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Is it bad for your credit to have too many credit cards even if they are paid off in full every month?
yes, it is bad to have to many credit cards because it shows that you are able to spend this at any time you should keep 2 cards with the longest good credit history and cancel the rest. also to improve your credit history more spend $100 dollars and make monthly min. payments to show that you can pay off something and your credit score will really improve.
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How do you get a loan without a cosigner?
You need good credit and/or a good income. Start by applying for Store Cards at Sears, certain clothing stores, or even a gas card and using it every month and paying your bills on time. This will build your credit rating and increase your chances of getting a loan.
Do you have a credit score if you do not have any credit cards?
Yes, it is possible to have a credit score even though you don't currently have any credit cards. If you have ever applied for credit of any type then you are likely to have a credit score.
How do you rebuild your credit?
The simplest way is to pay all of your bills, on time, every month. For example, being late--even by a minute--will cause your interest rates to rise on your credit card (and, if you have universal default clauses, will make the rates on other cards rise). Second, try to use less than 30% of your available credit. In other words, say that--if you add together all of the credit limits of all your credit cards--your available credit totals $10000. Don't put more than $3000 (30% of $10000) on your credit cards. If you use too much of your available credit, it looks like you can't manage your money well. Don't make credit lenders think you're living beyond your means.
What are credit cards?
A credit card is something that is like a loan. People use their credit cards at stores and the credit card company automatically pays the store back. Then you basically pay the money back that you borrowed from the credit card company over a few months. A credit card is a card that allows you to borrow money for paying your purchases, for a product or a service, with a set limit. The card may be used repeatedly, until the set limit is reached. At the end off every month, you have an option to repay the whole amount; or only a fraction of the whole amount you owe; even a minimum amount. Credit cards are issued by banks, savings and loans, retail stores, and other businesses.
How does interest free credit cards benefit people?
Interest free credit cards benefit people by making it impossible for them to run into credit card debt. Even if they keep a balance on their credit card, which is most people.
If you have 3 credit cards in collections and were told not to pay because it won't help your credit score but every month the balance keeps going up isn't this hurting your score even further?
You were given bad advice. You should attempt to work out payments with the creditors.
What can you do to make a credit score strong?
Use credit wisely. Do not use all of your credit (or even most of it) and pay your bills on time. ALL bills. EVERY month.
How do you get a loan without a cosigner?
You need good credit and/or a good income. Start by applying for Store Cards at Sears, certain clothing stores, or even a gas card and using it every month and paying your bills on time. This will build your credit rating and increase your chances of getting a loan.
Is it true that you can be excluded from all credit reporting even if you have credit cards?
no
How many digits does a card number have?
Most credit and debit cards have sixteen digits. American Express cards have fifteen. Even fifteen digits is enough to allow every single person on Earth to have over a thousand credit cards, which is why it's unlikely that a random string of digits will turn out to be a valid credit card number.
Do you have a credit score if you do not have any credit cards?
Yes, it is possible to have a credit score even though you don't currently have any credit cards. If you have ever applied for credit of any type then you are likely to have a credit score.
What state accepts credit cards?
all states accept credit cards there arent any that do not accept use of a credit card. I think other countries even allow the use of a credit card
How do you rebuild your credit?
The simplest way is to pay all of your bills, on time, every month. For example, being late--even by a minute--will cause your interest rates to rise on your credit card (and, if you have universal default clauses, will make the rates on other cards rise). Second, try to use less than 30% of your available credit. In other words, say that--if you add together all of the credit limits of all your credit cards--your available credit totals $10000. Don't put more than $3000 (30% of $10000) on your credit cards. If you use too much of your available credit, it looks like you can't manage your money well. Don't make credit lenders think you're living beyond your means.
What are credit cards?
A credit card is something that is like a loan. People use their credit cards at stores and the credit card company automatically pays the store back. Then you basically pay the money back that you borrowed from the credit card company over a few months. A credit card is a card that allows you to borrow money for paying your purchases, for a product or a service, with a set limit. The card may be used repeatedly, until the set limit is reached. At the end off every month, you have an option to repay the whole amount; or only a fraction of the whole amount you owe; even a minimum amount. Credit cards are issued by banks, savings and loans, retail stores, and other businesses.
How does interest free credit cards benefit people?
Interest free credit cards benefit people by making it impossible for them to run into credit card debt. Even if they keep a balance on their credit card, which is most people.
Which credit cards offer the best interest rate for people with poor or fair credit?
Well, I would recommend Visa or MasterCard because they offer great services with their credit cards, even for people with poor or fair credit scores. They also have very low interest rates for their credit cards.
How a Secured Credit Card Works?
Many people with poor credit wonder how they can ever begin to rebuild their credit. After all, it's hard to get approved for loans or credit cards with a poor credit score. A secured credit card is one way of rebuilding a poor credit score. A secured credit card is not the same thing as the regular credit cards that you get advertisements for in the mail. They are "secured" because you have to support the credit card with funds. For instance, if someone has a secured credit card with a $500 credit limit, they must pay $500 to the credit card company in order to access the funds on their credit card. In that way, it is somewhat like a prepaid debit card. However, the deposit is held as long as you use the card. Your deposit is returned to you when you close the card. Typically, secured credit cards start out with low credit limits. You can get a higher credit limit in a few different ways. Regularly paying off the card or making consistent, on-time payments may qualify you for a credit limit raise. Some companies require you to add to your initial deposit to get a higher credit limit. Secured credit cards can help consumers build their credit scores with all three credit bureaus. The entire credit limit is reported to the credit bureaus, and every payment that a consumer makes on a secured credit card is reported to the bureaus. As the on-time payments build up, the credit scores will begin getting higher. To get the most out of secured credit cards, consumers should use it monthly for a few small expenses. Pay it off every month to avoid interest charges; secured credit cards are known for having high interest rates. Most secured credit cards have a number of fees associated with them. Many cards charge an application fee, although it is possible to search around and find a card that doesn't have an application fee. Every secured card has an annual fee, due to the added work of holding a deposit and giving credit to a credit-poor consumer. Some banks do take advantage of consumers who need secured credit cards; some charge so many fees that the majority of the card's credit limit is used up before the consumer can even use it. To avoid this, consumers should look for cards that do not have an application fee, monthly maintenance fees, or fees for paying online. When used correctly, secured credit cards are a safe way for consumers to start rebuilding their credit scores. They can help people rebuild their credit without paying high interest rates on a large balance every month.
