What happens to your credit score if you pay off all your debt and never get another credit card?
I have a tremendous amount of bad debt. Almost 2000 dollars. If I were to pay it all off, would it raise my score or just keep it from getting lower? I have no intention of EVER having another credit card. My credit score is in the low 500s. What will happen if I pay off all debt and do nothing to raise my score?
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What would my credit score be before I get any credit?
I just turned 18 in July and I have no credit history at all. What would my credit score be right now now? What does it start out at? What is the easiest way to increase my credit score? How long does it take to build credit? Do you get points per month or how does it work?
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Credit repair advice to qualify for a mortgage.
My husband and I would like to buy a home but we are not sure we would qualify for a mortgage because our credit is not great. I contacted lending.com recently to find out what we can do to be ready in 6 to 9 months. They said that our credit score was less than 500 and there’s nothing they could do to help us. If we pay off the doctor bills that are on our credit report, would it raise our credit score? Does anyone know of any mortgage companies that handle high risk credit? Any advice on getting our credit score raised would be greatly appreciated!
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What matters more; your credit score or the contents of your credit report?
I have a good credit score but I still have unpaid collection accounts on my credit report. Will lenders expect me to pay those off before they would give me a mortgage? Since my credit score is high, will it really matter what is on my credit report?
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Credit Repair After Bankruptcy
I filed chapter 7 bankruptcy after a divorce in 2002. I then had to file chapter 13 bankruptcy in 2007 because of a foreclosure on my home. I’m one month from finishing the chapter 13. Will these bankruptcies be on my credit report for the rest of my life? What can I do to improve my credit score?
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What does my credit score need to be to finance a car?
I recently paid off all my debts and my credit scores are slowly improving. I got my credit report and it doesn’t look too bad since most of the negatives have been removed. I, like so many other people, messed up my credit when I was younger and I’m still paying for it now. My credit scores range from 579 – 618. Is this good enough to get a loan for a car, or do I need to wait a while longer?
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What credit score is need to qualify for a home loan?
What credit score do I need to qualify for a loan at all, not necessarily a loan with a great interest rate? Due to some student loan problems over the past year, my credit score has plummeted into the 500s from around 700. I earn 6 figures and I have very little debt, so that should look ok to lenders. I’m just wondering what my credit score needs to be before I can even consider applying for a mortgage.
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What effect does canceling a credit card have on your credit score?
Say you are in good standing, never late, always payed the balance, but you have too many credit cards. When you cancel a credit card, what happens to your credit score? Does the credit limit you had for that card get erased from your credit report? After all those years of building the credit limit to help your credit score, what happens to it and what happens to your credit score?
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Am I obligated to get a credit card after I apply?
I’m thinking about applying for a student credit card. The details say the APR is based on credit history, etc. If I apply and they approve me, but the APR is too high, can I just say "no thanks" or am I stuck with it? And will it effect my credit score?
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How to get creditors to report account information to the credit bureaus
I got my credit report today and it shows that my available credit is $300 and I have $296 available. After further inspection I noticed that only one credit card had reported a credit limit and all of my credit cards hadn’t been reported since April. How can I contact the credit card companies and get them to report accurate and up to date information to the credit bureaus? I think that this might be affecting my credit score, so I would really like to fix it.
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Does your credit score go down when you apply for a credit card?
I would prefer answers from people who work in the credit industry and can tell me roughly the number of points, and how long it will take for my score to recover once the new higher available credit kicks in…
I know part of your credit score is determined by how much available credit you have. I closed several credit card accounts a few years ago before I knew it would hurt my score, and now I have very little credit available. I have excellent credit otherwise, and pay off anything I charge the next month. However, I do have a balance I’ve been slowly paying down, and want to open a new card so that my balance takes up less of a proportion to my total credit debt.
How much will this hurt my credit in the short term? And how long will the point drop last?
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How can you raise your credit score besides paying on time?
Past credit mistakes messed me up. I have a judgment that’s almost paid off and I am trying to raise my credit score. I have 3 new accounts that I’ve paid on time for over a year. I read that one way to raise your score is to ” piggy back” on a relatives good credit ( have them add me to one of their good accounts and not use it) Is this safe? Is it legal? I would love to hear constructive ways to increase my credit score. Please don’t judge me. Almost all of my ” bad” credit accounts have been paid off. I put my sons first after I was divorced. They lived in the house that I paid for while I lived in a basement.
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Qualifying for a mortgage after filing chapter 7
I filed chapter 7 back in 2004 and I checked my credit score and it is 645. I am looking to purchase my first home by the end of summer this year and I want to make sure that I am able to get a loan. I have heard that it is hard to get a loan if you have filed chapter 7. Any and all information is greatly appreciated.
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Will lowering your credit limit also lower your credit score?
I only have one credit card, and I have a very high credit score. Because of my good score, the credit card company keeps increasing my line of credit even though I don’t ask for it or use it. I have been told that if you ask for a credit line decrease it will lower your credit score. Why is that? What can you do to minimize a lowered credit score?
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How does a personal loan from a bank work?
I just received an offer to apply for a personal loan for up to $35,000 with Bank of America and for up to $5,000 with citibank. I actually need no more than $7,500. The interest rate is between 9.97 and 27.88 based on credit worthiness. I would like to know how it works. I’m trying to decide between that and applying for a credit card. My credit score is fair (650). A friend advised me to go for the loan because it’s a guaranteed fixed interest, but since I’ve never done it before, I would like some more advice.
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I have a bad credit score. How can I fix it?
How do you repair a bad credit score?
I need to fix my bad credit score but I have no idea about how to do it. Can any body please help me?
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What types of credit do I need to get a higher credit score?
My credit score is about 615. I am working on improving my score so that I can qualify for a mortgage loan with low financing in about a year or so. I currently have an auto loan, and 3 revolving credit accounts. (All bank credit cards) Two of the revolving accounts are new, and the other almost a year old. My auto loan will be a year old in July of this year. Should I apply for more credit to get my score higher? If so what type of credit? What is a good mixture of credit to have to get my score higher? Any advice is appreciated. Thanks!
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Which credit card would be good for someone trying to rebuild credit?
I have decent credit but I had canceled all my credit cards when trying to get out of debt. I am now free of all unsecured debt but I would like to have a card to build credit.
I’m thinking I want a card with no annual fee and a low APR. The card would only be used occasionally and paid off immediately. I have no desire to repeat previous mistakes.
Does anyone have any recommendations for a good credit card for this purpose?
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I have a collection on my credit report but I don’t know what it is?
I just found out I have a collection on my credit report. I have no idea what it is or anything. I have to wait until tomorrow and call them. What would happen if I paid that? Will it lower my credit score or will it go up a little?
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How high can my credit score go with only credit cards in my credit history?
My current credit score is 745 and I’ve built it solely by using credit cards and paying on time (but never had any loans). Somebody told me that the absence of installment loans will prevent my score from climbing much higher. Is it true? Should I take some consumer loan to boost my credit score since I am planning to apply for a mortgage in the near future?
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Which credit card should I apply for, Bank of America or Citi Bank?
I have a credit score of 700 and I want another credit card. I was thinking about citi bank or bank of america. Which one should I get? I only have one other credit card from Wamu. I want a credit card that will report to the 3 credit bureaus every month. Anyone who has either of these cards, which one did you like and why?
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How does reworking a mortgage affect my credit score?
I could use the help of potentially reworking my mortgage to be more affordable. It is possible for me to get by without doing so. If I do call my mortgage holder and rework my mortgage for a reduced interest rate or reduced principle how does that affect my credit score?
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How do I build my credit so I can get a credit card when I can’t get a credit card until I get some credit history?
I tried applying for a kohl’s and a victoria’s secret credit card today and I was declined because I have no credit score. I allready have a debit card but that wasn’t good enough. It’s a vicious circle. You have to have credit to get a card but you can’t get a card without having credit. Please Help!
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Will my credit score go back up once I pay an account off?
I have to pay 2,654dollars and the lady said if I pay 1,900 for a settlement she would say it was paid in full. But my question is, will my credit go back up once I paid the full amount?
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Would paying off a loan on a truck that was repossessed help my credit score?
My husband and I signed a $20,000 loan on a truck. The payments were behind and it was in a wreck. The truck was repossessed when we still owed $8000. The loan company offered a settlement of $2800 if we pay by the end of the month. Does this sound right to anyone? How would it affect my credit if I pay off the loan now?
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Does debt consolidation work and help improve your credit score?
I am really bad with paying bills and my credit has taken a hit these past couple years. I make enough money where I should be able to pay everything with no problem but for some reason I continue to struggle. Do you think a debt consolidation would be best for me and to help me improve my credit score? Does this really work?
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Can I refinance my mortgage if i start a home business with no employees and still work my regular job?
I want to refinance my mortgage and I want to start a home business before doing so. It would have no employees and I would still keep my current job. My home business will not require any due balances or credit lines to increase my debt. Would mortgage companies see the worry that I would quit my regular job or would they trust that I would maturely handle the mortgage payments? In other words, would I have no problems getting refinanced under these conditions. My credit score is about 650 and I’ve been at my current job for 1 1/2 years but have had steady employment for a long time. I have also paid my mortgage on time for 12 months.
The reason I am asking is because what I will be doing requires a vendor license. Therefore, in my ssn, it would show the business based at my home address.
I am actually looking for a new mortgage loan, not a home equity loan or personal loan and I don’t need to borrow to pay debts.
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I’m trying to get a motorcycle but I have a low credit score.
I have a credit score of 615 and I’m trying to get a motorcycle or a loan for one. Please somebody help me with a site or something where I can qualify for a loan. Please, no answers about how I should pay my bills on time to get better credit, I’m a college student I have no money.
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Not enough debt for debt consolidation?
I have about $6,500 worth of debt, my income after taxes is about 21,000 a year. Most of my creditors have closed my accounts (all of my credit is maxed out). I recently got my FICO score and it is 529 (very, very poor). I have called some companies that specialize in debt consolidation and I have been told that I do not have “enough debt”. I talked to a professional about bankruptcy and was advised against filing because I do not have “enough debt”. I am a renter, and do not have any assets that could be held for collateral. With my credit score being the way it is, and closed accounts on my credit record… what are my options?
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Can I get an 850 credit score?
I have a visa credit card with a credit limit of 15K$
An Amex card with a credit limit of 10K$
I spend around $3k total on both cards in a month.
Before the due date, I pay off the entire amount -3k$ ( no finance charges ).
I don”t have any other loans.
My credit score is 690
How likely do you think that I will have a score of 850 in 2 years with this pace?
Is the high credit limit a factor in my score ?
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