 I applied for credit card,it was declined but i want to appeal,? |
| please can anyone help me how to write a appeal letter to credit card company.... |
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 I paid a credit card late. Actually I paid it on the due date but it wasn't applied to my account that day, be |
| I paid it late but on the due date, it was Saturday after 3:00 so it was paid on Monday morning. I was charged the late fee, but I am wondering is this reported to the credit bureau. When you get a ... |
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 Why are people so cheeky on here ? |
| whenever u ask a question (no matter what it is about) theres is more cheeky comments that genuine answers ,wot are people all about these days?????????why go to the effort of coming on here to give ... |
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 How do i raise my credit rating score, if i cant get a credit card? |
| im looking to buy a house in 12mths or so, but need to raise my credit rating to obtain a mortgage. i tried to get a credit card to help me do this, but was refused. what can i do?... |
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 Is there any truth too the rumour that the Halifax could be going bankrupt? |
| If they do, what happens to anyone's savings and will I still have to pay off my credit card?... |
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 I am having problems with Aarons rent to own place.I am late and they keep harrasing me.I told them I pay 6-15 |
| I have been late one other time. They also have theated me with legl action. I am willing to pay but they keep harrasing me. Can anyone help me. I need to know my rights.... |
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 How do you get a credit card when you have bad credit? |
| I have checked online and everything, but it seems no one will give me a credit card, unless they make you pay for it or it's a scam.... |
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 I'm confused! How are you supposed to pay on a credit card to build your credit score? |
| I've heard to keep 1/4-1/3 of your max. on the card to show you can pay and I've also heard you're supposed to pay it off completely every month. Which way helps your credit score the ... |
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 Does cancelling credit cards hurt your credit scores? |
I have a regular visa credit card that I have paid in full. I have heard that cancelling the card will hurt your credit scores...is this true?
Also, I have a store credit card that is also paid ... |
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 How does one fix their credit report after it has gone bad.? |
Additional Details
Ok i have paid all bills. I had an jerk for a boyfriend that went and used all my credit cards didn't help with rent or any bills. Thats why my credit is so bad. ... |
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 I have been Traced by debt collector? |
| I applied for a £5000 loan over the internet thro Eggs and it got proved So I decided to go traveling & when i got back i was not able to pay it, so I moved address's, & I kept runing ... |
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 Should I get a credit card? |
| I turned 18 in August, and I have no money, except for the money my parents give me, and Im a senior in HS, I really want a credit card so I can buy things, and I'll pay it off when I get a job. ... |
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 When im older, do i really need to have a credit card? |
| ive heard many more bad things than good about them. im hoping i dont need one EVER.... |
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 Credit card debt, and how to get out of it?!?!? |
| I have credit cards and all of them are over my limit...How can I help to lower my debt, but not have it effect my credit any worse, than what my credit already is?!?!?... |
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 Should I pay off a debt from 1998 that does not show on my credit report?.? |
| The loan was for an auto repo. A debt collection agency contacted me and said they would settle for 25% of the loan amount, which is a great deal. If I do not pay the amount could it affect my credit ... |
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 Is it acceptable to be in debt if you are responsible about it? |
Like thousands of other students across the UK, I have an interest free overdraft (which I seem to be in all the time) and I also have 2 credit cards.
My credit rating seems to be good, ... |
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 Need to get credit score up fast for a car loan...? |
| Will taking out Payday advances and paying them back right away build my credit score up quickly? I know I will pay some fees that way but I can't think of another way. My credit score is too ... |
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 Which bank has the best credit card? |
list your banks and % rates
do they ALL rob us blind?
how many offers do you get in the mail (per month)?... |
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kev d | What the point of having a good credit score? |
I always thought it was just a good idea to stay away from credit cards period. But my friend told me you can't buy a house without good credit and other stuff like that.
What are your thoughts? |
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Millionster
 |
Banks lend money to people for a small fee which is usually a percentage of the overall loan. This is how they profit from loans and can continue to stay in business. However when someone doesn't pay their loans back in a timely manner, the bank loses a lot of money. When a lot of people aren't paying their loans back they run into all sorts of problems! And so for banks and other lenders to make sure they can stay in business and continue to offer loan products, a credit scoring system was developed to rate people based on the likelihood that they will be pay their loans back. People with lower scores have lower scores because their credit report has a history of missed or late payments. Enough of these entries on your credit report and not only will you have a low score but you will immediately make yourself look like a high risk to a bank with little chance of return -- and in effect banks and lenders will not lend to you. So if you want a loan, the trick is to make yourself look appealing to lenders. One way to do that is demonstrating that you have enough income to pay your loans in a timely manner. Primarily, however, to make yourself look even more attractive to a lender -- e.g. they will make money from you and not lose money -- showing that you are responsible with your bills and debt is the only real way -- and that is reflected in your credit score.
Here are the score ranges:
* 760-850 Excelent
* 700-759 Very Good
* 660-699 Good
* 620-659 Marginal
* 580-619 Poor
* 500-579 Very Poor
When you're trying to build a solid credit score it's important to get a comprehensive view of what is actually effecting it...
Your 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
If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score.
You can read more about these tips on my blog:
How Can I Increase My Credit Score
* http://millionster.com/articles/debt/ask-1mil-how-can-i-increase-my-credit-score/
Hope this helps. If you have any more questions just ask =)
Ciao! |
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bonitakale
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It is a good idea to stay away from them, in general. But it's also a good idea to build decent credit for a few reasons. One is that you might want a loan -- like a mortgage, for instance. Another is that if you apply for a job or insurance or the Lord only knows what, they might want to check your credit rating.
If you can buy a few things on credit now and then, and pay them off right away, it looks good. Like, you take the money for the jeans and put it in an envelope in your desk. You buy the jeans on the card, and when the bill comes, you put the money in the bank and pay the bill. It's a nuisance, but it's the safest way to make sure you don't get caught in the credit trap ("Oh, but it's such a great sale, I'd better buy two pairs, and I can just put them on the card...")
Oh, and if you ever need to rent a car, you'll have to have a credit card, or else promise them your firstborn son! |
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Ice
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A good credit score indicates to potential lenders how reliable you are in repaying debt.
A good credit score will get you better interest rates on loans and allow you to get higher loan amounts.
Employers are more and more looking at credit scores for potential hires. Again, a reflection of your reliability. |
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frankb
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For some reason, lenders want a good credit history documented.
So get a couple of cc's, charge something on them, and pay them off in a week or so.
That'll make them happy, give you a great score, and then they'll loan you some money. |
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Suppie
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It's totally different stories between credit card using and having good credit in order to buy a house (which you need good credit for the bank to verify and give you mortgage)
Using credit card, no matter how much it is you make sure to pay back - this is personal loan (sort of, with credit cards)
Good credit to obtain mortgage from the bank, they will check what kind of job you do, how much debt you have, how long you work for, how often you get paid, etc.
These days, most banks can provide 100% mortgage and don't even check your financial background. Some banks will do though. That will make them more secured when giving you mortgage. |
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minitrail70
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Your friens is correct..
People who don't know you, and will never meet you, use credit ratings, to determine the type of person you are, your credibility, and the kind o risk that you may be.
Credit affects the cost you have to pay for loans, insurance, and a whole list of other things...
Better credit score means that you are perceived as being more reliable / trustworthy, and a lower risk. |
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JD
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you can have nothing without good credit
you're credit score and credit card are two different things.
You're overall credit score is how banks decide to lend you money or allow you to get a decent mortgage.
A credit card just helps you build credit, so the best thing to do is get a really low limit on your card, use it occasionally but pay it off right away.
I learned that the hard way a while back, thankfully I've managed to get my act together and realize it's importance - now I have a fairly good score, not the best but I'm on my way! |
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Foamy4President
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good credit is essential! It gives you lower rates on Car loans, Home loans, home equity loans, personal loans. It eliminates activation fees. It helps lower your car insurance. Having bad credit can prohibit you from getting an apartment, or a job, cellphone, house, car, money when you need it. Credit is essential in todays plastic world. get a card when you turn 18 and use it responsibly, never be late, and never exceed 50% of your credit line on ANY revolving line of credit <this includes equity lines of credit> |
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MissJOJO
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Credit Score is like a transcrpit you send into school to prove to them you have a history of being a good student.
Credit score (and history) show the following:
> Are you good buyer?
> Do you make payments on time?
> Are you making at least the minimum payment? Or are you paying above and beyond what they are asking for?
> Do you have agood credit ratio (as in are you spending as much credit as you have? Pushing the limit? Or are you only in debt a fraction of the amount of credit you have?)
Anyway, it lets companies know whether you are trusthworthy and responsible enough to make payments on big things such as a house or car, getting a loan etc. Start small, like get a gas card (which you know you need to pay for gas) and only spend what you know you have in your pocket.
Lets say you spend $35 on gas. RIGHT AWAY, make a payment on those $35 dollars onton the card. Its like paying SAME AS CASH but now you're starting to build credit. You could even charge small things like a pack of gum or a soad and a bag of chips and then right then and there turn around and make a payment on your card for that amount. That way you don't have to worry about it LATER.
What get people in trouble is when they start charging things even tho they don't have the money to pay up or forget to make payments LATER... Then its hard to keep up with paying back.
Hope this helps. |
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lsbeasley
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A good credit score shows that you are reliable - if you borrow money, it will be paid back.
So it could be a good idea to charge something, even if you pay it off promptly. Some credit cards double manufacturer's warranties if you use their card, so if you have to buy an appliance, that might be a good time to use the card.
But yes, credit cards are a good thing to be cautious about. |
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HelpMeSell.com
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680+ credit score means you can almost always get approved for the loan you want and you get more favorable interest rates. Good credit is important just ask anyone that has bad credit. |
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Bob Lahblah
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Your friend is right. Plus you get better interest rates if you have a better score. |
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Chrys
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It's not MY thought...it's the truth...you cannot buy a car, a house, a boat, land or anything considered 'property' without credit. You also can't rent a car, a house, a boat or anything else without a credit card. Paying cash is great, but if you don't have a GOOD credit score (780 and up) you can't do much of anything in the 'real' world. |
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Phil M
 |
The point to having a good credit score is to show that you are financially responsible and patient.
You do need good credit for many things, even getting a job.
The best thing you could do is get a low limit credit card and ONLY use it for gas or groceries. Pay it off every month. You also have to show that you can "live with debt" and by that I mean, you have to show that when someone gives you credit...you let them get their interest. (its their rules, their game).
A good way to do that is carry a balance on your credit card periodically....but that can wait and isn't as important as having a revolving (credit card) credit reporting good on your CR.
And it kind of is a scheme. If you have lots of cash (lottery winner) and you prefer to pay 80% down and pay off your debts quickly...lenders dont like that. They like to make money off the money they lend. They just do. Also, to a degree bad credit can be better than no credit.
Go slowly, and be very patient. Good things comes to those who wait. |
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Cecilia
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the more credit cards you have in good standing-75% of balance or less- the better your credit score will be. Without a good score you wont be able to buy a house a car or anything
so it is good to have credit cards
if you dont like them maybe open them and dont ever use them, that way it will still give you a good credit score |
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waywildcherri
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Businesses are reluctant to lend you money if you have no history with anyone else when it comes to money.
I have great credit, but I only had an account with a rental company. That wasn't enough to get my car without a co signer or a larger down payment. I went with the larger down payment.
Its troubling in this day and age to think that you NEED a credit card, but the companies cannot secure your information properly and identity theft happens. |
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☆BTriX☆
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I think credit is a big steaming pile of BS.
You have to be in debt to have good credit. For the longest time I had no credit, which is what they start you off with - which is WORSE than having bad credit in most situations. So the only way to fix that is to go INTO debt, so you can someday go into humongus debt when you purchase a house or car. Big steaming pile.
And apparently giving my opinion (which was asked for, BTW) gets me tons of thumbs down. COOL! |
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TexfiÑ”ldÑvox▒≠ღ♫♠♥♦♣©™
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yes you cant, and cell phones on a plan either, put money on there, better intrest rates, and the most common credit score is 650 |
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