Credit and Debit Cards
Improving Your Credit Rating

Is current account related to bad credit history?

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Difference between current account and cash credit account?

i am a student and wanted to open my account should i open a current account or credit account

What is the different between cash credit account and current account?

Diff. between CC account & current account

Would taking a loan from your current 401K account to pay off your credit card affect your credit history?

No. Loans from 401(k) accounts are not usually reported to credit reporting agencies, so it should not affect your credit history favorably, or negatively.

What is owner's current account and it's accounting entry?

owners current account is called a personal account and it has a credit entry

What does a credit balance on partner's current account mean?

current liability

Will closing a 16 year old credit card account with an excellent payment history and a 18500.00 credit limit in order to get a card with a much better interest rate affect your credit rating?

Closing a 16 year old seasoned credit card account with an excellent payment history will NEVER improve your credit. As a matter of fact, opening a new credit account will also temporarily reduce your score. If you need a lower rate, call your current credit card company and request it. It is a much better solution that can save you money on interest. The following link can show how to request a lower interest rate on your current credit card account.

What steps are involved during Merchant Accounts credit card processing?

A Merchant Account is an account linked to a business's current account that will accept and provide the credit card transaction process. In order to get a Merchant Account one must apply in a process similar to getting a personal credit card whereby credit worthiness, history of trading and likely spend will be assessed.

I've heard about getting a triple credit report, what three companies provide those?

The three are TransUnion Score, Experian Plus Score, and the VantageScore, but it is recommended you don't do this. These are not the real deal. The report you want to get is FICO, and was developed by the Fair Isaac Corporation, and takes into consideration your entire credit history, current debt, payment history, account makeup, and all credit related activity.

How is your credit score affected if a credit card company closes your account because of inactivity?

Your credit score is affected by ALL the information in your credit history. Specifically, a recently closed, inactive, revolving account would impact the amount of credit available to you, thus changing your debt-to-available-credit ratio. If this particular acccount was the oldest account in your file, closing it would also shorten the history of your open credit accounts. The amount of impact to your current score would depend upon what remained open in your file and, once again, ALL the data showing, not just this one account.

Why is cash a credit in accounting?

Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)

Will having no credit cards or outstanding loans improve a credit rating over time or is having at least one account that is current better?

You have to have credit in order to have a credit history and a credit score. Every consumer needs at least one installment account and two revolving accounts that are managed properly for optimal points during the calculation that produces a credit score. It can be harder to get the credit you need, such as a mortgage loan, with no credit history than when a borrower has bad credit. Also, if a consumer has bad credit; positive, ongoing,accounts will offset the negative information.

If your husband is the primary card holder does that give you credit history in a joint account?

Yes, as long as your listed as a "Co-signer" on the account. Credit is not build if you are just an "Authorized User" if this was a credit card account. Lastly, this all assumes that whatever this joint-account is that it reports to credit.

How do i get credit history?

You can get credit history by having a credit card or line of credit. Anything that reports to the credit bureaus that you are paying each month. You can also get some credit accounts added to your credit history by becoming an authorized user on a spouses or family members account. All this doesn't matter if it isn't paid on time, so a credit history length with a good payment history will help your credit score.

If you are a secondary card holder yet you have been the only user of that credit card does it mean you still have no credit history?

If you are on the account your are building a credit history, hopefully a good one.

How do you check the credit history of a foreigner?

The information from a credit history doesn't transfer. So what has to be done before the person moves is to get a U.S. bank account and try to establish some credit.

What is the use of checking my credit history?

Checking your credit history allows you to make credit reports and check credit scores which are crucial for getting loans. It is also important to check that your account is not being used wrongfully.

What is the Entry for Revenue earned by the Branch office in branch accounting?

Branch retained earnigs - Debit Profit from Branch - Credit Bank account - debit Branch retained earning - Credit Current account - Branch - Debit Bank Account - Credit

How can someone with no credit history build their credit?

To build a credit history from having none is a difficult prospect but any website that offers you a pay in 90 days or similar offer establishes a credit history. Alternatively the bank you have your savings account at might offer you a lower maximum borrow limit credit card which you can then use to establish a credit history.

Cosigning on merchant account for someone with bad credit history?

I am not clear as to exactly what you are asking, but I can refer you to a couple of good resources for businesses whose owners have a bad credit history, but are seeking to get a merchant account. These are The Merchant Account Advisor and Merchant Account Exploer. Both have web pages devoted to the bad credit merchant account issue and list a number of processors who should be able to help.

Are purchases made on account liabilities?

Yes.Most purchases are on credit and are therefore current liabilities

Is an account receivable a revenue?

Accounts receivable is a current asset account and a personal account which created due to revenue account of credit sales and amount is receivable in future.

Can a person with bad credit open a joint bank account?

yes as long as co-applicant has good credit history.

Why are unsecured credit cards easy to get?

Unsecured credit cards are easy to get because they have no restriction and anyone can get them. You do not need a good credit history or an account to get one.

Why does credit information remain on your credit report even though the account has been closed for years?

It's all part of your credit history..the good the bad and the ugly. I longer history is generally good.

What are the things that credit card companies look for when you are looking for approval for a card?

Besides for your previous credit history, credit card companies may be looking at your criminal history, length of time at current residence, time at your current job, total annual income, and many other factors for approval of your credit line.