Expand All/Contract All
College Student, ruined credit alrea...
IS there anyway possible that i can repair my credit?I had applied to an number of banks for student loans, and lines of credit so i could gather the needed finances to purchase a laptop, travel to Louisiana, and cover any other incidental costs, I kept getting denied, even though most of the loans were specifically designed for college students with no credit.I check my credit and find that I have a collection agency for Verizon claiming that I owe $357 in august 2006I wasn't even 18 then, how could I have an account with verizon, currently its under investigation because I disputed it, it wasnt me who made that transaction.Like I said, is there anyway to repair my damage... Read More
Hello! I am 19 years old, ive had a credit card for 2 years and have never missed a payment, I accidentally gave my information for what i thought was a discount card, and when I discovered it was in fact a credit card, I called the account holders and cancelled the account, it had a zero balance and was never charged. How is this going to effect my score? I have read reports that the negative effects are temporary, but im not sure what that means. Can someone please give me a detailed answer as to what I am dealing wit... Read More
score / h...
my credits on all three creditors is in the mid 500 is that well enough to consider b... Read More
pay additional princi...
Do you know if paying additional principle on crdit cards instead of just the minimum payment improves credit FICO scores?
If so, is there a minimum extra amount that must be paid to be reported as additional principle.
Here's what I do each month for example; mimimum due: $212
I write check our for next highest divisor of 5. check is for: $215
So, I just paid an additional $3 toward principle. H... Read More
What's a Good Credit Score to Purchase a Ho...
How high should my credit score be to purchase a home?There is no absolute standard for what a credit score has to be in order to purchase a home. Credit scoresabove 700 generally will qualify for lower interest rates, which can save you thousands of dollars over the course of a loan. However, much lower scores will also allow you to qualify for a home loan, however you will typically have to pay a higher interest rate. It's important to note that there are actually three basic ingredients that come into play when qualifying for a loan and your credit history and score are only one of the categories. The other two categories that lenders pay close attention to are:-The amount of net worth (or equity) you have and...-Your regular income or cash flow.As a rule, any two of these three areas will help you qualify for a loan, and the importance of the third ingredient is affected by how strong the other two areas are. What this means is if you have a strong documented income or cash flow and you have a high net worth (equity), your credit score may be a bit lower but you still may qualify for very favorable loan terms.Another critical component in determining your likelihood to be approved for a loan is the amount of money you will haveto use as a down payment. If you are able to put down 20% or more, lenders will be much more lenient in how the above three factors noted are weighted.Hope this helps y... Read More