Improving Your Credit Rating

If the credit rating is factual then it can't be removed till 6-7 years has pasted. If the derog/negative information has past few years then it won't be very significant if you've paid and kept your balances low since then. If the consumer feels it's bad and has an explaination to a bad rating, he/she can put a consumer narrative on thier credit bureau. A consumer narrative is a brief explaination that can be put on the consumer's credit bureau file so that when a lender/merchant pulls a credit bureau file, they will know that the consumer has looked at thier own file and has given an explaination.

If the credit rating is NOT factual then the consumer needs to report it to the credit bureau and to the merchant to investigate before correcting the rating.

yes, we all have debt, it depends on how you handle it.

credit rating is how a merchant/lender evaluates how a consumer is going to pay them back. In order to do this they pull a credit bureau on the consumer. They evaluate the consumer's credit obligations ie) debt load (money they owe to creditors), payment history (when payments are made on time or not), age of accounts ( how long the consumer has had creditors for).

Information is on your credit bureau for 6-7 years. If you are requesting information to be removed, the credit bureau needs to investigate into the matter. The consumer should check with the merchant to see in fact the payment history is correct. Also be aware on most credit cards the consumer has within 30 days after the statement date to report any errors

CVV is a code: Card Verification (Validation) Value.

That depends on the consumer using the credit card. Paying on time and keeping low balances will keep your good credit standing ...good. Not paying on time and having the balance close to the credit limit will decrease your credit score dramatically

Having a lot of credit cards is not good either because the risk of possibly being in debt is high.

Also if you apply for a new credit card it will reduce your credit score because it's consider a new loan with no credit history, as the credit card gets older and more established the score will go back up.

First of all, it's not really the credit card company putting a consumer in bad credit standing. It's due to the consumer not paying thier bill on time.

Information on payment history is on your credit bureau for 6 years.

debit

640

You may be required to have a co-signer or a roommate that does have credit.

55.6 INR

Yes. You probably have high balances and don't pay your bills on time. The best thing to do is probably try to reduce your balances and to pay on time. It's better to pay earlier, instead of waiting for the due date since interest is charged daily. And make sure you make a payment on each statement because if you make two payments on one bill, thinking the other payment was for the other bill, it will be consider a late payment.

It's a debit card from United Kingdom called "Switch." You can find a link to credit card bin (prefix) numbers below.

yes, the later (746) is better than the 650 score. The higher score 746 probably means you've had credit card for a long time with low balances. This customer usually pays in full and doesn't pay interest. The 650 score probably has mid balances and may have had a few lates within the past few years

No, because when the credit card company access the credit bureau, they access the name who applies for the credit card, not the spouse's name. It's the primary cardholder who is fully responsible for the debit.

If the wife gives her husband an authorized user card from her credit cards and the husband doesn't pay. The wife's credit card will be destroyed if she doesn't pay the debit (even the charges he makes)

So make sure you both keep your credit cards separate so that you both maintain your own good credit histories. Especially (heaven forbid) you both separate/divorce

no

That depends on, what's on your credit bureau file. The score will look at the age of your credit cards, balances and payment history

APR is based on how much the Merchant charges you. Every merchant has a different APR rating system

Having an authorized user card does not help the authorized user's credit bureau score.

ie) if I had good credit and I gave someone an authorized user card, that person's purchases would be on my statement and I would be responsible for the other person's purchases. If I don't pay for the other person's purchases, it would reflect on my credit bureau negatively as not paying on time and be charged interest.

If it is a corporate card I would imagine it is in the name of the company and not your name. If that is the case it shouldn't impact your credit.

Okay two things. I need $3000 dollars right away like now whether it be through grants, loans, or credit cards. Second thing is I will not give out my credit score here, but it is between 620 and 650, so it is considered in the "fair" range.

I know it may take more than one credit card to reach that high, but the possible impact on my credit score, minimum monthly payment, interest rate, and fees are all factors that I am researching.

How can I make this possible? I know it may be hard, and that it may take more than one credit card, but I am up to the task of paying it all off.... I hope.

Also, it is worth noting that despite my fair credit rating, I have been declined for personal loans at banks and online. I suspect it is probably due to my lack of collateral. I also recently took on a new job and was not able to fully disclose accurate income figures.

Please give me any advice.

If you have n't a sufficient credit score, you don't pay off your credit history. It is impossible.

1 day

That depends on the merchant, that your applying for the loan at. It's the merchant that makes the decision on approving/declining a loan. 597 score is probably consider high risk to the merchant because you probably have high balances and some slow payments on your credit bureau file. It's a 50/50 decision for the merchant but probably more closer to the decline side because if they approve the loan, your score will drop more because of having more debt.

Having low score of 575 probably means you have quite a bit of debt (high balances) and possibly slow paying accounts (not paying on time). These customers are usually paying interest every month.