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Does applying for a credit card ruin your credit if you do not have credit to start with?
Wiki User
∙ 18y ago
No, not if you are applying for only one. If you apply for multiple cards, even if you get them ALL, that looks bad. (It might look like you are planning on running up a lot of those new cards and getting in way over your head in debt. And then being unable to repay.) Applying for one makes good sense.
Wiki User
∙ 18y ago
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Can you reopen a credit card that you closed?
Yes, you can request your issuing credit card company or bank to reopen your credit card that you closed. I did that with one of my credit cards. However, make sure that you had a good record on that particular closed account and that you check if all the balances have been paid before you closed the account in order not to ruin your credit history.
Is there a difference between a balance on a credit card or a loan from a financial institution in terms of credit history and credit rating?
AnswerDo you mean does a loan balance impact your personal credit differently than a credit card balance? Your rating and score are both contingent upon your pay history. The loan company is irrelavent.will a deliquent credit card hurt my other creditors or ruin my credit history
How to Obtain a Credit Card with Bad Credit?
Bad credit can put a damper on a lot of major life decisions. It can prevent loans from coming through, ruin chances at dream jobs and in some cases, prevent people from obtaining new credit cards. However, even with less than stellar credit, these tips can help anyone get some new plastic!1) Establish a pattern of making a change: Start by thinking toward the future, and begin to repair a bad credit history by making regular and on time payments on any and all accounts. Repairing a credit history can take time, but credit card companies are more likely to issue credit to someone who is making a conscious effort towards turning their bad habits around.2) Start local: By applying for credit at a bank or savings institution that is smaller and more localized, it is easier for them to be more trusting and issue credit. If the bank already knows a person or a person has an account with them, they are more likely to place trust in that person.3) Get a responsible co-signer: If getting credit singlehandedly seems impossible, obtaining a responsible co-signer may cause the companies to re-consider. A co-signer is someone that will sign the credit card loan along with the person who is primarily responsible for the debt, basically promising to pay if the other party fails to do so. A co-signer will make it more likely to get any kind of loan, especially a credit card.4) Go for the "secured card" Option: A secured credit card, often referred to as a secured card, is an option for many with imperfect credit scores. The only difference between a secured card and an actual credit card is that a person must open a savings account and make deposits into it in order to determine the credit line. While this may not be a viable option for all, it is still a good way to obtain a credit card if needed.Sometimes getting that new card can seem impossible, but by using these tips, even the lowest of credit scores can still have a chance of obtaining a new credit card. Good luck!
How does a credit card account settled for less than the full amount effect a cosigner?
A settled credit card account affects the co-signer in the same manner as the primary card holder. Settlement is payment for less than the full balance on a defaulted debt. Defaulted debts ruin your credit record. The co-signer is liable for the debt and the record of its' activity shows on that persons' credit for the full reporting time period.
Can a Debt Collector Threaten to ruin your credit?
Technically, you have already ruined it. They are just going to report it. If that is what you mean by threaten to ruin your credit, then yes they can. Legally.
How does a magnet in a credit card work?
Magnet's ruin credit card's smarts! the reason why is just because. there is nothing else to it!
How can you earn fast credit?
There's really no way to quickly restore your credit. It takes time to ruin credit, and it takes time for people to start trusting you again with money. One good way is to get a small credit card, buy small purchases and pay it all off every month on time.
How can you ruin the magnetic strip on a credit card?
No they are literally indestructable as tested by the NBOFP (national bureau of fraud prevention)
Can you reopen a credit card that you closed?
Yes, you can request your issuing credit card company or bank to reopen your credit card that you closed. I did that with one of my credit cards. However, make sure that you had a good record on that particular closed account and that you check if all the balances have been paid before you closed the account in order not to ruin your credit history.
Is there a difference between a balance on a credit card or a loan from a financial institution in terms of credit history and credit rating?
AnswerDo you mean does a loan balance impact your personal credit differently than a credit card balance? Your rating and score are both contingent upon your pay history. The loan company is irrelavent.will a deliquent credit card hurt my other creditors or ruin my credit history
How significant an impact does a late payment make on a credit rating?
A late payment on your credit card bills can gradually ruin your credit card rating if you continue on failing to meet the bills for consecutive months. The penalties will be carried on month after month, thus ruining your score.
Will chlorine ruin black hair dye after applying?
It Shouldn't
How to Obtain a Credit Card with Bad Credit?
Bad credit can put a damper on a lot of major life decisions. It can prevent loans from coming through, ruin chances at dream jobs and in some cases, prevent people from obtaining new credit cards. However, even with less than stellar credit, these tips can help anyone get some new plastic!1) Establish a pattern of making a change: Start by thinking toward the future, and begin to repair a bad credit history by making regular and on time payments on any and all accounts. Repairing a credit history can take time, but credit card companies are more likely to issue credit to someone who is making a conscious effort towards turning their bad habits around.2) Start local: By applying for credit at a bank or savings institution that is smaller and more localized, it is easier for them to be more trusting and issue credit. If the bank already knows a person or a person has an account with them, they are more likely to place trust in that person.3) Get a responsible co-signer: If getting credit singlehandedly seems impossible, obtaining a responsible co-signer may cause the companies to re-consider. A co-signer is someone that will sign the credit card loan along with the person who is primarily responsible for the debt, basically promising to pay if the other party fails to do so. A co-signer will make it more likely to get any kind of loan, especially a credit card.4) Go for the "secured card" Option: A secured credit card, often referred to as a secured card, is an option for many with imperfect credit scores. The only difference between a secured card and an actual credit card is that a person must open a savings account and make deposits into it in order to determine the credit line. While this may not be a viable option for all, it is still a good way to obtain a credit card if needed.Sometimes getting that new card can seem impossible, but by using these tips, even the lowest of credit scores can still have a chance of obtaining a new credit card. Good luck!
Is Barbados a visa free country for Nigeria passport holder?
every one wants a visa from you credit card scamming dirtbags that ruin it for honest people
How does a credit card account settled for less than the full amount effect a cosigner?
A settled credit card account affects the co-signer in the same manner as the primary card holder. Settlement is payment for less than the full balance on a defaulted debt. Defaulted debts ruin your credit record. The co-signer is liable for the debt and the record of its' activity shows on that persons' credit for the full reporting time period.
Can a Debt Collector Threaten to ruin your credit?
Technically, you have already ruined it. They are just going to report it. If that is what you mean by threaten to ruin your credit, then yes they can. Legally.
Should I get a credit card while I am in college?
It depends on your level of maturity, your understanding of credit and borrowing, your appreciate for how bad credit can ruin your life and embarrass you for years and years, and your understanding of the goal of credit card companies in giving credit to students. The credit card company considers student borrowers a great risk. This means more late fees, higher interest and over-the-limit fees which will result in an incredibly inflated balance that can be sold to a collections group for pennies on the dollar and still result in a profit for the credit-card issuer. This then leads to ruined credit, attached wages, difficulties in securing employment later in life, etc. If you feel that you can manage a credit card, use it sparingly and pay it off completely each month (instead of going nuts on a shopping spree and a kegger for 250 of your closest friends, which is what the credit card company hopes you'll do), then a credit card can be beneficial in building credit early on. It's a double-edged sword; you ha
