I am trying to trade-in my car; however, I am upside down on my current car loan. If I trade it, my payments will be really high. The salesperson is trying to convince me to do a voluntary repossession on my current vehicle. She said that it would not be a big hit on my credit and my new car payment will then be lower. I told her that was something that I really had to think about and research. I don’t know much about what she was talking about, and I did not want to make an impulse decision.
We filed bankruptcy two years ago and want to either refinance our home or possibly buy a new home. When the bank pulled our credit they said that our existing mortgage is not being reported on Equifax, Experian or Transunion. We have all of our monthly statements from our lender verifying that we have been paying on our house for the past 2 years. How do we show this information to you so you can start reporting all of our mortgage history on our credit report?
If a negative item is past seven years on my report and the creditor updates it, will it ever come off my report?
I went car shopping one day and now there are lots of inquires that say they will be on my credit report until 2015. Is it right for all these inquiries to be on my report so long from just one day of shopping for a car?
I have been led to believe that a component of one’s overall credit score is the ratio of current credit card balances to one’s total available credit. If one had three credit cards, is each card’s ratio calculated individually, or is it one’s total credit card balance compared to one’s total available credit? Also, I’ve heard that the important thresholds are 30 percent and better yet, 10 percent; is that correct?
As National Protect Your Identity Week (Oct. 20–26) nears an end, think about how you can actively protect your identity. Here are several ways to use your credit report to identify unauthorized activity and stop possible identity fraud before suffering potential financial loss.
I am a 19 year old college student trying to establish credit early, and it would be helpful throughout college to have a low limit credit card just in case. Also, I am trying to get a car loan, and I know I need to use credit to gain credit. I applied for a credit card through my bank and was declined. I also applied for a student credit card and was declined again. How am I supposed to establish a credit history if I can’t get approved for anything? My parents are just starting to rebuild their credit themselves. Is there any way that I can establish credit without having to have somebody cosign for me?
What does “Key Derogatory” mean?