Archive for August, 2009
erin.danu asked:
I have very limited credit history. I started this January. I read that I have to get a few credit cards to build credit history. I have a secured card from Citibank which only has 200 credit limit. A Citibank secured loan for 500. Bank of America gave me 4000 CL for A Worlpoints Platinum Plus Credit Card. I have a ChaseFreedom Mastercard too. Thing is I’m preparing my credit history for a car loan. I applied for other credit cards in one day and got a few rejections… reason being having too much inquiry ( ok, i know i should have not made too many applications but i figured to just do it all at the same time) and too low credit line. But I never missed a payment, I only use 30% of my credit line and pay off more than the minimun balance.
Questions :
How bad will these inquiries affect my chances of a car loan?
How many months should I wait to have this fixed?
How can I increase my credit score?
I have very limited credit history. I started this January. I read that I have to get a few credit cards to build credit history. I have a secured card from Citibank which only has 200 credit limit. A Citibank secured loan for 500. Bank of America gave me 4000 CL for A Worlpoints Platinum Plus Credit Card. I have a ChaseFreedom Mastercard too. Thing is I’m preparing my credit history for a car loan. I applied for other credit cards in one day and got a few rejections… reason being having too much inquiry ( ok, i know i should have not made too many applications but i figured to just do it all at the same time) and too low credit line. But I never missed a payment, I only use 30% of my credit line and pay off more than the minimun balance.
Questions :
How bad will these inquiries affect my chances of a car loan?
How many months should I wait to have this fixed?
How can I increase my credit score?
Thanks!
Angel Wohlfarth
WorkN asked:
My credit score is 750 and my fiance’s credit score is 600. What happens when we get married – will we both have a combined score or will they remain separate. Also, we want to buy a house. Would it be wise to buy the house before we get married under my name and using my credit score? We may delay the wedding based on his low credit score. Is that prudent?
Pilar Bellfleur
My credit score is 750 and my fiance’s credit score is 600. What happens when we get married – will we both have a combined score or will they remain separate. Also, we want to buy a house. Would it be wise to buy the house before we get married under my name and using my credit score? We may delay the wedding based on his low credit score. Is that prudent?
Pilar Bellfleur
Franklin asked:
I made a few mistakes here and there and have some medical bills on my credit report along with other collection accounts. I have 3 credit cards that I almost have paid off and project to have my credit report clear sometime this year. My question is once I have the credit cards paid off as well as my collection accounts how would I go about improving my credit score?
I made a few mistakes here and there and have some medical bills on my credit report along with other collection accounts. I have 3 credit cards that I almost have paid off and project to have my credit report clear sometime this year. My question is once I have the credit cards paid off as well as my collection accounts how would I go about improving my credit score?
Also should I keep all 3 of the credit card accounts open?
Gertha Dolven




















