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When a person applies for a car loan, mortgage or credit card, the lender determines if lending money to the consumer will be a risk. Credit scores are one way to help credit card companies make the decision to issue credit.
To determine if that person should be given a loan or credit card (apex)
What else can I help you with?
How do credit card companies use a persons credit report?
To determine if that person should be given a loan or credit card
Do credit card companies report cash payments?
No, credit card companies do not typically report cash payments.
Do credit card companies report cash payments to the IRS?
No, credit card companies do not report cash payments to the IRS.
Do credit card companies report cash payments to credit bureaus?
No, credit card companies do not typically report cash payments to credit bureaus. Only credit card transactions and payment history are typically reported to credit bureaus.
Do credit card companies report individuals' financial information to the IRS?
Yes, credit card companies do not typically report individuals' financial information to the IRS.
Were does information containded in a credit report come from?
Information in a credit report comes from banks, mortgage lenders,credit unions, credit card companies, insurance companies, landlords, department stores and employers.
If you add second person to credit card will it show up on their credit report?
Yes, it does show up on that persons credit report. If you are late on payments, it will negatively impact his/her credit report.
Can a company not report good credit but will report bad credit?
Technically, yes, but usually this is not the case. Most major companies will post the good and the bad, particularly credit card companies and banks. Other companies will only report the negative, such as utility companies, apartment rental companies, etc.
Is it true if you add a person to another persons credit card it can improve the first persons credit rating?
If it does report it will show that you are just an authorized user, most cards don't even report authorized users anymore.
Why am I not receiving credit card offers?
There could be several reasons why you are not receiving credit card offers. It could be due to your credit history, income level, or the specific criteria that credit card companies use to target potential customers. You may want to check your credit report and consider reaching out to credit card companies directly to inquire about their offers.
What are the downfalls in using a small business credit card?
Many credit card companies will require that the credit card be guaranteed by the business owner. This means that the credit card would show up on the business owner’s credit report. This might pose a problem if you get into substantial debt.
If you have good credit history with some credit cards will they still show that on your credit report and that you paid on time after filing chapter 7?
It depend on the individual credit card companies if they report on your credit history or not, like some department store credit cards may not show on a credit report
