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If your FICO score is 581 and you have 2 credit cards both almost maxed but you have no late payments no collections and low credit hits why is your score so low?
Wiki User
∙ 18y ago
Not only is your overall score based upon payment history which is very important, it is also based upon the credit to debt ration, "maxing out" an account has an extremely negative affect on the basic credit rating.
Wiki User
∙ 18y ago
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Should you make payments on some credit cards if you cannot on all cards?
yes.
Does Bank of America take credit cards for mortgage payments?
Yes.
How many credit cards should you have to build credit?
Number of credit cards do not matter, what matters is your payments. As long as you pay in full every month and don't go over 30% on your credit cards you should see maximum results..
Why not make minimum payments on credit cards?
You pay longer & more interest overall.
Types of credit?
There are four basic types of credit. Service credit is monthly payments for utilities, loans let you borrow cash, installment credit, and credit cards.
Can you file for bankruptcy if your credit cards have gone into collections?
Yes.
Do London cabs accept credit cards?
Yes if you are booking them online or by call they do accept payments by credit cards.
Should you make payments on some credit cards if you cannot on all cards?
yes.
What does no payments no interest mean?
As far as credit cards/credit accounts, you will not have to make any payments and no interest will be added till said date.
Does Bank of America take credit cards for mortgage payments?
Yes.
If you have 3 credit cards in collections and were told not to pay because it won't help your credit score but every month the balance keeps going up isn't this hurting your score even further?
You were given bad advice. You should attempt to work out payments with the creditors.
What services are offered by the Credit Boards website?
The website, Credit Boards is a resource for the consumer who is looking to educate and inform themselves about credit, credit cards, collections, and bankruptcy.
How many credit cards should you have to build credit?
Number of credit cards do not matter, what matters is your payments. As long as you pay in full every month and don't go over 30% on your credit cards you should see maximum results..
How many credit card transactions were completed online in 2007?
From the Federal Reserve's 2007 Payments Study Press Release: http://www.frbservices.org/files/communications/pdf/press/2007_payments_study_press_release.pdf "Among the three main types of electronic payments, the annual use of debit cards increased by about 10 billion payments over the survey period to 25.3 billion payments in 2006. Debit cards now surpass credit cards as the most frequently used electronic payment type. Over the same period, automated clearinghouse (ACH) payments grew to 14.6 billion, an increase of almost 6 billion payments. Credit cards grew by almost 3 billion payments to 21.7 billion in 2006. " Since this is a fairly mature market figure a growth rate in 2007 equal to 2006 grow rate of 13.8% and you get an decent estimate of 24.7 billion in 2007.
What is an abstract noun for credit cards?
The noun credit meaning a state of indebtedness through temporary borrowing, is an abstract noun. Credit cards (concrete noun) are used to make deferred payments.
Why not make minimum payments on credit cards?
You pay longer & more interest overall.
Types of credit?
There are four basic types of credit. Service credit is monthly payments for utilities, loans let you borrow cash, installment credit, and credit cards.
