 How do i improve my credit? |
| i have a very low credit score of 525. but i have payed all of my debts a year and a half ago. i recently spoke with a financial advisor for the credit union that i bank at, and she told me that i ... |
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 Has anyone one heard of Foresthill lending services? |
| I have been offered a loan from them and want to know if they are a scam. www.foresthilllending.com. I was contacted from them and say they work with many lenders to find you a loan to meet yours ... |
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 How do i get a $200,000. loan with good credit ?!? |
| i have 2 jobs i will make about $40,000. a year at one. and about another $40,000. at the other that i started 6 month ago.... |
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 How can I straighten out my credit? |
| I'm 22 and I recently completed a rental application for an apartment, but was turned down due to my credit. The only things on my credit are my student loan from college and a hopital bill. I ... |
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 Paypal sent me an email "ABOUT SOMEBODY'S ACCOUNT"? |
Dear PayPal Member,
Your account has been suspended in our system as a part of our routine security measures.
This is a must to ensure that only you have access and use of your Paypal ... |
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 I have no credit, not bad credit, just no credit. How can i begin to establish credit? |
| I'm just starting out with establishing my credit. I tried to get store credit cards etc but every time they decline because I haven't a sufficient credit history, or references. How can ... |
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 Ex husband filed bancruptcy and bank wanting me to pay off loan he was responsible for? |
| this is a second mortgage. i was released from the original loan. divorce papers say he was to assume loan and have it taken out of my name, which he never did. need to know my options for dealing ... |
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 Can I get car credit in mothers name as I am discharged bankrupt? |
| I was discharged from bankruptcy in April 2006. Before I was made Bankrupt and never had any money I could have car credit but now I can easily afford repayments I can't get credit. Would I be ... |
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 When do creditors stop chasing the debt? |
Additional Details
an x girlfriend of a friend had a supp card with his credit card, shes now dumped him and refuses to pay the 7k which now becomes his debt and yes he has learnt his ... |
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 Anyone know how to get a mortgage loan with 100% financing with bad credit? |
| i have a credit score of 570 and have no money to put down any help to someone who might knw how to help me get this loan to purchase my home????... |
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 It's unavoidable - we're gonna miss a mortgage payment. How badly will that affect our credit? |
| We can't make our December motgage. We can't borrow from anywhere and all our savings are depleted because my spouse has been out of work for most of the year. He's the only person on ... |
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 We receive points =money for each qestion we say? |
| hi,my name is camelia,i am from romania.i want to ask you something.this bussines ,with yahoo answer,they really pay you because you ask or answer something?i want to know sure .i want proves.... |
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 I have been trying to find a bank that will give me a chance with a credit card even though i have bad credit? |
| I am getting married end of this year and would like to have a beautiful wedding but as we all know weddings are expensive, i dont want a fancy wedding just one i wont forget .So i guess i just want ... |
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 My credit card is being used illegally by someone using a yahoo e-mail. How can I get Yahoo to help? |
| Yahoo has no e-mail to report fraud and no phone numbers to call about problems so how can I get them to cooperate?... |
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 Should i notifiy the police that i'v beeing scamed? |
| I believe this website is a scam. http://www.premiumart.co
they sent me a check so that i my cash take a way 10% and return the reminding 90% back to them through western union. I yahooed ... |
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 Are the drug dealers suffering from the credit crunch? |
If all the high fliers from wall st and the city are finding a shortage of usage of thier flexible friends . #
does this cause a shortfall for drug dealers , is the price of good coke falling ... |
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| How will my husband's bad credit history affect mine, now that we're married and looking to buy a house? |
| My husband's had a very bad credit history before we were married, and mine was excellent. He's working on rebuilding it now, but what can and should I do not to get mine damaged? Is ... |
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 Does it affect my credit much if I don't pay off my balance in full each month? |
| This is my first credit card, and although I was paying off my balance in full each month, circumstances have led to me being able to only pay the minimum each month. My payments are always on time, ... |
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Doclester | Will closing my inactive credit card or credit accounts help improve my credit score ? |
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ken_voss12345
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Hi, I don't think it'll do anything but if you want some in dept reading you will find some help here :
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck! if you get any luck please don't forget about me lol, hope it helped you. |
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Jeannie
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yes. One of the scoring processes is seeing how much credit you have available to you. THis includes all cards whether or not they have a balance. |
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puma_bpn
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It depends on whether or not you have a balance. Your score will improve by having a low balance, and paying your debts off on time. The best rule to go by is only purchse on a credit what you can pay for in full at the end of the months. |
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anonymous
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no actually it will hurt it because the % of available credit you have will go down. unless you have an excessive amount of credit cards. also, if you must close some, close the newer ones not the older ones. |
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George K
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If the account is paid in full.Then close it.It will not change your credit score not much.But it will say account closed,paid. |
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You are loved
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No, on the contrary it will give you less points for lack of credit, I would't close it if I were you, the way you get a high fico score is by keeping a few active accounts or more than a few, active, that is how your credit gets built, the 3 beaureaus base your good history on this, the number of open tradelines and how long active, and credit cards should never be maxed out, in order for you to get a high score you need to keep your debt at around 65% tops of the maximum limit, the most important thing is to make your payments before they are due, creditors love that and report you as an A+ borrower to the 3 bureus, not keeping your credit moving gives you a lower grade, if for instance your limit is $ 5,000.00 and you charge $ 1,200. or less and pay in full every month then you'd have a perfect score, (it's just an example)
Contrary to what some people say, as well as the previous answer, if you are looking to raise your fico score, it would never take a year, people would be out of business, especially lenders, I see fico scores go up in no time, by asking the borrower to pay off a part of the debt on a specific tradeline, or account and I've seen their ficos go up within 3 days by 60 points, even more, depending on what they do. You should always have a minimum of about 3 to 5 credit cards and keep them all with low balances, but preferrably 3, the way your score is generated is by seeing activity and the name of the game here is being responsible with your credit, if you only have 3 credit card tradelines, it's not enough at least to buy a home, if you have an auto loan it's ok, but do you see why you need more tradelines? they build your credit history, obviously you don't keep these tradelines to go out and get your credit cards maxed out you have them in order to create a good credit history, by knowing percentages, moderation and responsibility.
Hopefully this helps, but these are true facts. Ive worked in Real Estate finance for over 12 years. |
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Huguenot
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Yes, even unused credit cards raise your credit risk. |
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Amy >'.'<
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YES!!! Tho by inactive I would think they are already closed...? or you just dont use them? Anyways, I was able to raise my score 101 points in 12 months by closing accounts and paying bigger chunks off my debts. Even if you owe nothing but you have say 5 cards with a total available credit of $10,000 it can hurt you. The way they look at it you could go out tomorrow and max it all out. Keep one emergency card and get rid of all your store cards. Thats really all I did and I couldnt believe how my score went up. |
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Why Not!
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yes.... one criteria is the amount of existing credit you have.... the more accounts you have the bigger chance of falling into big debt you have....... |
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Super - Level 5
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Yes, it will. If I were you, I would leave that credit card inactive. Simply don't use it and this might even raise your credit.
Well, here is a website with many articles on how to increase your score, plus what you should avoid...
http://www.freewebs.com/infosource100/credit/s2-dail.html
"Clean Credit Report: Easily Raise Your Credit Score 100 Points" and more |
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maxx
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If you close your inactive accounts or cards it will not really make a differnce to your history or credit score>but if the accounts have any past transacations and any history at all thne its better not to close it but to just leave it as it is.becuase creedit refernce agencys will have a deep look at your history and if you close it then it will not be possible and you will lost that part of it. |
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supercreditguru
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Disregard other answers than this one:
If it is your oldest account, you MUST keep it open, or your scores will drop.
You MUST use every single credit card you own twice a year for best scores. |
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serenitynow
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Actually your credit score is determined on your credit limit and how prompt and reliable you are in paying your debt. Also your debt versus available credit amount. So no, inactivating your credit will not necessarily make your credit score better. |
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Loganathan R
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Whu are u worried by ur credit score from credit cards. Ur credit score is far better off when u do not have a credit card. |
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Technokid
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If you are not using your credit card or credit account, then closing them does not make a difference.
But closing and unused credit card or credit account is good, as it can affect your limit when you apply for a loan etc, as even though inactive your credit accounts are supposed to be a liability. |
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