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No open accounts you have no credit score how can you get a credit score?
Wiki User
∙ 14y ago
But how do you establish a credit history? Well, you get a credit card, of course. It’s a frustrating conundrum, but luckily, there are a few easy and inexpensive steps you can take to establish your credit history.
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Harshal Patel
Wiki User
∙ 14y agoOf course you have to open an account or a credit cards for you to be able to get a credit score. I personally get a credit cards and check my three credit report from different bureaus.
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If your request for credit is denied by a credit card issuer such as American Express does it negatively impact your credit score?
It can..it depends on how many open credit accounts you have. But will only have minimal impact on credit score.
Does your age affect your credit score?
No, but your credit history accounts for about 15% of your credit score.
Does an open unused line of credit hurt or help your credit score?
Open positive accounts with 0 balance is always good especially when they age, just leave it open.
Will leaving zero balances on open credit card accounts help your credit score or should they be closed to help your score?
Yes!! As long as they are at zero, you do not need to close them to help your score. Just don't open any new ones!!!
Does closing cards yourself affect credit score?
Yes, closing old accounts negatively impacts your credit score because it shortens your length of history which makes up 15% of your credit score. Keep you old credit cards open, even if you don't use them.
If you close open accounts will your credit score go up?
NO! THE OPPOSITE HAPPENS, YOUR CREDIT SCORE WILL LOWER. KEEP YOU ACCOUNTS OPEN EVEN IF YOU HAVE A ZERO BALANCE. NEVER, CLOSE AN ACCOUNT IF YOU CAN AVIOD THIS.
If your request for credit is denied by a credit card issuer such as American Express does it negatively impact your credit score?
It can..it depends on how many open credit accounts you have. But will only have minimal impact on credit score.
Does your age affect your credit score?
No, but your credit history accounts for about 15% of your credit score.
Does an open unused line of credit hurt or help your credit score?
Open positive accounts with 0 balance is always good especially when they age, just leave it open.
Will leaving zero balances on open credit card accounts help your credit score or should they be closed to help your score?
Yes!! As long as they are at zero, you do not need to close them to help your score. Just don't open any new ones!!!
What are the five things that are used to calculate your FICO credit score?
Number of credit inquiries, number of open accounts, length those accounts have been open, payment history, percentage of available credit...there are more, but those are 5 big ones.
Can having too many charge accounts or closing extra accounts negatively affect your credit score?
if you have too many open accounts and owes money, it does affect your credit score. your debt ratio is too high, and you will have difficult time applying for any kind of loans. when closing your accounts, and they are paid off. at first, it will lower your credit score, then will incrase following month or two. asian623 http://www.myspace.com/scionturboracing
Does closing cards yourself affect credit score?
Yes, closing old accounts negatively impacts your credit score because it shortens your length of history which makes up 15% of your credit score. Keep you old credit cards open, even if you don't use them.
What information goes into a credit score and what information does not?
your bill payment history, the number of accounts you have and what kind, how long you have had your accounts open, and your recent credit activity.
If you paid off three out of four of your credit card accounts how many points will this raise your credit score?
Maybe a lot, maybe none. Your credit scores are calculated based on ALL the information in your credit file at the time they are requested, not just these four accounts. Were all accounts paid as agreed? What were the dates the accounts were opened? What available credit did you have prior to closing 3 and how much available credit do you have now? Were the accounts delinquent? Do you have any other existing open accounts? What are the dates those were open? As you can see, the pieces of information fit together in a very complex way. One piece of data affects several others and can alter the whole equation. Once again, that is what a credit score is, a computation based on the accounts you have open.
How do you improve a credit score of 700 with many open accounts and a short credit history?
700 is almost perfect. It would be nearly futile to try to improve it.
How do collection accounts affect your credit score?
== == Collection account are 20% of the total credit score module.
