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What are the implications of having either a positive or negative credit history?


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Answered 2009-09-17 20:55:04

go with visa ar you'll get screwed

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How does a car repo affect credit?

It goes on your Credit History as an incomplete pay history and in the comments sections in the Credit History for that bank they will give the reason for the negative history.


What do you have to write in order for the credit breau to put positive credit on your report?

you don't write anything, it is your creditors who report the information weather it be positive or negative.


How are fico scores determined?

FICO compares all negative and positive data in all of the various different parts of the client's credit report. Taking all of these factors into account, FICO places scores into new credit, payment history, types of credit used, length of credit history, and amounts owned categories for the client.



How can you get a zero as your credit score?

Typically, if you see a "zero" or nothing as a credit score it is due to the consumer having no credit or not having any positive credit that would contribute to the scoring system. A consumer can have nothing but negative credit on their report and this would not generate a score. A score is normally generated when the consumer has had a loan and/or credit card history.


What are they assessing when calculating your credit score?

good positive account history, public records, lates vs. no lates, hard inquiries, anything considered derogatory is considered negative. FICO use a secret formula to compute your credit score


How does a potentially negative item affect your credit score?

The effects of negative credit items depend on the nature of the item (credit card, foreclosure, collection account) as well as the severity of the item (30 day delinquency vs. charge-off). Additionally, the presence of other accounts, both positive and negative, will adjust the impact that a single negative item has on your credit score. One final variable that also affects how a single negative item impacts your score is the overall length of your credit history. A single negative item could cause your score to drop 3 points or 150. It really depends on each situation.


How can you make a negative sentence into a positive sentence?

My club doesn't give me credit for the programs I design.


How long does a default notice stay on your credit file?

All negative information stays on your credit file for anywhere from 1-6 years. The credit reference agencies onlyhold information for six years, whether positive or negative.


I need to get my first loan, what can I do to to help build credit history?

Building a credit history requires taking out credit to get a history going. Open a no-annual-fee credit card and make sure to charge to it every month. Also, make sure to pay it off in full each month to build a positive credit history.


How can you fix your credit?

There are several factors that go into your credit score, but the biggest at 35% is your credit history. This is your history of payments with your creditors. Late payments, collections, judgments, and bankruptcies all affect your credit history negatively. You can fix your credit history by negotiating removal of your negative items by paying them off. You can also dispute any negative item to the credit bureaus and they must investigate it. Removing any bad credit history will drastically improve your credit score. wefixbadcredit.org When you visit the website, click on the top left corner where it says: "Click for live help!" ***Use promo code: 1441*** When chatting to a Credit Specialist!


Does credit have a positive or negative meaning?

There are two main uses: If I give you credit for your effort then it is positive. I do not actually lose, or use up, anything by giving it to you. But in the second meaning, I give you monetary credit. that means I allow you to owe me money - to be paid back at a later date. I have lost the use of that money for now, and you have gained access to that money for now so it is simultaneously positive and negative.


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.


Would getting a negative record in Chex Systems affect your credit history?

yes it can. Sometimes it is reported to the credit bureaus as well


How long is a credit history visible?

The information on the credit report is available up to seven years, both positive and negative. Some collection agencies though can fulfill your request to remove a negative collection in return for a full payment and a lot of people have done this despite it being illegal. The best that you can do to balance out a negative collection is to improve on other aspects of your report. I found ways to do that here http://www.myfreecreditreportx.com/how-to-improve-your-credit-score-fast


Can anyone shed some light on the negative credit implications that enrolling in a debt management program could cause?

The debt management program will be entitled to a fee but in long term it can be an asset to work in credit management portfolios


What reasons can be used to Deny consumer Credit?

Too much creditHigh Debt to income ratioNo positive accounts etablished.To many negative accounts.


Does chexsystem have a scoring system like the credit reporting agencies?

No, while the credit repositories disseminate both negative and positive credit data. Chexsystem only gives out negative information about a credit file. For example, if they have presented any NSF checks in a given period and the disposition of those checks.


How do you had positive credit to your credit report?

Pay your bills on time. Don't use more than 30% of your available credit. Establish a long history of paying your bills on time.


Improving Your Chance of Approval?

Getting your loan finance application approved can be difficult. Consumers need to realize that they must have good credit in order to have their application approved. Borrowers who have a history of making on time payments, remain within their credit limits and have a long positive credit history have a better chance of being approved. Also, having a steady source of income as well as a positive history of employment can help your credit application to be approved.


What are bad credit reports?

Bad credit reports are those that show negative aspects of your credit history. The types of issues that cause bad credit are missed payments, too much credit, too little income, etc.


Does buying a car improve your credit?

Purchasing a car can promote good credit by establishing a positive payment history. Creditors want to see that a borrower has good debt and a history of making promised payments.


When a negative remark falls off the credit report after 7 years does it lower the credit score or swing it higher if the debt was never paid?

When the negative debt is completely erased from your credit history, your credit score will experience an upward swing. Also, the longer time goes by and you have clean clear credit (and the debt is still on your report), your credit score will improve.


If you add another cardholder to your barclaycard credit card will their credit go up as well as yours?

Actually if you add someone as an authorized user on your credit card, THEIR credit will go up but nothing will change with your credit. You are giving them the benefit of your positive credit history.


What would be the implications of receiving a default notice on your credit card?

There are many implications of receiving a default notice on your credit card. These may include having to go to court or possibly even declaring bankruptcy.


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