Questions tagged [credit-history]
for questions related to credit worthiness history, related tags credit-score, credit-rating and credit-report
260
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67
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Should I open a credit card when I turn 18 just to start a credit score?
I spend about $20-30 a week on my debit card, with periodic $200-300 purchases every few months. I've thought about getting a credit card the moment I turn 18 and using it to buy everything, then ...
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votes
12
answers
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Is it ever a good idea to close credit cards?
I have a bunch of credit cards with no balance, while others have fairly high balances. I'd like to close the 0 balance cards, but I know that will reduce my overall balance and hurt my credit rating, ...
- 635
37
votes
9
answers
9k
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Purpose of having good credit when you are well-off?
I notice people talk about credit scores for many things, but typically they are:
Helping tools for mortgages;
Ability to get better loans;
Ability to get better financing options.
The general ...
user50524
27
votes
4
answers
6k
views
$7300 medical billing error reported to credit agencies
I opened up a Credit Karma account and noticed a collection in the amount of $7368. It was originated from Eisenhower Medical center. So I called Eisenhower to inquire and after 45 minutes on the ...
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25
votes
6
answers
7k
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Should I, as a young person, get a credit card with "bad" conditions?
I'm a twenty year old in Russia, not enrolled in education, working full-time officially for a software development company. I'm earning a taxed steady income that can be considered decent, yet when I ...
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23
votes
3
answers
729
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Global credit record: Would my good credit history apply internationally?
Does my credit record apply internationally?
For example, if I have a good credit record in Australia, with a car / house loan and a credit card or two, can my good credit rating be seen by banks and ...
- 353
21
votes
4
answers
8k
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How to recover from credit score hit from paying off loan?
My credit score recently took a dip after I paid off my student loans recently.
When I look at the credit report via mint it shows a "not bad" rating for number of accounts opened. ("not bad" is the ...
- 660
21
votes
5
answers
5k
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Confused: Should I be opening more no annual fee credit cards to improve my score with the intention to not use them?
I was told that having more cards and more open accounts was more of a risk factor since you have more credit to abuse. However, this seems to say otherwise that credit trackers actually encourage you ...
- 1,199
20
votes
4
answers
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What can I realistically do to raise my credit score?
I have a crappy credit score. My situation in a nutshell:
In the divorce, the ex got the home, which was then foreclosed on. My name was still on the mortgage. That was in 2009 or so.
I attempted ...
- 3,817
20
votes
3
answers
3k
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Should I really pay off my entire credit card balance each month or should I maintain some balance?
I've heard two conflicting things:
One is that you should pay your entire credit every month, and the other that you should maintain roughly %30, %50 (it varies by who you ask) of your available ...
- 411
19
votes
5
answers
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Is it true that it's better to have bad credit than no credit?
There's a popular saying:
It's better to have bad credit than no
credit.
Is this true?
- 293
18
votes
7
answers
7k
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Open many credit cards while I am young?
I just turned 19 years old and want to start planning for a future of good credit. Should I open many credit cards now so that in 10 years I will have a good history with many agencies, or is it ...
- 321
16
votes
4
answers
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Are credit histories/scores international?
I'm starting work in the US, and I'm wondering if my credit history will transfer. If not, is there a way for me to gain an "international" credit history, or equivalent, in expectation of other ...
- 1,659
16
votes
3
answers
976
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How can I build up credit using a credit card?
I am a poor/broke 20-something, I make minimum wage (or a few dollars above it.)
I've been trying to build up credit, in case I need it someday - the likely event my aging vehicle explodes, for ...
- 431
15
votes
8
answers
1k
views
Relocated to USA. How to get credit card without existing credit history / score?
I recently relocated to USA and have no Credit Score.
Is Secure Credit Card is the only option for me to start building my credit score?
Also please recommend which other credit cards are available ...
- 253
15
votes
2
answers
773
views
Should I keep recently opened Credit Cards that I don't use?
After investigating these questions (1 and 2) I am still in doubt in what to do with my current situation.
I have many credit cards because over the years I have been given better deals on them. So I ...
- 5,825
14
votes
4
answers
4k
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Is it better to have/use more credit cards to build credit history/score?
If someone has a credit card with $5,000-$10,000 credit line, and the average amount of monthly payments of this person is around $1500, what is the best scenario for this person to increase their ...
user109157
13
votes
3
answers
3k
views
What happens to your credit score on prolonged absences from the US?
What happens to your personal credit score when you live overseas for over a decade while only maintaining a checking account and a credit card(used only on the short trips back to US), but no ...
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13
votes
2
answers
36k
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Will upgrading my credit card affect my credit history length?
Background: I recently graduated from college. I have had a student credit card (Visa) with Wells Fargo since 2008 and it is my only credit card. Obviously, I do not want the history of this card to ...
- 365
12
votes
3
answers
7k
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Is it common practice for credit card company to demand to see your income tax forms?
I recently applied for a credit card that my wife has. I was responding to a great offer that I believe this credit card company sent me based on my good credit score and so on.
When I applied online, ...
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12
votes
1
answer
816
views
Myth, or not: If using a secured card to build credit, paying off in part each month has more benefit than paying in full?
Does paying off a secured credit card in full each month not allow me to build a credit history?
I'm asking because reading about regular credit cards indicates that paying in full helps build a good ...
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12
votes
2
answers
1k
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How do I prevent my ex from making bank and credit card accounts using my son's SSN?
As you may see from the history of my questions, my ex-wife is a financial disaster. Forever out of money, forever on the edge of crisis, forever not wanting to hold down a normal 9-5 job. But show ...
- 3,817
11
votes
4
answers
4k
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0 APR Promotional Offer For Credit Cards
I’m currently learning about personal finance and I just found out that there are some credit cards that will give zero interest rate for a certain period of time (10-20 months).
I know that to get a ...
- 115
11
votes
1
answer
479
views
Might it make sense not to look into debt that is in collections?
I happened to glance at my credit report and one of the agencies shows that I have a debt of just over $100 in collections. It appears to be from an emergency room in a previous state (I moved about 6 ...
- 15.1k
10
votes
3
answers
6k
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How do I raise my credit score from 720 to 800?
My FICO 8 score is 721 and my VantageScore 3.0 is 735. I have opened 2 accounts in the past 2 years:
An AMEX Gold card in October 2022
$30k loan in May 2022 to purchase a vehicle
I also have a 30 ...
- 203
10
votes
4
answers
2k
views
Should I max out my first credit card in order to build credit if I can pay the balance immediately?
I was just approved for my first credit card. I will be making a large purchase soon which will exceed my credit limit. I could split the purchase between cash/debit card and my new credit card or ...
- 203
10
votes
4
answers
7k
views
How do I fix my credit score when I have bad things in my credit history?
I am trying to improve my credit score and have been looking for companies to take charge of this effort. But I found them to all be shady at best so I have taken the task upon myself.
I have not yet ...
- 417
10
votes
2
answers
181
views
How to approach eliminating a record in my credit history that is hurting my score
I have a record in my credit history that shows a delinquency from 4/2005 that was paid off but was also marked as a "charge off." As of January 2011, this record no longer shows up in my file for ...
user2730
10
votes
1
answer
684
views
Medical bill sent straight to collection agency
I was very surprised to receive a letter from a collection agency regarding a medical bill incurred during my wife's pregnancy last year. We never received any correspondence via mail, e-mail, or ...
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9
votes
3
answers
4k
views
Why was my credit card just cancelled?
I have had a credit card with Bank of America for many years. I also have a long-standing card with another bank, a Sears card, and a newer card (< 2 years old), for a total of 4 credit card ...
- 965
9
votes
3
answers
3k
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Will closing a checking/saving account have a bad effect on my credit report?
I opened a saving and a checking account in Chase bank. But I decided to close them. I want to know will this has a bad effect on my credit, etc?
I also like to know should I pay money to close my ...
user109157
9
votes
3
answers
5k
views
Why do lenders do a hard pull when they can do a soft pull instead or are these different reports?
After I was done with my month long credit card applications to establish a credit history, I read and discussed more on how to build a good credit history.
During my conversations, I spoke with a ...
- 2,756
9
votes
1
answer
2k
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If Sears is canceling my account that hasn't been used in years, will it hurt my credit score?
I have a Sears credit card that I haven't used in 14 years. They have recently contacted me and told me that if I don't make a purchase by Nov. 30, that they will cancel my credit card. If they (not ...
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9
votes
5
answers
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Ways to establish credit history for international student
I am a student on a F1 Visa in the US.
Being a non US Citizen and on a student Visa, I am unauthorized to work off campus, and so I am restricted to work upto 20 hours a week on a hourly wage and ...
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9
votes
1
answer
327
views
If my identity is stolen, is there another way to authenticate identity to the major credit bureaus other than my credit history?
Supposedly, one is able to monitor their credit rating with the three major credit bureaus to prevent/stop identity theft. However, the yearly report can only be viewed by answering questions about ...
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9
votes
1
answer
4k
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Can I freeze my credit file with no credit history?
I recently received notice from a major company that my personal information (SSN, DOB, address, etc.) has been compromised. As such, I would like to put a freeze on my credit. However, I have no ...
- 193
9
votes
1
answer
175
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Credit freeze and affect on perception as credit risk
In light of the Equifax hack I keep reading that people should apply a credit freeze on themselves at the 3 main bureaus. However, someone told me that their mortgage consultant said that placing a ...
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8
votes
8
answers
7k
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Credit score and financing new car
Little bit about my situation-
Bought a car with cash about 5 years ago, at the time it was a year old. That car is now a total loss and I’m receiving about 5k for it from my insurance. I’m now in ...
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8
votes
4
answers
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What are my chances at getting a mortgage with Terrible credit but High income
I want to get a house in the near future(ideally within 6 mo. to a year) and my credit is very poor right now. Basically, I was working in a job that I could barely make it on, and missed payments on ...
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8
votes
2
answers
2k
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Will paying off an old $8 collection hurt my credit?
Let me explain a little more. I was the victim of a car accident and medical bills went through the roof. I had about $16k racked up, then my settlement finally kicked in 3 years later and paid it all ...
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8
votes
3
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2k
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How can a senior finance building a home with no current credit score but good equity in current home?
Many seniors have paid off their mortgages and car loans and haven't needed to borrow money in years, hence have no current credit score. Senior wants to downsize home but there is nothing suitable on ...
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8
votes
3
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4k
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How bad would maxing out my credit card once a year affect my score
I just got approved for a $1500 cash secured credit card from Wells Fargo.
This means I have no credit history whatsoever, and am going to use this card to establish one.
With fall semester at ...
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8
votes
3
answers
9k
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How do I deal with a clinic billing mistake that was sent to collections?
Recently I created a CreditKarma.com account so that I can keep and eye on my credit. Upon logging in, I noticed I have a pretty low score (not that surprising since I just opened my first credit ...
- 1,362
8
votes
5
answers
1k
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Is NO credit history the same as BAD credit history?
I found the following article which said
If you don’t use a card at all, you have no credit history. That’s
almost the same as bad credit history.
1) Do they mean the same?
2) If YES, why?
3) ...
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8
votes
3
answers
2k
views
Does a balance transfer from a credit card affect our credit score?
If we do balance transfers from our credit card, pay more than the minimum payment within the due date and payoff the entire amount slowly within the specified time-frame, does it improve our credit ...
- 243
8
votes
2
answers
2k
views
What happens to my credit card or line of credit if my bank goes bust?
What happens to my credit card or credit line if the bank goes bust?
I'm not concerned about the BALANCE on them, I'm concerned about losing an older credit line and its effect on my credit history ...
- 20.2k
8
votes
3
answers
3k
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How to build a U.S. credit history as a worker on a visa?
I am 30 and looking serious at moving to the United States to take a lucrative (career wise) job. Assuming I get the job offer and accept it, how can I go about getting credit in the US?
I am from ...
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8
votes
1
answer
313
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Why would something vanish from credit report?
I just got my Fico score (myFico.com) and was stunned when it was 67 points higher then 10 months ago (650 to 717).
I noticed it was missing a medical bill I still haven't paid from 2008 for around $...
- 241
8
votes
2
answers
333
views
Credit Freeze for Minor Child
I was told that identity theft of a minor's credit is a very sought after goal for thieves. Is it true that credit agencies will offer lines of credit to individuals who are not yet 18? Is there any ...
- 1,441
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votes
3
answers
1k
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Do I not have a credit score?
Today I tried to access my credit report for the first time from the three major agencies using annualcreditreport.com.
When accessed through Experian, it gave me a generic error that my report wasn'...
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