Posts Tagged ‘card’

Credit Card Authorized user question?

Posted by admin on May 1st, 2012

Question by AmBeR:
Credit Card Authorized user question?
I am in the beginning stages of building my credit, so far so good. Today I just found out how to get my 1 free credit report a year. I have been wanting to figure this out to see how I am doing. Everything looks good, I have 0 potentially negative items and 3 accounts in good standing, which I have never been late on paying, very low balances and have had for almost 2 years…. EXCEPT I see I have THREE accounts in good standing, I find out that the third one is a authorized user on my moms credit card. This would be just fine with me if my mom and dad weren’t having financial problems right now, but they are. I see that the card hasn’t been charged for over 1 year and always had a low balance prior, but within the last 3 months she has been charging and only paying the minium payment. This worries me because I have tried so very hard to keep a clean record and I have very high goals to buy a house within the next 3-4 years. So then I did some more research and find out that as of 2008 FICO did not include authorized users in the scoring formula… Thank goodness!! BUT my question is… Why is it still on my Credit Report???????

Best answer:

Answer by SPIFIMAN1
Just because it is no longer used in scoring calculations has nothing to do with it showing on your credit.

As long as you are listed as a authorized user the usage and history will continue to report.

If you call and ask to be removed from the account (some will some will not) only the history will continue to report.

Know better? Leave your own answer in the comments!

Posted in get credit score free Tags: , , , , 2 Comments »

Can I transfer a line of credit at a high interest rate to 0% balance transfer card?

Posted by admin on April 27th, 2012

Question by Ryan H:
Can I transfer a line of credit at a high interest rate to 0% balance transfer card?
I have a line of credit at a bank at about 16% APR. Can I transfer that balance to a credit card to get a lower APR, or even a 0% APR using a balance transfer offer? I have a credit score of 650 (which I have read on the internet is considered “very good”).

Best answer:

Answer by Leonard Robertson Sr.
Yes, you should have no problem in doing so.

polrbear@ntl.sympatico.ca

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Posted in good credit score Tags: , , , , , , , 5 Comments »

Is there any place to get a free no credit card required CREDIT SCORE?

Posted by admin on April 27th, 2012

Question by sgtred223:
Is there any place to get a free no credit card required CREDIT SCORE?

Best answer:

Answer by Jennifer W
Use www.freecreditreport.com

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Posted in get credit score free Tags: , , , , , , 2 Comments »

Canceling a Credit Card?

Posted by admin on April 21st, 2012

Question by amzing10s:
Canceling a Credit Card?
Last time I checked, I have very good credit somewhere around 750. I’m not planning on needing any additional credit any time soon, but it is always good to keep your score as high as possible. I currently have several credit cards which I have owned for several years. I recently found a credit card that had a deal I couldn’t pass up (100K airline miles.) The card has an annual fee and I no longer want it, now that I have earned the miles.

So, is it better for me to cancel the card 2 months after getting it or waiting for the full year to be up? How much does canceling a card really hurt my score? Since I have good credit, can I do this stunt, of using the credit card promotions to get free stuff, or am I really hurting my credit? I know there is some magic formula, but any thoughts would be helpful.

Best answer:

Answer by autumn
If it has only been open a couple months and you had a great score without it, it shouldn’t make much difference to your score if you close it now, since you don’t want to pay the annual fee. You’ve already taken a minor hit to your score by opening it. Don’t wait a year, because then the account will have more history associated with it, and it could potentially hurt your score slightly more.

As a general rule, closing credit cards is a bad idea, but it your scenario, you should be fine. However, don’t make a practice of doing this kind of thing or it could lower your score significantly.

What do you think? Answer below!

Posted in get credit score free Tags: , , 1 Comment »

applying for a credit card is this a good score 716?

Posted by admin on April 20th, 2012

Question by JESSIE G:
applying for a credit card is this a good score 716?
i am applying for a credit card i am 34 with a credit score of 716 how good is this score to apply for a card?

Best answer:

Answer by sarah m
yes it is the highest you can get i think is 850 or 830 so your score is pretty good.

What do you think? Answer below!

Posted in good credit score Tags: , , , , , 2 Comments »

Even though you don’t have any credit card or loan how do you get credit score ?

Posted by admin on April 19th, 2012

Question by :
Even though you don’t have any credit card or loan how do you get credit score ?
If you not have any credit card or loan which you are repaying on time how can you get a credit score of more than 650?

Do you get a credit score and good credit history if you are married and your partner is paying there credit cards and loans on time and you are a name listed on their credit/loan accounts? and you have a joint bank account with your partner?

Best answer:

What do you think? Answer below!

Posted in good credit score Tags: , , , , , , No Comments »

Does having a Costco American express card hurt your credit score?

Posted by admin on April 18th, 2012

Question by :
Does having a Costco American express card hurt your credit score?
I read an article that says that having a retail-card credit card will take off 5 points out of your credit score. Does that apply to Costco American express cards as well?

Best answer:

Answer by Douche Bag
Having ANY credit card will affect your credit score.

Give your answer to this question below!

Posted in good credit score Tags: , , , , , , , 1 Comment »

I am 18 and my credit score is 691. I have one credit card. Is 691 is good credit score? ?

Posted by admin on April 18th, 2012

Question by Ashkan H:
I am 18 and my credit score is 691. I have one credit card. Is 691 is good credit score? ?
I pay the full amount every month and have never been late. How can I improve my credit score?

Best answer:

Answer by Victory A
The score of 691 is often referred to as good credit history. The best way to improve your credit score is making timely payments, making more than minimum payments and sticking to your credit limit. However, you can apply for another credit card just to add some positive records in your credit profile. of course, you should be sure you will be able to handle it.
According to my personal experience, it is always safer to apply for a credit card you are sure to get. Your credit score is closer to fair credit than to excellent score, so I would recommend you to take one of plastics for average credit, for example those presented here http://www.requestcredit.com/Fair-Credit-Card-Deals-856018-page.php
Also, as your credit score is quite good, the bank will provide beneficial terms for the card you applied for.
Best of Luck!

What do you think? Answer below!

Posted in good credit score Tags: , , , , 2 Comments »

If I totally paid off my $500 doller credit card In one payment. How many points will my credit score go up?

Posted by admin on April 18th, 2012

Question by Jasmine:
If I totally paid off my 0 doller credit card In one payment. How many points will my credit score go up?

Best answer:

Answer by RH
not at all. it’s not your level of debit, it’s how you’ve managed it and the track-record you’ve got making payments. it’s more important to make payments on-time.

Give your answer to this question below!

Posted in good credit score Tags: , , , , , , , , , No Comments »

Is A Credit Card For Bills Only A Good Idea?

Posted by admin on April 17th, 2012

Question by cece1012003:
Is A Credit Card For Bills Only A Good Idea?
I was at work the other day, and one of my customers told me that he uses a credit card for paying bills only. He also said that he’s able to get frequent flier miles on it and can take a vacation practically for free, but that’s another story.

Anyway, every month when I pay my bills I end up spending money for money orders, postage, and bill payment services. Because I don’t have a checking account (overdraft collection fees), I can only use money orders. Using those are a pain, and I find myself running all over the city paying for my bills every month. Plus most of the time they take a few business days to push through on top of mailing them.

A few years ago I had a credit card, but bad habits landed me in debt and with bad credit. I was wondering if this was really a good idea. I’m positive I won’t live beyond my means like last time, and I would like to improve my credit score as well.

Would pursing a credit card, sorely for bill-paying purposes only more be beneficial than troubling? Any helpful advice would be most appreciated.

Best answer:

Answer by Christopher
I use my card and I pay it off when the bill comes in! That’s the key pay it in FULL when your bill come in. If your not able to do that then it’s not worth it at all, the interest will drown you. So you know your financial situation and how much your monthly bills add up to, just do the math…

Know better? Leave your own answer in the comments!

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Posted in get credit score free Tags: , , , , , 2 Comments »
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