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If you have many credit cards in good standing is that bad for your credit report?
Wiki User
∙ 16y ago
Yes. The target range for revolving credit accounts is between two and four. This type of account includes not only credit cards, but Home Equity Lines of Credit. For maximum points to your score, have between 2 and 4 accounts. Open them early and leave them open for years. Length of time accounts for a large segment of the score. They need to be used (charged on) monthly and paid in a timely manner. The other aspect is keeping the balances low in proportion to the credit limit. The industry term is "utilization". Utilization numbers under 30% cause minor score additions. For maximum points, utilization between 1% and 9% is recommended. *** This question gets answered differently by different people. The reason for all of the differences in opinion is that the algorythm FICO uses to determine credit worthiness is so complicated. Two people with identical circumstances can have two different scores. The big issue here is the way you take care of your credit. Pay your debts on time, keep your balances low, NEVER close an open account - NEVER DO THAT!, and make sure that you don't keep opening new accounts. Get a good mix of credit card and installment loans early and take care of them. You cannot re-write history. You build it - for better or for worse - one day a time.
Wiki User
∙ 16y ago
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If you have two credit cards in good standing with only four months of credit report are there any lenders that accept limited history?
Yes, many do.
If you are in good standing in your credit report what credit score do you have?
Scores of 700 or above suggest a decent credit report.
Can a credit seize other credit cards?
can a credit card that has won judgment against you seize other credit cards that are in good standing
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
What is the consequence of having the credit delinquency on your credit report?
It will be harder to get any loans, credit cards or a mortgage as your credit history has not been good.
If you have two credit cards in good standing with only four months of credit report are there any lenders that accept limited history?
Yes, many do.
Can you get hired by bank that you have credit cards with?
Yes - as long as your credit cards are in good standing.
If you are in good standing in your credit report what credit score do you have?
Scores of 700 or above suggest a decent credit report.
Can a credit seize other credit cards?
can a credit card that has won judgment against you seize other credit cards that are in good standing
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
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.
What is the consequence of having the credit delinquency on your credit report?
It will be harder to get any loans, credit cards or a mortgage as your credit history has not been good.
What credit card should you apply for that might accept you?
Acceptance for credit cards will depend on your credit rating standing. If you have good credit then you are practically guaranteed to be accepted. But if your credit report is not as good as you would like it then you need to take action immediately. First of all you need to see a copy of your credit report. You can normally request one copy per year for free and this information is the exact same that a bank and credit card Company would see once they do a credit search on you.
Will paying off your credit cards raise your credit score?
things that raise your credit score are , having major cards open more than 3 years, and showing good standing with that creditor. you dont have to use a credit card to show good standing. yes paying off high dept will raise your score. and having too much on your cards even if you pay on time will lower it.
Free credit report with out credit cards?
Credit reports determine your credit score based on your credit card usage. Without a credit card, you'll be unable to obtain a credit report. If you are of age, it is best to obtain a credit card and use it responsibly in order to build good credit. Good luck!
When adding an old trade line to your credit report will this help raise your credit score?
ANSWER: If the old trade line was in good standing, yes.
Does cosigning a loan go on your credit report if the loan is in good standing?
Your cosigner's credit report should also reflect the loan. In this case, it should show as paid on time as agreed.
