 I thought having credit cards would improve my credit!? |
| My credit score is a very low 537 i pay all my bills on time, and have had 3 different credit cards for the past 6 months to a year that i pay in full and on time, so where is the problem, because i&#... |
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 How do debt collectors keep finding my new cell phone number? |
| I have changed my cell phone number 3 times and each and every time collection agencies are able to find it. Is there anything I can do to stop them from being able to get it?... |
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 What happens to someone's debt when they die? |
| I figure that if the person is married, their spouse becomes resposible for playing any debts left behind, but what happens if this person is unmarried? Do their children inherit the debt? Do the ... |
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 How Can I Remove My Name From Bad Credit Scoring??? |
I asked this question:
http://uk.answers.yahoo.
and the first gentleman stated that I can have my ... |
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 Should I take out a 2nd mortgage to pay for my credit card debt? |
| My husband and I are in our late fifties. He is disabled and is on a set income. We only make enough money to pay a our bills. There is very little money left over for gas, groceries or everyday ... |
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 My debit card won't work at stores only atm? |
| why is that. its a student checking account with wachovia. It is always declined or something but I can get money out of the ATM... |
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| How do people get into such deep debt? Like over 10,000 dollars of credit card debt? |
Ok so I have seen questions about how people can get out of over 50,000 dollars of credit card debt. My question is:
How in the world can you get that much credit to begin with? Do they ... |
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 Just got a credit card from capitalone to get my credit started.? |
| I just want to know where i can use my card at b/c i need to buy somethings and was thinkin of using my card but dont know what stores accept it. Does Wal-Mart accept this credit card?... |
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 My credit score is low cause I don't have a credit card but I cant get a card because of low score. Help? |
| I am looking to get my credit score up and clean my credit. They say revolving accounts get your credit better but I have bad credit and can't get approved for a credit card. Even the crappy ... |
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 Does having a credit card cost money? |
I am getting my own credit card soon to help build credit, but I really don't want it to cost me much.
If I have no annual fee, and pay my (tiny) balance every month on time, will there any ... |
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 I NEED A LOAN TO CONSOLIDATE MY DEBT -BUT MY DEBT IS NOT BAD ENOUGH FOR CREDIT COUNSELING---ANY SUGGESTIONS? |
| I have tried to get debt consolidation help but every one just tells me they can't help me because my debt is not high enough!! I have been slowly paying what i can but am starting to sink fast--... |
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 Abbey National - Cutting my overdraft!! Please help? |
My ban k have sent me a letter saying that next month they are cutting my overdraft down from £1700 to £500!!!
I can't afford to pay it all of by the time they cut the overdraft limit and ... |
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 What do you think about payday loans? |
| I am thinking about getting one and would like to hear you advice about them.... |
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 Does it affect your credit score positively to pay off a loan early or not? |
| I have a car loan with a Credit Union that has a year or so left, and I'm curious if paying it off early will significantly effect my credit scores, or it really doesn't matter very much?<... |
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 Where can you find those American Exprees Gift Card things? |
you no like those things that r like temporary credit cards you can use anywhere or w.e.
DONT BOTHER GIVIN ME S**** BOUT MI SPELLING I DONT CARE... |
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 Can collection agencies try to collect a debt that is eight years old? |
| I received a call from a collection agency trying to collect on a debt that is 8 years old, dating back to 1998. My state's Statute of Limitations for debt is seven years. Can they still collect ... |
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 I want to buy a new car but my credit score is only 680. Is this good enough? |
| I also have on my credit report a few old debts and one judgment which is already paid and have a student loan on good stading.I will pay all of my old debts before trying to apply for a car loan. T... |
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Linda | Why do credit companies keep giving us credit knowing we have a bad history.They know we can't pay it back? |
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 |
 
mrmcmmpem
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because they want to make a lot of money off of consumers... it is all about their wallets... |
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affinset
 |
Many of the credit card companies securitize (sell) their credit card accounts, and your credit "risk" gets combined with others and sold into a "pool". There is value in the overall pool (volume), therefore the more the better, even if the risk is higher. Further, the rates they can justify for your credit are substantial enough that even though you MAY NOT pay, someone else with 22% interest costs, will pay and make up for what they lose on you (plus a profit). You need to be smart enough not to trap yourself into overextending yourself |
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maci224
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because they have to make money whether its good or bad decision |
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Me.Myself.& I
 |
Its called tax write offs and they make money off commissions.....you are a statistic..........they make their money trust me.............!!!!!!!! You are the sucker not them......!! In the end you are the ruined one.......and they are still rich. Thats why. They always profit. |
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helzapopin
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Most credit card companies are only interested in sucking the life out of anyone they can in any way they can. I recently had a credit card with Capital 1 where my minimum payment was $70. $50 of this went straight to interest and only $20 applied to the principal. My balance was only $2200. It's easy to see that I would have never paid this off at this rate even if I had never made another purchase. It was my fault for not reading the fine print about cash advances but still, the trap was laid by Capital 1. The kicker was that even after I had a $0 balance I still had to pay an additional $40 in interest. The simple answer is that most credit card companies are scum. |
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ccccccccdddddgggggrrrrwwwsszcvbn
 |
bc |
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"Marian" the Librarian
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it's all about the interest. with a 18.9% or higher interest rate on some cards, companies make alot of money when people just pay the minimum payment forgetting the when the pay so low (say 500 dollars) they may be paying in actuality about $1000. |
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curiositycat
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If you have a questionable credit history, they can charge you a higher interest rate because you probably need the credit. Then they make more money. |
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Mrsdonmar
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Because they recoup it from people who do pay thier bills. |
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hotrod luvin princess
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not all people are like that...some of us deserve the 2nd chance. others are quickiy ruining that for us. |
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do it movin'
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because they want to make money off the interest you pay when you max that next credit card out.. please.. don't do it! |
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Goblin g
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Unfortunately this is how credit card companies make their money. They extend you credit, know that you can't pay all of it back in a lump sum, then charge percentage rates that are sky-high.
For example: if you buy your groceries on your credit card, if, for instance, your total charge is $200 - if you don't pay the entire $200 back within one month, the credit card companies then tack on their finance charges at a sky-high rate. By the time you get done paying off the $200 you spent for groceries, in some cases you will have spent double the amount. The same goes for something the you buy on sale. Once you are actually done paying for it, if you've allowed time to go by and you are paying the finance charges, your sale item is no longer a sale.
The best suggestion is to "beat them at their own game". Whatever you buy (using their money by using the credit card), pay the ENTIRE bill at the end of the money. In essence you will be doing back to them, what they would be doing to you. You will be using their money (without putting any of your own up front), and then when you pay it off at the end of the month, it will have cost the credit card company in order for them to lend you their money. You get to use their money and then pay no penalty. Not only will you have EXCELLENT credit built up, but you'll be able to enjoy the use of the credit card with no hidden fees.
Have a lovely rest of the day. |
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