All Questions
56
questions
0
votes
1
answer
103
views
How much does having an installment loan in your credit history matter vs simply having a good credit score?
Let's say you want to buy a starter home (at a reasonable budget for your income level) and have an excellent credit score of ~800, but you have zero history of taking an installment loan (student, ...
- 178
0
votes
1
answer
235
views
Is it a good idea to take a loan just to build borrowing history? (United States)
Context
My current car, a hand-me-down from a family member, is 10+ years old with ~100k miles and starting to have enough problems that maintenance costs are quickly piling up. Over the last 2 years ...
- 178
2
votes
1
answer
2k
views
My girlfriend helped me buy a car - Who is responsible if she takes it back?
My original car was totaled, and I couldn't get a car on my own due to bad credit. The dealership approved me at a high rate with money down. When I get my trust fund, I can buy one.
My girlfriend ...
- 21
0
votes
2
answers
1k
views
Extension of Credit meaning
I'm reading some finance literature and often when it refers to loan it instead uses these term:
extending credit
extension of credit
credit extension
When I google define "credit extension&...
- 113
8
votes
4
answers
4k
views
What could prevent a bank from lending to me to buy commercial real estate?
If I want to take out loans to buy real estate with the intention of renting it to cover the interest on the loans, what are the red flags that might prevent a bank from extending a loan to me?
...
- 9,785
1
vote
1
answer
173
views
Is the holiday season an unwise time to apply for credit?
Given the rise in consumer spending during the holidays, do lenders mitigate the increased demand for credit by offering lower credit limits than usual, or having stricter criteria for approval?
- 71
1
vote
0
answers
94
views
What are some of the factors that affect loan pricing?
In an interview for a bank, I was asked about some of the factors that could affect loan pricing.
They asked me which of the following factor should not affect loan pricing:
credit rating of sponsors;...
- 11
-1
votes
2
answers
883
views
What formula would I use to calculate the percent of an APR if I knew the payment, principal, and interest?
I'm writing a blog article about potential scenarios in which I might lend someone money and explain how interests work. In my example, I am lending someone $400 and agreed to pay back $100. With no ...
- 282
2
votes
3
answers
4k
views
What is the difference between a loan and credit?
From other sites I’ve gathered that loans are for long term purposes (12-48 months) with lower rates of interest, while credit is mainly to meet monthly purchases with higher (monthly) rates of ...
- 123
4
votes
1
answer
219
views
Can an individual report data to a credit bureau
What process do credit card companies and financial institutions go through to have the ability to report payments to credit bureaus?
Ex.
I have money I want to loan to someone.
I run a credit ...
- 143
2
votes
2
answers
254
views
What should I expect when applying for credit?
EDIT: It has been suggested that this question is a duplicate of Personal loan while unemployed?. In fact it is not a duplicate of that question, because I'm not asking about getting a personal loan ...
- 21
2
votes
3
answers
305
views
Can you build credit history without getting a credit cards or taking on debt?
As far as I know I have no credit history as I have never had a loan or credit card. I buy things using a debit card tied to my credit union bank account and prefer not to have a credit card at all. I ...
5
votes
1
answer
1k
views
Should I take advantage of "interest-free" credit when buying something? [duplicate]
If I buy something like a smartphone or a new PC, when you have these choice:
Pay all the cost at the moment.
Pay it in 6/12/18 months (with loan but without any interest rate and any extra cost).
...
- 153
0
votes
1
answer
150
views
Do I have too much available credit?
For some background, I'm a recent graduate doing mostly freelance work while teaching English on the side in France. My freelance work grosses me about $25,000/year, and my job in France is about $8,...
- 1,074
1
vote
2
answers
3k
views
Car is under my girlfriend's name, can I refinance it?
Last year I needed to buy a car, but my credit was bad, so my girlfriend at the time let me use her credit to buy it. Now almost 2 years later I have to buy a different car so I can take out of the ...
- 11