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This greatly depends on how the credit was ruined. If it was because the person went bankrupt, that will drop off his credit report after 7 years. If it was just from missing payments they should drop off within 3 years. The best way is to get a revolving credit line (such as a credit card) and use it once a year. Use it to pay for gas or buy a stick of gum, then pay it off. Just having a credit line such as this whether it is used or not will increase your credit score. The more you have (up to a point) the better off your credit, however do not exceed 50% on any of these cards. Although the bank has given you this as a max it looks bad if you do max the cards out. Also if you never use the card, the bank will usually close it after one year.
What else can I help you with?
How do you get out of bad credit?
Many online companies offer help to repair and improve your credit score. Here's a company my mom used last year. She said they were patient and not pushy throughout the process. She was happy with them and has gotten her way to getting back to decent credit. yazing.c om/deals/creditrepair/animanifest
If you include your house in a chapter 7 will you have a foreclosure and a bankruptcy on your credit report Will that make it harder to get another house in 2 years?
No and yes. NO if you re-establish your cedit after 2 years. Usually with 3 more credit lines, with at least 12 months excellent payment history and i credit line over $3000. This will generally increase your credit to the mid 650's.. from experience. YES if you continue to make the same poor credit choice. So be careful and please do establish new credit but very wisely.
How can you get a credit card with insufficient credit?
Apply for a secured credit card. Unlike traditional credit cards, which are unsecured debt instruments; a secured card uses a deposit made by the consumer (usually 75%-100% of the line of credit) as collateral against any purchases made on the card. So, in order to get a card like this, a consumer has to make a deposit equal to the amount (or almost equal) of the credit line. Lenders are much more apt to open this much-less-risky type of credit card to someone with no credit history. Once a consumer establishes a satisfactory payment history with a secured card, the deposit can be unsecured. Secured credit cards are an easy and excellent way for consumers to establish or re-establish credit. Try your local banking institution or credit union. Bankrate.com also has excellent information about lenders which offer this type of card.
How can you fix your credit score if it is so bad that you can't even get a credit card for people with bad credit?
As you know already, that when past credit rating is haunting you, it is best to create good credit to offset the bad. The best and easiest way to establish or re-establish your credit is through a secured credit card program. Many banks offer a secured MasterCard or Visa credit card to applicants regardless to past credit history. Applicants can qualify even if they never had credit before. You can obtain the card directly from the bank or through one of their agents for a transaction fee of about $35.00 -- which is well worth it. This is how the secured credit card program works. Applicants will open a savings account and deposit $250 to $500 with the bank that is issuing the credit card. The amount that is deposited will be slightly less or equal to the line of credit you will receive on the credit card and you can increase your limit as you wish, usually not exceeding $2,500. The funds you deposit are receiving interest and are usually frozen up to Twelve (12) months with some banks. If you make regular timely payments for 6 to 12 months, your money will be released with interest and you can have your credit card without the security requirement, or to phrase it better, unsecured with a personal line of credit.
How do you get a loan with bad credit?
A person with 'less than perfect credit' can try to obtain a secured credit card. These cards can come with a couple of hundred dollars in fees but can help re-establish credit. Time is a big factor in re-establishing credit. If your initial application is denied, wait 6 months and try again. Remember that every credit card application can decrease your credit score so choose wisely. Once accepted, use the credit card sparingly [charge small amounts] and repay the balance in full each month. This will help in creating a good repayment history.
How do you get out of bad credit?
Many online companies offer help to repair and improve your credit score. Here's a company my mom used last year. She said they were patient and not pushy throughout the process. She was happy with them and has gotten her way to getting back to decent credit. yazing.c om/deals/creditrepair/animanifest
What is the best way to re spark a relationship?
the best way to re spark a relationship is to see if he\she still likes you and if they do then ask if you guys could hang out some time.
What happens if you just cannot or do not want to pay for a car any more that you have a loan on?
You wreck your credit. Even if you "give the car back", that is called "voluntary repossession" and it ruins your credit. Protect your credit rating. It's hard to establish, and even harder to re-establish... That's why insurance is so important. Wouldn't you just love to be making monthly notes on a totalled out car??
If you include your house in a chapter 7 will you have a foreclosure and a bankruptcy on your credit report Will that make it harder to get another house in 2 years?
No and yes. NO if you re-establish your cedit after 2 years. Usually with 3 more credit lines, with at least 12 months excellent payment history and i credit line over $3000. This will generally increase your credit to the mid 650's.. from experience. YES if you continue to make the same poor credit choice. So be careful and please do establish new credit but very wisely.
How can you get a credit card with insufficient credit?
Apply for a secured credit card. Unlike traditional credit cards, which are unsecured debt instruments; a secured card uses a deposit made by the consumer (usually 75%-100% of the line of credit) as collateral against any purchases made on the card. So, in order to get a card like this, a consumer has to make a deposit equal to the amount (or almost equal) of the credit line. Lenders are much more apt to open this much-less-risky type of credit card to someone with no credit history. Once a consumer establishes a satisfactory payment history with a secured card, the deposit can be unsecured. Secured credit cards are an easy and excellent way for consumers to establish or re-establish credit. Try your local banking institution or credit union. Bankrate.com also has excellent information about lenders which offer this type of card.
How can you fix your credit score if it is so bad that you can't even get a credit card for people with bad credit?
As you know already, that when past credit rating is haunting you, it is best to create good credit to offset the bad. The best and easiest way to establish or re-establish your credit is through a secured credit card program. Many banks offer a secured MasterCard or Visa credit card to applicants regardless to past credit history. Applicants can qualify even if they never had credit before. You can obtain the card directly from the bank or through one of their agents for a transaction fee of about $35.00 -- which is well worth it. This is how the secured credit card program works. Applicants will open a savings account and deposit $250 to $500 with the bank that is issuing the credit card. The amount that is deposited will be slightly less or equal to the line of credit you will receive on the credit card and you can increase your limit as you wish, usually not exceeding $2,500. The funds you deposit are receiving interest and are usually frozen up to Twelve (12) months with some banks. If you make regular timely payments for 6 to 12 months, your money will be released with interest and you can have your credit card without the security requirement, or to phrase it better, unsecured with a personal line of credit.
What does head-butting in bighorn sheep illustrate?
Head butting is both a natural and learned behavior in sheep. It is a way for rams to get into physical shape for the breeding season and to establish (or re-establish) the dominance hierarchy.
How do you get a loan with bad credit?
A person with 'less than perfect credit' can try to obtain a secured credit card. These cards can come with a couple of hundred dollars in fees but can help re-establish credit. Time is a big factor in re-establishing credit. If your initial application is denied, wait 6 months and try again. Remember that every credit card application can decrease your credit score so choose wisely. Once accepted, use the credit card sparingly [charge small amounts] and repay the balance in full each month. This will help in creating a good repayment history.
Do I Need To Reapply For A Line Of Credit If I Previously Had A Line Of Credit That I Paid Off?
A line of credit does not have a fixed time period such as other loans. It’s an adaptive way to get cash when you require it without having to re-apply.
What company has secured credit cards?
Secured credit cards are credit cards which offer the same spending advantages as traditional credit cards, however the individual must provide the initial starting credit. Therefore, if a secured credit card has a 300$ limit, that initial 300$ is usually provided by the individual. These types of credit cards are used by people with a history of bad credit, or to re-establish credit. Many local banks, such as Bank of America and Wells Fargo have information regarding these types of cards listed on their websites.
What is the purpose of a credit card statement?
re
Is bank a debit or credit?
The answer will appear on the statement in re, meaning that it is a negative or credit value.
