How much does closing a credit card actually affect your credit?

Dec 022011
 

I have two credit cards. One is a CapitalOne card with a $ 750 credit limit. I was recently talked in to getting a new credit card with WellsFargo with a $ 1000 credit limit. I don’t feel safe having that amount anymore. I want to pay it all off and close it. I’ve had it for about a year. I’ve had the other one for about five years. Is that really bad for my credit score?

What is the best credit card to establish credit?

Dec 022011
 

I am a student and I do not have any credit. What kind of credit card would be good for me to start building my credit up? I do not want anything that has a monthly fee, and it does not need to be a high credit limit because I will be buying something and paying it right off. Any suggestions?

Weird Macy’s Policies.

Dec 022011
 

So as most of you know, Macy’s removed their credit limit’s around March of 2011. Now to purchase almost anything you need to call first and ask to see if it’ll be "approved" or not, on top of all that since they removed credit limit’s they don’t report the limit on your credit report which may or may not affect your utilization since it’ll report a balance but no limit…..

Well i recently called because i wanted to do a little christmas shopping, before calling i knewi had a $ 100 limit….. i called to see if they’d increase it to $ 400 overall. She said that i should try a larger amount so that they’d counter offer the maximum, well i said ok and told her to try $ 10,000, well as it turns out, i was approved for a $ 10,000 limit on my macy’s card… i didn’t even know they gave those limits on macys cards!!!!

 

So when it comes down to it… That extra $ would greatly help my utilization percentage…. too bad they don’t report the limits…. doesn’t that suck?!?! any way of me getting them to report my limit?!?!?! anyone think it’ll ever change????

Credit mortgage
byMANILA IMPERIAL MOTOR SALES . . . .

so i want to buy a house….one day…. is there any way to not have credit cards, but still somehow get a credit history and therefore a credit rating towards a mortgage?

Credit Risk Assessment: The New Lending System for Borrowers, Lenders, and Investors (Wiley and SAS Business Series)

"Clark and Mingyuan start with an insightful and comprehensive description of how market participants contributed to the current crisis in the residential mortgage markets and the root causes of the crisis. They then proceed to develop a new residential mortgage lending system that can fix our broken markets because it addresses the root causes. The most impressive attributes of their new system is its commonsense return to the basics of traditional underwriting, combined with factors based on e

List Price: $ 49.95 Price: $ 27.30

Collection Agency Hard Pull

Dec 022011
 

Good day. Im trying to get some info on how to dispute hard pull inquiries by 2 different CA. Is there any thing I can do to get them removed?

rebuilding credit
by(vhmh)

I want to apply for a credit card that rebuilds my credit , I know that whatever i deposit in my credit card is going to be my credit limit, but when i cancel my credit card, do they give me my money back that i deposit to my credit card?

Even a $ 2000 credit card would work. Does any one where i could get a legit loan or credit car unsecured with low credit

Chance at Amex AU Should I Take It?

Mar 202011
 

So I have a friend who has been kind enough to add me to her Amex Green backdated to 07 which wouldn’t affect my aaoa since mine is currently at 5 years. She has a flawless history which is why I want to be added as an AU because at this time I only have 1 positive factor on my credit report and that is my backdated Amex Optima (08) with perfect history, everything else is spotty.

Here’s the catch, she has always paid her Amex on time so they started giving her the ability to carry a balance and she is current carrying a balance of $3k, since the line is open there is no credit limit, but I’m worried the balance will affect me in a negative way, what should I do?

Is it realistic to think I can get approved for FHA by end of 2011

Mar 182011
 

I am looking to purchase home at end of 2011. I curently have FiCO scores of TU/555 and EQ/562 as of march 2011. Wife has FICO of TU/702 and EQ/725, but is a homemaker and does not work outside of home. However Texas is community property state and both spouses have to go on loan.

 

Salary- $51,000 plus commission. W-2 $72000 in 2010

Current Rent-$1200 per month

Monthly expenses $435, this includes car note and credit card payment

Debt- $41K in student loan ( currently in deferrment)

 

Over the last year, I have paid off and/or negotiated  settlements on several collections. I currently have three collections left,  two utility bills one for $1670 and one for $650, that I have made arrangments to be paid off in by August 2011. I was also approved for an unsecured Mastercard in November 2010 with a credit limit if $350 and that I  paid down to less than 30% of balance this month, which I am looking to boost score for April 2011

 

I have $6500 for down payment. Looking for a house around $150-$160K w/ 30 year FHA fixed rate

DTI on front end and back end, look OK from what I see as long as we stay in monthly mortgage ranged of $1200-$1300 month range.

 

Let me know what you guys think, especially Shane the mortgageman.

 

Signed,

 

Mr. Tired of paying rent

How long will this take?

Jan 112011
 

Until last month my FICO score was 771, but then two things happened.  In late November I accepted a $2500.00 line of credit increase and then I got very near to the max limit on my other card.  Subsequently, my FICO score dropped to 743.  I use my credit card for everything, but I pay it off every month and the total amount of interest that I paid last year was only $7.00.  I have since learned to not use my credit card so liberally, even though I pay it off every month.  So, my question is as follows:  If I keep my credit utilization under 7% and do not accept any increases in my credit limit or open any new accounts…just how long will it take my score to get bumped back up?  I want to purchase a new house this summer and I want to get the best mortgage rate.  I thank you all in advance for any comments that you might have.

 Older Entries