Can you get a loan for 12000 with a 661 credit score if you don't want to use the equity in your home?
A person may be able to receive a loan for $12,000 with a credit
score of 661. The loan officer will need to underwrite the loan,
and other aspects will be taken into account, such as the debt to
You dont have a credit card can you still get your credit score?
Asked in Credit Reports
Is there a credit counseling program that won't ruin your credit score?
Asked in Personal Finance, Credit and Debit Cards, Loans, Home Equity and Refinancing, Home Buying, Money Management
Is it possible to refinance an existing home equity loan into a home equity line of credit?
Asked in Personal Finance, Credit and Debit Cards, Improving Your Credit Rating, Money Management, Credit
You dont have a credit score yet but you have credit cards how long before you get a credit score?
For raising your credit score over and above the minimum levels, you need to learn some essential tips: Gain some basic knowledge about the credit scores. Pay bills on time. Be an active user. Avoid over scratching. Keep low balance: Discipline with payments and regular transactions are indeed a key to better credit score.
What Credit cards will approve credit for credit score 544?
I dont think there is.. because in order for you to get a high credit score you have to pay on time or in full payment then to increase your credit limit you have to purchase more but you have to pay it in full. so better purchase on things that you are able to pay it in full. that will make your credit score increase. first premier will and if you pay each month on time in 6 months time youll see your score increase rapidly so it does help.
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Why is good credit important?
If your credit report shows you dont pay on time noone will loan you money to buy a house or car or extend credit to you . A normal credit score in the US is normally between 300-900. A good credit score is considered to be around 800. On the other hand a bad scores is around 300 with the average credit score of an American being approximately 720. If you have a bad credit score, then you will need take action to rectify this before you decide to apply for more credit. Every application that gets rejected will be highlighted on your credit report and potential, future lenders will be able to see this.
Asked in Credit Reports
What are some quick ways to establish good credit?
Asked in Personal Finance, Credit and Debit Cards, Credit Reports, Improving Your Credit Rating, Money Management, Credit
Will paying off your credit cards raise your credit score?
things that raise your credit score are , having major cards open more than 3 years, and showing good standing with that creditor. you dont have to use a credit card to show good standing. yes paying off high dept will raise your score. and having too much on your cards even if you pay on time will lower it.
What is the fastest way to increase an individual's credit score?
1. If you dont have credit, get 2 credit cards. 2. Make SMALL purchases on your credit card. 3. Pay off your credit COMPLETELY each month. 4. Wait 12-24 months. 5. If you have a credit card, but have a high balance, pay it down as much as possible. your credit score can jump 50-100 points if you payoff your credit cards. 6. If you are applying for a mortgage and have bad credit, many times the large national lenders such as Wells Fargo or Chase can better help you raise your creddit score. They can tell you that you need to payoff this, this , and this to get your credit score to jump 50 points. Good luck! Henry
Asked in Credit and Debit Cards, Credit Reports, Credit
How can you check your credit score without paying for a service you dont need?
In Canada, as I am, to find out your credit score without paying for services you do not need you simply write to a company called Equifax. Provide a letter requsting your credit score along with photocopied government identification, updated contact telephone number and recent address. Within 4 to 6 weeks they will reply with a letter sent to you with your results.
Is 802 a good credit score?
It's very near perfect. 802 out of 850. Sometimes, the number is lower due to applications for things (insurance, credit cards, whatever someone may run your credit for). I have pristine credit and dont know that I have ever seen a 850 score. 802 is something to hold your head high about, it means you are like 1% likely to default.
I just got a new credit card. I dont have any credit cards other then this one. If I cancel this credit card that is new with zero balance will it affect my credit score?
Everything you do related to credit cards will affect your credit. My advice would be to leave the credit card account open and here's why; While just cancelling your credit card (with no balance) shouldn't hurt your credit, here are a couple things to think about; 1) your credit history makes up 15% of your credit score. No history means no points. 2) your payment history is makes up 35% of your credit score. I know you said you don't have a balance, but an occasional purchase and on-time payment will help your credit. The only thing that could hurt you if have too much available credit. If the card has a $50,000 limit, this could work against your. But I doubt it, seeing this is your first card.
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Asked in Improving Your Credit Rating
Why is my credit score dropping drastically when I'm making payments that are more than minimum on time?
You've made a big mistake like I did 3 years ago. I've paid all my bills ''on time'' and ''in full'' for 18 months. But my credit score drops more than 50 points. WHY?? After I studied for 3 years on credit. Let me tell you some tips...... 1. pay your bill on time ( cause one late payment could drop your credit score 30-50 points 2. you need to keep your balance under 30% of your credit limit.( trust me, that was the mistake I made ) and your credit score will definitely drop if your balance higher than 50% of your credit limit. So you do not want your credit card show ''maxing out'' on your credit report. And if you want to increase your credit score faster, its better to keep your balance between 10%-20% but you have to keep eye on all your revolving accounts ( car loans & mortgages are a little different ) 3. Dont apply for too much new accounts with a short time 4. If you have a credit acct with good history but you dont use it anymore. just make sure DO NOT close that acct. 5. Dont ask your creditor to lower your credit limits. 6. pay down your debt asap. Anyway, I hope those info will help you out. but remember...sometime we just cant beat the credit system. For example, one time my America Express balance increase from $0 - $116 and my credit limit is $8200. but guess what? my score drop 2 points. I know its not much. but how can you explain that? I have no any late payment. all my accounts balance are below 30% and plus balance $116 is only 0.02% of my credit limit. but basic follow my info, your credit score will definitely increase. It takes time....Good luck my friend!
Asked in Credit and Debit Cards
if i dont have a credit card then how can i apply for a grant when i cant get a credit card?
Asked in Personal Finance, Home Equity and Refinancing, Small Business Loans, Money Management, Credit
How does an equity line of credit work?
it lets you borrow against the equity [the amount house worth minus the amount still owed on it]. go to the bank where you bank & they will tell you exactly the amount of credit you are eligible to take [or borrow] against your home equity. if your credit is good they will tell an exact dollar amount you can take whenever you wish [after all the paperwork is done. some warnings- dont do it unless you are absolutely sure you can pay it off quickly-use it only if absolutely necessary-dont do it unless you are extremely self disciplined. I've found that the interest rate is usually a little lower than rates in general[for example auto loans. another warning-the required monthly payment is intentionally very low, reason being that they dont want you to pay it off they want to keep making interest off of you. its a double edged sword its nice to have access to 25 or 50 thousand dollars within 5 minutes or so but can bite you in the butt when it comes time to pay it off A combination of a line of credit and equity loan. A maximum loan amount is established based on credit and equity. A mortgage (deed of trust) is recorded against the potential borrower's property for said maximum loan amount. The potential borrower has the right to borrow, as needed, up to the amount of the mortgage.
If your vehicle was repoed 3 years ago and you have been paying the deficiency balance how long will you have a low credit rating?
Hang in there. Dont give up. You are probably a one in 100000 case. You are doing it the right but hard way.Avoid the B/K if theres any way possible. You've made 3 yrs, dont waste all that hard work.It will get better. Someone (lender) will see that you are paying on the balance and RESPECT that enough to cut you some slack. Your credit rating (or score) depends on All the information contained in your credit report. A repossession, which shows as a charge off or collection account, is considered a significant derogatory listing and would have a big impact on your credit score. Any derogatory item that has been updated, for any reason (including recent payment) would have impact your score the most. 35% of the your credit score is based on your payment history. In general, derogatory information remains on your credit report for 7 years from the date of last activity.