 What are some specific ways I can increase my credit score? |
| Here's the situation: my credit rating is poor. I have a few charged off credit cards from my early college years. HOWEVER, I do have one credit card that I have never even been late. Also, I ... |
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 I just got my first checking/savings account...help? |
| Could someone explain to me whether or not I can buy things online with it? I got my account from Wamu...and I think I get the gist of it all, but I'm just concerned what exactly I can/can'... |
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 Can an 11 year old use their mothers credit card? |
| Hello, my 11 year old wants a credit card, and keeps asking if she can use my credit card, she's very responsible, so she won't screw up my credit, but still, can she use it?... |
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 Wage Garnishment help? |
Doesn't anyone know on how to stop wage garnishment..since my mother die I have been facing hard time... is there a law that protect me...or is to late what can I don't I feel so sad.
... |
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| I have less than perfect credit? |
| i made mistakes when i was younger getting a credit card at 18 with no job, now that i'm older have a good job and good income nobody trusts me with credit.......is there anywhere i can go or ... |
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 Cant afford payments of loan and credit card? |
| Ive got debt with a bank on my credit card and loan. But cant afford the repayments and my debt is less than £2000,is there any way that this debt could be written off by the bank?... |
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 I need an apt. I was denied 4 yrs ago with a 585 credit score in CA. Now it's 640. Will I have problems? ? |
| As I said above, I want an apt. I'm a teacher w/ ten years in the field. What are my chances of being approved in a decent area. I take home 3500/mo. and want something in the 1000+-200 range?... |
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| I am being harassed by debt collectors for a debt I do not owe - what can I do to stop this? |
| I have tried contacting the company direct but they are just ignoring my numerous telephone calls and letters!... |
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 I have a very bad credit and want to clear this mess? |
| I have a very bad credit and want to clear this mess, I have found many companies on the internet and all of them claim that they can clear my credit for a fee. Is there anyone who used this kind of ... |
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 Can anyone offer advice on debt problems? |
| My wife and I are 25 years old, we have over $50,000 in revolving debt, paying an average apr of 15%. We have decent credit as we pay our bills on time, but we are not able to get a loan because of ... |
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 Do debt consolidation loans bring down your credit score? |
| I'm wondering if debt consolidation loans bring down your credit score? Also are you required to close the credit cards you pay off with the consolidation line of credit?... |
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 Can I get a car loan if my job doesn't start for one month? |
| I am looking to get a car loan for about $30,000 and my job does not start for a month. I just finished grad school and have a letter of employment that states my start date and salary of $140,000. ... |
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 Can you help me settle a dispute about bad check writing...me and a friend are on different agreements here... |
| OK, I was wondering...if you have a bank account (checking) that is over drawn for a few weeks to a month and you cannot pay to get it back to positive...plan on lettin it close down and going on to ... |
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 This is a serious question about bankruptcy or trying to avoid creditors? |
| i had really good credit until a few years ago, i had all the major credit cards and i always paid my bills on time. but i was unemployed because of an injury for almost 6 months so i just lived off ... |
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 Anyone know a lot about credit? |
| Well here's a little bit about my credit history. I have once credit card I am in the process of paying off. I had verizon wireless and couldn't afford to pay my bill so it became a write ... |
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 Is it better to get my house loan or car loan first ? |
| okay im 17 but turn 18 in less than 30 days in the next couple of months i want to buy a house and a truck. the truck i want is $11,000 and my house is $40,000 i really want to get my truck but i ... |
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johnseymour | Quickest way to build good credit from no credit? |
I'm a 20 year old college student with no credit history and I just got my first credit card, a WaMu Secured Credit Card with a $29 annual fee and required deposit. My question is, what is the best payment pattern to adopt that will build my credit the fastest, so that I can cancel this card after 1 year and be approved for a REAL credit card, because the secured credit thing is a rip-off. Thanks! |
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Stephanie C
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Simply using it and never making a late payment is all you can do. Be very diligent and you shouldn't have any trouble getting a regular credit card in a year. |
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too l
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Your WaMu secured credit card is better than those ugly rate BS credit cards. Look at the rate, the fees and it from a prime bank! HSBC, Reward 660, and Capital One are the real credit card sharks....
Now get you a secure WellsFargo credit card, you will be happy you did. |
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Steve P
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see www.myfico.com for a complete explanation. |
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SPIFIMAN1
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Simple.
Use it for everyday things and do not exceed 30% of your credit limit and then pay in full before the due date.
This will do two things, first it will establish a payment history and second it will keep your debt to credit ratio very low.
These two things make up 65% of your credit score.
After 12-months you should be able to get a real credit card and then do the same thing with it.
Credit scores are based on the following factors;
1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%
To have the best score and profile you will need 3 credit card accounts (revolving) with balances below 30% of your credit limit and 2 cars, boats, homes, furniture or personal accounts (installment) all with good long pay history's.
This will give you the score and profile to get just about any loan you will need in the future at the best rates.
Remember, good credit takes years to establish and only a couple of month to trash.
Good luck. |
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tim t
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Building a good credit can be done in various ways. If you are fed up of the collectors tirelessly chasing you to pay your debts or if you are disappointed at your loan application being turned down, because of absence of credit history, you should learn how to do build your credit. The most important thing to remember is not to buy unnecessary items. Do not convert your ‘want’ into ‘need’, as it can drag you deeper in debt. If you are looking to build credit and do not have any history, set your priorities properly. |
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LYNN T
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Spifiman said it the best. |
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Chase S
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Don't get another secured card. The best way to start with what you have is to just pay it off over three months (or as long as it takes you) but don't miss or become late with a payment. Don't use the card either. chances are the fees you have discussed are already being taken off of the card anyway. so you may have to start out in the hole.. If this is not the case, use it on a snickers and pay it off immediately after your first bill. This makes sure your card gets reported. You then want to subscribe to affluent magazines and clubs. Have these magazines go to your parents house if you are away at school. Unless you have your own place and have been living there for a while. This will change the way credit card companies market to you. By joining national clubs, non-profits and subscribing to their publications this makes it easier to get approved for unsecured credit (especially when the organization is a prestigious one or if a small portion of the card will be going to charity). Going forward, don't apply for cards that aren't applying for your business. Credit card companies pay the most attention to the people they spent money trying to get (pre-approved offers in the mail), and unsecured cards that are given to college students. If you are not in school, go to the nearest college when school starts and notice how many CC reps are drooling for the business of unsespecting college kids that want to be treated like adults...what better way is there to give them responsibility than to give them debt before they fully understand the concept. Go there and tell them you attend the school...You are a shoe-in for a card. Just don't use it on anything but obtaining more credit and building wealth. |
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Steve M
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Use the card and pay it off on time every month. Also if you don't have a car and need one you could get a car loan and pay it every month. Both of those should help build your credit quickly. |
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felix hallam
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Repairing the credit score is not that difficult provided you take these 5 simple steps into consideration.
1. Check your credit report regularly
This is a must to ensure that you know your current credit score, and what is ailing it. If there are any inconsistencies in your credit report get them corrected. Keeping bills of all the transactions you make can be very handy and helpful in correcting any errors in your credit report.
2. Get rid of those extra credit cards
The temptations to own a new credit card are so numerous in modern times that many of us end up with a purse-full of them without any real need. They stay there and cause a lot of problems in repayment. The confusion that comes with too many credit cards can easy lead to a missed payment and resulting penalties. Frequent defaults will reflect poorly on your credit score. So, keep only the necessary and discard the rest.
3. Repay on time
Every credit card transaction is a loan that has to be repaid on time with interest. Don't ever miss out on any repayment. If you are not able to make full payments, make half, or even the monthly minimum, but don't default. This will keep you in the good books of credit card company and help your credit score. If you are not able to pay anything to the credit card company, don't shy away from them, call them, explain your problem and work out things so that a negative report doesn't land up with the credit reporting agencies. Read more from:http://www.credit-card-gallery.com/article/239,Credit_score_repair_in_5_simple_steps |
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Rony
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The Credit Score (also known as your MyFico score) is calculated with the following breakdown:
* 35% - Payment History
* 30% - Credit to Debt Ratio
* 15% - Credit History
* 10% - New Credit
* 10% - Credit Types in Use
May be you need take in 2008 a small loan consolidation. I found interesting information about your answer & options here. Goodhttp://all-debt-consolidation-loan.blogspot.com/2007/07/loan-consolidation.html Good luck! |
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Ted
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From someone who has suffered ...
Call Wamu, cancel the account, and cut the card and never look back ...
All credit cards are scams.
Open a checking account with a debit card. It does all a credit card does with none of the cost. Best of all, it will keep you from getting in the debt pit that makes these companies filthy rich and turns young people into indentured slaves that pay 10,000$$$ in interest.
Save and buy with cash. The only time you will need to borrow money is when you buy a house, and for that, your credit history matters little.
Good luck with these scissors ... |
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