how can i get my credit report if i don’t have a credit card?
Posted in Other - Internet on 03/09/2011 05:36 pm by
Archive for March, 2011
How Inquiry Removal Can Help Boost Your Credit Score
Posted in Finance on 03/08/2011 10:11 am by
Chris Robertson asked:
Your credit score plays a crucial role in your ability to obtain a loan, whether it is a small personal loan, an auto loan, or a home or business mortgage. New credit (or your pursuit thereof) is one of the main factors that determine your score. When your credit score is being calculated, then the most recent credit on your report will account for about 10 percent of your score. Within that “new credit” category, there may be what’s called hard credit inquiries. That’s why inquiry removal can greatly affect your credit score in a positive manner. Let’s explore how this works.
Credit Inquiries Explained
A credit inquiry is displayed whenever a business (with permission according to the federal Fair Credit Reporting Act) requests a copy of someone’s credit report. Some inquiries called “hard inquiries” will count against your credit score, while others called “soft inquiries” will not. Hard inquiries are those created when you actively apply for new personal credit, whether it is through a bank or credit union, credit card company, finance company, or even a retail outlet. These are inquiries that result when you need to borrow money for credit cards, mortgages, car loans, furniture purchases, high-end electronic purchases, boat loans, etc.
Your credit score plays a crucial role in your ability to obtain a loan, whether it is a small personal loan, an auto loan, or a home or business mortgage. New credit (or your pursuit thereof) is one of the main factors that determine your score. When your credit score is being calculated, then the most recent credit on your report will account for about 10 percent of your score. Within that “new credit” category, there may be what’s called hard credit inquiries. That’s why inquiry removal can greatly affect your credit score in a positive manner. Let’s explore how this works.
Credit Inquiries Explained
A credit inquiry is displayed whenever a business (with permission according to the federal Fair Credit Reporting Act) requests a copy of someone’s credit report. Some inquiries called “hard inquiries” will count against your credit score, while others called “soft inquiries” will not. Hard inquiries are those created when you actively apply for new personal credit, whether it is through a bank or credit union, credit card company, finance company, or even a retail outlet. These are inquiries that result when you need to borrow money for credit cards, mortgages, car loans, furniture purchases, high-end electronic purchases, boat loans, etc.
Trying to fix Credit Problems, I need answers please?
Posted in Credit on 03/06/2011 07:34 pm by
LiL JJ asked:
My husband owes money to the electric company, which went into collection originally in 1998. He hasn’t paid it being the bill was actually in his fathers name, in which he past away in 1995, but the account was never changed over. The delinquent account went onto my husband’s credit in 1998 being him and his father shared the same name…. and my husband refuses to pay it being most of the high bill was from his father….
The collection stayed on his credit for the 7 years and then was resold to another collection company in 2004. Now his credit states it is scheduled to continue on record until Feb 2010.
MY QUESTIONS:::::
My husband owes money to the electric company, which went into collection originally in 1998. He hasn’t paid it being the bill was actually in his fathers name, in which he past away in 1995, but the account was never changed over. The delinquent account went onto my husband’s credit in 1998 being him and his father shared the same name…. and my husband refuses to pay it being most of the high bill was from his father….
The collection stayed on his credit for the 7 years and then was resold to another collection company in 2004. Now his credit states it is scheduled to continue on record until Feb 2010.
MY QUESTIONS:::::
1. Will this delinquent account be resold again for another 7 years?
2. Is this legal for this to be repeatably put onto his credit after so many years?
I just recently spoke with a reality company and the woman there explained to me that she just found out, if an account has been inactive for at least 3 years (examples: utility has not been in use, active and hooked-up, or medial treatment was given 3 years ago or longer) then it is against the law for the companies to report it to your credit reports again.
PLEASE HELP!
Jamie
Found this on my credit report. what does it mean?
Posted in Credit on 03/01/2011 09:55 pm by
first85135 asked:
First of all let me first say I was young and dumb at 18 and got credit cards beyond my mean .. I was working for a retail store so I got two retail store credit cards which I know the APR was up there. I am currently 23 and trying to fix my credit up cause in a year or two I’m looking to buy a house with my husband. When I checked my credit report I found this under a credit card …
First of all let me first say I was young and dumb at 18 and got credit cards beyond my mean .. I was working for a retail store so I got two retail store credit cards which I know the APR was up there. I am currently 23 and trying to fix my credit up cause in a year or two I’m looking to buy a house with my husband. When I checked my credit report I found this under a credit card …
Paid, was a collection account, insurance claim or government claim or was terminated for default.
What does this mean?? I never paid them (I think) .. and I think this is one of the retail store credit card.
My current debt according to my credit report is $1900.00 .. my credit score is really bad at 528. If my husband whom is good with making payments to his cards .. put me on his cards as a second card holder .. would it improve my score?? will it lower his score??
Thanks in advance!!
And another thing it says that a different credit card was transferred to collections but it does not show the collections acct .. how would I get this infomation?
And another thing it says that a different credit card was transferred to collections but it does not show the collections acct .. how would I get this infomation?
Marilyn
“Charge offs”! they say that they last 7 years on your Credit report, for me that’s next year should i wait?
Posted in Credit on 03/01/2011 09:13 pm by
magical asked:
I want to seriously start fixing my credit. However I have 3 ‘charge offs’ on my credit history since 2001. Do you recommend me holding off until they get erased next year (7th year) and…Would they really get erased???? please help!!!
Gail
I want to seriously start fixing my credit. However I have 3 ‘charge offs’ on my credit history since 2001. Do you recommend me holding off until they get erased next year (7th year) and…Would they really get erased???? please help!!!
Gail
Getting A Low Rate Auto Loan
Posted in People on 03/01/2011 06:59 am byFlint454585 asked:
If you are in the market for a used car loan, be prepared to negotiate a good deal. Initially, car salesmen try and convince prospective buyers to agree to a huge sales price and interest rate. Of course, this maneuver does not serve to your advantage. Instead, it boosts the dealerships profit margin. If you have good credit, you are in a position to negotiate a better deal. However, if you have a low credit score, here are a few tips to help you obtain a low rate auto loan. Boost Credit Score and Rating Before offering a low rate for a used auto loan, the dealership or financial institution will review your credit report. Credit reports indicate our credit worthiness. If you have several past due or missed payments, lenders will consider you a terrible applicant. If you are approved for credit, the lender will not offer you a low rate. Improving your credit is the best option for getting a low rate used car loan. Although lenders will approve an applicant with bad credit, the fees, rate, and terms are awful. To avoid paying higher fees, delay the car buying process for at least six months to a year. Take this time to boost your credit score. To begin, review your personal credit report. If you have past due or unpaid accounts, contact the creditors and schedule payment arrangements. Plan to reduce your debt to income ratio. Furthermore, pay all your creditors on time, and never skip payments. Get a Co-signer or Down Payment If you have bad credit, having a co-signer is a …
Antonio