Yes, have you recently opened a new account that is now appearing on your credit report?
You are not being approved for credit is due to your possibly having other new credit (less than 12 mos. old) reporting delinquent (this is what is being referred to as "derogatory credit on recently opened trade lines); each "trade line" is a creditor that you owe money to be it credit card or installment loan.
If you accidentally opened a credit card, you should contact the credit card company immediately to explain the situation and request to close the account. It's important to monitor the account for any unauthorized charges and take steps to protect your personal information.
Credit scores are calculated based on ALL the information showing in your credit at the time they are requested. In addition, they factor in "open" accounts in certain areas. You haven't provided enough information about your overall credit to receive a specific answer. If you have two to four revolving accounts after closing this one, you may be fine. If this is a recently opened account, you may be fine. But closing any account may change the length of time you have had credit (one important factor in scores), or the amount of credit available to you (which would change your ratios, another important scoring criteria). With a detailed picture of your current credit standing, someone with enough knowledge might be able to guess. But it would still be just a guess. The only way you will know for sure is to pull your scores, close the account, and re-pull your scores.
Most credit unions will allow anyone that is eligible for membership to open an account. It depends on what they use to verify a checking account when opened as to if they will allow you to open a checking. Some use a credit report and some use chexsystems, ews or telecheck
A chequing bank account can be opened without a credit check at almost every major bank. This includes Toronto Dominion Canada Trust, Bank of Montreal, CIBC, and any others.
Most ccc's will close an account by telephone. It is preferable however, to do so in writing and to request written confirmation of the account being closed.
Chase credit card account can be opened by registering a Chase account using the official Chase website. Once you have a Chase account you will be able to order a Chase credit card.
You are not being approved for credit is due to your possibly having other new credit (less than 12 mos. old) reporting delinquent (this is what is being referred to as "derogatory credit on recently opened trade lines); each "trade line" is a creditor that you owe money to be it credit card or installment loan.
If you accidentally opened a credit card, you should contact the credit card company immediately to explain the situation and request to close the account. It's important to monitor the account for any unauthorized charges and take steps to protect your personal information.
Credit scores are calculated based on ALL the information showing in your credit at the time they are requested. In addition, they factor in "open" accounts in certain areas. You haven't provided enough information about your overall credit to receive a specific answer. If you have two to four revolving accounts after closing this one, you may be fine. If this is a recently opened account, you may be fine. But closing any account may change the length of time you have had credit (one important factor in scores), or the amount of credit available to you (which would change your ratios, another important scoring criteria). With a detailed picture of your current credit standing, someone with enough knowledge might be able to guess. But it would still be just a guess. The only way you will know for sure is to pull your scores, close the account, and re-pull your scores.
Yes, anytime you open a new credit account, even if it is a joint account, it is reported on your credit report either when it is opened or when it is unpaid.
Most credit unions will allow anyone that is eligible for membership to open an account. It depends on what they use to verify a checking account when opened as to if they will allow you to open a checking. Some use a credit report and some use chexsystems, ews or telecheck
You request to open an account with the merchant. For instance, I recently opened an account with a local coal merchant. I pay the merchant's invoice promptly after each delivery of coal.
Yes, in many cases you can be held liable for debts incurred on an account your spouse opened in your name, especially if it is a joint account. It's important to address the issue as soon as possible to minimize any potential negative impact on your credit.
A chequing bank account can be opened without a credit check at almost every major bank. This includes Toronto Dominion Canada Trust, Bank of Montreal, CIBC, and any others.
They will do it by a certain percentage. This percentage will usually be outlined in the contract that you signed when you opened the account. It may be based on the prime rate in the country.
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