I have tried applying for loans and cards. How can I fix my credit?
Question by ravenous_person: I have tried applying for loans and cards. How can I fix my credit?
I’m gonna get a Verizon phone, will a cell phone fix the bad credit I have? The loan I applied for said I had “no established credit” But I did have something in collections. It is listed as Paid.
Best answer:
Answer by Cold
Cell phone do not report your payments to the credit bureaus.
Therefore they do not bring any benefit to your credit.
Consider getting a secured card.
You drop about $ 500 to $ 1,000 into an account and get a debit card to use against it.
Replace the money in full each month – no games.
Only a small percentage of these cards are turning into credit cards.
People that get them usually have bad credit, and can’t seem to be able to pay in full each month for what they use.
Use it wisely – it will reward you with good credit in a couple of years…
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How much does your credit score go down when applying for a mortgage?
Question by Mirage: How much does your credit score go down when applying for a mortgage?
I want to look around for the best deal but if I shop each place will want to check my credit. This will lower my score each time. How much does it lower my score and how can I avoid this so I can find the best deal?
Best answer:
Answer by Brenda M
Hi Mirage:
what you are saying is accurate ~ if you go “shopping” for a mortgage, each of the lenders will do a “hard hit” (is what it is called) on your credit bureau.
One thing would be to go to the one or two places that you believe are your best place to get what you are after and only experience a couple of hits.
Also, ask the first one for a copy of the credit report (they might say no :):)) ~ but it doesn’t help to ask. Rarely, yet occasionally you’ll find a lender that will accept your copy when they see it is (say) 2 days old.
Very astute of you to be paying attention to this ~ congratulations for that. Continue to pay attention as time goes by ~ it’s important for your life and building your credit relationship with the world
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Credit Protection: Learn Your Rights In Applying For Credit, How To Build A Good Credit History, How To File A Complaint, And More
Credit Protection: Learn Your Rights In Applying For Credit, How To Build A Good Credit History, How To File A Complaint, And More
Credit is a convenience. It lets you charge a meal on your credit card, pay for an appliance on the installment plan, get a loan to buy a house, or more. With credit, you can enjoy your purchase while you’re paying for it, or you can make a purchase when you’re lacking ready cash.
But there are strings attached to credit as well… it usually costs something, and what is borrowed must be paid back.
To protect consumers from unscrupulous creditors, consumer credit protection has been written into the U.S. laws, and:
– bars unfair discrimination in credit transactions
– requires that consumers be told the reason when credit is denied
– lets borrowers find out about their credit records
– sets up a way for consumers to settle billing disputes
More specifically, did you know:
– you cannot be denied a credit card just because you’re a single woman
– you can limit your risk if a credit card is lost or stolen
– you can resolve errors in your monthly bill without damage to your credit rating
– you cannot have credit shut off just because you’ve reached age 62
It is important to know your rights and how to use them. This guide explains how the consumer credit laws can help you:
– shop for credit
– apply for credit
– maintain your credit standing
– complain about an unfair deal, and more.
Take advantage of the information in this popular guide and be prepared to get the most out of credit.
List Price: $ 0.99
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How much will my credit score go down by applying for a new card?
Question by stuinblue: How much will my credit score go down by applying for a new 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 cards a few years back 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 ding my credit in the short term? And how long will the point drop last?
Best answer:
Answer by withluv7
Usually it goes down by a point or two.
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