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Credit score of 631 you have been working hard on re-establishing your credit after a bankruptcy in 2003i just got approved for a secured credit card and was wondering if this will improve your rating?
Wiki User
∙ 15y ago
Answer -- It is very important to have a good credit rating. One needs this for many uses - buying a home, as well as smalls things, such as; renting DVDs. Take note that just because a credit card company has given approval for a "secured credit card" does not mean the previous credit rating will improve. Head this warning! Credit card holders must be aware of the financial danger of spending money that is not there. Here are a few tips to guid the credit card holder out of bankrupsy and debt..... * Do not accept any credit card from any credit company to begin with
* Calculate income weekly
* Keep tally of income in the bank
* Do not leave less than $20.00 in the existing bank account (to cover bank fees, emergencies ect..)
* If using a credit card - Make sure to be able to pay it off each month
* Do not own more than one credit card
Wiki User
∙ 15y ago
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Will credit score improve once bankruptcy removed from report?
Yes you should see some movement in your score.
Can you improve your credit score by cosigning for someone who has perfect credit?
Yes you can, if approved it will show positive on both reports.
If you just divorced and already have foreclosures and repossessions on your credit report will filing bankruptcy help your credit score?
No, filing bankruptcy will never help improve your credit score, it stays on your report 10 years whereas a repo or foreclosure normally remain 7 years. So bankruptcy would only make your credit worse.
How many points will your credit score jump after bankruptcy comes off?
How many points your credit score will go up after bankruptcy comes off, will depend on where it was beforehand. Your credit score may improve drastically into the 600's, or it may still be low.
Can getting a credit card improve credit score after bankruptcy?
Yes, if you use it properly. Just getting one and doing nothing doesn't really help.
How long after bankruptcy does your credit score start to improve?
After 7 years, you can start rebuilding your credit.
What effect will a five year old bankruptcy have on getting a job that requires a background check?
It all depends on the employer, usually after seven years a bankruptcy is clear from your record, even though someone has a bankruptcy in their record they can try to get credit to begin to improve their credit.
Will credit score improve once bankruptcy removed from report?
Yes you should see some movement in your score.
How do you improve memory I can memorize the spelling of a word that is less than seven letters long in 15 seconds but I am wondering if I can somehow improve this?
The best way to improve your time is just to practice. You can find lists of words online to practice with!
Can you improve your credit score by cosigning for someone who has perfect credit?
Yes you can, if approved it will show positive on both reports.
Can bankruptcy hinder you in joining the navy reserves?
Bankruptcy won't hinder your enlistment, but COULD limit what you do in the Navy, since credit history is one of the elements of security clearance investigations. How long ago the bankruptcy was filed, and current financial responsibility can improve your chances of at least a Secret clearance, needed for many Navy jobs.
What characteristics does a normal session in a hyperbaric chamber have?
HBOT is expected to promote healing and improve the health of individuals with conditions for which it is approved.
If you just divorced and already have foreclosures and repossessions on your credit report will filing bankruptcy help your credit score?
No, filing bankruptcy will never help improve your credit score, it stays on your report 10 years whereas a repo or foreclosure normally remain 7 years. So bankruptcy would only make your credit worse.
If an account is closed by a credit grantor why would the card holder continue to make payments after bankruptcy findings are closed?
The card holder is under no legal obligation for the card holder to continue making payments after filing for bankruptcy, unless the case is dismissed without a discharge. There are some who believe that they can improve their credit rating by pay off debts that were discharged in a bankruptcy, but I believe there are better methods to reestablish credit after bankruptcy.
How many points will your credit score jump after bankruptcy comes off?
How many points your credit score will go up after bankruptcy comes off, will depend on where it was beforehand. Your credit score may improve drastically into the 600's, or it may still be low.
Can getting a credit card improve credit score after bankruptcy?
Yes, if you use it properly. Just getting one and doing nothing doesn't really help.
Does filing bankruptcy improve a credit score if there were a lot of charged off credit cards and late payments prior to filing?
No, just the opposite. Bankruptcy is the ultimate "train wreck" of a person's financial standing. Even after the ten year SOL there will be a public record, and the consumer will still be penalized for it. Bankruptcy, is not, as some are led to believe, the magic cure for debt problems.
