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How to repair your credit on credit cards you never paid and are charged off?
Wiki User
∙ 18y ago
If the accounts are charged off, your credit report is going to reflect 'charged-off'. This in itself will lower your credit score. You can pay the charged off amount which will most likely show, on your credit report, that the account is a 'paid charge off'. A creditor can try and collect on the debt for up to seven years. It may be to your best advantage to pay off the debt to begin the improvement process. Long-term, responsible credit behavior is the most effective way to improve future scores. Pay bills on time, lower blaances and use credit wisely to improve your credit score over time. THE ANSWER TO THIS QUESTION IS ACCURATE FROM THE PERSON WHO ANSWERED THIS BEFORE ME. BUT, NOW LOOK AT IT IN A LENDERS PROSPECTIVE. WHEN YOU HAVE A CHARGE OFF ON YOUR REPORT THAT SHOWS THE YEAR "2000", THIS CHARGE OFF WILL AFFECT YOUR CREDIT FOR SEVEN YEARS FROM THE DATE IS WAS REPORTED. THE POSITIVE THING IS YOU DO NOT HAVE TO WORRY ABOUT PAYING THIS BILL OFF IF YOU ARE INTERESTED IN A RESEDENTIAL LOAN. FOR YOUR OWN BENEFIT AND HIGHER SCORE IT WOULD BE IN YOUR BEST INTEREST WHEN YOU HAVE THE FUNDS ,TO PAY THIS OFF. FOR A LOAN THE LENDER WILL ONLY LOOK AT THE MOST RECENT COLLECTIONS OF THIS YEAR (2006) AND REQUEST FOR THEM TO BE PAID OFF BEFORE PROVIDING A LOAN. FOR MORE INFORMATION CALL WANDA AT: 703-564-3776, OR (email) ACEVEDO_WANDA@Yahoo.COM. GOOD LUCK!!
Wiki User
∙ 18y ago
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Why do some companies charge different prices for cash and credit purchases?
Cash is an acceptable form of compensation to pay all debts, public or private, "legal tender". Credit is only an equivalent. Merchants charge higher prices for credit in order to defray some of the costs associated with accepting credit cards. A merchant (grocery store, shoe store, etc.) decides independently if they will accept credit cards as a form of payment for goods and services rendered. Once a merchant makes this decision, he/she must then pay a series of other businesses (equipment lease to swipe the credit cards, payment processor to coordinate the actual account debits and credits, etc.) a small amount for every transaction paid by credit card. Many merchants do not charge more to accept credit, as they consider it just another cost of business. Many merchants also do not charge more for credit card purchases because it is prohibited in their Merchant Agreement , and they could lose the entire ability to accept credit cards if they are caught doing it. Visa, however, does allow its merchants to offer a "cash discount" off the marked price, but not a credit premium, so the customer is never charged more than the marked price.
How do you find out when an account on your credit report was closed?
Each entry on your credit report that reports financial activity is called a "tradeline". If an account was closed, charged off or paid off, it will have a statement under the tradeline to that effect. A word to the wise...never close an open tradeline - even if you are not using it. When you close a tradeline your credit score will drop to some degree.
Which credit card is the most reliable?
Creadit cards are never reliable. by getting credit card you are calling trouble; and trouble only. Let people talk and discuss about security and other so called mesures to ensure your sefty and benifits, fact on ground is that you are just molestated after offering you a credit card. There are cases of misuse of your credit card by issuing banking company itself. you can learn a lot about credit card by surfing blogs.
Are there any credit card for bad credit no money down never turned down?
if you're looking for a good debit card you can go to rushcard.com and use the referral code moneymaker this is a prepaid visa card you can also get direct deposit on it. there is no credit check and you'll get it within a week. if you want good credit cards or prepaid or debit go to http://www.getgoodcredit.newcreditapplications.com it has major credit card companys and there is something for everyone bad credit no credit business students prepaid everything you're looking for they have and its not hard to get approved i have a few myself.
If you cancel a credit card without activating it will it still appear on your credit report?
No, in order to actually use the credit card you need at activate it. But many years ago when they just sent you the cards, I was 18 years (this was 1986) I got a Lazurus credit card, I never used it, just hung on it "in case". Well I just bought a house (2004) and that account is still open..lol, though there are no charges the loan officer said I had to call to have it closed out because they considered it revolving credit..lol
How can you repair bad credit card history?
It's never too late to repair your credit and heal your bad credit history. One place to start is to pay down your debt and stop using credit immediately.
Is it true you can improve your credit score dramatically by having someone with good credit add your name as a cosigner to one of their credit cards even if you never use it?
YES, THIS IS TRUE! IF YOU HAVE NEVER ESTABLISHED CREDIT HISTORY AND YOU ARE IN NEED OF A LOAN YOUR BEST BET IS TO BECOME A CO-SIGNER ON SOMEONE ELSE'S CREDIT CARDS TO ESTABLISH CREDIT HISTORY.
When are credit cards a form of cash?
It is NEVER a form of cash. Credit cards are plastic cards in which consumers use to buy products that they do not have cash for to pay at the time of purchase. They will promise to pay it off later, but these people tend to use the cards a lot and they never save and can only pay the minimum due.
What companies offer pre qualified credit cards?
There are many places that lists many companies offering per-qualified credit cards with competitive interest rates. CreditCards.com is a great place to look for credit cards since they list many different kinds from different companies that offers per-qualified credit cards with competitive interest rates as well as credit cards for people who never had a credit card before and want to build their credit.
Is sneakermash website legitimate?
it is a scam. charged my credit card and never heard from them again
Why do people use credit cards instead of cash?
They don't have enough money in their checking account to pay for that item. Sometimes it is bad to use a lot of credit cards instead of cash because they might end up never paying off their credit cards. They will end up in debt and never having enough money to live.
If you pay a collections account in full and have no credit cards or other debts how soon can your score go up?
paying off bad credit will take about 60 days to have an effect on your credit score. But, if you don't have any credit cards you will never have a good credit score because no one is giving you credit.
What happens if you never paying credit card debt?
You are likely to have your wages garnished. Your credit cards will be cancelled and liens may be placed on property.
Why do you need a credit report?
A credit report will tell you what exactly is on your credit. You may find credit cards or other lines of credit you never authorized. You may also find credit cards you thought you closed, but didn't. Since business will judge you based on what's on your credit report, it's important to make sure it's all accurate.
Can a bank close your account after bankruptcy if you never bounced checks and have no line of credit with them?
No, the banks can not close your saving and checkings account. If you have credit card debts then yes they can close your credit cards.
How do you use cash in a sentence?
Tom never uses credit cards to pay money,he always uses cash.
How is it possible a consumer might not have a credit history?
If they have never taken out a loan, credit card, or anything else, there is no credit history. You should start building credit while in college - small credit cards and student loans are good ways.
