential for more. Cut three up.. Good luck to you. And close the accounts before you forget about them. |
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