I am 17 years old, can I get a credit card?

I have a good job, I pay back all my debts and I feel like I can handle one.

Can I get one? I work for Loblaws who handles the PC Mastercards and I got offered one but I dont want to take it if i am going to get in alot of trouble

I am 17 years old, can I get a credit card?

No you can%26#039;t get one, you are not allowed to enter into credit agreements until you 18.

It would not be allowed either with your parents co signing, your name cannot go onto the credit agreement at all.

Unfortunately, your only option is to wait until you are 18.

I am 17 years old, can I get a credit card?

think u got to be 18

I am 17 years old, can I get a credit card?

You have to be 18 i%26#039;m sure

I am 17 years old, can I get a credit card?

I thought you had to be 18 before you could get credit. Having had a credit card myself, if you are sure you could be strict with yourself, then go for it, but only if you can pay the balance every month so you do not accrue interest.

Why not just save up for things that you want?

Credit is dangerous and its young people like you that are vulnerable.

I am 17 years old, can I get a credit card?

they wouldnt offer u one if u ***** have it..u wont get in trouble for applying..if they reject you cos of your age then you will know u have to be 18

I am 17 years old, can I get a credit card?

I%26#039;m 42 and I don%26#039;t wan%26#039;t to get near a credit card. You%26#039;ll learn when your time comes.

I am 17 years old, can I get a credit card?

You have to be 18 yrs of age. Apply for one then.

I am 17 years old, can I get a credit card?

You have to be 18 to get credit in the UK. They are on about raising this limit to 21.

I am 17 years old, can I get a credit card?

Sorry Jade, you have to be 18. The offer you%26#039;ve had will be rejected once you fill in the form, and they see your Date of Birth

I am 17 years old, can I get a credit card?

in the UK you have to be 18 to have a credit card

I am 17 years old, can I get a credit card?

CIAO SONO VALE MI SONO INFILTRATA!!!

SON ITALIANA!

W VALEEEE!!!!

DOMANI HO INTERROGAZIONE DI INGLESE!!

ENGLISH INTERROGATION!!!!!!!!!!!

HELP!!

I am 17 years old, can I get a credit card?

You have to be 18 to get a credit card, why not have a switch card with a free overdraft

I am 17 years old, can I get a credit card?

In Uk all Credit Cards are issued to people of 18 years and over. They are handy to have but If you don%26#039;t really need one then I wouldn%26#039;t bother applying when your next birthday comes round. Buy what you need to buy with the money you earn and don%26#039;t give the big banks any of your money for simply giving you an alternative buying choice.

I am 17 years old, can I get a credit card?

ye i think so

I am 17 years old, can I get a credit card?

I don%26#039;t think you can get a credit card. I know you can have a bank account card, but it won%26#039;t be like a debit mastercard or anything like that because you must be 18 years old...don%26#039;t rush it..you will be there soon! I am 18 and I%26#039;ve been getting credit cards offers for years, but don%26#039;t take them because you aren%26#039;t of age and it will keep you out of debt.

I am 17 years old, can I get a credit card?

18 is the age limit, I%26#039;m afraid.

I am 17 years old, can I get a credit card?

In the uk you have to be 18, the only one who can get in to trouble with it is you. If you dont spend more than you can afford to pay back then you will be ok. It is a good way of building up your credit rating.

I am 17 years old, can I get a credit card?

I doubt you%26#039;d be the one who gets in trouble if they violated some sort of rule by sending you the card.

I am 17 years old, can I get a credit card?

you got to be 18 to sign the legal stuff for credit - sorry

I am 17 years old, can I get a credit card?

no you can%26#039;t get a credit card till your 18

I am 17 years old, can I get a credit card?

In UK you have to be 18 I%26#039;m afraid....not sure why, seeing as you work....maybe you can be included on a parents card?? as a named person...not sure about that...but the Parent is responsible for the debt.....

I am 17 years old, can I get a credit card?

You have to be 18 to get a credit card, period. You can try to get a student credit card but I don%26#039;t think it will work.

I am 17 years old, can I get a credit card?

i thought you had to be 18 to have one .....but there not great and usually just allow you spend what you dont have which is never a good idea

I am 17 years old, can I get a credit card?

You should leave credit cards alone. You will soon get into debt and may find it difficult to make the repayments.

I am 17 years old, can I get a credit card?

My cat received a visa card. Her name is Shadow. The card reads Shadow (.....) [my last name]. They just want your money. If you don%26#039;t abuse the card and make the payments on time...it will help build your credit rating. Later in life you will need a credit card. Anytime I want to rent a car or make room reservations in a hotel..they want a credit card number. At 17...I felt like I could handle it. Use it and pay it off when you get the bill.

I am 17 years old, can I get a credit card?

YES, YOU COULD DEFINATELY GET A CREDIT CARD AT 17. I GOT MY FIRST CREDIT CARD AT 17. THEY SENT ME THE APPLICATION, BUT MY PARENT/GUARDIAN HAD TO CO SIGN FOR IT. THE CREDIT CARD I THAT OFFERS THIS IS CAPITAL ONE.

I am 17 years old, can I get a credit card?

You usually have to be 18 to sign a legal document. A full time job will also help. If you are going to univ or college, some banks offer students credit cards as a promotion; they advertise on campus.

If you use the card responsibly, you don%26#039;t get into trouble. Thar means being able to prepare a budget based on your income and living withing that budget (including long term savings, if possible); you make charges within your budget and pay them off each month. It also means that you avoid impulse buying or using the card for non-essentials when you money is tight. If you use the card responsibly, you can build up a credit rating (a record of paying the money you owe, when it is due). which will help you get money for a car loan or mortgage in the future.

You get into trouble if you can%26#039;t pay back your credit card debts. I know people who have run up tens of thousands of dollars in debt. The banks also charge high interest rates on credit card debt, which can make a dent in your budget, even if the debt is relatively small.

I am 17 years old, can I get a credit card?

in the uk you have to be 18 to get one, elsewhere it depends on local laws. I doubt if you would get one even with connections, so I would wait until you are 18. When you are get one which gives you money back on purchases eg Capital Ones. And pay it by direct debit in full. If you ever can%26#039;t pay in full cut up the card and use a debit card instead.

I am 17 years old, can I get a credit card?

You can not enter into legal contracts until you reach the ago of majority. In most states that is 18.

Even so, why would you want one. You%26#039;re doing fine without it. Why go into debt just so you can say you have a credit card?

I am 17 years old, can I get a credit card?

If you have to ask if you can have one then you are not ready for the responsibility of having one. Sorry, establish credit with your bank and get one with their support and don%26#039;t ask anyone if you can have one just get it.

Is this a good idea to get credit up?

ok i have really bad credit, fico score is a 558. I%26#039;ve had trouble with paying bills when i was younger. If i got a credit card specialized for bad credit people and just made like a $5 purchase every month and paid it off, would that be a smart idea based off the fact it would be a easy monthly payment, and even with just a $200 card it would be a low debt to available credit ratio that is looked at by creditors? Also to reduce temptation of spending my parents or other trustworthy person will hold onto this card till i make that $5 purchase a month.

Is this a good idea to get credit up?

that would be a very smart idea. that will build your credit back. i did that ,and so has my husband. just by him calling the company%26#039;s that he owed, gave a few payments, got a dell account, got 3 credit cards, and a home depot account, his score went from 523 to 678. start small like you said. it always is a good idea. if your going to be late, make sure you always call them. most of the companies waive the late fee due to you being on top of things.

Is this a good idea to get credit up?

i think you should spend a little bit more beyond $5. If you have a $200 limit then I would think $50 is sufficient. Yes, pay that off in a timely fashion.

Is this a good idea to get credit up?

You need more than one thing.

You need:

(a) Cable Bill

(b) Credit Card

(c) Telephone Bill

(d) Cellphone Bill

(e) Car Payment Bill

(f) Car Insurance Payment Bill

You need to pay every single one of these on time for 7 years straight at a minimum.

You need to call the credit companies and make sure every single one of these is reporting to them every single month like clockwork.

You need to make sure you NEVER pay off the full amount on any of them - leave a hanging balance.

For the Credit Card, you need to be pusing around about $50 to $100 a month for it to work at full efficiency.

Also - buy a Whole Life Insurance Policy and keep paying into it. When you have equity built into that, you can use that policy to get a 0% loan to use as your down-payment on a house.

Once you have the house, reduce or get rid of whatever you can on the other credit items, and keep the house as the one major payment every month - keep paying that one for at least 7 years straight, and then your credit will go even higher still.

Is this a good idea to get credit up?

it is ok, but you do not need to use it each mouth. try use it 2 times a year.

Debt consolidation?

i am currently in debt from some credit cards and i was thinking about doing something about it though debt consolidation company but i am not sure about it. has anyone used a consolidation company before and was it a good or bad experince? is there anything that i should know before doing it?

Debt consolidation?

Credit card debt consolidation adds up all your unpaid balances and converts them into a single payment. This payment is far lesser than each of the individual payments.

When you finalize a plan with a debt consolidation company, the company repays your dues to your creditors. Then you make a single payment to the consolidation company every month. Your average new interest rate is much below the old interest rate.

http://debts-to-wealth.com/category/Cred...

Debt consolidation?

Would you rather do battle with 5 100lb gorillas, or 1 500 lb gorilla?

Debt consolidation?

suggest u visit daveramsey.com to learn ur hard lessons from others mistakes.

easist way out of debt is second job.

debt CONsolidation affects ur credit slave score up to 10 yrs.

do ur home work with third party knowledge.

Debt consolidation?

If it only credit cards debts then start to pay the one with biggest interest rate aggressively and after paying it off move to another one and put all money you free up from getting ride of first one and so on. It%26#039;s called %26quot;debt stacking%26quot;. Pay your credit cards off and stay away from them!

If you want to consolidate then find new card with 0% or low APR for usually 6 or 12 month, transfer balance there (if you have enough credit) and pay it off on time!!!

Debt consolidation?

Hello! I Got This For You. As Always, It%26#039;s Always Better That You Get The Info Firsthand. So Better Check It Out Yourself, Im sure You%26#039;ll Discover Something...http://debt-consolidation.featured-resou...

What is the best way to increase FICA score after paying off current and delinquent debts?

We have very low FICA scores. We have payed off all of our deliquent debts and have no current credit card debts (all paid). Now we have the ability to put aside almost $600 to $700 aside every month for savings. We want to work on increasing our FICA score. What is the best way. We want to start putting funds in our saving account but we have heard that the best way to increase our FICA score is get a significant loan, such as a car loan, and start servicing that debt. Your advice would be helpful.

What is the best way to increase FICA score after paying off current and delinquent debts?

The accessibility of credit reports is made possible by the Fair and Accurate Credit Transactions Act (FACT), a bill which was passed on December 4, 2003 by the US Congress. This act, which is sanctioned by the Federal Trade Commission or FTC, allows every consumer to obtain a free credit report once in a period of twelve months. Similarly, the FACT also ensures the privacy and accuracy of the information that the various credit reporting companies hold. Under this act, the FTC, together with the three credit reporting companies namely Experian, TransUnion, and Equifax, have set up a website where people can log on to check out their annual credit scores.

According to the FTC, there are three ways a consumer can obtain his credit report. The first one is by visiting the FTC%26#039;s authorized website, AnnualCreditReport.com, and providing all the information needed to access the credit report. This is generally the fastest way to obtain one%26#039;s credit report. Consumers have to be cautious, however, of the supposedly free credit reports they see offered on unauthorized websites. More often than not, the services offered on these sites are not entirely for free. Those who want to get credit reports should keep in mind that they can only get them for free from the website FTC provided. Read more about it at: http://www.credit-card-gallery.com/artic...

What is the best way to increase FICA score after paying off current and delinquent debts?

Ask your credit card company to boost your spending limit on your credit cards that will definitely boost your credit score significantly.

What is the best way to increase FICA score after paying off current and delinquent debts?

Establishing a good credit history has never been as important as it is today.

It%26#039;s not just that you%26#039;ll need good credit to get decent rates when you%26#039;re ready to buy a home or a car. Your credit history can determine whether you get a good job, a decent apartment or reasonable rates on insurance. One seemingly minor misstep -- a late payment, maxing out your credit cards, applying for too much credit at once -- can haunt you for years.

If you%26#039;re just starting out, you have a once-in-a-lifetime opportunity to build a credit history the right way. Here%26#039;s what to do, and what to avoid.

Check your credit report

You%26#039;ll first want to see what, if anything, lenders are saying about you. That kind of information is contained in your credit report at each of the three major bureaus: Equifax, Experian and Trans Union.

Credit reports are used to create your credit score, the three-digit number lenders typically use to gauge your creditworthiness. Lenders also may look at the report itself, as may the landlords, employers and insurance companies who use credit to evaluate applicants.

Can you have a credit report if you%26#039;ve never had credit? Maybe.

Somebody else%26#039;s information could be mixed in with your report, either through a credit bureau mistake or because of identity theft; i.e. someone using your personal information to open bogus accounts.

If that%26#039;s happened to you, you%26#039;ll need to clean up your credit report before trying to apply for new accounts. The Federal Trade Commission has information that can help.

Establish checking and savings accounts

Here%26#039;s a basic step that%26#039;s sometimes overlooked by people seeking credit. Lenders see these accounts as signs of stability.

Opening checking and savings account is also one of the few things you can do as a minor to start building a financial history. While you can%26#039;t get a credit card in your own name until you%26#039;re 18 and can be legally held to a contract, many banks have no problem letting you open an account.

Many, but not all. If your bank balks, you need to either look around for another bank or consider opening a joint account with an adult.

Understand the basics of credit scoring

You need to know that the two most important factors in your score are:

Whether you pay your bills on time.

How much of your available credit you actually use.

It%26#039;s essential that you pay all your bills on time, all the time. Set up automatic payments or reminder systems so that you%26#039;re never, ever late. All it takes is a single missed payment to trash your credit score -- and it can take seven years for the effects to completely disappear.

You also don%26#039;t want to max out any of your credit cards, or even get close. Keeping your credit use to less than 30% of your credit limits will help you get the best possible credit score -- and should help keep you from getting over your head in debt, as well.

Finally, you don%26#039;t need to carry a balance on a credit card to have a good credit score. Paying your bill off in full is the best way to keep your finances in shape and build your credit at the same time.

Piggyback on someone else%26#039;s good credit

The fastest way to establish a credit history can be to %26quot;borrow%26quot; another%26#039;s record, either by being added to a credit card as an %26quot;authorized%26quot; or joint user or by getting someone to co-sign a loan for you.

Having a co-signer can allow you to qualify for loans you might not otherwise get. The loan will show up on your credit report and, if you pay it off responsibly, will help boost your credit score.

If you default, however, you won%26#039;t be the only one who suffers. The co-signer has basically promised to make good on this account, so any delinquencies will show up on her credit report as well.

Being added as an %26quot;authorized user%26quot; has its risks, for you as well as the person giving you access to the card.

If your father makes you an authorized user of his credit card, for example, his history with that account can be imported to your credit bureau file, giving you an instant credit record. If he has handled the account well, that reflects well on you. But if he hasn%26#039;t, his mistakes would also become yours. Any late payments or other problems could make it harder for you to get future credit than if you%26#039;d established your history without help.

Even if you trust the person adding you to the card, you may not be able to piggyback on his or her credit. Some credit issuers won%26#039;t report authorized users to the credit bureaus, particularly if the user is not married to the original card holder. If the point is to give you a credit history, the person who%26#039;s adding you as an authorized user should call the issuer and ask how (or if) your status as a user will be reported.

Apply for credit while you%26#039;re a college student

Credit experts used to warn college students away from those booths set up on campus by credit card lenders -- the ones that promise free stuff for signing up. It turns out, however, that there%26#039;s no easier time to get a card than while you%26#039;re a college student, said Gerri Detweiler, author of %26quot;The Ultimate Credit Handbook.%26quot;

Lenders are willing to take risks with you that they won%26#039;t once you graduate, probably because they know that your parents%26#039; willingness to bail you out will end once you get your sheepskin.

You still have to exercise some caution, though. Look for a card with a low or nonexistent annual fee and low interest rates. For now, just get one: Opening a slew of credit accounts in a short period of time can make you look like a risky customer.

Apply for a secured credit card

If you can%26#039;t get a regular credit card, apply for the secured version. These require you to deposit money with a lender; your credit limit is usually equal to the deposit.

You%26#039;ll want to screen your card issuer carefully. To be frank, there are a lot of bad guys in this particular niche of the credit world. Some charge outrageous application or annual fees and punitively high interest rates.

Your credit union, if you have one, is a good place to start looking for a secured card. You can also check Bankrate.com%26#039;s list of secured credit card issuers.

Ideally, the card you pick would:

Have no application fee and a low annual fee

Convert to a regular, unsecured credit card after 12 to 18 months of on-time payments

Be reported to all three credit bureaus.

If the issuer doesn%26#039;t report to the credit bureaus, the card won%26#039;t help build your credit history.

Get a finance company card

Gas companies and department stores that issue charge cards typically use finance companies, rather than major banks, to handle the transactions. These cards don%26#039;t do as much for your credit score as a bank card (Visa, MasterCard, Discover, etc.), but they%26#039;re usually easier to get.

Again, don%26#039;t go overboard. One or two of these cards is enough. If you get many more, you may find that later in your life these accounts could prevent you from getting the highest possible credit score. That%26#039;s not a reason to avoid them completely, because right now they%26#039;ll do you some good. Just don%26#039;t apply for half a dozen.

Get an installment loan

To get the best credit score, you need a mix of different credit types including revolving accounts (credit cards, lines of credit) and installment accounts (auto loans, personal loans, mortgages).

Once you%26#039;ve had and used plastic responsibly for a year or so, consider applying for a small installment loan from your credit union or bank. Keeping the duration short -- no more than a year or two -- will help you build credit while limiting the amount of interest you pay.

Use revolving accounts lightly but regularly

For a credit score to be generated, you have to have had credit for at least six months, with at least one of your accounts updated in the past six months.

Use revolving accounts lightly but regularly

For a credit score to be generated, you have to have had credit for at least six months, with at least one of your accounts updated in the past six months.

Using your cards regularly should ensure that your report is updated regularly. It also will keep the lender interested in you as a customer. If you get a credit card and never use it, the issuer could cancel the account.

Don%26#039;t charge more than 30% of the card%26#039;s limit.

Don%26#039;t charge more than you can pay off in a month. As mentioned earlier, you don%26#039;t have to pay interest on a credit card to get a good credit score, and it%26#039;s a smart financial habit to pay off your credit cards in full each month.

Make sure you pay the bill, and all your other bills, on time.

Another thing that you can do as well is to report monthly payments such as rent, utilities, cable, day care, etc that doesn%26#039;t show on your traditional reports to PRBC. PRBC%26#039;s a reporting agency that reports recurring monthly payments past or present and compiles them in a scored report that can be used in addition to your traditional credit reports. It gives a clearer picture of what and how you pay every month. Historical payments from 3 years prior can be verified and reported as well as current and future payments can be reported by using their bill pay service through checkfree web.

What is the best way to increase FICA score after paying off current and delinquent debts?

I would recommend that you attempt to reestablish yourself with new credit. Open 2 secured credit cards and make sure that you make your monthly payments on time. The biggest factor in credit scoring is recent payment history. If you have collections or other delinquent accounts within 24 months those are still affecting your score. The best remedy is time and reestablishment. Start off small and stay on track and your credit problems will be history.

What is the best way to increase FICA score after paying off current and delinquent debts?

Just keep at it and don%26#039;t make any more late payments going forward. And by the way, it%26#039;s %26quot;FICO%26quot; not %26quot;FICA.%26quot; Stands for Fair, Isaac %26amp; Company.

What is the best way to increase FICA score after paying off current and delinquent debts?

One way to build a and increase your credit score is to get a credit card. This will help offset your past credit problems over time. A site at http://www.bad-credit-credit-card-for-pe... has a free list for consumers of credit card companies that issue credit to people with bad to no credit history.

Mortgage Question.?

I have excellent credit, been employed 2 years plus same job, make $100k, and am getting married shortly (I expect to be making $110k by March). I would like to be able to buy a house in the $500,000 range. I have little downpayment funds. I could swing $20,000 selling an investment. I also have $10,000 in debt (credit card). Should I pay down the credit card debt or accumulate more cash for a downpayment? Also, would my salary support a mortgage of about $480,000? (If unaffordable, how much does my wife need to make also for us to be able to swing this?) The house will most likely be in Suffolk County Long Island where the taxes are high. I see taxes of $6k min to $10k prior to STAR, a gov%26#039;t giveback program that reduces the rate.

Mortgage Question.?

You asked for my opinion, so here it is. Let me first say that I can be a litle blunt, and that my wife and I are tight with a buck.

Short answer is you cannot afford it.

Do yourself a favor and pay off the $10M in credit cards as soon as possible. I assume these credit cards are charging you roughly 15% interest. I do not know what return you are earning on the investment, but I guess it is less than 15%. It does not make sense to borrow at 15% and then invest it at a lower rate.

This leaves you with a downpayment of $10M, or 2% of $500M. Someone will probably make you a loan with 2% down, but you will have to pay PMI (insurance to protect the lender if you default) and you will probably pay higher interest and fees. Today 10% downpayment is pretty common, if you can put down 20% you can avoid PMI (yes I realize that is $100M in cash).

Conservative bankers recommend spending 28% of your income on housing, less conservative lenders say 33%. I did some quick number crunching: Assuming a mortgage of $490M at 7% fixed for thirty years, your monthly payment is $3,260. Assume another $667 per month in taxes (middle range of your estimate is $8M per year). At $100M per year, monthly income is $8,333. Your ratio comes to 47%. This does not include PMI (never had it, do not know what it costs) and property insurance. Again, do not know what insurance on a $500M house on Long Island costs.

To bring your debt/income ratio down to 33% you need annual income $142,800. Again, this does not include PMI or property insurance. You still have not addressed the 2% down payment condition.

With annual income of $110M, as you expect shortly, your housing ratio declines to 43%.

Assuming $110M in annual income and 33% housing ratio, you are looking at purchase price of $360M. Down payment is still under 3%. Still have to pay PMI and property insurance. No, I do not know where to buy a decent house on Long Island for $360M.

Sorry if this is bad news.

Mortgage Question.?

If you have to ask all those questions on here you should not be spending that much money on a house. Get rid of the credit card debt. It will reflect on your credit report causing you to pay a higher interest rate.

Mortgage Question.?

Call a mortgage person at Astoria Federal.

Mortgage Question.?

You should talk to a banker. You are close to the limit. It is never good to have credit card debt--many times the interest on credit cards is extremely high.

Mortgage Question.?

i wish i had your problem.....

first off that much money you you make should not need anything down don%26#039;t sell the investment for this whatever it is (that was my mistake) if you and your wife to be are co holders on the mortgage then if something happens between you two the assets are divided up and split (usually in the ladies favor) which in turn damages yoru credit rating (and hers). If you are the breadwinner pay for the house yourself and get a prenup.

second DO NOT GET AN ARM or any variences of one including an interest only rip off if you pay only a part of the interest the interest STILL generates interest and the principal gets interest on it as well.. 30 year fixed and go for it. and paying down your debt ALWAYS helps.

PMI%26#039;s are also a huge scam as well as are escrow accounts. Advoid these two at all costs if possible.

Good luck

Mortgage Question.?

You%26#039;re looking at about $2,900/month, before taxes and PMI (assuming 6% int, 30 years). You definitely want to clean up that debt first and another thing, houses are coming down so there%26#039;s no sense in rushing into a house right now. Put it off a few months (while paying the debt) and you%26#039;ll be in better shape. Also do a lot of homework on the location of prisons, sewer plants and other value-lowering cites before you buy.

Avoid the %26quot;Option ARM%26quot; at all costs. If you are offered and option ARM, leave the speaker immediately. Such bad mortgages allow you to underpay on your payments, sending your PRINCIPAL upwards. That%26#039;s right, you%26#039;ll owe more money.

Mortgage Question.?

Bill,

If you were in the state of California I could help you out a little more, but I know nothing about Long Island and the types of loans that they have. I do know that if your looking to by soon, it is important to get your credit cards down to 20 percent of their balance and make sure you have no lates on any payments. Sounds like you are on the right course. Good Luck to you and your future wife.

Mortgage Question.?

Countrywide Home Loans offers mortgages with NO money down or with as little as 5%. You may need to prove your assets of maybe 3% of your principal and interest payment but would not need to be used. Most companies do offer no money down programs. Any mortgage website will also give you a %26quot;what you can afford%26quot; calculator.

Mortgage Question.?

Well, first think of this, If you have had the same job for 2 years and assuming you%26#039;ve made the same amount of pay in those 2 years---you still have $10,000 in debt that you haven%26#039;t been able to pay on your salary, and no money saved. What makes you think that anything will change now that you will be married ? You will just accumulate more debt and charges.

Either buy a cheaper house and pay off your debt and start saving, or keep renting for awhile while you both save.

Don%26#039;t rush into debt so quickly!

Mortgage Question.?

#1 buy a cheaper house.

#2 to all you who bash the option arm... Why? its not in my eyes for the person whos just buying a house to live in.. its more aimed at investments to me. Also, you end up w/a higher balance because you have ridiciously low payments... its a OPTION to make those payments. Kinda like taking out a small %26quot;loan%26quot; on your property each month. Remember everything you dont pay the bank (below interest only) does go on the top of your loan but it also does NOT come out of your pocket! There is a time and a place for them! There are also hybrid versions now that have a fixed rate and dont adjust for 5 years!.. Obviously I%26#039;m in the industry and there are MANY ways to look at things, I personally think 30yr fixed isn%26#039;t the best loan out there. I personally like the idea of the 1st position heloc (whole other conversation) if you have money skills... Unfortunatly I dont think you have enough yet.

Good luck,

God Bless!

PS. Think about spending less, I guarantee you will come out way ahead if you buy a cheap house and invest the rest.

Mortgage Question.?

If you make $100k a year and you have $10,000 in credit card debt, this tells me that you don%26#039;t manage your money well.

Is it better credit wise to switch to zero interest cards and transfer debt or pay down ones you alr

Moving balances from one card to another can be damaging in several ways. You get charged every time you transfer a balance, and having too much available credit (from opening several new accounts to transfer to) in proportion to your income can also limit your ability to get a loan, such as a mortgage, down the road. It is also true that closing these credit cards every time you move a balance can damage your credit score. No real win-win situation with these cards unless you can transfer your balance once, and pay it off within the promotional period for the 0% rate.

The best scenario in my opinion is to compare different credit card options and offers out there. There are many different cards that, if you qualify, you can get a low promotional rate (around 4-5%) for the life of the balance transfer (you don%26#039;t have a high interest rate waiting for you at the end of 12 months). This way, you save a bundle on interest, and don%26#039;t have to continue moving your debt around to different cards. Lowering your rate this far will help considerably as a much larger portion of your payment will be applied to principal every month, but pay more than the minumum payment if possible. If you don%26#039;t qualify for an offer like this, using a 0% card can help, but avoid transferring from card to card multiple times.

Is it better credit wise to switch to zero interest cards and transfer debt or pay down ones you already have?

It is always better to switch to no interest cards to pay off your debt. Just make sure there is not a huge fee to do that, also find out how long the zero percent lasts and what the interest rate is after that.

It is also vitally important that you make all payments on time, or you default the no interest rate and it could be as high as 20%.

Is it better credit wise to switch to zero interest cards and transfer debt or pay down ones you already have?

First you should never close a credit card account, doing so hurts your credit score. You should pay down credit cards rather than constantly switching between cards. That being said, you want the best deal possible, so if you can transfer the balance between a high interest card to a low interest card, do it, but leave it there until you pay it off.

My mom passed away. Who is responsible for her debt?

She left about 15,000 in debt from two credit cards. Both of the credit cards are in Mom%26#039;s name and Dad did not know anything about them. Is he responsible for the debt? Thanks for your responce.

My mom passed away. Who is responsible for her debt?

no i believe its gonna be under her childrens name and umm actually since your dad is still around maybe under his name

My mom passed away. Who is responsible for her debt?

This is an interesting question. If the credit cards are in your mom%26#039;s name only, there should be insurance on the cards that will cover the debt but only if she took out that specific insurance.

I would consult a lawyer to be sure. If not then as sad as this is to say, you dad may be responsible.

My mom passed away. Who is responsible for her debt?

if he didnt no nothin about the debt, why shud he have to pay it back.

if someone passes away why shud the other person pay it off

My mom passed away. Who is responsible for her debt?

my wife died 3 years ago and i had to take on her debt after trying to inform ppl she had died they simply told me it was now my responsability sucks man

sorry to hear about your loss stay strong

My mom passed away. Who is responsible for her debt?

Usually her estate. Any super or insurance payout pays for her debts.

My mom passed away. Who is responsible for her debt?

Usually her estate. But remember that technically she had ownership of half any property or chattels that your parents owned. This would constititute her estate. So, before it can pass to your father or anyone else named in her will, claims on the estate have to be handled first. Therefore, technically, the money comes from her estate, although many would feel that it belonged now to your father

My mom passed away. Who is responsible for her debt?

Hi Honey, sorry about your Mum. First and foremost you cannot inherit someone%26#039;s debt, so unless your Dad%26#039;s name is on the account or he acted as Guarantor he is not liable, however the debt can be claimed against her estate. Hope this helps x

My mom passed away. Who is responsible for her debt?

It will depend on whether they live in a community property state and whether your father is a party to the accounts.

My mom passed away. Who is responsible for her debt?

NO.. unless your mom and dad lived in a community property state and the debts were taken out while they were both married.. There are only 9 states where he would be responsible but I don%26#039;t know state you are living in so you can google those 9 states and find out. If he is not in one of those states and debts were not taken out while they were married then simply have him send the credit card companies a copy of her death certificate and tell them no assets and sorry. If your moms name is on a house title then I would first have him do a quick claim and get her name off of house B4 you let credit card companies know.. Also I am sorry about the loss of your beloved mom

I have been trying small ventures to make extra money.I got 4 credit cards that were used to help do

inexperienced and trusting people too easily has put me in debt. I have one credit card with a $19000.00 worth on it; two cards with 1000.00 on it and another with 4100.00 on it.I have a 6600.00 loan from my 401k that i am also trying to repay.The 19k credit card is 466 monthly with a BIG interest rate ;my 401k loan is 350 monthly;and the others are totaling 400.00 together.Another loan is 14500.00 with a 250.00 monthly with interest so high it doesnt feel as if its being paid.I feel as if I am drowning. My daughters student loans that i helped to get are falling due and I am hardly living pay check to pay check. I can barely pay my other bills which includes a 500.00 mortgage.i tried to get a loan to pay off my 401K loan to reborrow from it so that I can try to consolidate some things but as you can see I have too much unsecured debt.I am not one to go shopping all the time I just tried ventures that didnt work.....some one please help ! I just dont know what to do!!!

I have been trying small ventures to make extra money.I got 4 credit cards that were used to help do this.?

you can make extra money part-time with my company

www.neftac774.com

my info is all there

I have been trying small ventures to make extra money.I got 4 credit cards that were used to help do this.?

Too late. You used credit cards to fund a business venture. Very bad idea. Learn from this and don%26#039;t do it again.

I have been trying small ventures to make extra money.I got 4 credit cards that were used to help do this.?

Step 1: STOP spend money you don%26#039;t have. Until you do that, NOTHING will help.

Step 2: PRIORITIZE your expenses. I don%26#039;t recommend defaulting on anything, but if I had no choice, the credit cards are the LAST thing I would pay.

As for your daughters student loan, SHE should be paying that.

I have been trying small ventures to make extra money.I got 4 credit cards that were used to help do this.?

Hi,

I used %26quot;Credit Solution%26quot; to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It%26#039;s legitimate.I came across this company on NBC News Special Edition.Check it out here:

http://urlcut.com/1kvhf

How to split the bills question got me thinking...need your input?

My fiance and I have separate accounts and we want to get a joint account for one main reasons: Every month he writes me a check, I drive to the bank, deposit the money, wait for it to clear (one day or so), and then pay all of the bills.

The problem is debt and savings. The man has zero debt. ZERO. No credit card bills, no car loans (he paid off a $20K used car in one year), no loans period. I on the other hand have student loans, credit card debt (will pay it off by September, yay!), and a car loan. Even with all of that, I am the better saver. I have a pretty hefty savings account whereas he just started learning how to save properly.

In terms of saving, I think the joint account will be very beneficial because with our money combined I will be in charge of making sure we put enough away for savings. However, I don閳ユ獩 know how I would feel having a joint account where part of the money goes towards my credit card debt. The student loans and car loans I don閳ユ獩 mind but I am already feeling awful of the idea of 閳ユ甫sing閳?閳ユ笝ur閳?money to pay down my credit cards.

If you were in a similar situation, how did you get over it? What methods or plan did you use? Would it be smarter to just wait until I閳ユ獡 clear of credit card debt before joining accounts? What kind of conversation did you have with your spouse about debt?

And if you woke up on the wrong side of the bed, please drink your cup of coffee before answering =)

How to split the bills question got me thinking...need your input?

I am impressed that you are dealing with these issues.

It sounds as though you are probably more knowledgeable about finance than I am and most of those who are answering. I assume that you are asking largely for information on how this has worked in practice for people and what would be appropriate relationship-wise. The best resource for really talking this over will, of course, be your fiance.

If I were in his shoes I would want to use joint money to pay off the credit card debt. Since our money was now interconnected it would make sense for %26quot;us%26quot; to get that out of the way. Not every body feels that way.

My wife and I have had a joint account for a long time and it usually works out well. I have been thinking seriously about getting two accounts, however. This is not to seperate %26quot;my%26quot; money and %26quot;her%26quot; money but rather because we pay for different things and if we are both paying a lot in a few days it is easy to lose track of how much is actually in the account before we communicate. I am thinking it might be wise for us to have two accounts which we individually track.

As far as the drive to the bank goes ... it would be possible to have the money automatically transferred at the same time each month ... or use Quicken and transfer the money when you want that way. I also like Quicken because I can tell it to pay my bills at a certain time each month and then don%26#039;t have to worry about waiting until the money has been deposited to deal with it. I do it when it is convenient for me and then it is automatically paid when I tell it to.

How to split the bills question got me thinking...need your input?

I would wait until you get married to have a joint account, what if something changes, I don%26#039;t think your debts are a big deal if you are properly paying them, it helps build your credit.

How to split the bills question got me thinking...need your input?

We were getting married so we became %26quot;one%26quot; with our finances. SHE had more debt than I did and I didn%26#039;t mind that income from my job paid her debt! We are now out of debt except for the house! My wife stays home with the children and I work for a pay check BUT she takes care of all the finances at home! ! ! Works for us! You need to do what works for you!

My guess is he doesn%26#039;t care to help you out, he loves you RIGHT!

How to split the bills question got me thinking...need your input?

you are special and your fiance should feel lucky to be engaged to marry you....how refreshing to see a couple have an issue like this instead of the normal his money her money and neither the twain shall meet issue.......

If I were you, I%26#039;d keep separate accounts until after you are married, once married, use %26#039;our%26#039; money to pay down %26#039;our%26#039; debt.......he sounds like a keeper! Congrats and good luck!

Make sure you are on the same page as he is before you get married when it comes to using the credit cards in the future

How to split the bills question got me thinking...need your input?

When my husband and I married, our personal debts, including credit cards debts, became %26quot;our%26quot; debts, just as our personal incomes became %26quot;our%26quot; income, just as we became one. We both have access to all of our checking and savings accounts, even though we usually only get into the ones we brought into the marriage. It%26#039;s easier to manage that way as I don%26#039;t have to worry about overdrating %26quot;his%26quot; account and he does not have to worry about overdrafting %26quot;my%26quot; account.

How to split the bills question got me thinking...need your input?

my boyfriend just got out of debt...we plan on getting married within the next few years..one of our goals is for both of us to be out of debt... so to pay off my credit card debt (my dog had surgery) my boyfriend matches whatever I pay on my Capital One each month that way I am using my own money but he is also helping without me feeling like im using him or something... it%26#039;s worked out great so far... we both are huge on saving so he sees helping me out as a way of investing in the future... he%26#039;s a keeper :)

good luck!

How to split the bills question got me thinking...need your input?

We both like having our own accounts. It%26#039;s not because we don%26#039;t trust one another with the money. It has nothing to do with that. We just like taking care of our own responsibilities. I know we%26#039;re %26quot;one,%26quot; but that doesn%26#039;t mean that everything needs to be that way. I have a lot of debt like you, and she has no debt. I just would rather deal with my issues with my money in my account. It just makes more sense to us to have control of our own money. It%26#039;s just something that we%26#039;re used to, and it doesn%26#039;t hurt leaving it the same way. Is it wrong to have joint account? Of course not, but we just choose not to, at least for right now. There%26#039;s nothing wrong with your choosing to leave it separate for now. I know how you feel with all the debt crap.

Heath

How to split the bills question got me thinking...need your input?

unless you%26#039;re married i think a joint account would be a bad idea. for now try to keep your seperate debts seperate. after you%26#039;re married debts you take on together should be payed by joint account

How to split the bills question got me thinking...need your input?

i can tell you what my hubby and i do. he had no debt, i had a bit. we have MY account and OUR account. my hubby is not the greatest with money so i leave OUR account alone so if he spends it doesn%26#039;t affect the bills. i pay all of the bills out of MY account. my check goes into MY account, his goes into OUR account. i do transfer money from him if needed or if i have extra i transfer it into OUR accounts savings.

it%26#039;s all kind of become our debt now. since i pay all of the bills out of one account, i don%26#039;t look at is as his or mine anymore.

i know it%26#039;s kind of weird to have a MY and OUR account. it%26#039;s just that i%26#039;ve banked at the same place since i was 10. i am meaning to put his name on MY account (since it is still my original, it has my mom on it) but since they%26#039;ve developed online banking and direct deposit, i never go to the actual bank anymore to get the paperwork to add him.

best wishes

How to split the bills question got me thinking...need your input?

I am on my 2nd cup of coffee...

Anyway, my fiance %26amp; I have separate accounts also. He pays some bills, and I pay some bills. Have you asked your fiance how he feels about using %26quot;your%26quot; $$ to pay down you cc debt? He is marrying you %26amp; all your %26quot;baggage%26quot; per say. I did know one couple who the guy wouldn%26#039;t marry the girl until she paid off her student loans, he was a real dick about it too. I think you should talk to him first %26amp; see how he feels, and then make your decision. Also, it will be easier to wait til after you are married to have joint accounts. Another tip....always keep a separate savings for yourself, just in case. You can have a joint savings, and separate checking accts, but my sister (who has been happily married for 20 years) has always told me to keep my own savings acct.

How to split the bills question got me thinking...need your input?

first off.. YOU are NOT in a better situation because you have a savings account... that philosophy is WRONG%26gt;. your going to pay thousands of dollars more in your interest fees alone by keeping that money in the bank and not making more on your own loan payments... this is silly reasoning.your interest rate on your saving account is 3-5% annual.. your interest rate for that student loan is astronomical and student loans can never be covered under bankruptcy law.. so it will follow you everywhere til it is paid off including your tax returns being seized for it. you need to take financial 101

How to split the bills question got me thinking...need your input?

I did have a similar situation...The only debt I have is my car loan.My husband has a HUGE student loan debt, credit card and car..

I personally felt like%26quot; in for a penny in for a pound%26quot;, but he..like you, felt bad about that. So we have a joint account for household stuff...mortgage..utilities...ect... and then we have our own separate accounts

It%26#039;s worked for us so far

EDIT: We both have a set amount that we have direct deposited every pay period

How to split the bills question got me thinking...need your input?

I was in a similar sticky situation when I met my husband. I had been on my own in my own home for a while, but I had accumulated a little bit of student loan debt and I owed on my credit card. Before we agreed to sell our homes and purchase one together, combine our money, etc., I cleared up my own credit card debt and a portion of my student loans. When our money did go in together, I didn%26#039;t feel guilty about a portion of it going toward my student loans, because I was contributing money to the account----in essence I was still paying down my student loans. Have a good money talk with him and tell him how you%26#039;re feeling. It%26#039;s ok to be nervous about it, because money is a tough subject. Better to find out now where you both stand on the money issues so you can work together to come up with a plan that is comfortable for the both of you. Disclose how much you owe and your ideas of how to pay it down. Two heads are better than one, and if he%26#039;s going to be your life partner, I%26#039;m sure he will be willing to help you. He%26#039;s got great credit and is financially stable, so he may have a lot of good input for you as to how to go about doing so. Don%26#039;t be afraid to have the talk....honesty is part of what a good marriage is built on. This man loves you and he is your friend, so you shouldn%26#039;t worry about being judged. It will work out. Good luck, hope this helped!

I would take money out of that savings account of yours and put it towards you student loans/credit card debt. Get it paid down quicker. Money is a savings account means nothing if you%26#039;re in debt.

How to split the bills question got me thinking...need your input?

Ok it sounds like alot but it can work you keep your account and he keeps his you also open a joint checking and savings account (if they are all at the same bank it helps) on pay day you each deposit enough in the joint to cover household bills, each put 10% into savings and the rest in your personal accounts that way the household bills are payed out of one account and your debt can be paid by your account and he can have his own money and when you can afford to save more you do. This keeps things separate but equal once you get married you can change it or not. If this sounds like to much bank work then you can just divide the bills up and he can pay some bills and you pay the others

How to split the bills question got me thinking...need your input?

Since you are a responsible person that feels your bills ARE your bills to deal with, I would say to keep a separate account aside for yourself just to pay off your debt.

And if you have a substantial amount saved up in an existing account, then maybe only put into a joint account what your fiance is willing to put into it.

How to split the bills question got me thinking...need your input?

Well, speaking from personal experience, I would wait until after the wedding to consolidate your money. Once you are married, your debt becomes his debt and vice versa. It doesn%26#039;t matter that the debt was made before you were married. Once you are married, it should be %26quot;our%26quot; debt and %26quot;our money%26quot;. If you are better at handling the financial end, then you handle it. Whatever causes you both the least amount of stress is the way to go. I have been a stay at home mom for the last few years, and my husband earns our money, but I pay the bills and handle the money because I do a better job of it. Talk to your fiance%26#039; about it. Money can be a deal breaker for some marriages, so it is best toknow where you both stand before your at the altar.

How to split the bills question got me thinking...need your input?

Why not just open a separate joint account? That way each of you can deposit bill money in it when neccessary. No need to touch your separate savings or checking.

How to split the bills question got me thinking...need your input?

Well, you could combine all of the bills, including your debt, when you get married. Better yet, why not make a joint account for bills only, each putting in a set amount that adds up to 1/2 the monthly expenses (or however you are dividing it up according to your incomes). Don%26#039;t forget to budget in monthly deposits for annual or bi-annual expenses like insurance premiums. Agree on an amount to set aside as savings (don%26#039;t forget to discuss what the savings can and cannot be used for) and put that in a joint savings account. Then you can each retain your personal accounts for the rest of your money. You can add your debt to the monthly bills or pay it out of your personal account, whichever the two of you agree on.

How to split the bills question got me thinking...need your input?

This is kind of exactly why I asked my bill splitting question.

We pay seperately right now, he has a bit of debt, I%26#039;ve got none. And I was more able to pay more of the joint bills. He didnt want my money going towards his debt.

Now he%26#039;s making more in a month, than we used to make together so we%26#039;re trying to figure out the best system.

I%26#039;m interested in seeing what answers you recieve, too!

How to split the bills question got me thinking...need your input?

My husband and I have been married 4 years. The first year and a half we each had our own checking accounts and pretty much paid half and half like roomies almost. Then decided to just get a joint checking.. we did that for a year. Although it was convenient, I didnt like it, for I- simliar to you- am the better saver of us both. He at times would overdraft the account and I would have to put money in to cover the check I had already sent out for our monthly bills..

So now, we have a joint checking, I have my own checking and my own savings. He has his own savings as well. We pay half and half pretty much again.. ( I make more money than he does, so I pay a little more)

And I too, have credit card debt and charge cards and hospital bills I%26#039;m paying off, whereas he has no credit cards.

We see it as OUR debt and work towards paying it off together.. that way the higher our beacon score and the more money we save, the better house we%26#039;ll qualify for in a couple years..

Always have your own though. You never know what could happen.

How can bad credit be good?

My best friend 2 years ago filed for bankruptcy. She was forced to close all her accts. She had delinquincies in her report. She got a credit card for bad people with a low revolving line. In 2 years she has 4 credit cards and a good credit score. I have an unsecured credit card with a $300 limit (not even close to being maxed out) and another card on a debt management program. For 3 years I have paid more than the minimum on each card (the $300 card and paid MORE than what debt mgmt. co negotiated) I have always paid before the due date. I have a school loan that I pay on time all the time and never missed a payment. Her credit score is EXPONENTIALLY higher than mine while mine has staid in the high 500%26#039;s for a long time. AND when I just applied for a store credit card I got denied. I asked if my $300 limit card could be raised to $500 - and was denied. My 3 credit reports from last week don%26#039;t show anything out of the ordinary. I cant figure out why I was denied credit.

How can bad credit be good?

if you find yourself stuck between a %26quot;rock and a hard place%26quot; in regards to your credit, there are many things you can do to build a solid credit record. Many of these things are similar to what you could do if you had bad credit.

If you have lived in the same home for at least a year and held a job for the same period of time, you may qualify for small lines of credit with department stores and other businesses within your local community. Make sure these businesses report your account information with the three national credit bureaus or you will be wasting your time using their cards to build your credit.

The interest rates on many store cards may be higher than a typical credit card, so make sure to keep only a small balance on any of these cards you may have. It%26#039;s often a good idea to avoid paying off your entire balance so you can build a repayment history for your fledgling credit report. As long as you don%26#039;t max out your cards and make your required minimum monthly payments you%26#039;ll be fine.

Another way to build credit is to take out a small loan from a local credit union or bank where you are a member. If you can avoid it, don%26#039;t use the proceeds of the loan except to repay the debt. You will pay a small fee in interest but that%26#039;s often a small price to pay for building your credit.

Once you%26#039;ve established a credit record and creditors can see you have no problems paying off your debt you may start receiving offers from major credit card companies. You could start getting all sorts of mail from Discover, Visa, MasterCard and even American Express.

Be careful about applying for too many lines of credit. Most lenders will check your credit history when you apply for credit and each inquiry is noted on your credit report for at least six months. Too many inquiries are a red flag to creditors that you may be financially unstable. Your best bet would be to apply for no more than one line of credit every six months. Read more about it at: http://www.credit-card-gallery.com/artic...

How can bad credit be good?

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,

if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is a straight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-cons...

if it helps kindly remember me in your voting!.. cheers!

I filled bankruptcy in 2000, how can I raise my credit score?

I have no debt and no credit cards and no loans yet I have a very low credit score. (635)

I filled bankruptcy in 2000, how can I raise my credit score?

635 is not that horrible. You%26#039;re actually just a little below average. Considering that you still have a bankruptcy on your report, you%26#039;ve managed to do a bunch of stuff right over the last 7 years to improve it. But, you can still work on increasing your score. Paying bills on time is 35% of your score so make sure you pay everything on time.

Debt ratio is the other big one. Pay debt down. If you have a credit card with a $1000 limit and you have $900 charged on it, you have a 90% debt ratio. You need to get your debt under 30%. Paid off to zero is even better.

300-549: Extremely difficult to find any lender that will offer you credit.

550-619: You may be able to find credit, but very high interest rates and fees will likely apply.

620-679: You should be able to obtain credit, but you will probably be offered a higher interest rate.

680-749: You should have no problem getting credit and you will receive good interest rates and repayment terms.

750-850: Lenders are happy to offer you credit and provide you with their best rates and terms.

I filled bankruptcy in 2000, how can I raise my credit score?

I have listed a site at http://www.bad-credit-credit-card-for-pe... that has a list of credit card companies that issue credit cards to people with bad credit. It also list the pros and cons of each card. By applying and getting 2 cards and making your payments on time it will help to rebuild your credit history after bankruptcy.

By the way a 635 credit score can will qualify you for a conforming mortgage loan, so don%26#039;t be to hard on yourself.

I filled bankruptcy in 2000, how can I raise my credit score?

Your score is bad at all, it%26#039;s been 7 years you should be okay

I filled bankruptcy in 2000, how can I raise my credit score?

How to Improve Your Credit Rating After Bankruptcy:

Bad credit and bankruptcy are the two most dreaded words in the financial world. These two things can greatly impact your financial situation. But what you are not aware of is the fact that you can improve your credit rating after bankruptcy.

Credit score help?

how bad will settling a debt affect my credit score as oppose to paying off the debt with interest. Note: the credit card has been closed due to late payments.

Credit score help?

They close, but not charge off, so call them and negotiate the balance, if you pay them in full, they could take off the interest and some charges, because it%26#039;s better get something, than nothing. It will be better, then not to pay at all.

Credit score help?

if it was closed and you had late payments, your credit score was already affected. I can%26#039;t see where paying off the debt will hurt. It may actually help some.

Credit score help?

Disclosure: I am not a lawyer and unqualified to give legal advice.

With that said...

Your credit report has already been updated negatively to show the past due balances. You can settle with them (target about 50% if you can). That will still show up on your credt report as %26quot;Settled balance%26quot; or some verbage like that. It%26#039;s not near as negative as a BK. I%26#039;ve blogged an article at http://www.squidoo.com/creditcardsettlem... if you%26#039;re interested in reading further. You could try to arrange a full payoff but you MUST get their assurance IN WRITING that the account in the credit report (from all three credit reporting agencies) is either deleted or updated to state something like %26quot;Paid on time never late%26quot;. If you choose to pay off the entire balance without the written assurances the negative information will still remain on your credit report for 7 years.

Good luck!

Credit score help?

Not very much at all though you could repair any negativity through credit repair easily. Usually companies charge hundreds of dollars to simply pull your credit and send correctly worded dispute letters閳ユ敄his is the key閳?.people will tell you that you can do this yourself for free but the truth of the matter is that the credit bureaus will throw your letters away or simply reject them. There is an easy to use online kit that will deliver the results you want available for just $19.95 at the source website. A similar kit is being sold via infomercials and radio talk shows for seventy dollars more but they try to solicit you repeatedly for other services after the fact.

Blue by American Express Balance Transfers etc.?

So after finding out my AMEX has a good interest rate I have been considering transfering my fiancee%26#039;s credit card debt to my own card b/c there are no balance fees. He has horrible credit and his debt is killing us finacially and we have to get it under control. My credit is excellent and we%26#039;ve applied for loans but I think my credit card interest is better than the loan offers...

So onto my questions:

Does anyone know any concrete drawbacks to keeping the balance on the credit card vs. the higher interest 5 year loan?

The AMEX website only has spaces for 4 balance transfers, my fiancee has 7 credit cards. ( Can I kill him now please?) Do credit card companies limit how many transfers you can make?

Does anyone have any other advice to get this paid off as quickly as possible? We aren%26#039;t rolling in money obviously I am a teacher and he is a manager at a Circuit City. He has about $14,000 in credit card debt and another $12,000 in student loans coming due in September.

Blue by American Express Balance Transfers etc.?

Blue Cash from American Express庐

This credit card issued by the credit card giant American Express has No annual fee. Coming to balance transfers, the Blue Cash from American Express has a low balance transfer rate. The APR for balance transfer is 4.99% fixed for the life of balance. Another good feature of the Blue Cash from American Express is that it is a 0 Intro APR credit card. It has a 0% intro APR rate for 6 months. The reward program of Blue Cash from American Express gives Up to 5% Cash Back with Unlimited Cash Rewards. This entitles the credit card holder to earn an unlimited cash back on his spendings. Apply online at: http://www.credit-card-gallery.com/Ameri...

Blue by American Express Balance Transfers etc.?

First, do not transfer his debt. If anything happens to your relationship, you are stuck paying off his debt. You fixing this for him will NOT teach him to be more responsible in the future. Also, transferring it will not be as benificial to rebuilding his credit.

First regarding the student loan, normally you can make arrangements (since they are low interest) to extend the payment schedule. If you have them take the funds from his checking every month, you may be able to lower the rate even more.

Next, look at the 7 cards and find out which of the cards have the lowest rate and transfer to those cards. Do not close the other accounts, but cut up the cards. The low balance on the cut up cards increase his credit ratio, and also, the longer he owns the cards the better off he will be.

Schedule payments so that you pay more than the min. Call the cards that a balance remains, and try to negotiate the rates. Explain you have an opportunity to transfer to a card that has a rate of X%. They may be willing to forgo the annual fee and/or lower your rate.

Finally, if you decide to transfer the balances to your Amex, get a promissory note signed by your BF. Have the note outline the payment schedule, the interest and the final due date. If he is late even once, send him a written note that outlines when he needs to get caught up by.

Also, worse case scenerio, have him get a second job until his debt is paid in full.

If you're trying to re-build credit, is it worth keeping credit cards open even if they charge

I%26#039;ve paid off all my debts on my credit cards but I%26#039;ve been told not to close any of them as I%26#039;m trying to re-build my credit. But is it worth keeping them open if they charge an Annual Fee? How much damage to my credit score will occurr if I choose to to close an account rather than pay $59-$79/yr?

If you%26#039;re trying to re-build credit, is it worth keeping credit cards open even if they charge an annual fee?

Ok, first let me tell you what makes up your score:

1. Payment history- 35%

2. Total debt owed vs. available credit- 30%

3. Length of time establishing credit- 15%

4. Types of credit established- 10%

5. Inquiries and New accounts- 10%

Whenever you close accounts, you affect #1,#2, %26amp; #3. The payment history for all your open accounts are shortened, you decrease the amount of available credit making it look like you owe more than you%26#039;re able to borrow, and finally if the account was opened a while you shorten the average age of all your accounts. As for the annual fee. you can work this to your advantage. One option would be to use it as a leverage piece to close the account. Request to be changed to a card without a fee in exchange for you keeping the card. If that option doesn%26#039;t work, then instead of using the card lightly to show activity every month, just make minimum payments on the anuual fee until it%26#039;s paid, then spend no more than $20/ month on the card. That way, you can still show activity on the card without having use the card a whole lot to build credit.

If you%26#039;re trying to re-build credit, is it worth keeping credit cards open even if they charge an annual fee?

You got told wrong..

If you%26#039;re trying to re-build credit, is it worth keeping credit cards open even if they charge an annual fee?

If you want to cancel the cards to avoid the fees, by all means do so. It will have very little impact on your credit score.

A good way to increase your credit score is by going to your bank and getting a small loan. Make sure that you have a minimum of $2000 in your bank account and get a loan for a small amount minimum of $1000 with the funds in your account as collateral. Place the money from the loan in your account and just make the payments on time.

A small loan like this can be paid off quickly and will increase your credit score very fast.

If you%26#039;re trying to re-build credit, is it worth keeping credit cards open even if they charge an annual fee?

You should keep your accounts open as it does help your credit.

As far as the annual fee, you can call customer service and tell them that if they keep charging the annual fee you will close your account.

I work for a credit card company and see them waive it every single day. Also try to make at least one purchase every six months and then pay it off otherwise they will close it for inactivity.

Good luck!!

If you%26#039;re trying to re-build credit, is it worth keeping credit cards open even if they charge an annual fee?

As long as you don%26#039;t close all your accounts in one month, you should be fine. Closing all your accounts makes it look like you aren%26#039;t able to handle credit responsibly, and that reflects badly. You also don%26#039;t want to have too much credit, because it%26#039;s too much of a temptation for people, and creditors will look at it as %26quot;if they charge all of this, will they be able to repay it??%26quot;

If all the cards you have charge an annual fee, and you have a lot of them, closing 1-2 is a good way to start. However if it%26#039;s the ONLY one you have, I would recommend keeping it. Using the card and making timely payments on it will help your credit score long-term.

You might also try to call the credit card company and to talk with them - they might be able to do something as a benefit to having you as a card member in good standing since you cleared your debt - even if you still have to pay the annual fee. It never hurts, and the worst thing they can say is %26quot;no%26quot;, in which case you can look for another card, apply and get it, then close that account. Yay for competition.

Just don%26#039;t get an itch to go overboard on your credit, and make sure you pay all your bills on time, and your credit score should get better. Managing credit is very important.

Now that you listened to this, applying it is a lot harder. lol Good luck on rebuilding your credit.

If you%26#039;re trying to re-build credit, is it worth keeping credit cards open even if they charge an annual fee?

hmm, good morning there, I think you just read thru this resource below to address your concern dearie

have a super day

If you%26#039;re trying to re-build credit, is it worth keeping credit cards open even if they charge an annual fee?

Part of your credit score is determined by the length of time you have been using credit. Therefore it is in your best interest to keep your oldest account open. There is no need to keep several cards that carry an annual fee.

If your oldest card carries an annual fee and there is a card that doesn%26#039;t have one that is a close second then by all means get rid of the card that carries the fee. Fees are not worth it so it%26#039;s best to eventually get rid of all cards that carry a fee. If you%26#039;re not making a major purchase that is dependent on credit (car, home) ditch the cards with the fees unless it means shortening your credit history by 2 or more years.

If you%26#039;re trying to re-build credit, is it worth keeping credit cards open even if they charge an annual fee?

I think so.. this will help your credit

Credit ratings how fast?

I have a plan to fix my credit score.

I got a raise thats VERY SIGNIFICANT. so i have a debt of 5000.00...

4000.00 chase credit card out of 5000.00 limit...

1000.00 capital one and hsbc credit card maxed out...

so what i am asking is, IS IT OKY FOR ME TO PAY THE 4000.00 and transfer the 1000.00 debt to the cards so that will be the 10% debt that i should keep current. and I have OPENED a SECURE CREDIT ( where the bank freezes that amount and i pay my own money back) card through my bank of 800.00 balance. and Have been paying my other 3 bills on time.

How fast do you think my credit score will rise?

Credit ratings how fast?

i deal with credit everyday. your score will rise prctaically overnight if you pay all your cards off. if you paid them off today within 45 days your score will jump as much as 100 points. just keep them at or near zero and you will shine in the credit world, also acquire no collections and dont get too many cards, just payoff what you have.

Credit ratings how fast?

I think you are the smae person who posted you are making about $40k @ 22 years old. If so, you%26#039;re bringing home probably around 2600/month after tax, insurance, 10% into your 401(K), and other misc expenses. That is pretty good money.

First pay off your $1000 debt. You should be able to do this on your next paycheck. Pay the minimum on your chase card until the smaller debt is paid off. Once the small debt is gone, tackle your bigger $4000 debt...you should be debt free within 3-4 months if you get serious about it (debt free is GREAT).

Now, your credit score will go up...but really the only thing you should need that for is your mortgage that you%26#039;ll get in a few years when you have saved a ton of money for a down payment. Just becuase you got a big raise and a better credit score doesn%26#039;t mean you should run up your debt ratio! lay it smart, get a budget, dump at least 10% into retirement accounts, and get rich! FYI, if you have saved $15000 by the time you are 24, compound interest will turn it into $1 Million at retirement (assuming a 12% return in the stock market - which is very easy to do).

Good luck - keep working your money hard.

Credit ratings how fast?

The following 5 critical factors affect your credit score in a major way. By knowing these you can keep a check on them and make your credit score a healthy one.

1. Re-payment history

This factor carries the highest weight in your credit report. How steadfast are you in repaying your loans, makes your credit report shine. Experts claim that this factor alone accounts for 35% of points in your credit score. So, if you falter on repayment front it is sure to be reflected poorly on your credit score.

2. Outstanding debt

The next comes your debt burden. How much you owe is a factor that according to experts carries about 30% weight in your credit score. This is

30% is based upon outstanding debt. To get a better score it is advised that you keep your outstanding debt to a minimum.

3. Length of your established credit history

The time for which you have a credit history also matters. The longer your established credit history the more credit reporting agencies believe in you. This could be simply because of the fact that they have more data to analyze your financial position. Experts give it a 15% weight in determining your credit score.

4. The state of your financial accounts

How much money do you have in your bank account, your income levels, your house, car, your assets etc. comes the next. A healthy bank account reflects a healthy credit score. Experts find that credit reporting agencies give this factor 10% weight while determining your credit score. Read more from: http://www.credit-card-gallery.com/artic...

How can I add a few points per week or month to my credit score?

I keep my monthly debt-to-credit line ratio to no more than 2% on each of the two credit cards I got. I have a habit of paying them off online a few weeks before the due date. Monthly, I also tend to pay down a few months worth of my student loans. The only other spending/paying tools I use are my check card and bank account (balance is always positive).

My mom bought me a new car last Christmas. Of course, she takes care of paying the monthly financing even though my name%26#039;s on it. She pays everything owed on time or even little earlier. When checking my credit history and score between right before that purchase and now, my score dropped by 6 points and 3 inquiries were made. First, by the dealership. Second, by the bank they%26#039;re doing the financing through. Third, by mom%26#039;s bank because she signed up to get a quote on what APR we%26#039;ll pay them at if we agree to have them consolidate the car financing. My guess is 2 points deducted for each inquiry made?

How can I add a few points per week or month to my credit score?

Look at the website......

How can I add a few points per week or month to my credit score?

A couple points per inquiry is pretty average.

There%26#039;s ntohing you can do to %26quot;for sure%26quot; up your score 2 points each week or month or anything. Just continue what you%26#039;re doing. Dont pay off your loans to fast-- you want that good solid history for long term, if you have a limited file.

How can I add a few points per week or month to my credit score?

If you want to add points quickly (takes 10 days) you can go to this web site and opt out of getting certain mail. Opt out for 5 years - don%26#039;t opt out for life - This will raise your score 5-10 pts.

www.optoutprescreen.com

The other is an explaination of Credit: It will build if you do the following.

If you%26#039;re debts are under control now, but want to improve your credit history, the most important factor is to make your monthly payments on time. Use pre-addressed envelopes enclosed with your statements to mail your payments and call the company if you don%26#039;t receive your usual statement. Also send your payment as early as possible if you carry a balance. Most companies calculate interest on a daily basis, so the sooner they receive your payment, the less interest you%26#039;ll pay.

Don%26#039;t procrastinate. It%26#039;s the day your payment is received that counts, not the postmark date. Give the post office sufficient time (five business days is a good guideline) to deliver your mail. Late payments may mean late fees, higher interest, and/or a negative mark on your credit report.

Never send cash. Open a checking account if you don%26#039;t have one, or spring for a money order and keep your receipt. Finally don%26#039;t forget to tell your creditors your new address when you move.

If you are worried about making payments, make a list of your debts and when the payments are due. Contact your lenders immediately if you think you will have trouble meeting the monthly payments to arrange a payment schedule.

Taking money from your retirement account or tapping the cash value of your life insurance policy to pay bills or living expenses may have serious implications you haven%26#039;t considered, so try to get advice from an expert before you take any major financial actions.

Credit cards can be invaluable in a crisis, since they allow you to charge items and pay them off over time. But they can also be dangerous if you aren%26#039;t careful and charge more than you can afford. If you do use credit cards, choose those with the lowest interest rates and pay them back as soon as you can to cut your costs.

Credit Scoring - How it Works

. Credit scoring is a statistical method that lenders use to quickly and objectively assess the credit risk of a loan applicant. The score is a number that rates the likelihood you will pay back a loan. Scores range from 350 (high risk) to 950 (low risk). There are a few types of credit scores; the most widely used are FICO? scores, which were developed by Fair Isaac %26amp; Company, Inc. for each of the credit reporting agencies.

Credit scores only consider the information contained in your credit profile. They do not consider your income, savings, down payment amount, or demographic factors like gender, race, nationality or marital status. Past delinquencies, derogatory payment behavior, current debt level, length of credit history, types of credit and number of inquiries are all considered in credit scores. Your score considers both positive and negative information in your credit report. Late payments will lower your score, but establishing or re-establishing a good track record of making payments on time will raise your score.

Different portions of your credit file are given different weights. They are:

35% - Previous credit performance (specific to your payment history)

30% - Current level of indebtedness (current balance compared to high credit)

15% - Time credit has been in use (opening date)

15% - Types of credit available (installment loans, revolving and debit accounts)

5% - Pursuit of new credit (number of inquiries)

The most important factor for a good credit score is paying your bills on time. Even if the debt you owe is a small amount, it is crucial that you make payments on time. In addition, you may want to: keep balances low on credit cards and other %26quot;revolving credit;%26quot; apply for and open new credit accounts only as needed; and pay off debt rather than moving it around. Also don%26#039;t close unused cards as a short-term strategy to raise your score. Owing the same amount but having fewer open accounts may lower your score.

Recent changes minimize the negative effects that rate shopping can have on a mortgage applicant. If there is a consumer originated inquiry within the past 365 days from mortgage or auto related industries, these inquiries are ignored for scoring purposes for the first 30 calendar days; then, multiple inquiries within the next 14 days are counted as one. Each inquiry will still appear on the credit report.

Every score is accompanied by a maximum of four reason codes. Reason codes identify the most significant reason that you did not score higher. The reason codes can help a lender describe the reasons for higher than expected rates or loan denial. Scores are not part of the credit profile and are not covered by the Fair Credit Reporting Act.

Your credit report must contain at least one account which has been open for six months or greater, and at least one account that has been updated in the past six months for you to get a credit score. This ensures that there is enough information in your report to generate an accurate score. If you do not meet the minimum criteria for getting a score, you may need to establish a credit history prior to applying for a mortgage when you get older.

When you do get there, and down the road want to apply for a home loan (mortgage) Please consider the following:

Talk with a broker, a broker underwrites for many company%26#039;s (I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) FHA/VA approved too. If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a %26quot;hard%26quot; pull and it drags down your credit score. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down.

Good luck to you, in handling yoir debit - you are on the right track.

How can I add a few points per week or month to my credit score?

Are you paying the full balance of your credit cards off early every month? People will tell you that is the best thing to do, but it%26#039;s not the best thing to build your credit score. If you keep your cards charged up to half of your credit limit and pay your minimum payment every month, this will help increase your scores. You might want to start using those store cards that you have also.

The way you improve your scores is to use your credit and pay it every month. Having cards that you don%26#039;t use, don%26#039;t help your credit, even though you paid them off. Don%26#039;t worry about those inquieries, your scores will come back up.The key to good credit scores is to use your credit and keep your accounts open and active. If I were you I would just use the cards that you have, don%26#039;t get anymore. If you can afford it, use your credit cards and your store cards. Just remember not to run them up past half of your credit limit. Pay the minimum balance every month and pretty soon, you should see your scores going up.

How can I add a few points per week or month to my credit score?

Accounts in good standing for over 2 years raises your score. As someone stated earlier, don%26#039;t pay your cards off every month. If you have a card that has a $500 limit, keep the balance at around $150. You%26#039;re doing good though. You%26#039;re definitely in a good spot!

Does having a lot of Credit cards hurt your credit score?

I am wondering if you have like 10 credit cards with little or no balances will hurt you credit score? Meaning...debt ratio wise...do they go by the amount of credit you were given in order to access the debt ratio...or the amount of credit you actually have used? Meaning..if you have 10 cards with little or no balances...that doesn%26#039;t really bring your FICO score down does it?

Does having a lot of Credit cards hurt your credit score?

No. But getting them all at once, maxing them out or late payments on them sure will. For ratios I assume you mean credit utilization. That should never be over half or 50% either cumulative or combined. Hope that helped. Having ten cards for several years and with little on it will actually HELP your score drastically.

Does having a lot of Credit cards hurt your credit score?

No, I think that in order to have a good credit score you need to exercise the use of them -wisely of course, like you said little or no balance(keep it that way) If you use them and pay them off as soon as you recieve the bill then that will reflect good credit :)

Does having a lot of Credit cards hurt your credit score?

yes...and no....if the carry no balnce then you should be building, but if they carry more than 30% then it can start to be a problem.

Does having a lot of Credit cards hurt your credit score?

Be careful because as crazy as this sounds closing accounts could have a negative effect on your score because they do represent lines of credit. Credit cards that are not used - Although it is believed that having too many credit cards can have an adverse effect on a credit score, closing these lines of credit will not improve your score.

Credit rating formula looks at the difference between the amount of credit a person has and the amount being used, so closing one or more accounts will reduce your total available credit. And the lower the percentage of available credit, the more the credit score will drop. The credit formula also factors in the length of time credit accounts have been open, so closing an account with several years of history is another avoidable credit mistake.

Does having a lot of Credit cards hurt your credit score?

My suggestion is trying to obsord as much information as you can before making up your mind,here is a good one.http://credit-score.onlinebestoffer.info...

Borrow from 401k?

I have gotten into some credit card debt by thinking I could use some credit (interest free that later turned into higher interest credit), time the market, and then pay off the debt...it didn%26#039;t turn out that well and instead my credit balance increased and I feel I should pay it off.

Iwill receive a public sector pension when I retire in a few years, so I%26#039;m not %26quot;all%26quot; that concerned about my deferred comp. balances at the moment, so I feel I should borrow from my 401k plan (my public sector oranization will allow me to borrow up to half my balance in my 401k from myself) and pay off my credit card debt...

I feel this would be better that withdrawing the money from my 401k ( I know I must pay tax and a penalty if I do this)....

Does my plan of borrowing from my 401k to pay off my credit card make sense, and if so, does it make more sense than just withdrawing the required amount of money from my 401k to pay off my credit card debt...??

Borrow from 401k?

NO NO NO AND HELL NO!

Borrow from 401k?

yes, and the best thing is the interest you pay on the 401 k you are paying to yourself. why continue paying the interest debt when you could be paying yourself interest because your the bank. just borrow the money do not withdraw it. you will be fine, i have done this 2 times.

Borrow from 401k?

I would borrow from the 401K. You have to pay it back with interest but the rate is probably lower than what your credit card is charging and you%26#039;re paying the interest to yourself.

Borrow from 401k?

If there is any other way to keep yourself current on the debt, then NO don%26#039;t touch your retirement.

But if you do need to get into the 401k: if you do a straight withdraw of the amount, the federal tax portion will be your marginal income tax rate + 10% early withdrawal penalty. State penalties vary (California runs state tax rate + 2.5% penalty). If you do a loan, you don%26#039;t get hit with the taxes unless you leave service with the company -- then the outstanding balance becomes a distribution and the taxes and penalties will be due on the outstanding amount.

Borrow from 401k?

Borrowing against your 401k does make sense (so would maybe a home equity loan if you are a homeowner). In terms of borrowing vs. just withdrawing, I suggest calculating the cost in interest of paying back the 401k loan (being realistic about how long that will take) vs. the taxes, penalties, and forgone returns from withdrawing outright. Odds are, either one of these options will save you money over the interest on your credit card debt, which have the highest interest rates of most anything.

Borrow from 401k?

I do not recommend taking money out of your 401K, instead I would recommend to either get a new credit card with a free balance transfer for a year or just take out a loan.

If you%26#039;ve got a stable job with a good source of income, you might be able to apply for a loan through a website called Prosper. This site is a People-to-People (P2P) lending site where individual borrowers join in on the loans to help fund yours. The following is a link of a group that can help to walk you through the whole process:

http://www.prosper.com/groups/group_home...

Best of luck

Borrow from 401k?

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* * * * PLEASE READ THIS * * * *

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u are about to make a mistake. the only person who is going to benefit from u making this kind of a decision is me, others like me and the bank or your lender somewhere. let me explain the time i spend here may be 30 minutes in 2 or 3 weeks is to read about other peoples experiences (mistakes) so i can learn and avoid them. am sure others here are doing the same.

don%26#039;t touch ur 401k in order to pay off your credit cards. don%26#039;t borrow any loans or open another credit card to do balance transfers. it won%26#039;t work for you. am not being negative but u asked for advice and that is the fact. u have already done it and u said urself the credit card balance increased. do u want to know why it did? money is about personal behaviour. unless u change it u will get the same results. would u borrow 10k form ur credit card to go invest in stocks etc? i hope u said no. so the same applies to u r question - no it does not %26quot;make sense to borrowing from my 401k to pay off my credit card make sense, and if so, does it make more sense than just withdrawing the required amount of money from my 401k to pay off my credit card debt...??%26quot;

u need to take the time sit down and get organised financially. u need to bump up ur income. do something extra like afew hours a day. u don%26#039;t have to continue that the rest of ur life. it%26#039;s for paying off ur cc.

bottom line is what u don%26#039;t know about money will hurt u. books will educate u about what u don%26#039;t know. i recommend u get the book Total money make over by Dave ramsey. he has taught me and millions of others how to get out of debt and live debt free. he has an excellent radio call in show check out daveramsey.com for ur local listings. but please please please check out the book even if u just browse it at borders. it will change ur life for the better. i wish i can sit down with u and show u what i have been able to accomplish - pay off over 10k in cc, my car is paid off and am planning to pay cash for my home in 3-4 years. the goal is to owe nobody nothing - it%26#039;s the best feeling when u go to bed. u actually get to sleep and dream not have nightmares like i used to.

summary of what dave ramsey teaches

- save $1000 in an emergency account

-list ur debts and attack them with a gazelle intensity start with the smallest.

-build ur emergency fund equivalent to 3 to 6 months expenses

-pay off ur home

-invest to make money and u will have even extra to give away.

u have nothing to lose check out the book.