Credit - August 2007

It seems like the credit bureaus are just the hired muscle of credit card companies because:

They give a better score for people who have a lot of open credit accounts and

They make life miserable for those who fall behind on payments.

2007-08-23 08:26:17 · 5 answers · asked by inTHEgaddadavida 3

2007-08-23 08:22:47 · 7 answers · asked by pogi 1

2007-08-23 08:21:32 · 4 answers · asked by ibm_4life 2

2007-08-23 08:14:51 · 3 answers · asked by Charles H 1

i received it in the mail months ago, and i never authorized it.. just threw it away. Now when i try to apply for another one, it says i already have an account. Which i do, but i don't have that card, and it was NEVER activated. It was disposed of properly and i know no one has it.. So when i try to contact capital one to get another one shipped to me, every number and internet link asks for the 16 digit number of the card.. and if i say i don't have it, it just asks me again.. What do i do

2007-08-23 08:08:25 · 10 answers · asked by Anonymous

I have been working for a while now & am almost finished with working with creditors & paying off debts. I thought that once you paid off a debt, it was removed from your credit report. Now from reading some Q&A's here on YA, I see where the creditors do NOT have to remove that paid collection from my credit report. What? I was prepared for it to stay on my credit report for 7 years, but had no idea that I had to ask to have it deleted from my credit report. What difference would that make - wouldn't it still be on your credit report for 7 years, OR if they did delete the entry from my credit report (like I thought they would), would you then not have to wait those 7 years to have a clear report? I have been working very hard at getting this all taken care of, and now I find out that you have to actually ask creditors to remove the paid items from your report! This doesn't seem fair to me at all! Can someone please explain to me what happens once you pay off in-collection debts?

2007-08-23 07:00:05 · 6 answers · asked by WhoMe? 5

2007-08-23 05:33:05 · 2 answers · asked by alen m 1

I have just opened my first credit card, and wanted to know how do I build a good credit history? besides the obvious paying my bills on time. Should I have more than one credit card? and about how long does it take for credit to build up...months...year???

2007-08-23 05:13:07 · 6 answers · asked by Mayelita 3

with the credit i have which is the "poor or fair" standing with 601. It's more than likely i'll have to do a secured loan, but i have no savings, cds, or accounts or collateral. in such case am i screwed? do i have any other options? i need a loan anywhere from 1 grand to no more than 3 grand. most places make the minimum 3 grand or even 7 grand. i want to use it to pay off high interest credit cards, 3 credit cards with limits of 300 each. the remaining could pay off my 2 grand student loan. i just want them paid off to make my life easier. what can i do? i know i wont qualify for a non secured loan due to my credit problems in the past. help??

2007-08-23 04:59:48 · 6 answers · asked by kburgess612 1

Does anybody know the online addresses for these two credit cards? I want to cancel them, but I owe on them and would like to avoid the embarrasment of cancelling over the phone. I know this is cowardly, but my finances are in such a wreck that I have to do something and simply cancelling these cards online and telling them to send me a final bill (and not answering the phone) seems the easiest thing to do. Thank you, all of you, for your help. If someone could provide me with the online addresses for these two cards I would genuinely appreciate it.

2007-08-23 04:54:34 · 3 answers · asked by John Timothy 5

I've had an orchard bank and a first premier bank credit card for about a year now, I'm trying to rebuild my credit score since bankruptcy. I was just approved for and got a capital one card. I only have a $250 limit on one (which is paid off) and a $400 limit on another (that I owe about $320 on). The capital one card has a $1k limit. I was debating paying off the one card and canceling them both. The interest rates are crazy (30%) and they charge me $6/month. Should I cancel them?
Thanks!

2007-08-23 04:51:26 · 6 answers · asked by Richard W 1

2007-08-23 04:48:27 · 1 answers · asked by alen m 1

I received papers 1 week ago. I do want to pay the debt, but I wont have the money for a couple of months.

2007-08-23 04:42:57 · 4 answers · asked by Jim with a B 1

Hi everyone....I have heard alot of contradicting information on Orchard Bank's Mastercard. I have not-the-best credit, and am looking to help improve my score. I have one bill to pay off, but 2 'black marks' on there. I was wondering if anyone has used Orchard Bank's Credit Cards to rebuild their credit, and how it worked out. IM NOT looking for a credit card to charge on.....just a card that i can put small purchases on to help my score go up. Also, i know it is secured, and you have to put down $100 less than the line of credit you want, but do you get that deposit back ever? Please, comments.

2007-08-23 04:39:24 · 5 answers · asked by ~Giggles~ 2

Should it be higher?

2007-08-23 04:37:27 · 8 answers · asked by Jen 1

I am trying to buy a house however my friend needs me to sponsor her college loan. If I signup to be her cosigner, would that directly or indirectly impact my creadit rating or score? I would like to help my friends but afraid of not qualifing for home loan or better interest rate

2007-08-23 04:32:50 · 11 answers · asked by HelloWorld 1

i applyed for a capitalone credit card about a week ago and i got a letter today to say " congratulations you've been accepted" i just ave to sign the the agreement papers and send them back, so have i really been accepted?

2007-08-23 03:47:54 · 23 answers · asked by marie 2

I had a great credit score until there was a mix up with a cable service that I cancelled but still billed for. I now have (2) derogatory items on my report. I am in the process of disputing this issue with the billing company and the (3) credit bureaus. I am just curious as to the "worst case" scenario. If the dispute does not go my way and I do indeed need to pay this bill, then the negative marks on my report will stay. How long before they would fall off the report?

2007-08-23 03:35:32 · 11 answers · asked by Anonymous

I have been in contact with the collection agency and they said they would settle the $18,000 debt for $11,000. I do not have $11,000 nor am i able to get a loan. Is working with a debt consolidater just as bad as filing for bankrupcy? I have a family and want to buy a house and this is the only thing standing in my way...what do i do?

2007-08-23 03:32:48 · 9 answers · asked by melis8409 1

last month i spent about 220 on my card and my limit is 300. i paid it all off before the due date. now the due date has passed about 3 days and there is still no available credit on my card. when or how long do i wait till they credit on my card

2007-08-23 03:22:01 · 1 answers · asked by joetrangmoneymaker 1

2007-08-23 02:51:44 · 2 answers · asked by Julie 1

2007-08-23 01:59:08 · 9 answers · asked by hamster 2

meaning & definition

2007-08-23 00:43:16 · 6 answers · asked by vijaynaga_raj 1

I will be done paying off my car the summer of 2008, once it's paid off, will my credit score increase.

2007-08-23 00:35:43 · 10 answers · asked by Anonymous

could cash it??..it's made out in my name...should have taken 1 day and it's been a week...

2007-08-22 17:26:24 · 5 answers · asked by Happy Summer 6

I was part of a Credit counseling group, Was making payments each month,they got rid of some debt as the funds built up . Upon doing this I started receiving letters from a lawyer for MBNA saying i will be sued. They took it to court and now frozen my bank account. The lawyer wants $8300 in full in order to unfreeze my bank account ,and will start garnishing my paycheck. They say they will not unfreeze my account until its paid in full and they can hold the acct for up to one year. Obviously I can not afford to pay it in full but was willing to pay the lawyer $500 a month till the debt is relieved and to have my account opened immediatly. They stated it is too late to make payments. Upon taking the info to ignore the letters from the credit counseling company,it has now biten me. I no longer deal with the counseling company. Anyone have any ways I can take care of this matter? Is bankruptcy a good choice. My total debt is about 15000 and about 50% of my yearly income?

2007-08-22 17:16:05 · 4 answers · asked by Willino 1

We just found out somebody else is using my husband's SSN in 4 different states. They have been registering license plates in these states and apparently have an open account with some agency that lends out money. Any professional advice?

2007-08-22 16:40:51 · 2 answers · asked by Anonymous

I have 4 credit cards. They all have the lowest limit on them. At first I was using them almost to the max for anything bought. When I got the Statement, paid it off in full. Then my boyfriend said don't max them out and to leave some kind of balance on them, so I did. My credit score isn't too high as of now. About 580.... I think. Well it has been about 6 months sence having the cards. I haven't had a limit increase yet on any of them. also I decided to put them all away a month ago, not because couldn't afford it, but because I think this may help myself out more if I simply don't use them. When I put them away there was a balance of aboout half of what the limit was on each, and now when the statement comes I pay 1/3 of it.
So my question is, is this a good way to help my credit, or is there another way to help. I am 28 and never had or wanted credit cards that is why I haven't had them in the past, but the older I get the more I realize that you need credit.

2007-08-22 16:36:57 · 7 answers · asked by ANGELA B 1

If you were to cancel your cell phone contract and pay the penalty, would that still affect your credit score?

2007-08-22 16:00:02 · 11 answers · asked by hawgsfan2000 2

Hi I want to increase my credit limit on 2 credit cards but I want to know will it bring down my credit score or will it bring it up? Basically will it hurt my credit?

2007-08-22 15:57:38 · 6 answers · asked by Ali 2