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When an item is removed from your credit after 7 years does it still affect your credit score?
Wiki User
∙ 11y ago
No, but you may need to contact all credit bureaus to make sure the item has indeed been removed.
Wiki User
∙ 11y ago
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You dont have a credit card can you still get your credit score?
If you have never bought anything on credit, you do not have a credit score.
Does being in good standing with a current credit card rise your credit score even though you still have collections and chargr offs?
Keep in mind that what you have done in the last 24 months is what considered most. You can be in good standing with your credit card--but not using it properly will still affect your score. As Phil Turner said in his book titled "The Credit Bible" "If your credit card balance is over 30% of the balance, this will affect your score." Those collection account and charge offs will hurt, but not as much in 24 months.
After seven years when debts from a bankruptcy are removed from the credit portion of your credit report will the bankruptcy still reported in the public record portion affect your credit status?
bankrupcires stay on for 10 yrs. But when you gfinalize the bankruptcy the debts are automatically removed anyways.
If someone submits a business credit card application does that affect the personal or business credit score?
According to bankrate, if someone submits a business credit card application it affects their personal credit score. Since it's still their own business card, it's considered their personal item.
How does working with a credit card settlement company affect your credit score?
It is recommended that you pay an old debt through the original creditor. Credit settlement companies are out to make a profit and they will negotiate terms that are not true. Also, it is possible that you can pay the settlement company but still owe the original creditor. It has happened to me. The negative information reported by the credit card settlement company will affect your score negatively.
You dont have a credit card can you still get your credit score?
If you have never bought anything on credit, you do not have a credit score.
Where can I find financial advice on mortgages?
It will affect your credit score, but not in a negative way. Paying anything off early or making more than the minimum payment always has a positive affect on your credit score. However, first check with your mortgage company to make sure they will not penalize you for paying your loan off early, some companies will do this. (but that still wouldn't affect your credit score.)
What if you don't have any credit do you still have a credit score?
Yes you can have credit from before that might be a very bad credit score:(
How do you get accounts that have been closed for a long time removed from your credit report?
You get closed accounts removed from your credit report in the same manner as any other information. You write a letter of dispute to the creditor, or credit bureau, or both. The question is; why do you want closed accounts removed from your credit? If these accounts were paid as agreed, their appearance on your credit report is still offsetting any other information that appears there. I have clients with closed, 6-10 year old, accounts and active derogatory accounts that still have viable credit scores. Were they to challenge and have removed the closed accounts, they would have no score at all, which can be worse than having a low score. Keep in mind that your credit report, and the resulting credit score, is a history of how you have paid your bills in the last 7 to 10 years. You do not necessarily want that history to be empty.
Does being in good standing with a current credit card rise your credit score even though you still have collections and chargr offs?
Keep in mind that what you have done in the last 24 months is what considered most. You can be in good standing with your credit card--but not using it properly will still affect your score. As Phil Turner said in his book titled "The Credit Bible" "If your credit card balance is over 30% of the balance, this will affect your score." Those collection account and charge offs will hurt, but not as much in 24 months.
After seven years when debts from a bankruptcy are removed from the credit portion of your credit report will the bankruptcy still reported in the public record portion affect your credit status?
bankrupcires stay on for 10 yrs. But when you gfinalize the bankruptcy the debts are automatically removed anyways.
If someone submits a business credit card application does that affect the personal or business credit score?
According to bankrate, if someone submits a business credit card application it affects their personal credit score. Since it's still their own business card, it's considered their personal item.
I had a car repossessed 4 years ago but my credit report does not mention repossession only account sent to collections?
This is better for you since is happened over two years ago. However, it will still affect your score. As written in a Phil Turner's book titled "The Credit Bible." I would sugguest that you do nothing for now and try to add good credit to your profile e.g a Secure Credit Card and Merchandising Card. This will really help your score and won't affect your from getting another car since they are more concern with your score. Also you still have a family member to add you to their credit card but don't have the card in your possession. This way they can be assure that you want use the card and affect their credit. This will increase your score greatly however, this method is coming under fire recently. It is still an option for now.
How does working with a credit card settlement company affect your credit score?
It is recommended that you pay an old debt through the original creditor. Credit settlement companies are out to make a profit and they will negotiate terms that are not true. Also, it is possible that you can pay the settlement company but still owe the original creditor. It has happened to me. The negative information reported by the credit card settlement company will affect your score negatively.
What is the average expected credit score to receive a mortgage loan?
There is not an average expected credit score to receive a mortgage loan. You may have a low credit score, and an high income and still be able to qualify. Loans are not just based on credit score.
What is a Charge-off in a credit report?
A charged off account is similar to a collection on your credit report. The creditor has written off the debt owed and closed the account. The debt is still valid though and can be collected on. The charge off will lower your credit score unless removed. You can dispute a charge off and this give the credit bureaus 30 days to verify the charge off or it must be removed from your credit report.
Credit score of 628 you recently got your credit report and found errors and had three bad things removed from your credit report How much should that bring your credit up?
It depends on what the three derogatory items were. In general, deleting the three errors would increase your credit score 40-60 points, but if other factors were still present on your score model such as past-due delinquent accounts, collections and liens there could be as little as a 5-10 point increase.
