All Questions
15
questions
0
votes
1
answer
106
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
1k
views
Does closing car loan lower credit score?
The final payment on my car loan is due in December but I made a payment for the total payoff amount this month to close the account. The only account I currently have open is a credit card. Before I ...
- 1
1
vote
3
answers
197
views
Mitigate Effects Of Credit With Tangible Money
This question is not how to build credit quickly, although those strategies will be used simultaneously to prevent having to use the answers to this question again.
As a new graduate, I have had a ...
- 121
5
votes
3
answers
798
views
Is it worth it to take a car loan to improve credit ratings?
I've been considering buying a car recently, but I know that, as I am young, I don't currently have a credit score, as I really haven't needed credit up until now.
So, would it be better to take a ...
- 262
2
votes
2
answers
516
views
How do credit-builder loans show up on credit reports?
To boost folks' credit scores, a financial product called a credit-builder loan provides a loan of cash that borrowers can't spend, which is paid off a bit each month. The primary effect (and benefit)...
- 2,905
3
votes
1
answer
755
views
About to pay off car loan, how to maintain credit score?
I will soon be finishing paying off my car loan (yay!). This will be paid off with what is a normal monthly payment, not a large sum I'm throwing at the loan, so stretching the loan out longer (if I ...
- 1,322
0
votes
1
answer
377
views
Taking a small loan to improve Credit Score
Younger me made some horrible financial mistakes.
Now as the idea of a house loan is not a far distance fantasy anymore, I think about how to improve the score. I already read several sources to ...
- 198
29
votes
7
answers
21k
views
Making a big purchase over $2500. I have the money to cover it. Should I get a loan or just place it on credit?
I am planning to make a big purchase. I have the money in savings to cover it, but I don't want to drop $2500 all at once if I can avoid it.
I have a credit card with a $9000 limit, but I know that ...
- 1,199
1
vote
1
answer
162
views
Applied for loans but chosen not to take them, will this look like I was refused?
So I applied for several loans to buy a car, trying to take advantage of the low interest rates at the moment. All of them came back with higher interest rates than were advertised. I've subsequently ...
user24734
1
vote
1
answer
3k
views
How can I take out a personal loan as a minor with a co-signer other than my parents?
I'm currently in the process of buying a truck worth $8,000.
The seller will only hold the truck for me for a week.
It is a private party selling the truck (through craigslist)
I currently own a ...
- 11
0
votes
0
answers
45
views
What loan options are there for minors? [duplicate]
I'm not yet 18, but I have been studying business for quite a while, paper trading, investments, etc. at this point, I'd like to try my hand at building some credit and making some money, but I am ...
- 1,383
7
votes
2
answers
27k
views
I am under 18 years old, in the US, my parents have terrible credit, how can I take out a loan?
I am under 18, currently shopping for a car. Like many people, I don't have enough money sitting in my bank account to purchase a good car, around $6,000 to $10,000. However, credit checks have ...
- 1,383
38
votes
8
answers
4k
views
Optimal way to use a credit card to build better credit?
I have a credit card with a $700 limit and I am curious how to optimize credit gain with it. Right now, I use it once a month (usually on something small like a drink from a convenience store or ...
- 719
5
votes
3
answers
4k
views
Will paying off a loan early hurt my credit?
I recently purchased a vehicle and took out an Auto loan from the local credit union. I have run into some extra cash and can actually pay off the car completely. I have a very little credit history,...
- 335
4
votes
2
answers
500
views
Should I try to optimize my credit score before applying for a loan?
I am considering shopping for a house somewhere this year, which of course would involve shopping for a mortgage. And mortgage rates depend on the credit score. My credit history is clean from trouble,...
- 3,306