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Currently have a credit score of 630 with 6 items in collections which are paid in full this month 30K in student loans start paying this month How will your credit look in 12 months?
Wiki User
∙ 15y ago
That's really a question for a credit counseling type company who can answer questions relating to your credit score. I can tell you that until you consolidate your loans, they appear as itemized on your credit report. Once you consolidate your student loans they appear as one loan and give you a lower debt to income raition therefor giving you better FICO/Beacon score.
Wiki User
∙ 15y ago
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If you have about 10 collections and charge-offs on your credit report would a pay-off of these accounts within six months raise the credit score over an 18-month period?
Yes. Provided you pay your current accounts on time and have no new collections to your report, your credit score will increase.
If you pay off nine old collections and charge-off accounts over 7 months would there be a drastic increase in your credit score after 16 months?
A consumer's credit score is based on ALL of the information showing in your credit file at the time the score is calculated, not just the items you have mentioned.
What is the APR on a Halifax credit card?
A Halifax Credit Card is known as the credit cards that students can get quite easily. Sometimes they offer start up deals on interest rates for a certain amount of months, but currently the APR is 17.9%.
Is credit card balance real time when a credit check is done?
No, credit card companies submit to the credit agencies on a monthly basis at the end of each month. So if you are checking your credit card the 3rd week of the month you will see last months credit card statement balance not what you currently owe on your credit card.
How would breaking a lease on an apartment two months early impact your credit rating or fico score?
If the landlord goes to court to obtain a judgment on the unpaid two months rent, this will show up on your credit report. Any time an account is unpaid, in collections, judgment or late, your credit report will take a hit. This may hinder you from obtaining another apartment as that information may be listed under adverse which can remain on your credit report for 7 years.
Does being in good standing with a current credit card rise your credit score even though you still have collections and chargr offs?
Keep in mind that what you have done in the last 24 months is what considered most. You can be in good standing with your credit card--but not using it properly will still affect your score. As Phil Turner said in his book titled "The Credit Bible" "If your credit card balance is over 30% of the balance, this will affect your score." Those collection account and charge offs will hurt, but not as much in 24 months.
What are the best balance transfer credit cards?
Currently the top three credit cards for balance transfers are Barclay Card who have a 0% balance transfer for 27 months with a 2.98% fee, Virgin who have a 0% balance transfer for 26 months with a 2.99% fee and third place is a tie between NatWest Platinum and RBS platinum credit card as both have 0% balance transfer for 26 months with a 2.65% fee.
How long does a credit inquiry stay on your credit report?
A credit inquiry typically stays on your credit report for two years. However, its impact on your credit score diminishes over time, and it usually does not have a significant effect after the first year.
Can a student with good credit who has been in US for 20 months with funding from school apply for a loan or does he need a US citizen as a guarantor?
CALL a few lenders and ask them what their lending qualifications are.
Why are some colleges banning the on campus marketing of credit cards to their students?
Americans generally do not receive an fiscal education in school. By the time they get to college, they are more than willing to buy into the "spend now, pay later" mentality of credit cards. Credit card companies love uneducated consumers who take a credit card, feel empowered by it, spend spend spend, run the card up to the limit and then cannot pay. Students cry "But I'm A Student!" but the credit card company is unsympathetic. It adds late fees, over-the-limit fees and the maximum amount of interest allowed by law. In as little as six months, the amount of an account can multiply six-fold, just in interest and fees. It is then sold for pennies on the dollar to a collection agency, which hounds the student to death, attaches wages and destroys the student's credit. Unfortunately, most college kids have no clue what any of this means. The on-campus representative from the credit card company is cute and friendly and hands out free t-shirts. The collections people are quite the opposite. Because these predat
How long do i have to have a credit card before i get a credit score?
6 months
What credit card company gives extra credit after three months?
There are no companies that give extra credit after three months. First of all, credit cannot be associated with credit cards. Second of all, if one is referring to rewards, then most extra bonus rewards come from purchases within the first 3 months, not after.
