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The consumer should not spend more than what percent of their take home pay each month on credit purchases?
Ideally, a consumer should not use credit to make purchases that the consumer would otherwise not afford. The consumer should aim to pay off all credit balances at the end of the month. Technically, the aim should be to spend 0% on credit purchases.
Where can one find a consumer credit reporting company?
You can find a consumer credit reporting company by asking the local bank and they should have the correct contacts and information to help you out with what you need.
How do you esablish credit?
Start off first by getting a Sears, Target, Circuit City or similar in-store credit card. After making purchases and payments on that for six months, you should become eligible for small limit credit cards. Keep making purchases and payments on all credit and shortly you will have established a ground credit. DO NOT GO OVER LIMITS, MISS PAYMENTS, OR INQUIRE INTO TOO MANY CREDIT ACCOUNTS.
How can you boost your credit to from 550 to 640?
To boost your credit from 550 to 640, you need to make regular purchases monthly that you pay monthly. This means, whatever you purchase for a particular period should be paid in total and not minimum. However, this should be done naturally. The amounts should vary and don't make it appear that you have the money to pay for your purchases and you don't need a credit card. Also, make use of other credit that is recognized by the bureau as part of a credit report. You can visit the official website of the Trade Commission for more information on this.
How can you better your credit score?
There are thousands of good people migrating to USA, they will need a good credit score over a period of time for various purchases. So the moment he comes into USA he should buy a secured credit card, make purchases through that card & pay the entire payment well before the due date, this is a sure shot way of bettering the credit.
The consumer should not spend more than what percent of their take home pay each month on credit purchases?
Ideally, a consumer should not use credit to make purchases that the consumer would otherwise not afford. The consumer should aim to pay off all credit balances at the end of the month. Technically, the aim should be to spend 0% on credit purchases.
A consumer should not spend more than what percent of their take-home pay each month on credit purchases?
10%
When posting a column total in the purchases journal a credit should be posted to?
accounts payable
What transaction should I put on debt side and which one I should put on credit side?
All purchases on debit side and all sales on credit side.
Where can one find a consumer credit reporting company?
You can find a consumer credit reporting company by asking the local bank and they should have the correct contacts and information to help you out with what you need.
Where should you put the purchases and sales of inventories on credit on statement of cash flow?
in Account payable and account receivable
Does cost of goods sold account have a debit balance or a credit balance?
Expense accounts should always be debit balances. The only exception is when you are recording discounts received on purchases in a separate account than the COGS account used for purchases. Discounts should be shown as a COGS account so that it is netted against purchases, and will have a credit balance. But even in this case, the total of all COGS accounts should be a debit balance.
Which debts should be paid off first?
For consumer debts, credit cards. Highest interest.
How do you esablish credit?
Start off first by getting a Sears, Target, Circuit City or similar in-store credit card. After making purchases and payments on that for six months, you should become eligible for small limit credit cards. Keep making purchases and payments on all credit and shortly you will have established a ground credit. DO NOT GO OVER LIMITS, MISS PAYMENTS, OR INQUIRE INTO TOO MANY CREDIT ACCOUNTS.
Does disputing unauthorized charges lower one's credit score?
No it should have no affect on your CR. All charges that a consumer feels are invalid should be challenged. With the CRA and with the credit issuer.
How can you boost your credit to from 550 to 640?
To boost your credit from 550 to 640, you need to make regular purchases monthly that you pay monthly. This means, whatever you purchase for a particular period should be paid in total and not minimum. However, this should be done naturally. The amounts should vary and don't make it appear that you have the money to pay for your purchases and you don't need a credit card. Also, make use of other credit that is recognized by the bureau as part of a credit report. You can visit the official website of the Trade Commission for more information on this.
Who has access to personal consumer credit reports?
A consumer has access to his own credit. When you apply for loans, you authorize the lender to pull your credit. You also give permission to prospective employers as well as in other matters where the information is relevant. Collection agencies pull your credit to research information about your situation, your employer, current address, etc. The general public does not have access to credit files. Those who have access to personal consumer credit reports, are the credit agencies, credit card companies (should you apply), mortgage firms and banks, and car dealerships (should you buy a car and not pay in cash).
