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people can have several credits, line of credit, credit cards and equity in their home to name a few.
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What is a healthy mix of types of credit use on your credit report?
revolving installment and real estate credit
Where is it possible to refinance a home mortgage if someone has bad credit?
There are many places a person can go to refinance a home mortgage if they have bad credit. Bad Credit OK and Quicken Loans are two websites a person can use to help refinance their home mortgage.
When might one want to use a credit card?
A person might want to use a credit card for making various purchases. For example, a person might use a credit card to purchase a TV or pay for his/her bills.
How do credit card companies use a persons credit report?
To determine if that person should be given a loan or credit card
Can you have a second person on a credit card?
It depends what you mean by a second person. Typically on and existing credit card you can add people who are authorized to use the card. You can also request for credit under more than one person's name.
What is a healthy mix of types of credit use on your credit report?
revolving installment and real estate credit
What if person uses deceased persons credit cards?
The use of a deceased person's credit card would constitute credit card fraud. Unlawful use of a credit card is a criminal offense.
Where is it possible to refinance a home mortgage if someone has bad credit?
There are many places a person can go to refinance a home mortgage if they have bad credit. Bad Credit OK and Quicken Loans are two websites a person can use to help refinance their home mortgage.
When might one want to use a credit card?
A person might want to use a credit card for making various purchases. For example, a person might use a credit card to purchase a TV or pay for his/her bills.
How do credit card companies use a persons credit report?
To determine if that person should be given a loan or credit card
What are the factors for cibil score calculation?
You get a 3 digit score from CIBIL which decides if you are a credit worthy person or not. Below are the parameters which are taken into consideration while calculating the score: Payment history: 35% Amounts owed: 30% Length of credit history: 15% How many types of credit in use: 10% Account inquiries/New credit: 10% In case, you default in making the payments the first two parameters gets a major hit on your score and then it takes a while to rebuild your credit history.
Can you have a second person on a credit card?
It depends what you mean by a second person. Typically on and existing credit card you can add people who are authorized to use the card. You can also request for credit under more than one person's name.
Can you get in trouble for using another person's credit card?
yes you can if the person has life lock (additional answer) If you use another person's credit card without that person's permission, that is theft, which is a crime for which you can go to jail.
What type of MasterCard credit cards are accepted at Sears?
There are two types of Mastercard credit cards accepted at Sears. Sears accepts the Sears Mastercard through Citi and the regular Mastercard. You can use whichever one fits your needs as you are shopping at Sears.
How is having good credit beneficial?
A good credit rating allows a person to gain more credit and at preferential rates. This is because lending institutes use a credit rating to establish if a person has a reliable history of repaying money on time.
If you authorize someone else to use your credit card and that person does not have good credit does that affect your credit score?
No they don't care, so long as the expenses on your credit card are paid.
Determine beacon score?
Determining a beacon score is difficult, they use a number of factors: Credit history length Payment history Credit utilization ratio Types of credit used
