Help With Credit Score - Credit Rating Knowledge Base

Credit Rating Knowledge Base

Credit rating? I have just checked my rating for the first time online and it says that I am not at the maximum credit rating which is 1500 points. I have had no financial difficulties in the past and have paid off any overdrawn money on time. I have one credit card which I got about 3 months ago, and one debit card which i'v been using for a few years. I am 23. Does anyone know if anything lower than full credit rating means you have been in trouble, or if you must work your way up to the highest level of credit rating? I am located in the UK. My credit rating is actually 3 out of 5 while my credit score is something like 1100 points out of a possible 1500

Credit Rating? I work as an env engineer in US, during my student time I raked so many bills in credit cards; I have started paying all of it , and intend to pay them of, however, I am 27 and planning to get settled by next year, I am sure with my credit rating (560), i wont be able to get loan, or any financing for even the basic stuff, will moving to Canada help? Though I know u wont have a credit when u move to a new country, however, no credit is always better than bad credit// Pls advise

Credit rating!? If someone has a bad credit rating in the uk, ccj's etc and went to live in say Spain, would you be able to get credit or would your credit rating follow you? x

Credit Rating? Hi, I recentley applied for a car loan and was told that my credit rating was a tier 5. Could someone let me know in terms of credit where does that leave me. I have been trying to rebuild my credit and have not been late on any payments with credit cards etc... Thanks Mike A.

credit rating? I live in Perth, Australia, I want to know what and how your credit rating is worked out. Obviously it takes into account late payment of bill and outstanding debts and all that, but is there anything else that you might not think would be included? also, is there any way to check your credit rating without applying for something or paying a bank to do it???

credit rating? i have really poor credit rating and carnt get credit from anyone.also because i dont have any debt now nobody is willing to give me a chance.were do i go???

Credit Rating? Does it affect your credit rating to accept automatic increases in your overdraft / credit card limit I have just had my overdraft on my current account increased from £600 to £1100 - I have never used the overdraft (except maybe by about £10 on one occasion).

credit rating? i have bad credit rating, i have been very irresponsible, but have learnt. i thought i owed money, about 300 pounds to some companies but when i asked for my credit report nothing os mentioned on it to say i owe any money. it might be that cuz i owed this money 5 years ago. do you what happens now. has that been resolved or what. i have lost all the details is there any way i can find out who these companies are and get in contact with to settle my debts to avoid any trouble in the future. thanx

Credit Rating? I have checked my credit rating and it is 'fair'. Is this ok to get a mortgage or a car on hp?

credit rating? my credit rating is really bad and am finding it really hard to get a loan my only option is to get one of the likes of yes loans and places like that do you know which one would be the best?? i need one of one desperate for xmas help.

Credit rating? What tips can you give me for building a good credit rating?

Credit rating.....? I am 20 and looking to build up a good credit rating, whats the best way to improve it? Thanks

credit rating? I messed up my credit a few years ago, i thought about filing bankruptcy, but as soon as i was about to contact a lawyer, i went to a car dealership and to my surprise they approved me for a loan(interest rate very high), i was wondering if i pay my car notes on time will it improve my credit score?

credit rating? I have 3 minor medical bills on my credit report, $233.00-75.00 and 135.00. I have paid all 3 of these the last 3 months. They are still on my credit report as paid collections. I am sure these are bringing down my score. I am trying to purchase a condo. the mortgage guy has offered me a loan but cant find any thing I want in this price range. I have an excellent job as a nurse and can always work extra if I want to. Could this be why my loan a mount is so low? I only have $650.00 -750.00 in monthly bills with the exception of high rent. Do you think I should go find another broker and maybe get a higher loan amount?

Credit Rating? If you have recently got married, and applied for a credit card with your married name, not realising that the company that you applied with is one you had an outstanding debts with before you got married, how easy would it be for them to check up on that? Sorry should have explained, Ilive in England and we dont have social security numbers. It just asks for name, work, address, phone number etc, and all that has changed since last time

Credit rating? How can you make it better once you have a few defaults from missing a few payments with just one company?

Credit Rating & Credit Card Question? I currently have three credit cards and was thinking about paying off and getting rid of one (interest rate is too high and the credit limit is too low). I was wondering (as it relates to my credit RATING) : Is it better to payoff the credit card and closing it BEFORE applying for new one OR should I apply for a new one, transfer the balance, and then cancel it? I'd rather do it the 2nd method (transfer) if it doesn't matter credit rating wise. Any thoughts would be appreciated thanks. Btw, my credit rating is currently in the low 700s. Thanks

Credit rating bad from 1 debt that i didnt know of??? Hi, I have just checked my experian credit check which i have just paid for because i seem to be having trouble getting credit, or i get a high APR. I owned a house for 2 years which i never missed a payment on, and all my credit cards, loans from past and for now have all been paid off without fail, except for one, which is for £5 from Shop direct financial, which i am asuming is a catalogue. It says i have owed this for a good 3-4 years, but i have NEVER been written to about it or asked for it, therefore, how did i know i was supposed to pay it back? I need my credit rating to go up, at the moment its showing Very Poor, just from this one bill! How do i go about this? I will contact the Shop direct people first to clear this account with them, but then what do i need to do to get my credit rating up again? Contact Experian credit rating?? Please help!

Credit rating piggyback? Ok, so my brother made some bad choices and pretty much ruined his credit rating. He is paying off his debt now but is trying to get his rating up if possible. I have heard that I could put him as an authorized user on my credit cards (I would not give him a card to use though) and his credit will benefit from my good rating. However, will his credit affect mine in any way, vice versa?

Credit Rating Question? I just finished paying down my credit card balances to zero. I want to lower the credit limits down from about 30k each to around 2 or 3 thousand. Will doing this hurt my credit rating? I understand that closing any accounts can lower a persons credit rating. I have no plans to cancel any credit cards, just lower their limits.

Credit rating - how is it linked to the individual? A friend and myself were discussing this the other day, basically because my credit rating sucks as I rinsed overdrafts and credit cards whilst at Uni. I'm moving house soon, and we don't see why I can't apply for a loan with a decent rate of interest (normally reserved for people with "good" credit history) to pay off my debts, simply by saying I've lived at that address for, say, the past 5 years, maybe even change some small details, such as date of birth, middle name etc to further remove that history from my records. Does anyone here actually know exactly how your credit history is linked to you? We thought it might be National Insurance number, but that's not asked for when applying for credit cards / loans. Cheers.

I have a credit rating question - I am mystified on how it works? ...My credit rating has been going continually down, according to my credit monitoring service. It is now only rated as "fair". I only make credit card purchases when I have enough money in my bank account to pay the bill in whole when the bill arrives, and that is exactly what I do. I use my cards to buy things on the Internet (usually quite small in amount), and occasionally to make large purchases such as airline tickets (twice in last two years) - for several thousand dollars. One of my friends told me that making large purchases and always paying the balance in whole is bad - I am supposed to only make the minimum payment every month to have a good credit rating. This makes no sense to me. I would think that paying the balance as quickly as possible would be an indication of responsible financial behaviour and therefore I would be a lower credit risk with improving credit ratings. Are there any credit card or bank employees out there who can explain this? Thanks. And yes, I have made payments on time each month. (ran out of characters LOL) I have only two cards. Honest! snvffy: this is a finance question. Did you expect it to be exciting? LOL

Will my Credit Rating go down by asking my Credit reports from many agencies like Equifax, Experion,? Will my Credit Rating go down by asking my Credit reports from many agencies like Equifax, Experion, Freecredit report.com etc.? I am planning to buy a new Honda car and I want to get my own credit reports from various agencies instead of relying on Car dealer credit reports to get better price on car. Can you advice? which credit report i can rely and by taking many reports from various agaencies will effect my credit rating?

Credit Rating Inhertiance? When you apply for a credit card at 18 (the minimum legal age to get a credit card independently), do you inherit your parents' credit ratings? Do they have any affect on your credit ratings? Also, if you apply for a supplementary credit card on your parents' card at 16, for example, do you inherit their credit rating?

Will my Credit Rating go down by asking my Credit reports from many agencies like Equifax, Experion etc.?? Will my Credit Rating go down by asking my Credit reports from many agencies like Equifax, Experion, Freecredit report.com etc.? I am planning to buy a new Honda car and I want to get my own credit reports from various agencies instead of relying on Car dealer credit reports to get better price on car. Can you advice? which credit report i can rely and by taking many reports from various agaencies will effect my credit rating?

Will cancelling credit cards and changing banks ruin my credit rating? I'm in the process of moving and will need to change banks from a local credit union to a more global bank. I've been with this credit union for about 6 years. If I closed my credit union account and opend another account where I am going to be living will my credit rating get a hit? I have heard that my credit history I had with the bank will not be on my credit report which will hurt my rating, since I have had a good history with this bank. I have this same question for credit cards as well, since I do not use my amex anymore, but have good credit with them, and do not want to pay the annual fee anymore. Will cancelling my amex remove the good credit I had with them from my credit report, which in turn hurt my credit rating?

Establish Credit Rating?? HI. I'm doing some research. My boss has an excellent credit rating in the USA where he has lived his whole life. He has recently moved to Canada and found out that his excellent credit rating is not following him..is there a way he could perhaps contact Equifax and have the US branch of Equifax transfer information to Equifax canada? Does anyone know of any other established ways of transferring an excellent credit rating from one country to another? Any help appreciated

How does Credit rating agency evaluate individual credit? How can I start a Credit rating agency? How does Credit rating agency evaluate individual credit? How can I start a Credit rating agency?

How should I go about raising my credit rating? About 8 months ago, I applied for a credit card. I use it religiously about 3-5 times a month (usually about $20/month) so that I can raise my credit rating. I currently have Capital One so the APR is quite high (Mine's at 21.50% right now). I had 2 mishaps where I was unable to pay the $10 minimum payment. I owed over $400 (My credit limit) and now I just payed $100 of it. I'll be done paying it off by the end of this month. My question is: How can I A: repair the damage i've done to my credit and B: go about raising my rating?. I inquired with the 3 leading credit rating companies (Equifax and others) as to my credit rating and they all state that my credit rating was inconclusive. Does this have to do with the fact that I just established my credit 8 months ago or the fact that this year is the first year i'll be filing taxes with the IRS? I'm really clueless when it comes to credit and so are my parents. Any info would be great!

International credit rating? Let's say someone lives in Japan and takes out a loan on a car and has a couple of credit cards. This person always makes the payments on time on both the loan and on the cards. (So basically, the person has a good credit rating in Japan.) Eventually the car is paid off and the person has no outstanding debt. Then one day the person decides to move to the United States. Upon arriving in the United States, will that person's good credit rating from Japan follow him or her? Or will it be that because none of those transactions occurred in the United States that as far as the United States is concerned, that person simply has "no credit"???

Credit rating question? I'm 19 and live in ontario canada. I just did a credit rating from TransUnion. My credit rating is 692. It said I have never missed a payment on anything. My question is, how good is this rating? What is a poor/good/excellent score? oh no, I was not wondering why it was so low. I was just wondering how good my score was. Thanks cinurmom :) I am getting a $1,500,000 loan to buy a hotel. Email me in my profile if you are interested

Making my credit rating better? I recently got a credit rating report and ther were qute a few things still on there that I had paid off years ago. I still have quite a high balance on a catalogue and a store card, plus lately have been overdrawn quite alot due to companies taking cheques out two weeks later than expected which means that I have become overdrawn and had several overdraft charges. Reason I am asking whether I can improve my credit rating is because in the next year or two my partner and i are looking to buy our own house and don't really want to get knocked back due to my credit rating. Which we did not so long ago. I am making regular payments, high payments than the minimum to try and get things paid off. I also would like to know is, say in a year I manage to pay everything thing off and all balances are 0, will my rating improve and be able to get a mortgage?

Repo question and a general credit rating question too!? Okay, this is a little complicated. My fiance and I are about to get married and want to buy a house, among other things. Basically, we're trying to get his credit rating higher, because in his younger days he was a little careless with his credit. He had a repo which he has just paid off, and some other debts which he has either already paid off or is about to have paid off. My question is regarding his credit rating. I'm getting conflicting information about wether or not a repo is removed from bad standing in a credit report once it is paid off in full like we have done. Like for instance, he has paid off his one credit card, yet it still remains in bad standing, even though it is paid and up-to-date. (he missed one payment last year, 30 days late) How can we get his credit rating up to snuff to buy things like our first home? Will this repo stay on his credit for 7 years, or will it be removed? This is all so confusing, I wish it were easier to understand :( I am so worried this will affect us from being able to buy our first home... I know we can just show them it is paid off, but we're hoping for a lower interest rate on the home loan. Oh, and by the way, it was a voluntary repo, but they had to come get the car because it wasn't working, so I'm not sure how it would be shown... it's not listed as an i9 or anything, just as an account in bad standing listed as a repo. Hope this helps! While I appreciate the answers regarding debt consolidation, my real question is in regards to the repo and its affects on his credit after being paid off. We would like to know if it is going to go away or will it take 7 years? Thanks!

Blacklisted credit rating. What can I do? I have recently moved into a new house and I now find that I am unable to obtain a credit card because of poor credit rating. How can I fix this? Have you had similar experience? (Before moving I have always had an excellent credit rating and have never been debt) Pnk - that link would be great but it doesn't work because I'm in the UK Perhaps it's different in the UK. Here, if someone lives in a house and doesn't pay their bills and then moves out, the next owner/occupier is left with 'poor credit' rating this means that I cannot get a credit card or similar item like buying a car on a hire purchase scheme. This question does make sense and please don't talk to me as though I was an idiot. Hi Sherryn, I don't think you read the question. I agree with you! I have never been in debt before - not ever. I pay a mortgage which I can comfortably afford to pay, I don't have any credit cards, I don't have any expensive items on hire purchase and I always pay all my bills on time. It's not fair that I get a lecture on being careful with my money when I am. Thanks, Dominique Hi Sherryn, I don't think you read the question. I agree with you! I have never been in debt before - not ever. I pay a mortgage which I can comfortably afford to pay, I don't have any credit cards, I don't have any expensive items on hire purchase and I always pay all my bills on time. It's not fair that I get a lecture on being careful with my money when I am.

building credit rating with bank acc? I am 18 & I want to build a credit rating 4 a mortgage. I am a student and am not working. I have a full bank acc with an overdraft facility but I never go into the red, is this helping my credit score? Can I improve my rating any other way without a credit card?

Bad Credit Rating Impliatons: Additional Card Holder For Mother? I have a bad credit rating. My mother doesn't. My Mother wants to put my name on her credit card. I don't want her to discover I have bad credit. Will the credit card company disallow her from putting me on her card as an extra name because of bad credit or wlill they not bother to check?

My credit rating is very bad, infact so bad I cant get credit at all, what do I do ? The problem is this, I cant get credit anywhere here in the UK and yet I am full time employed, but I have just completed University with a debt of £16k. I have applied for a starter credit card to build up my credit rating but have been point blank refused. I have an overdraft facility on my account but I am up to the limit apart from when I have got paid at the end of the month. Any Suggestions as to how I can restart to make me credit worthy ?

raising credit rating? If I had a credit rating of 650 and then paid off all of my credit cards and loans how much would or could I expect my credit rating to raise?

Would my credit rating decrease if I close an account with %16.99 w/ $5K debt & roll it over to a 0% APR act? I am finding that there are many other credit card companies that offer much better benefits (much lower APR (though it's variable, the one I have know is a fixed APR %16.99)) like airline miles, cash back for gas+groceries, but I'm worried my credit rating is going to go down for closing my existing credit card account. I do know the longer you have an account open and in good standing, the better for your credit rating, but what if another company is making me a a great offer, i.e. rolling over my balance with 0% interest until 2011? Is it worth it? Thanks for the response...I do have 2 credit cards already, I've also heard opening up MORE credit cards hurts your score...? I suppose in relative terms, I'd be winning in the long term is I think is what you're saying... hmmm...

Question about Credit Rating? Can someone please tell me why if you are looking to buy a car and several different places run your credit to get your loan approved with their banks, your credit rating goes down? I don't understand why it would go down. What is the reason behind lowering your credit rating for shopping around for the best deal? Just trying to understand how this all works.

Does your credit rating affect your ability to rent a U-Haul truck? We had a family member call us from another state. They wanted to use our address to rent a U-Haul truck. They said they couldn't use their address because their credit rating was not good. (A step-child ruined their credit , according to them.) We told them we didn't want them to use our address in case something happened to the truck, then it might affect our ability to rent a truck from U-Haul in the future. We called our local U-Haul office. They told us that credit rating couldn't be determined using an address alone. Something fishy seems to being going on here. What do you guys think?

how the credit rating helps in mibor or libor rates and is there any interest rate benefits for good rating? is good credit rating helps the industry to get finance frm market and on low interest rate, and is there any source frm where someone got the information abt it

? about credit rating...? What sort of things make black marks against your credit rating? Do you have to recieve a debt collection notice for it to go on your credit rating or just a final overdue payment notice??

How does consolidating credit debt effect a credit rating? My credit rating is probably better than the average as I pay all my credit bills on time, but I'd like to consolidate all the debt for a lower interest rate, with an eye on paying it all off faster. Would it be better to pay off the balances individually than to consolidate? How will zero credit card balances effect my credit rating? Any suggestions, and any recommended books, would be appreciated. Thank you!

bad credit rating? i currently have a bad credit rating but have just secured a good job which will mean i will be able to pay my loans and overdrafts off within 6 months. if i do this and then do not borrow or go into my overdraft, how long will it take me to get my credit rating back to 'high'? thanks

Why is my credit rating poor(589)??? I just checked my credit report, and it's a 589! It said I have 0 negative items, and 27 items in good standing. About 10 out of the 27 items were student loans that added up to about $25,000, 2 of the items were credit cards that added up to $5000. I've never been late on any payments, and I have no idea why my credit rating is poor. Is it because of the ratio of how much I have in comparison to the lines of open credit?? Like, if you oh more than 50% of all your lines of credit, does that knock it down? I'm going to be paying off these credit cards very soon, how many points do you think it will increase once I pay them off? Thanks thanks wizip for completely NOT answering my question.

how important is credit rating when applying for a job? I have a low credit rating due to medical bills. I am paying them off slowly but it has made it on to my credit rating. When interviewing companies check your credit rating, will this disqualify me or make it harder to find a job?

i have no credit rating how can i get a credit card? i cant get a card anywhere because i have no credit rating. how can i get a credit rate when nobody will give me credit. what do you have to do!!!

Credit rating question? If I buy something with my credit card and go home and pay it off right away; will it hurt my credit rating?

Why does closing a credit card hurt your credit rating? A Visa card I've held for years and paid faithfully recently sent out letters to state they are increasing their interest rates 6%. This is an incredible jump, so I called to try and negotiate. I was told I could either accept the rate or not charge anything else on it and pay it off at the current rate, and I chose the later. Once it is paid off, the card will close. I've read that my credit rating will suffer. Can anyone explain why, or give me an option to hurting my credit rating that doesn't include me capitulating to a terrible interest rate.

Credit Rating Scoring? My credit rating is 814. I am one of those people who has never had any problem. I pay my credit cards bill in full (I have never paid one cent in interest or late payments), paid my 30 yr mortgage off in 15 years and am perfect in all payments. (I'm in my 60's) My question is why is my score only 814? What would it take to get it to the top of 850? Thank you. I'm not complaining, just wondering how credit scores are arrived at. Thanks for your answers.

Help finding Credit Rating, P/E ratio, Interest rate.? I am doing a nonparametric wavelet based regression analysis to predict stock values. I am doing my analysis on IBM. I would like to consider credit rating, interest rate, P/E ratio, divident yield, etc. I am having a very hard time finding these values. I need to find these values along with a history from 1990 to present. any help is greatly appreciated. thank you matttlocke

Help finding Credit rating, P/E ratio, etc...? I am doing a nonparametric wavelet based regression analysis to predict stock values. I am doing my analysis on IBM. I would like to consider credit rating, interest rate, P/E ratio, divident yield, etc. I am having a very hard time finding these values. I need to find these values along with a history from 1990 to present. any help is greatly appreciated. thank you matttlocke

Credit rating, P/E Ratio, help finding? I am doing a nonparametric wavelet based regression analysis to predict stock values. I am doing my analysis on IBM. I would like to consider credit rating, interest rate, P/E ratio, divident yield, etc. I am having a very hard time finding these values. I need to find these values along with a history from 1990 to present. any help is greatly appreciated. thank you matttlocke

improve my credit rating??? I have been living and working abroad for the last ten years and have just come back to live in the U.K. I have never had a credit card or obtained credit in any form in the U.K and therefore dont have a credit rating. How can I start to build one up? I was even refused credit by littlewoods!!!

What happens after you damage your credit rating ? Hi, a question from Australians only. What are the consequences after you damage your credit rating. Example take a personal loan, or credit card and fail to pay back due to any reason. Question 1: Is it still possible to get car finance or any other loan while your payments are outstanding. Question 2: Is there any time duration after which your history could be wiped off. Question 3: What if the amount owing is too big to pay it back, and one declares himself bankrupt, in that case would he/she be able to start a new credit rating ? Question 4: In short, what are the options of getting loan/credit card/car finance (apart from paying the owing amount back) when one has a bad credit rating,

Credit Rating..? My friend wants to buy a car, but most of the dealerships that she has gone to have told her that because she has NO credit it is worse then having bad credit. So my question is what is the easiest, quickest way to gain some credit? Thanks for he help!

credit rating errors? i am 27 private tennant living at the same address for nearly 3years and i earn over £32k per year but i get refused for credit on a mobile phone costing under £20 month?! the only debt i have is my student loan that i pay off regularly. How can i get my credit rating and challenge it? experian have been no help

Is your credit rating bad before bankruptcy if you have been in debt for 6 years & not paid anything? Can credit rating get better after bankruptcy or is it same as before if you have been in debt for long time & not paying back, even of credit rating is bad after bankruptcy isnt it still bad before it aswell.

Does the credit rating be worser if you file for bankruptcy? If you dont file for bankruptcy but also dont pay the debt is ur credit rating still going to be bad? example: am in debt of £6,000 for 6 years now but have contacted them & keep getting letters, is ma credit bad now? will it be worser if i file for bankruptcy? or same as now? is it worth filing for bankruptcy? shall i just keep ignoring the credit angencies? im not going to get a card , loan or anything like that in the future so shud i just keep ignoring them? but at the moment can i still take a card? as i have file for bankruoptcy but also not got back to the collectors?

Will switching my credit card to a new provider worsen my credit rating? Right now I have a credit card with a very high rating, nearly 33% because I missed a bunch of payments. Now I am paying off the debt but I just received an offer from Capital One to switch the acocunt to them with a 13% interest rate. I know that holding a credit card is better for your credit rating than cancelling it, but what about switching the account to a new provider?

Does signing up for multiple credit cards, and checking your credit rating, lower your credit rating? I'm interested in several credit cards for various reasons, but I've heard that having lots of credit cards, even if you don't abuse them and pay all your bills on time, lowers your credit rating. Also, I've heard that every time you check your credit rating it goes down. Is that true?

Question about Credit Rating? I have an account that I am getting ready to pay off, and found out that it is a revolving credit account. After paying it off, will it negatively impact my credit rating by closing the account as I have no future need for it? Thanks!

best credit card to increase credit rating? Hi, I've heard about good habits to increase my credit rating. I'm just wondering if there is a specific credit card to have to build good credit - i.e. they frequently report to the credit agencies etc... Is Bank of America or chase freedom any good as these are the only 2 cards I have? Thank you very much for your help.

Increasing Credit Line - Affects Credit Rating? How does increasing credit lines on my credit cards affect my credit rating? * Assuming of course I pay all the balances off clean each month. I should rephrase to, "how does having higher AVAILABLE credit affect my credit?"

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Credit Rating Company Local Office? Do you know if any of the 3 credit rating companies have local offices in New York City where I can go with identification and get a credit report? They use to have in the past. I had tried to call them by phone but is very complicated to get in contact with them. Thank you

Starting with a good credit rating? Okay, I'm 19 and know next to nothing about credit ratings. I have a debit card linked to my bank account, but I've never had a real credit card of any kind. Can anyone tell me the basics, and how I would go about getting a good credit rating? I want to become a homeowner as soon as possible and I know I need a good credit rating. Thanks in advance!(ten points to the best answer!)

credit rating for different countries? Does the credit rating of an individual in one country have any effect on her rating in another?

Credit Rating - debt question? Hey, I have a fairly low credit score as in my younger days I was bad and defulted on a few agreements, some are for ridiculous amount such as £50.00 I was silly, my question is if I get in touch with these lenders and repay the amount, I know it would then show as satisfied on my credit report but would this raise the rating or not? thanks