Credit and Debit Cards

How does credit affect an individual financial standing?

Your credit can raise or lower your credit score. It is what consumer credit for buying a house or car is based on.

How does financial aid affect your credit score?

Im applying for financial aid for my house payment. will it effect my credit score

In what ways can a negative credit report affect your financial goals?

Refinancing can affect your credit report, and excessive shopping can also hurt it too.

If you default on a credit card debt in Hong Kong can the bank sue you in Australia if you now live in Australia?

Yes. You can be sued for for unpaid debt no matter where you live. Further more, this debt WILL affect your financial standing in Australia and your ability to get credit here.

If you have bad credit will it affect the credit score of your spouse?

Your credit standing alone won't affect your spouse's credit. The only way your spouse's credit would be affected along with yours is if you jointly hold accounts and then fail to pay them.

What is the financial definition of the credit rate?

A credit rating is a measure of the likelihood for an individual or business to default on a loan or other form of credit. It is applied by a credit rating agency.

Would it be considered good credit standing if you don't have any outstanding loans or financial obligations?

Not really, having no credit is just as can be just like having bad credit.

What is payment credit as a type of letter of credit?

A dispute letter to credit bureaus is written by an individual to the credit bureau over the some issue related to credit standing. The individual would need to be clear in his letter of dispute against that of the credit bureau, providing evidence where possible to proof the error on the part of the credit bureau.

What factors affect your current financial position?

Overhead expenses, the economy, and poor credit.

How does diversification affect financial institions credit risk exposure?

Generally, diversification helps reduce the overall credit risk exposure for financial institutions by reducing their overall expected chargeoff rates.

What is the purpose of a free credit report?

The purpose of a free credit report is that the individual can get a report of their credit records. This way they can know what there standing is in terms of credit, and see if they have good credit or bad credit without paying any fees or services.

Does someone living at an address with a bad credit history affect the credit rating of that address for anyone else living there?

No. Credit is tracked by the individual, not by an address.

Why are there no debit or credit columns on financial statements?

Because a financial statement is just that - a statement of fact. It is not a ledger detailing individual transactions - it's a summary of balances.

How is President choice credit card designed?

President's choice credit card refers to a banking service provided by Loblaw companies. It is designed to provide individual financial services under the Presidential's choice financial umbrella.

Where can one compare the best credit cards?

The websites of individual financial institutions often have a tool for comparing features of their own credit card offerings. The Financial Consumer Agency Of Canada has an online interactive tool to help you compare features across financial institutions.

Will your husbends credit be hurt from your past student loan even if you weren't married?

No. Credit obtained as an individual does not affect a future spouse.