 Which credit card gives you the best rewards? |
| I tend to use one credit card to charge all my expenses each month and then pay it off at the end of the month. There are sooooo many credit cards out there and I was wondering which one gives the ... |
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 Will I get a late charge for my capital one credit card? |
| my payment is due tommorow.and i put it in the mail yesterday however tommorow is a holiday.it is the first time it has happened.anyone know how much i will be charged.... |
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 Son refuses to pay father for his car loan.? |
| My friend asked me for advice the other day and I wasn't sure what to tell him. His 21 yr old son bought a new car 6 months ago. His father had to co-sign the loan. The son agreed to make weekly ... |
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 Will not paying off your credit card completely in a month hurt your credit score? |
I got my first credit card last year, I've used it a lot and got a few credit increases, and have paid it off in full at the end of every month.
However, this month I've spent ... |
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 How do i get $4000 by April??!??! I really need it...? |
and i dont have a co signer or a loan
Additional Details
no co signer or ... |
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 How bad can medical bills affect your credit?? |
| how bad can medical bills affect your credit? I was informed of a medical bill that has been reported. tell me the bad news.... |
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 Who has to pay his father debt? |
My friend's dad is in jail since a couple of months. He owns some money in credit cards. Who will have to pay for the debt? Since obviously the father will be unable to pay
Additional D... |
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 What is better a credit or a debit card? |
| mainly using it for online purchases and buying things like clothes, shoes, phones, etc...... |
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 Aside from shopping convenience, what are other advantages of having a credit card today? |
| I intend to avail a credit card for myself. But before plunging in, i would like to know if i really need it. Is credit card a boon or bane?... |
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 How come NO ONE will give me a loan or credit card when my credit rating is 652? Is it THAT bad? |
This is all so confusing.... I get declined wherever I apply for this stuff and nobody can help me and now I have all these inquiries on my report and.... UGH. Shoot me. =/
Why is it everyone ... |
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 Pulled my credit and scores are 609equifax, 642transunion, 672experian. had 2 car loan 1- $28k and 1-$21k..? |
| paid off the $28k loan early last week (sold car) so now I only have 1 car loan at $21k. Wondered if that 609-equifax score might increase because of the $28k debt being removed. I need it to go ... |
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 I have had a cash payment put into my bank account of £270 and it was not me or anyone I know. what do I do? |
I am not going to " steal" it but if someone has paid into my account by mistke will they get it back or will the bank keep it?
What do I do?... |
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 Is it bad to have a high credit limit? |
| I want to increase my credit rating, so I have been putting small purchases like trips to the grocery store on my card. I pay it off every month. I have had this card for over five years, and have ... |
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 I need help or suggestions??? |
| I'm just starting my credit and I have nothing on my credit report, I mean 0, nothing, nada, what can i do to start building my credit, some finance companies and banks dont want to give me ... |
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 I am a authorized user of one of my mom's credit cards and? |
| I made this card so that I can get credit(had no credit) this was about 3 years ago. I recently pulled up a credit report and saw that my mom's credit card had about 50 percent balance of the ... |
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 I have a credit card question?...? |
| I have been trying to find a good card that will accept me. i dont have the best credit but isnt there some cards out there that i can apply for and actually get it?... |
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 Is it better to...? |
cancel your credit card accounts or keep them open.
Does this help your score more if you have open credit or canceled ... |
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♥CNA♥ | Is it bad to have too many cards?? I dont even use them!? |
Im trying to build my credit, so I applied for a bunch of cards and got a few. I never occur interest on them, and hardly even use them. Does this look good or bad??? Should I get more, or just use the ones I have more?? Or what?!?! im only 20
Additional Details
thanks everyone! Very imformative! I only have 1 debit card visa, and 1 credit card Mastercard. But I have a Victorias secret card and target card |
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tonalc1
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Too many cards will hurt your credit rating. They look at your available limits (i.e. what you could borrow); if it's too high, the rating is lower.
They look at payment history. Just have one or two cards, use them for purchases, and pay them off regularly. That will build your credit history and resultant credit rating. |
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cmp8423
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First off, how many do you have? and what kind of cards are they? Are they your normal MasterCard, Visa and AMEX? It is good to use them, but paying off your balances in full each month is what gets you an excellent credit rating. Even when you do carry a small balance from month to month, its ok. Also people will look at how much TOTAL available credit you have to how much is being utilized. Having a few cards with small balances is good because it shows responsibility and the ability to pay your bills. But don't go crazy opening thousands of accounts.
You can get a free credit report at www.annualcreditreport.com. It allows you to see your credit report once a year at no charge. You can also see your FICO score, but that costs about $8, which I think is worth it to see where you stand.
I recently obtained my credit report and it was very informative. At the end it told me, why I didn't receive maximum points in certain areas. Also don't be alarmed if you credit is low. You are only 20 and a big factor is how long you have had your credit cards. One of the things listed on my report was that my credit history wasn't long enough, its because I am only 22.
The credit "stuff" is extremely confusing. I don't even understand it all myself, but I hope i helped alittle bit. |
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Andreas
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Depending on the limits for those cards, it could be hurting you that you have many of them. The scoring looks at the amount of credit that you have a potential to draw upon. If that number is too high, it could lower your score.
If you use cards and the outstanding balance is high relative to your limit, then that would hurt you as well. It is probably better to have a few cards with higher limits than many cards with lower individual limits that add up to the same total. It also affects your score every time you open a new account. Be careful if you decide to close some of the cards. Close the ones that have been open the shortest time because it would hurt your score to close your oldest accounts. If you do close an account, make sure that the issuer sends you a confirming letter that shows the card was canceled at your request. |
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Tom J
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I recently spoke with a family member that is a mortgage broker (he deals with people's credit issues all the time). The key to a good credit rating is to have two or three credit cards that you use on a regular basis. It's important that your credit history is free of late payments or referrals to collections agencies. Another part of the credit check that suprised me was that they go back and look at all the utility companies (phone, cable, gas, electric) to make sure you have a good payment record there as well. The same goes for if you've made major purchases such as a car. You can also check out companies like Equifax, Transunion or Experian for more information on establishing a good credit record. Also you are entitled to a free credit check once a year. Any of the three companies I mentioned can provide that to you. I attached one below as a potential starting point. Good luck! |
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michels2
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Keep them open If you need a home loan you can close them at any time. But It haelp with other credit because the amount charge/max limit will be low helping your credit. Plus they look at how long you have had your card if you close them it will shorten |
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doanel
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I definitely wouldn't get any more. Use the ones you have sparingly. Don't max out any cards. Do use them and pay on time to show you are responsible. Be careful though. Using Credit can really get out of hand if you're not careful.
Good Luck. |
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gtofinancial.tomvoli
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I usually suggest that a person have no more than they need. However, if the accounts are not costing much in fees and are opened they are not hurting your scores...and in fact closing them could hurt the scores.
I wrote an article on this subject...check it out. |
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ice_princess
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It doesn't look bad but If you are appling for something that is big (car, house) they will look at your available credit and debt ratio. If you have 1000's of $ in credit even if its not being used it is still available. The smart thing to do is carry one major credit card (Visa, Mastercard,amex)and make the banks compete with interest rates to see which one you are going to carry. Then once in awhile put something on it and pay it off at the end of the month when your statement comes in. When they look for a big ticket item they will see one major card with no problems. |
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epelham54
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A good program to help people with their credit is www.comingbackstrongfinancially.com I just bought the programs they have been a life saver. The programs tell all about credit cards and the ones you shouldnt have, and how to use your cards the right way to increase your credit score. |
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