Questions tagged [credit-score]
A credit score is a weighted number computed to determine your credit worthiness, and is relevant when arranging for credit or a loan. This tag is to be used for questions related to understanding how things would impact your credit score. Related tags are credit-history, credit-rating and credit-report.
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Paying off all your credit cards but one before statement generation date : helpful?
Some people advocate paying off all your credit cards but one before statement generation date, and maintain a utilization of no more than 9% on that card
Here is my understanding and information I ...
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How can a Canadian establish US credit score
I don't have a SSN or US address.
I would like to start establishing a credit score in US. What are my options? What is the fastest way?
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Does your total credit limit or debt affect how much new credit you will receive?
Say a friend of mine owns 10 credit cards with a total credit limit of $100,000 with total CC debt of $10,000. Does the total credit limit affect how much new credit will be approved? Does CC debt ...
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Why is low credit utilization considered good?
I am a beginner at using credit cards. [My first credit card is a month old now].
I am reading this blog post, where I came across this line about credit utilization:
if you have a $10,000 credit ...
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How can I understand historical changes in my credit score?
In October 2018, my wife's transunion credit score blipped down from a consistent 780 to a consistent 680. When I called to complain, Transunion noted that one of her credit cards seems to lag behind ...
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Taking a car loan vs cash and effect on credit score
As a follow up for Should I finance a used car or pay cash? Will taking a loan improve a credit score? Does it matter how long it takes to pay off the loan? I wonder if taking a loan and paying it off ...
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To what extent should I seek additional credit? How much is enough?
I currently have 2 credit cards, each with a $2500 limit. I rarely exceed 20% utilization over the course of the month, and I don't expect any increase in expenses over the course of the next year (...
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Credit score getting lower - but I'm doing everything right?
My credit score has dropped considerably in the past year from ~700 - ~600. This is my first credit card so far, and have only used mainly debit in the past.
Thing is, I'm not sure why it's dropping....
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How to improve the late payment score on credit report
I have a question regarding payment history. I am trying to help a friend improve his credit score. My biggest challenge is that my friend has more than 20% in late payments.
My question is how to ...
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Should I pay off a credit card or a collection balance first?
I have a collection and a credit card with roughly the same balance. I received a bonus and I am able to pay off one of them completely. Which is more beneficial to pay off first?
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Credit score and paying my balance before the closing date?
If I pay my balance before the closing date, my balance goes to zero and that is what is reported to the bureaus. Given so, would that hardly affect credit? I want my credit to go up as fast as ...
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Do overdrafts on a checking account affect credit score?
I unfortunately had an overdraft on my checking account and my bank transferred money from a reserve line. Will this affect my credit score? Or is it independent from that?
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When is credit card utilization calculated?
I'm confused on how and when credit card utilization is calculated for one's credit score. Is the credit card utilization percentage calculated based on the maximum balance you had in a given month? ...
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Credit score dropped 73 points after applying for a new card?
Why did my credit score drop from a 762 to a 689?
According to creditkarma I got hit with:
JPMCB-Card Service: Opening a new account can temporarily lower your score because it adds a hard inquiry ...
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