How closing a credit card account (1 month of use only) can influence in my credit score.?

I opened a credit card account a month ago and I misunderstood the policies. I want to pay the bill and close the account. I need to know how that affects my credit score and how bad it is to my credit, to try getting another credit card soon.

How closing a credit card account (1 month of use only) can influence in my credit score.?

We used to tell people to close accounts they weren%26#039;t using. Now here%26#039;s the word from direct from Craig Watts, an executive at Fair Isaac %26amp; Co., one of the leading credit scorers: %26quot;Closing accounts can never help your score, and often it can hurt.%26quot;

This knowledge is frustrating to those who want to simplify their lives and reduce the opportunities for identity theft by closing unused accounts. But credit facts are credit facts.

Shutting down credit accounts lowers the total credit available to you and makes any balances you have loom larger in credit score calculations. If you close your oldest accounts, it can actually shorten the length of your reported credit history and make you seem less credit-worthy.

Check out www.creditcardappfinder.com for more articles on credit cards, credit scoring, and personal finance.

How closing a credit card account (1 month of use only) can influence in my credit score.?

If you have paid on time and don%26#039;t have negative reporting on the card, it will not hurt your credit to close the card. It can help your score if the card has a high limit (relative to your earnings and assets).

How closing a credit card account (1 month of use only) can influence in my credit score.?

Closing a credit card is no problem. It does not go against your score. If you defaulted on an accout and the credit company canceled you - now THAT would hurt you.

How closing a credit card account (1 month of use only) can influence in my credit score.?

A lot of people do that but it does NO good.. I have a score f 820 on my credit.. but it could have been higher IF.... I had paid the outstanding on one of my credit cards..I only use one credit card at a time.. I spend/credit spending to a card and in one month, I get the bill and I pay immediately.. BUT during that month when I have NOT YET been given the bill, it is counted as a debt by the credit card agency.. IF I had paid in advance so that I owed NOTHING to the card company, I would have gotten a perfect score.. SO..be sure that you pay in advance for that month prior to anyone asking for the credit report number.. for example, you buy in January, some things.. totaling $1,000. At the end of the month, the credit card company will send you a bill to pay the $1,000 within 15 or so days... But during that time, if a credit report is asked for, it Will be counted that you have an outstanding debt of $1,000.. So.. it is best to make sure that you owe nothing when the credit report is asked for.

How closing a credit card account (1 month of use only) can influence in my credit score.?

i dont know EXACTLY...but the same thing happened to me...and i was told its better to just NOT cancel it and just dont purchase anything with it. maybe it just looks bad, as in like you cant afford it kinda thing? i dunno

How closing a credit card account (1 month of use only) can influence in my credit score.?

I was told by a credit counselor to pay off the card first, then cancel it. If you cancel before it is paid off, it can look bad on your credit. The more inquiries you have on your credit by creditors, the lower your score can be brought down. For example, if you apply for credit 5 times in a short period of time it will be bad.

How closing a credit card account (1 month of use only) can influence in my credit score.?

One of the %26quot;many%26quot; formulae that Fair Isaac (the FICO score people) use is % of credit available to % of credit used.

If your balance is zero and the account is open, then this part of the algorithm will give you a higher score.

If you close the account, this part of the algorithm will give you a lower score.

If you have many cards open with little or no balances, that gives you a higher credit score, because of this ratio -

Opening and closing credit card accounts lowers your score. Better to open the second account, and then, if you need to, close the first account.

How closing a credit card account (1 month of use only) can influence in my credit score.?

That%26#039;s a loaded question. Did you max out the card in one month?

If you did, you will be viewed as a bad credit risk. If you can, pay it off very quickly while not adding anything while you are paying it off and then use it very wisely.

Having a credit card does not mean that you must use it indiscriminatingly. Use it monthly to the extent that you can pay the bill in full each month. It is good discipline to start.

You have to have credit and use it competently to develop a credit rating. It is the madness that folks get into that ruins their credit.

How closing a credit card account (1 month of use only) can influence in my credit score.?

Ideally, your total debt (of all the credit cards together) must not be bigger than 30% of all the credit extended to you (all the credit lines given to you.) So if you close one account, this will decrease the total credit given to you, and increase the percentage of your debt relatively to the total credit. Because the closing of an account will decrease your total credit and therefore increase the percentage of your total debt, it will negatively affect your credit score IF the new debt percentage will be over than 30% of your new (decreased) total credit. If so happens, you can always easily improve your score by opening new credit card. This way, your total credit will get increased and this will decrease the percentage of your debt. As long as your total debt is below 30% of the total credit given to you, you will be alright.

How closing a credit card account (1 month of use only) can influence in my credit score.?

If you pay your bill you can close your account.

However...

1) If this is your first credit card, do not cancel the account. This is a gem of a tip. I%26#039;ll say it again. NEVER CLOSE YOUR FIRST ACCOUNT. Especially if its in good standing. Its your first and most established credit account going forward. It will help

Simply keep a zero balance (or buy something between $20-$100 every couple of months and pay it off that very month - this will help your score).

2) If you want to get another card, wait a few months. What counts against you is how many times your credit report has been looked at. Too many inquiries and you start looking risky.

3) If you plan never to use it and there is no annual fee. Just let it sit and use for emergencies. You can ask that the credit limit be reduced so that you don%26#039;t get %26quot;tempted%26quot;. If there is an annual fee, consider asking them to convert you to another credit card that they offer, that doesn%26#039;t have an annual fee.

Hope this helps!

What is the minimum credit score needed in order to obtain a mortgage for a house?

Just curious to know what type of credit score/history lenders look for when approving people for a mortgage.

What is the minimum credit score needed in order to obtain a mortgage for a house?

It has gotten alot tougher recently with the subprime mortage fallout, and continued high foreclosure rates. It has spooked lenders, and caused them to be very conservative.

The average credit rating right now is around 700, so you are going to want at least a 600. Expect also to put down 10%, and show proof of stable income.

Worth noting, you might be able to get away with having one criteria lower, if you can compensate with something else. Like if you are credit rating is only 550, but have 30% down, they will probably work with you.

Best of luck with your search.

What is the minimum credit score needed in order to obtain a mortgage for a house?

I am a mortgage lender in the subprime market which means I lend to people with less than perfect credit. Most lenders will go as low as a 520 or 500 credit score. The only other option if your score is below that is a hard money loan which will reguire alot of equity and you also will pay through the nose in fees but there is no minimum score requirement. Hope this helps!

What is the minimum credit score needed in order to obtain a mortgage for a house?

Most lenders will give you some sort of a mortgage if your credit score is 550 or higher although there are those that will go down to as low as 525.

The lower your score, the bettere your interest rate will be and the lower your payments as well! You really need to start looking into cleaning up your credit report and boosting your score!

I did it with help I got from this website below. My credit scores were an awful 480 and I got it up to 709 in one year! This site is great at explaining all this in simple terms and details and I recommend them!

You need to get the RSS feed to since you really need to learn how to avoid credit repair and this is the best way how, learning how to fix mistakes and challenge your negative items in your credit report!

What is the minimum credit score needed in order to obtain a mortgage for a house?

If you are looking for a mortgage, the first thing you should do is to make a mental note to yourself...NO SUB-PRIME LOANS!!!

I have never had a need to put anyone in such a situation.

Go with FHA.

Easier to qualify for than VA, and many sub-primes. Near conforming rates.

The trick is, finding a loan officer, originator, mortgage broker, or banker in your area that knows anything about the simplicity of the FHA Loan.

If somebody has no credit score can they get a car loan?

If somebody has no credit score can they get a car loan

If somebody has no credit score can they get a car loan?

Auto finance is what I do for a living and the answer is yes you can.

Find a dealer that advertises Special Finance and go talk to the Manager they will be able to help you.

There are several lenders out there that have first time buyers programs.

If somebody has no credit score can they get a car loan?

Car Loan Guide: http://carloan.autoonlineguide... Report It

If somebody has no credit score can they get a car loan?

The car lender would have to accept other forms of payment history like phone bill, rent, etc. Otherwise I don%26#039;t think so. Contact a car lender and find out!! Good luck.

If somebody has no credit score can they get a car loan?

Sometimes dealerships will offer you onsite financing. The interest rate will be high though...15% or more.

If somebody has no credit score can they get a car loan?

probably with a co-signer

If somebody has no credit score can they get a car loan?

Sure! If you can show up at a car dealership with $15,000 in Cash- you can buy a $15,000 car. :)

If somebody has no credit score can they get a car loan?

Yes, with a larger down payment - MONEY talks loud.

Yet you should consider not using credit

You want FINANCIAL FREEDOM! http://www.crown.org/

Get a used GREAT car, smaller down payment, pay it off, save more money for Emergency funds and financial freedom.

http://www.daveramsey.com/

https://www.mytotalmoneymakeover.com/ind...

You will find help to do this in your area. Commit to FREEDOM, not like the pits we others are in.

Get info on what career you should find the path into.

http://www.careerdirectonline.org/

Save your LIFE!

If somebody has no credit score can they get a car loan?

If you could get such a loan the amount would probably be less and the interest a lot higher.

You probably do have a credit score if you have had any loans or perhaps even a bank account. It would be quite low.

You should establish credit in your name either through loans, credit cards, bank accounts, and payment of bills such as telephone.

If somebody has no credit score can they get a car loan?

better to get bus tokens

If somebody has no credit score can they get a car loan?

Chances are the car dealer will require a co-signer on the loan, someone with credit. My ex had no credit because he didn%26#039;t own a credit card, they required a co-signer before they would sell him the car because they said he wouldn%26#039;t be able to get fiananced.

Go and get a store credit card, Target, Macy%26#039;s, Dillards etc, they will send someone with no credit a card, it%26#039;s how I started my credit. Purchase something on the card and pay it off, do this for a couple of months, dont%26#039; pay the entire bill just pay the minimum due for a couple of months and develop a credit history. Just don%26#039;t go nutty.

If somebody has no credit score can they get a car loan?

Not without a co-signer and some money to put down.

Do you have any idea what your credit score is?

I was some what afraid to look up my credit score but I did and it%26#039;s 699. Not exactly hittin%26#039; home runs out of the ball park but it%26#039;s fair. Are you brave enough to find out what your credit score is? :)

Do you have any idea what your credit score is?

My average score is 809. (814 is the highest of the three scores)

699 is respectable. Just keep up to date with all payments and your score will go up over time.

I think riblix (below) got rejected on a loan to buy a pack of gum.

Do you have any idea what your credit score is?

I looked it up about 6 months ago and it was in the 800s. We had no problem buying a car. They told me to go ahead and take it home and we would fill out the paperwork later in the week.

Daughter had totalled my car (she was not hurt) and I needed a car for work.

Do you have any idea what your credit score is?

It was over 780 when I was applying for mortgages. I don%26#039;t know what it is right now.

Do you have any idea what your credit score is?

No but I would love to find out since we want to get a mortgage.Don%26#039;t know how to find out in Canada though?

Do you have any idea what your credit score is?

no idea and dont really care. fico scores only matter to people who want things they really cant afford and have no business owning the item. the biggest financial downfall is trying to keep up with the jones%26#039;.

Any good business loans out there with low credit score but good equity?

My wife and I have lots of credit card debt that we got building our business this brings our credit scores down But we have lots of equity in our business property there is no mortgage on the business property or equipment. This totals about $200,000+ value, we would like a loan of about $50,000 value Seems like local lenders do not want to help because we are self employed and our credit score any ideas out there!

Any good business loans out there with low credit score but good equity?

If you are individual, who has an entrepreneurial spirit, you can easily get a loan offered by the federal government. This loan allows you to start a small business. The department of Small Business Administration (SBA) acts as a guarantor for these loans. These loans are provided by banks or financial institutions. Very rarely, the SBA provides the loan directly.

Along with the SBA, certain other government agencies provide financing to small businesses through loans and grants.

Can cutting up three of my 8 credit cards help my credit score?

I%26#039;m trying to boost my credit score and there are a veiw cards that i have that i no longer want can i cancel them and have the credit comapany bill me, and will that help my credit score? the cards or dillards, visa, and mastercard. Help!

Can cutting up three of my 8 credit cards help my credit score?

Don%26#039;t cancel the cards just don%26#039;t use them. The longer u have the cards the longer you have history. and that will help your score

Can cutting up three of my 8 credit cards help my credit score?

If they%26#039;re not the three oldest cards you have. Part of your credit score is your debt to credit ratio (how close to maxed out are you?) and long term relationships with the same creditors.

Can cutting up three of my 8 credit cards help my credit score?

Pay them off, cut them up, don%26#039;t use them, do not cancel them, as it will appear that you are a risk, and lenders do not like that. Use the card and the zero balance as a good credit reference in the future.

Can cutting up three of my 8 credit cards help my credit score?

A part of the factors that make up your score is the number of accounts you have and how long they have been open! I wouldn%26#039;t cancel any cards until you pay them off at least or your creditors are going to want the total balance now.

If your score is low, begin making improvements by paying down your debt first. If you are using more than 50% of your available credit, this will make your score go down.

Look, go to my website and read it all because I know you will benefit from my experience! I had my ID stolen and went into bankruptcy and I still got my score up from 486 to 730 in a little over a year, so this is something I know about!

You would benefit from the %26quot;how credit scoring works%26quot; section too!

Can cutting up three of my 8 credit cards help my credit score?

cut up and cancel all of your cards.

Dont worship at the alter of the almighty fico ( I Love Debt) score. And that is exactly what it is. I love debt. You have to borrow money and pay it back on time to get a high fico score. You have to keep borrowing money and paying it back to keep a high I love debt score.

The only people that obsess with the I Love Debt score are the ones that plan on borrowing lots of money and paying lots of interest.

Pay as you go and live on less than you make. You will win with money.

Live Debt free! its a great feeling!

Borrower is definitely slave to the lender!

morning Duane.

Can cutting up three of my 8 credit cards help my credit score?

You cannot cancel any cards unless you have a zero balance. You will hurt your score by cancelling them. So, cutting up the cards is only half the solution. Make sure you have zero balance on them as well.

Keep the accounts open but cut up the cards to not use any longer.

Do cellphone companies check credit score if you buy your phone and plan online?

when i go to verizon or cingular online and if i wanna buy a cellphone online fo they check credit score?

Do cellphone companies check credit score if you buy your phone and plan online?

Yes they do check, however depending on your credit, heres what we are talking. (BTW I work for Att) if you are 18-25 with NO credit its normally $125-175 depending on location, 18-22 with decent credit, no prior problems in credit, $50-75, or 22+ with decent or great credit, there is normally no deposit charge, but dont let that deposit scare you it actually works in your favor, after a year of paying your bill on time, the deposit money is credited to future bill statements.

Do cellphone companies check credit score if you buy your phone and plan online?

yes they do. If your credit score is too low, theyll ask you to put down a deposit in order to open an account. The deposit is usually $500 dollars.

Do cellphone companies check credit score if you buy your phone and plan online?

i have heard of deposits as high as a thousand bucks. the iphone created alot of %26#039;deposits%26#039; during activation process.

If I have a credit score of 588, and a closed account will be removed soon, how much increase can I

my credit score is currently 588, I have an account that was late for 5,000 years ago and it will be removed within the next month, how much improvement should I expect to see?

If I have a credit score of 588, and a closed account will be removed soon, how much increase can I expect?

It depends on far too many factors... you may actually LOSE points because you may jump from one scorecard to another.

The following are notes from Liz Pulliam Weston%26#039;s book %26quot;Your Credit Score: How to Fix, Improve, and Protect the 3-Digit Number that Shapes Your Financial Future%26quot;

**YOUR CREDIT SCORECARD**

If the credit history only shows positive information, the model takes into account the following:

- The number of accounts

- The age of the accounts

- The age of the youngest account

If the history shows a serious delinquency, the model looks for these:

- The presence of any public record, such as a bankruptcy or tax lien

- The worst delinquency, if there%26#039;s more than one on file

* After the model has this information, it decides which of the 10 scorecards to assign. Although Fair Isaac keeps the details pretty secret, it%26#039;s known that there is at least one scorecard for people with a bankruptcy in their backgrounds, and another for people who don%26#039;t have much information in their reports.

* Grouping people this way is supposed to enhance the formula%26#039;s predictive power. The theory is that the same behavior in different borrowers can mean different things. Someone with a troubled credit history who suddenly opens a slew of accounts, for example, might been seen as a much greater risk than someone with a long, clean history. Scorecards allow the FICO formula to give different weight to the same information.

* You can lose points as you transition from one scorecard to the next... The negative items on your credit report will get you assigned to a certain scorecard, but your efforts to rebuild your credit -- making payments on time and using credit responsibly -- will help you rise to the top of that scorecard group... When the negative marks disappear, you%26#039;ll be transferred to another group with tougher standards.

* Fair Isaac says its NextGen formula eases this issue by segmenting borrowers into finer groups, which should lead to less dramatic tumbles from one group to the next.

How do raise your credit score fast for buying a house.?

I live in new jersey and i want to move to california only i dont want to rent is there a way i can raise my credit score so that i dont get stuck with a high rate mortgage. Also does anyone know the process of buying a house my friend in california works for a mortgage company but id like to know the steps myself

How do raise your credit score fast for buying a house.?

You can%26#039;t raise a credit score fast. It takes time in paying bills on time. Bad credit items stay on your credit for 7 years. It just takes time.

How do raise your credit score fast for buying a house.?

Have u talked to credit union or bank or credit report bureau in your state? What about a %26quot;no documentation%26quot; mortgage?

How do raise your credit score fast for buying a house.?

How low are your scores? Do you know your scores? What caused them to fall in the first place?

Send me an email and I%26#039;ll give you a First time Buyers Kit for your reference kenneth_knapp @ yahho.com.

You may need assistance in getting your scores up. I suggest working with Lextington Law: http://www.lexingtonlaw.com/Home.php?tid...

These guys are attorneys who specialize in fixing issue son your credit report. But you need to pay all bills on time and if you have maxed credit cards pay them down to 50% or less of their total limit.

I can pull a tri-merge credit report for you for free and run an analysis for you based on your situation. Let me know if you need help.

I am in Southern CA and a mortgage broker by profession.

How do raise your credit score fast for buying a house.?

You suppose to fix your bad credit if you have any, 6 months before purchase a house or any large ticket items.

That should give you enough time. At the meantime, you can start looking for a house, but don%26#039;t buy it yet until all your credit are clear. Your credit scores should emprove by that time.

How do raise your credit score fast for buying a house.?

The great news about buying a home today is that you can get a mortgage one day out of discharged bk! Unfortunately there%26#039;s really no quick fix to raising credit scores. :( You can get a 100% loan at around 7.375 80% with a 20% piggy back at around 10%. Another option is to get a 1% interest only loan if you put 20% down... There are tons of options. Check us out and get prequalified to buy your home so you know exactly what to look for when actually choosing a home to buy...

What is an average credit score?

CREDIT SCORE OF 300-850

What is an average credit score?

500-675

What is an average credit score?

You have a credit score between 300 and 850? That%26#039;s a pretty wide range, sort of hard to measure against the average. More detail?

What is an average credit score?

676

What is an average credit score?

www.myfico.com says the median credit score in the U.S. is 723.

That means 1/2 the people have a higher score and 1/2 the people have a lower score.

I haven%26#039;t found an %26quot;average%26quot; number I believe.

Good Luck

What is an average credit score?

The average credit score of US citizens is around 670. To find out more on credit scores and credit in general you cna visit sites such as experian, transunion, or equifax.

Is 620 an okay credit score?

My fiancee has a credit score of 620. Is that good/bad/medium? Not sure. Any help or info would be appreciated.

Is 620 an okay credit score?

620 is about the minimum middle score you can have to qualify for a mortgage.

It is below the national average which is 675.

Is 620 an okay credit score?

It%26#039;s below average, but not too bad. The average credit score is around 670.

Is 620 an okay credit score?

620 is considered low. I work in credit. If we have customers who have this low credit score, they may not have good rate.

Your fiancee needs to build his credit score higher so he can get the benefits down the road.

Is 620 an okay credit score?

Most credit scores will range from 600-750, good credit is usually anything that is higher then 650. Moderately good credit is between 620 and 650 and bad credit is anything less then 620. For more information on credit scores you should refer to this site: http://credit.privacymatters.com/credit-...

If you would like more information on your credit score and your marital status you should read through this informative article: http://credit.privacymatters.com/credit-...

Is 620 an okay credit score?

it not bad but not great. just to give you an idea

701+ platinum credit

651-700 a credit

626-650 b credit

600-625 c credit

599 or below failing

I have very bad credit score! I paid all my debts to creditors. What can i do more for taking back m

How can make my credit score better?

I have very bad credit score! I paid all my debts to creditors. What can i do more for taking back my life?

Ignore the credit repair option it can work but it can also be expensive and unreliable, so get into good habits do it yourself for minimal expense.

The first thing to do is contact Experian, pay the 鎷? fee and get a credit report on yourself.

This will list all the detail you need to tidy up your score.

If you had section 9 notices from credit card agencies these will be listed. These notices normally stay for 7 years, if you have paid in full and write to the companies they can remove them from your credit rating. Be aware however that this is goodwill on their part not your right, so you can%26#039;t demand they do so, so ask nicely.

CCJ%26#039;s are listed if you have them, they can%26#039;t be removed but once paid you can obtain a certificate of satisfaction from the court and this will be attached to the record.

Summons to court are also listed, if you paid before judgement you can ask the issuer to write to the court to remove them.

Having cleared up the past don%26#039;t keep applying for credit at different places, every application is listed and it reduces your score.

Keep up to date at all costs with any current liabilities, every time they send you a reminder, it goes on your record for 12 months.

Assuming yiou get the previous history removed and keep clean for 12 months your history is just that

I have very bad credit score! I paid all my debts to creditors. What can i do more for taking back my life?

JUST KEEP PAYING YOUR BILLS ON TIME, IT WON%26#039;T HAPPEN OVERNIGHT, I HAVE THAT SAME PROBLEM , BUT ITS GETTING BACK UP. GOOD LUCK.

I have very bad credit score! I paid all my debts to creditors. What can i do more for taking back my life?

look into having a credit repair done, there is a charge for this service, but it is quite legal, and works by legally removing all the bad information on your credit records, has even though you have paid your creditors, information on previous debts can be kept for some years,and with a credit repair, all this is deleted.

I have very bad credit score! I paid all my debts to creditors. What can i do more for taking back my life?

you now need to contact exsperian and find out if it has all been cleared off of there data base if there are still things on it that you have paid you then go to that company and ask them to remove it and they will do that as long as it is paid also to help you get back a good credit record try and get a credit card i got on from vanquis and capital one even though i had BAD BAD credit rating and that helps you get back good marks

I have very bad credit score! I paid all my debts to creditors. What can i do more for taking back my life?

make sure the credit report companies know like experian so its showing you have paid ,

paying the phone bill on time and other bills helps if you do this on time .

even if you apply for a credit card like capital one and get accepted but make few purchases but pay at end of month the full ammount but dont get into debt im not saying blow the whole credit amount , this gets counted on your credit report and makes other companies see you are good at payments

I have very bad credit score! I paid all my debts to creditors. What can i do more for taking back my life?

don%26#039;t pay for credit repair they take your money and do very little if anything. the best thing is don%26#039;t apply for loads of credit at once. pay things on time and it will slowly build back up. i understand i have been there myself. and it will get better it just takes time

I have very bad credit score! I paid all my debts to creditors. What can i do more for taking back my life?

It takes a while, keep paying bills on time, never be late.

Check the link

I have very bad credit score! I paid all my debts to creditors. What can i do more for taking back my life?

you now need to contact exsperian and find out if it has all been cleared off of there data base if there are still things on it that you have paid you then go to that company and ask them to remove it and they will do that as long as it is paid also to help you get back a good credit record try and get a credit card i got on from vanquis and capital one even though i had BAD BAD credit rating and that helps you get back good marks

I have very bad credit score! I paid all my debts to creditors. What can i do more for taking back my life?

boy your screwed lol

What should I do to improve my credit score?

Here are the exact circumstances:

Everything is current and payments have been on time for more than two years.

I have one car loan with a balance of around 12K.

I have one CC with a balance of 4K (maxed out) and another one with a balance of 1K (maxed out).

I have 5 %26quot;derogatory accounts%26quot; on my report (they were 30 days or more overdue at one point in time), but are either paid off or current.

I have no collection accounts or public records.

I%26#039;ve already paid off 2 car loans.

My credit score is 590.

I want to get it to at least 680 within the next 3-6 months.

Is that even possible and what should I do???

Net income (income after taxes) is about 10K a month (it%26#039;s only been like this for about 2.5 months).

To anyone who spams YA with %26quot;you are not a FICO score%26quot; or %26quot;credit is evil%26quot;, please spare me.

What should I do to improve my credit score?

Your maxed out credit cards are probably your biggest blemish. You should absolutely use no more than half your credit limit on a card, even just a tenth.

Two may be too few credit cards to have. Three to four is optimal. Maybe find a good balance transfer deal and spread your balances out. Of course the inquiries necessary to get those cards will dock you a little temporarily, and you need to be eligible for the increase in credit, which you may not be with a 590 score. Or, if you%26#039;re able to pay off the loans, do so (though I assume if you could, you would have already).

Some places when you get your score will give you the top reasons why your score is not higher. That may help you.

But if you have income of 10k a month I%26#039;m wondering what you could possibly need credit for! Are you buying a mansion in San Francisco? Or did you mean 10k a year?

What should I do to improve my credit score?

lets get this right you owe a total of 17K an you make 10K a month an had late payments on 5 accounts, well it dont make any sense to me payoff your bills

What should I do to improve my credit score?

Pay off the credit cards and continue to pay them in full every month. Part of your score is based on your debt to credit line ratio. Those maxed out cards are killing your score.

Paying your credit cards in full every month should result in increased credit limits which will also help increase your score.

What should I do to improve my credit score?

Any credit card that is over 50% of the available credit line should be paid down to under half of your total credit line. Your credit score is lowered when your available balance is over 50% of your total credit line.

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

I am getting married in 2 weeks and we will be looking for a house to buy. I have excellent credit but my wife-to-be is a recent immigrant to the US so has absolutlety NO credit history whatsoever. How will our credit score be determined?

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

You will have to buy the house in your name only, using your score and employment history and income, since they will be looking at the previous 2 years employment history on each borrower, and if she just immigrated she has no verifiable work history to cover the past 2 years. In the mean time, you can add her to your credit cards as an authorized user to help her build a credit score after she has a social security card issued. I would recommend after a year of doing that, and assuming she has income, have her apply for a credit card on her own, or as a joint account with you to help her more.

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

best thing you can do is let her buy something and make some payments on it to build that up

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

just get the house in your name first then put her on ther later.. u should be fine

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

As far of getting her on the title of youse, is ok, but as a co-signer of mortgage, not.

To help her to get her own credit, please get some (3 credit cards where she would get additional cards on her name). Credit card will get approved by your score, but as far you will sign her as additional card holder, than the card will run on both credit burous. Usually she needs to have at least 3 credit lines on credit, so she can get score.

Other way, she can apply secured credit cards from the banks, but it takes your cash money to put down on it.

Good luck!

PS! If you are planning to buy house, than first things first get the house and mortgage, than extra credit cards if you need. Since applying extra credit before buying house gives you extra inquiries which lowers score and lower score leads higher mortgage interest.

After year or two if her credit has a acceptable score, than close those accounts and let her get her own cards only on her credit. (You do not want to be liable for credit defaults, if there are late payments for those credit cards, with additional cards attached on it.).

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

A lot of the posters have excellent ideas, I%26#039;d like to add some of my own. The quickest way to build her credit would be to add her as an authorized user on oldest credit cards. The activity and payment history will be merged with her report after a short period of time. From there, I would check where you or her does her banking and open up a secured credit card for her. These are the easiest cards to get because a deposit is required to establish a line of credit in the same amount of the deposit. This way, she can start buildling credit on her own, and it also serves as a way to establish a savings or nest egg. The deposit from the secured card is usually put in a savings account that gains interest while she would build her credit, and can be increased by adding to it which would also increase her credit line. An easy way to manage it would be to make small purchases every month which can be paid off in full on time every month. Usually after a year of perfect payment history, the deposit is refunded with possible interest added and the card would become unsecured.

Another thing since you mentioned that you were going to buy an house in the immediate future, another thing that you can do is report recurring monthly payments that are not reported on traditional credit reports like rent, utlities, cable, phone, etc. as good credit with PRBC.

PRBC is a consumer reporting agency that allows the general public to report these payments into a scored report that can be used in addition to traditional reports. Under the FCRA, a PRBC report can be considered when applying for potential credit. If your credit is excelllent, you can enhance it even more by showing a clearer picture of your payment history.

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

I would leave her off your loans until she has established a credit score. I have posted a source below to help you find the right card for her no credit situation.

Congratulations on your marriage!

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

Just to clarify, married couples do NOT have joint credit scores. Marriage won%26#039;t affect either of your scores.

What you want to do is build her score up quickly, so add her on a couple of your credit cards and let her make purchases and pay them. Meanwhile, if you need big loans, take them in your name so that you get a lower interest rate.

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

I agree with the posters who said that you should add her as an authorized user on your credit cards. When you add her, request that they report on her credit reports. Per the FCRA, authorized users %26quot;must%26quot; be reported if the AU is the spouse .

She will gain all of the positive history of those accounts.

Don%26#039;t add her to any cards that you may have had previous lates on or that carry a high utilization - unless you plan on paying the utilization down soon.

After your accounts start reporting on her credit reports, you might pull a myfico score on her to see where she stands.

Don%26#039;t pull her scores from other companies, use myfico only. All others are not true scores.

Since you are planning on mortgage shopping soon, hold off on having her apply for anything until after the mortgage is signed, sealed and delivered. She will already have good credit using your history as an AU and applying for and/or receiving %26quot;new%26quot; credit will only hurt at this point.

After you purchase the home, then she might try for her own credit cards. She would still be going off of your history, so she would probably qualify for prime cards.

If you aren%26#039;t comfortable with having her on your cards as an AU for a long time, you might start removing her after about a year. You might not remove her from all of the cards at one time, that will hurt her credit. Just slowly remove her at a rate of about one card every six months or so.

After adding her as an AU, there would probably be no reason to leave her off of the mortgage.

Congratulations to the both of you on your upcoming wedding. I hope the two of you have a long and happy marriage.

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

Add her to two or three of your cards that have the best payment history and the lowest carry-over balances (but are still being used monthly). This will give her instant credit. After a couple of months, have her apply for her own card. As long as the payments are made on time and the balance doesn%26#039;t hover around the limit, she%26#039;ll be golden.

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

your credit score won%26#039;t be affected since your good credit has already been established. It is better to have no credit than to have bad credit so I don%26#039;t think you will have a problem buying a house.

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

if you have good credit and the income you dont need your future wife to co-sign

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

your credit score will still be seperate from hers..... but i would def try to build hers up starting asap, get her a couple of cards... or the house can just go under your name, cause regardless if one has lower score then the other homeowner intrest will be higher....... build hers and try to see the different rates w/just u and then w/both of u. i used to sell cars and having no credit sometimes is just as bad as bad credit!!!!!!

I have excellent credit, new wife has NO credit history. How will this affect our credit score?

it will lower yours a little

no credit is better than bad credit

What is the minimum credit score to get a mortgage?

What is the minimum credit score to get approved for a mortgage?

What is the minimum credit score to get a mortgage?

Credit score is one thing, depending upon where you go

your score can be as low as 610 but numbers below

680 will pay a higher interest rate, meaning that based on

how much they earn they can only qualify for smaller amounts.

Your debt to income ratio is also very important, you are

better off if your D/I ratio is 30% or less. Other factors

are how much do you have for a down payment and

how long is your credit history.

You may want to go and get a pre qualification, see

how much you qualify for (this does not mean that you

will get the loan, it means that from what they see

on your statement, this is the amount you would

likely be able to get), once you know how much they

think you can get you can compare that to the current

prices around the area you wish to buy.

When you start to get real serious, you can put in offers

that ask for some assistance such as paying 1/2 of your

closing costs, carrying part of a down payment and so

on. Your real estate agent should be able to help you

out of this.

Good luck in finding your new home!!

What is the minimum credit score to get a mortgage?

There are lenders that will work with just about any credit score as long as you are prepared to put a down payment of up to 20% and/or pay a higher rate of interest. The better shape you can get your credit in before starting the mortgage process, the better rate and lower down payment you will get.

What is the minimum credit score to get a mortgage?

It depends on how large a down payment you have and what type of rate you want. I wouldn%26#039;t really suggest it, but there are hard money lenders that will do a mortgage with no credit score at all if you have enough equity,(30-35% down payment).

For the best rate and payments possible, and up to 100%, you want to be above 680. People with medium credit, (620-680) can get into a home with a minimum down payment of 3-5% and conforming rates. And, idividuals with 550-620 can get a decent rate, not convention, but decent, by puting down 10-20 percent.

So, as stated before, it really depends on how much you have to put down on the property.

How long does it take for my credit score to go up?

I just recently paid off and closed out a lot of debt I had, and now I am just wondering about how long does it take for that to show on my credit score? And how much will my credit score be effected by this?

How long does it take for my credit score to go up?

well, i hope you did not close ALL your accounts. part of your credit score is based on percentage of available credit. so if you have at least a $300 credit card and is empty then you have 100% of available credit. now you should put something (like a tank of gas) on it each month and PAY IT OFF. that way is shows resposibility. your credit score should go up in the next month or so. the only problem... any negative things that might be on your report. like late payments, defaults, etc. as time passes those items will automatically drop from your credit history. hope that helps.

How long does it take for my credit score to go up?

Well, it would help to know what kind of debt you paid off and closed out. If you had open accounts and closed them instead of continuing to use them lightly, that could decrease your score.

How long does it take for my credit score to go up?

I must agree with the other posters. You have not supplied enough information to answer this question correctly.

Whatever impact your actions will have, will show up as soon as the credit bureaus update their information.

How long does it take for my credit score to go up?

It can take up to 3 month to a year

How long does it take for my credit score to go up?

Hi,

You can obtain a report on your credit score from a third party to ascertain the current situation. You can get it for free. You can find more info on this from http://financeguru.consumerspot.info . Good luck!

How long does it take for my credit score to go up?

There%26#039;s really no way of knowing how long it will take to reflect on your FICO score, or how much it will bring your score up or down. Keep in mind that closing accounts that have had a long history can lower your score instead of raise it.

Will this help my credit score?

I have a verizon cell phone account I opened in 03 and had shut off later in 03..I still owe like 173$....They told me I can pay 100$ and do so in 4 payments of $25...when I do this will it help my credit score raise?

Will this help my credit score?

You have to pay the ENTIRE balance in order for it to be good on your credit report. Every time you miss a payment or don%26#039;t pay a debt, it shows negatively on your credit report. My advise is to pay off the ENTIRE balance, not just $100 of the balance, then, start paying off your debt on time, when the payments are due. Late payments show negatively on your credit report too. Don%26#039;t be late on payments and don%26#039;t NOT pay your debt off. That is the only way to keep your credit in the good. Remember, if you can%26#039;t afford to make the monthly payments, then you can%26#039;t afford whatever it is that you purchased. Live within your means. As far as the cell phone thing, you can always get a prepaid cell phone plan.

Will this help my credit score?

I don%26#039;t think it will help your credit score if it has already gone to collections before you pay it. It may look better to lenders in the future, like if you are trying to purchase a home.

Will this help my credit score?

No because it%26#039;s still showing up on your credit report as not being paid for years to come. You could take it upon yourself to write to all three credit agencies though and send them a letter, with a copy of a receipt showing that you paid the bill, asking them to correct your credit report. I don%26#039;t think that they will since it%26#039;s not an inaccuracy but it%26#039;s worth a shot.

Will this help my credit score?

Cell phone accounts do not report to the credit bureaus unless you do not pay them.

Will this help my credit score?

Yes, getting anything off of your credit is a good thing. It will take a couple of months to raise your points, but get everything taken care of that you can.

People who tell you it will not matter are wrong. Credit agencies like to see you making an effort - and you will feel better having it taken care of.

My boss is aking me to find a way to check the credit score of our customers. how?

Hi. My boss is aking me to check the credit score of our customers so we can decide if we can give them some credit. I tried serching the web but i might be typing the wrong words. I always get just individual know your credit score. Is there something that i can pay anually that I can check numerous accounts? And i know if somebody is checkin on you it affects your score. Is there a company that can asses the score but will not affect the scores of our clients? Thank you.

My boss is aking me to find a way to check the credit score of our customers. how?

The only way you can check their credit scores is by obtaining written consent from them. This is common when people apply for credit (check the applications for credit cards out). You would need to get an account with a credit reporting company (like Equifax), and they should advise you on what is needed.

My boss is aking me to find a way to check the credit score of our customers. how?

You will need to establish an account with one of the credit reporting agencies to get this information. Equifax, TRW are two of the agencies.

My boss is aking me to find a way to check the credit score of our customers. how?

You %26amp; your boss are INVADING these people%26#039;s privacy. Pulling their credit scores without their permission is illegal. You do not have their permission to check their credit scores. You need to tell your boss that he needs to get written permission from these customers first before pulling any information about their credit. Otherwise, be prepared for law suits.

My boss is aking me to find a way to check the credit score of our customers. how?

You can%26#039;t pull people%26#039;s credit without their permission because it can negatively affect their credit. Then you have to find a company that checks credit (there are many that aren%26#039;t the 3 reporting agencies) and pay them to do it.

My boss is aking me to find a way to check the credit score of our customers. how?

I can get you credit reports. Email me Smile4cobra@yahoo.com

I will show you the fastest, cheapest services you will find.

What is an avearge credit score?

Does anyone know the national avearge for a credit score? What is considered bad and what is considered good?

What is an avearge credit score?

Yes...a credit score of 620 is an average or good credit score...you would be able to qualify for most of the mortgages and loans if you have a credit score of 620...any score above 700 is very good and any score below 620 is not considered good....I know this because i have worked for a mortgage lender and i used to review borrower%26#039;s credit report and credit history....but as of now i am working from my home...

work@home expert

____________________

www.ourdebtfreelives.com

What is an avearge credit score?

692...is the average!! Anything below that is considered high risk!!

What is an avearge credit score?

Hi:

Anything below 620 is considered weak. Anything in the 620 to 680 or so would be considered fair while anything above 700 is considered good. Most %26quot;average%26quot; Americans would probably fall into the 650-700 range.

What is an avearge credit score?

According to Yahoos home page the national average is 692.

Bad is under 600, good is 625/675 very good 680/725 great above 725.

FICO reportable scores are from 300 to 850.

What is an avearge credit score?

You need to be over 700. Get your own credit score by paying fee at one of the credit bureaus and they will tell you exactly what is considered bad, good and excellent.

Try this website: http://www.equifax.com/home/

http://www.experian.com/

http://www.transunion.com/

These website also provides you score for other credit bureau.

Also check out www.myfico.com.

What is an avearge credit score?

Average credit score for Americans is 692. Usually they say %26quot;the news - they say%26quot; ..... 650.

Credit scores from 350-850.

Excellent credit begins with any range over 725.

:-) Have a great day. Patti

What is an avearge credit score?

To find out specifically what you must do to raise your score, you can order your score report from all three national credit bureaus. In addition to your score%26lt;!--you%26#039;ll get your credit report, an indication of how your score ranks nationally and an explanation of how you can boost your standing.

http://badcredits.awardspace.com/credits...

In order to improve your credit score, it%26#039;s important to know where you stand currently. Despite all the media attention given to free credit reports--%26gt;you still have to pay to find out your credit score, the three-digit number ranging from 300 to 850 that is the key to your borrowing costs.

Will apply for two Pre-Approved Credit Card Hurt My Credit Score?

Hi:

I just applied one of my pre-approved card recently; however, not less than 3 days I received another offer for another Pre-Approved card, and I believe this card provide more benefit than the previous card. Therefore, I was wondering will applying this card affect my credit score hardly since I have applied another one already? In addition, if I choose not to activate my previous applied card, will this hurt my credit score even I did not activate it?

Thanks for helping me

Will apply for two Pre-Approved Credit Card Hurt My Credit Score?

As the other person said yes it does bring down your credit score. I think its 2 points or so for every application and I think 1 point for inquiries. Inquiries stay on your report for 2 yrs. This is every time you apply it shows up. It looks like you are looking for alot of credit and are at risk for being in alot of debt. You can remove yourself from the preapproved mailings by using the opt out option. This is normally on the card applications that you get in the mail. You can also freeze your credit report so that no one can peak at it to send you these offers. You can go to the FTC site I believe..

Will apply for two Pre-Approved Credit Card Hurt My Credit Score?

I dont think it will hurt your credit score, you can do a free credit score check here, (its actually free I just did it) and find out once it gives you the results what the difference will be afterwards, many good articles here too http://www.mintcreditrepair.com

Good Luck!

Will apply for two Pre-Approved Credit Card Hurt My Credit Score?

Yes, everytime you apply for anything it diminishes your credit score.

Will apply for two Pre-Approved Credit Card Hurt My Credit Score?

Your score will probably go down but how much depends on a lot of factors. Two of the factors are length of credit history and new credit. If you have a short history and have just applied for two cards your score will drop a good amount.

Also, you applied and were approved for that other card so it will show up on your report whether or not you activate it. So I would just keep that one open and don%26#039;t use it.

I would not really worry about your credit score so much. If you do get both cards. Use them wisely by paying them off and keeping the useage under 30% of your total limits and your score will go up over time.

Will apply for two Pre-Approved Credit Card Hurt My Credit Score?

Applying randomly does hurt your credit score. Keep in mind, that a pre-approved credit offer doesn%26#039;t mean that you will get it for sure. Your application will still be analyzed by the bank. There are chances you won%26#039;t get approved for the offer. I would wait for the approval confirmation.

Having several credit cards is normal but you shouldn%26#039;t have too many. The effect of the second application depends on how many credit cards you already have and how well you are paying them off. You can read more on this issue at http://www.requestcredit.com/This-explos...

Will apply for two Pre-Approved Credit Card Hurt My Credit Score?

The only one who%26#039;s answered you correctly so far is %26quot;LC%26quot;

EVERY time you apply for something it dings your credit history. Legitimate lenders do not like to see people applying for all kinds of things because you don%26#039;t appear to them as someone who is responsible. They fear you will end up going to other places as well for loans and then you won%26#039;t be able to pay theirs. All these bastards that send these %26quot;Pre-Approved%26quot; cards should be fined. They have know business sending that crap to people they know will not qualify. You are simply on a purchased list and they hope people will apply. They don%26#039;t care who doesn%26#039;t get the card but they know some will. So your credit gets screwed and they nab a few more fish to screw over with their high interest rates.