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Defaulting on any debt will affect your credit score in a negative manner. If you are having financial difficulty with your debts you have a few options. Contact a reputable credit repair company (if you need credit restoration), or contact your local credit counseling organization (they can assist you wil paying your debts by stopping the interest, and making a very low monthly payment until you become debt free. Your third option is consulting with a bankruptcy attorney if this is the only choice that you have.
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∙ 15y ago
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Can having to many credit cards with no credit balances reduce your credit score?
{| |- | Your overall credit history will determine how your credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if your credit history is questionable. |}
Will it affect your credit rating and score if you have 5 credit cards but use only one and neglect the other four cards?
== == Your overall credit history will determine how your credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if your credit history is questionable. == == == ==
I filed bankruptcy for my credit cards my wife has her own credit cards in her name am I obligated to pay her credit cards also when we get a divorce?
If your name is not on the account, and the account is not considered a "joint account" by the credit card company, then you should not be held liable for any debt on your wife's credit cards.
How will your credit score be affected when the bankruptcy drops off?
That depends on, what's on your credit bureau file. The score will look at the age of your credit cards, balances and payment history
Are bank cards affected by being next to another bank card?
The magnetic strips on the back of bank cards and credit cards can be affected by strong magnetic fields or being close to weak magnetic fields. When you keep credits cards in a wallet with magnetic strip touching or being very close together, it is possible for the magnetic strips to affect each making them unreadable. Even so, the credit cards can still be used by manually keying in the credit card number.
Do banks ask for proof of US citizenship for a mortgage applicant loan assuming non-FHA non-VA?
If you have a good credit score in the US there are some banks or mortgage compaines that don't require US citizenship. However it would be hard to have a good credit score in the US without citizenship as generally you need a social security number to apply for things like credit cards that build credit.
If you and your husband have separate credit cards will his late payments affect your credit score?
No, not if the accounts are separate. Married couples credit ratings are only affected equally when the account is held jointly.
How long does it affect your credit score if you do not pay your credit cards?
As long as you are not able to pay on time your credit cards and you are not maintaining a good credit payment schedule, your credit score is affected. Therefore, you must pay or settle all your accounts with your credit card in order to have a good credit score. There are ways on how to do this. Search online , there are sites that give honest and effective advice.
What credit cards does the Bank of America offer?
Bank Of America offers many different credit cards. It offers cash rewards credit cards, points rewards credit cards, travel and airline rewards credit cards, lower interest rate credit cards, and build or rebuild credit cards.
Why would one want a secured credit card?
Secured credit cards require a deposit to act as collateral against one defaulting on payments. This type of card is especially welcomed by those who have poor credit rating, who are more likely to be accepted for one as the cardholder is taking a bigger risk by offering up a deposit.
Who is charged for misusing credit cards?
People who misuse credit cards are charged for misusing credit cards.
Is your credit score?
Your credit score - is a numerical value based on your credit history. It takes into account such things as how much dbt you owe, if you've ever been late in paying bills, ever had court cases raised against you for defaulting on payment, or how many times you've moved. The higher your score - the more likely you are to be approved for loans, mortgages or credit cards.
