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The time involved has little effect. It depends on your income to debt ratio. Higher income, lower debt is good, while lower income and higher debt is bad. It also depends on the total amount used of you current available credit.

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โˆ™ 2005-09-06 04:45:33
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Q: What is the impact on a credit score of getting a car loan within a year of buying a new home as a first time car buyer and home buyer?
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How can someone rebuild credit after a bankruptcy?

To rebuild credit after bankruptcy, you should make sure you that you stay within budget by only buying what you need to stay alive, thus saving as much money as possible. Also, make sure that bills are payed in time, even if this causes negative balance on your bank account. This shows that you are capable of paying your bills, wich will help with getting credit in the future.

When you have had perfect credit with no negatives how does a past due from a store card effect your credit?

Credit scores are calculated based on ALL the information showing in a report at the time they are requested. That having been said; any derogatory information, like a late payment, that gets reported within the past 12 months would have a significant impact on the score. This impact would be most notable on a consumer's report with no other derogatory information.

If you reinstate your old credit card does that lower your chances for getting approved for another credit card from a different bank within the same month?

It will not lower your chances for being approved, it actually may raise them a little bit. Each lender has their own criteria for extending credit.

How can you stay away from getting bad credit?

Live within your means. The simple rule is don't buy more than you can pay for. If you take out a loan, and a credit card can be a type of loan, make sure all your payments are made on time. If you pay off the credit card every month, you will develop a good credit rating.

What To Consider Before Getting A Credit Card?

If you want to get a credit card, the first thing to do is to find one that does not have a high interest rate. By doing this, you will be able to avoid extra fees that are associated with your purchases. The next thing you will want to remember when getting a credit card is to avoid using it to buy menial things. Credit cards should only be used in emergency situations when money is tight within the household. Living debt-free really does start with regulating your credit card use and how the members of your family use it.

What did credit look like in the 1920s?

joe - The start of the decade came with a new way of buying luxuries, what we call today credit. Back then there was no government controlled credit so you basically walk in to store talk to the store owner about what you want to buy using credit and you will arrange something with store owner. There were no credit cards at the time so each store you used a credit, you placed a tab, and if you didn't pay within a certain deadline creditors would come and reclaim your possessions

Can you be approved for a quick loan within an hour?

Depending on where one applies for a loan, one can be approved for a quick loan within an hour. Credit checks can be done within minutes often and if you have a good credit score.

Does it hurt your credit score if you open 1 or 2 credit cards with a 12 month deferral of payments and interest with the intent of paying these off from a mortgage refinance within that 12 months?

The deferral option itself will not have a significant effect. The debt to credit ratio that might be incurred during the time period, will definitely change a credit score. Therefore, deferred accounts can have a negative impact on the CR.

Are oreck vacuums guaranteed with a warranty?

Vacuum cleaners purchased from there can be returned within 30 days of purchase, either with refund or a credit. However, they're not liable for and damage resulted from misuse or excessive impact.

Where can I inquire anything about car loans?

Applying for an auto loan counts as an "inquiry" on your credit report. While the number of inquiries is a factor in your credit score, it generally has a relatively small impact, with elements such as past payment history and use of credit receiving much more weight in the score. If you make multiple applications for a car loan within a 45-day window, it lessens the impact because most of the credit bureaus realize you're shopping for a car loan. Read more: Does car loan inquiry hurt credit score?

How to clean up credit report after bankruptcy?

Keep in mind that a bankruptcy will affect your credit score. What you must do now is add good credit e.g. secure credit cards and maybe a secure loan will increase your credit score within 2 years. Your credit scrore primarily judge consumers on what they have done within the last two years. If you add good credit, your score will increase.

Changes in Malaysian Society in the last 20 years which have had a major impact on human resource management within organization?

what are major impact on human resource management within educational institutions

Where can one get tax credit for energy efficient websites?

One can learn more about getting a tax credit for energy efficient websites on energystar and My making energy efficient changes within the home one may be entitled to a small tax break.

How much money do you waste buying uniforms within a year?

Buying uniforms isn't a waste of money. So the answer would be $0.

Are there hidden fees when getting a prepaid debit or credit card?

Sometimes yes. There are fees if you don't use it within X months, and generally fees for making purchases or withdrawing money.

What is domestic commerce?

The buying and selling of products within a particular country

If a credit application is rejected the creditor must give you the specific reasons or tell you how you can obtain your credit results if you ask within how many days?

You need to ask within 60 days.

How do you remove a false charge off date from your credit report if the date was reset from the original?

You can have a credit dispute, if the agency reporting the bad judgment does not get back with the company disputing the judgment within 30 days, it HAS to be removed from your credit report. Example: I filed bankruptcy(?) on a auto repo. and the company did not take it off my credit report, I had my credit card company do a credit dispute, they did not respond within 30 days, and it was removed from my credit report.

What is the CPS Credit Union exactly?

The CPS Credit Union is located within Australia. It is the union which caters to the needs of Australians when having to do with their credit. Australians visit the CPS to find out their credit information.

What does it mean to have credit?

If you have a credit that is not bad but you have to pay those credit within the particular time. When you apply for a loan for any purpose, the lender will look at your credit score to measure what kind of interest will chargeable for you. So credit score is important.

Does getting denied for a mortgage loan affect your credit score?

Yes, but not to the severity you must be thinking. Inquiries from banks viewing your credit score and report will lower your score by a few points, and excessive inquiries will hurt your chances of any lines of credit. Just don't apply for too many loans or credit lines (2 max a year) within 5 years of your expected application.

When Will The Credit Reporting Agency Respond To A Credit Report Dispute?

Whenever you submit a credit report dispute, the credit reporting agency has as much as 45 days from receiving your dispute to do an analysis. The credit reporting agency generally will get 30 days to research your dispute, but when you signal more details inside the 30-day window, the credit reporting agency will get yet another 15 days, getting the total to 45. Once the credit reporting agency has got the outcomes of the analysis, the agency should inform you about the results within 5 working days.

What is the impact of the digital divide within the UK?

batty boi

What is Intrastate commerce?

The buying and selling of products and services within a single state.

Does having a saving account help with your credit score?

Unfortunately, no. Credit scores were developed to make it easier for creditors to review how a person handled other credit obligations in the past before extending credit themselves. It really just takes debts into consideration (including public records of judgments). the only time a deposit account may show on your credit report is if it has an overdraft feature that allows you to "borrow" a small amount of money to cover checks that may overdraw your account. That debt history may show on your credit report.Fortunately, the credit score is typically only one piece of information a creditor uses to decide whether to extend credit to someone. Depending on the what type of financing you're trying to get, the application for that credit will ask about assets and that's where you would list your savings account. Demonstrating a history of savings is looked on favorably by most creditors.How the credit score we see is calculated is proprietary so no one outside of the credit bureaus themselves knows exactly how the credit score is impacted by the information contained in a credit report. Having said that, we do know some basic information about certain activities and their impact on credit scores. I've listed below some of the generally accepted influences and, because I've been in banking since before there were credit scores (sigh), I can attest to the accuracy of the info.Payment History: Big Impact. Paying debt on time has a positive impact. Late payments, judgments and charge-offs have a negative impact. Missing a high dollar amount payment may have a bigger negative impact than missing a low dollar amount payment. Late payments that have occurred in the last 2 years carry more weight than older items. Every month that passes since the last late payment diminishes that late payments negative impact on the credit score.Outstanding Credit Balances: Big Impact (and appears to be getting bigger). This is a calculation of how much you could borrow as compared to how much you have borrowed. For example if a credit card company issues me a credit card with an available balance of $1,000 and I charge $900 and keep that balance out there month after month that can be seen as living to close to the edge and will have a negative impact. (Remember, it seems that credit card companies only want to lend to people who don't need it :)) If I have that same credit card and only charge $250 I am demonstrating good use of credit in the credit bureaus eyes and that will have no negative impact. This part of the credit scoring model can impact us in 2 ways: Individual credit lines (that credit card of $1,000 I just mentioned) and a total of all my credit card balances as compared to my available credit. It's been suggested, and it makes sense, that credit card balances shouldn't really exceed 30% of available credit on any one card or in total.Credit History: Smaller impact. How long I have established credit (time since I've opened a credit card for example) gives a creditor a feel for how I have managed credit over time. If I have a credit card for 5 years and have made payments on time that looks better than a card opened only for 5 months. I usually council clients to keep cards open and charge on them occasionally just to keep them active (as long as they don't carry annual fees) to keep their credit history length accurate but I'm not sure that this has a really big impact.Type of Credit: Small impact. A mix of auto loans, credit cards, and mortgages is more positive than a concentration of debt from credit cards only. Like most of these factors it's pretty much common sense, wouldn't you agree?Inquiries: Small impact. This quantifies the number of inquiries that have been made on our credit history within a six-month period. Each "hard" inquiry (we have physically given a creditor permission to pull our credit report) can cost from 2 to 50 points on a credit score, but we've been told that the maximum number of inquiries that will reduce the score is 10.In all, it's best to look at our credit report from the creditors point of view and ask "Would I lend money to this person?". If the answer is "no", then there are steps that can be taken to change that answer. The best place to start is to get a copy of the credit report. The only truly free copy comes from It does not include credit scores but, armed with the information above, you can make a fair assessment of what your score would look like. You can also get some good info from the federal government at www.mymoney.govI hope that helps but if you need more info, just ask!