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Do you want to lower your credit limit or do you want to go into a creditcard forgiveness program and settle for less than you owe?

Most people do not want to lower their credit card limits because one of the considerations in credit scores is the ratio of amount used to credit limit. You usually want to keep this ratio under 30%. So a card limit of $7500 would have you using credit up to 29% or $2250. This alerts the lenders that you are not in trouble.

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How can you refinance a home loan if you owe more than your property is worth?

More than likely if your credit is good you can still refinance a home that is valued at less than you owe. You would have to roll the difference in what it's worth and what you owe into the new loan. This would only be beneficial if the new loan had a much lower interest rate than your current loan. You can consult a mortgage professional for further details on your options regarding the situation.


What is the difference between a cash advance limit and a credit limit on a credit card?

A cash advance limit is the maximum amount of cash you can withdraw from your credit card, typically lower than the credit limit. The credit limit is the total amount you can spend on purchases using the card.


If you apply for a credit card but you are offered a lower limit than you are expecting do you have to accept it?

No. You can turn it down, you never have to accept their offer.


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Claiming dependents on your taxes can reduce the amount of taxable income you have, which may lower the amount of taxes you owe. However, whether or not you owe taxes depends on various factors such as your income, deductions, and credits. Claiming dependents alone does not determine if you will owe taxes.


If you have a credit card with a 1000 limit. You plan to always pay your card off in full each month. What is the amount you can safely owe on your card?

The only 'safe' amount to owe - is whatever you can afford to pay off each month !

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