Google : "establish credit"
Or use a credit restore company - they can help as well and
get you off on a great score
;)
Wayne
A credit score of 450 is not good at all. It is considered very high risk and you will not be able to recieve a credit line until your score goes up.
A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.
Every individual has a line of credit. This line of credit is what determines your credit score and what will be used to approve or deny you credit cards or loans.
Yes. A home equity line of credit is based more upon the equity on your home, not so much upon your credit score. Plus, 653 ain't so bad.
High Credit card balance affect your credit score negatively. See, the debt to credit ratio makes up 10% of your credit score. This means the amount of money you owe on a credit line. The more you owe, the worse it hurts your credit (maxed out cards do the most damage). It is recommended to try to be below 30% of your line of credit.
A credit score of 450 is not good at all. It is considered very high risk and you will not be able to recieve a credit line until your score goes up.
Definitely, your credit score isn
A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.
Every individual has a line of credit. This line of credit is what determines your credit score and what will be used to approve or deny you credit cards or loans.
Yes. A home equity line of credit is based more upon the equity on your home, not so much upon your credit score. Plus, 653 ain't so bad.
High Credit card balance affect your credit score negatively. See, the debt to credit ratio makes up 10% of your credit score. This means the amount of money you owe on a credit line. The more you owe, the worse it hurts your credit (maxed out cards do the most damage). It is recommended to try to be below 30% of your line of credit.
If your combine total credit limit is below 35%, it will help your overall credit score. However, if you own more that 35% of your total credit line, meaning of all of your credit cards, you score will go down. Make sure you keep your line of credit usage below 30% on each card.
Before applying for a home equity line of credit the one tip you should know is to know your credit score. By kowing your credit score you are able to approach your bank with the information you need to apply for the right program and recieve the right line of credit.
ANSWER: If the old trade line was in good standing, yes.
How your FICO score is determined is a will kept secret- but the main factors are how long you have had credit, the % of each credit line you have used, and late payments
form_title=Corporate Credit form_header=Build your corporate credit and limit your use of personal credit! What is your dept to income ratio?=_ Why do you need this specific credit line?=_ Does your business have a current credit score?= () Yes () No () Not Sure If so, what is the current credit score?=_
yes!