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It depends. If you have been paying this account on time and it is reporting as a positive on your credit and you pay it off, that will be one less positive account reporting to the credit report. If you have too much credit and the amount of credit is making your credit look like you have debt overload...pay it off. I f you have been late on it, catch the payment up and keep it up so that you can have an account that is reporting positive to your credit reports and start cleaning your credit up.
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If you pay off a credit card balance is it bad your my credit report?
not always, depends on your credit situation. keep using and paying off your credit card every month to improve your credit score
What are the qualifications for one to obtain a tenants loan with bad credit?
The main qualifications for obtaining tenant loan with bad credit is to have bad credit in the first place. One can improve later from this by fixing their credit as they accept and pay off the loan.
How can you finance a car loan if you have bad credit?
You need to check your credit score to make sure your credit is 600 or over if not you have to either put a larger down payment or pay off some debt before buying a car. The interest on a car loan with bad credit can be very high.
How improve credit?
You can improve creditby paying off all debts. This would include loans and credit cards or any medical bills. Make sure you have nothing that have been sent to debt collectors. You can also pay off any car loans.
How can one improve their credit rating with no credit cards?
The best way to improve one's credit rating is to pay all of one's bills on time. This is the biggest factor in determining a credit score. Paying off loans, such as mortgages and car loans, can also help one's credit rating.
How can one get out of a very bad credit car loan?
The best way to get out of a very bad credit car loan is to pay it off or let the company take back the loaned car if applicable. If someone is having hard time of paying off his or her car debt he or she must ask the help of some consolidating expert.
Can a bad credit rating for a primary borrower improve once a balance has successfully been paid off even when there are cosigners involved?
It will not improve as much as it would with no cosignor but some. A "bad credit rating" would not be impacted by an account being co-signed, or paid off. Your credit is affected by having an inquiry to open the loan, having a new loan granted, making payments on time (or not, as the case may be). If the loan was paid on time, as agreed, your credit will improve. If it was not, the credit of all signatories will be damaged.
Where can one improve their bad credit due to mortgage rates?
One can pay off their mortgage and therewith reduce his overall debt. Bad credit may also be due to past history, for example if one has already declared himself bankrupt, he will have a bad credit score.
Is it bad for your credit to have too many credit cards even if they are paid off in full every month?
yes, it is bad to have to many credit cards because it shows that you are able to spend this at any time you should keep 2 cards with the longest good credit history and cancel the rest. also to improve your credit history more spend $100 dollars and make monthly min. payments to show that you can pay off something and your credit score will really improve.
Does paying off old bills improve your credit score?
it does not actually improve the score but if they are already turned over to the collection agency - it will just make credit score get worse and worse. the only way to improve score is by paying everything off ON TIME and letting time take it's course. Most bad stuff will drop off within 10 years
What companies give car auto loans to those with bad credit?
There is a company called JD Byrider. They advertise that they will give you a auto loan no matter what your credit score is, and they will help you rebuild your credit while you pay off your car.
How can you remortgage your house with bad credit?
First off, you should contact your lender and talk with them about refinancing options, or loan modifications. Also, try to improve your credit by being on time and not late on bills.
