what are the different types of credit ratings?please specify them? i want to know about bank credit ratings . how many types of rating there are? and their detailed report.

Credit ratings how fast? I have a plan to fix my credit score. I got a raise thats VERY SIGNIFICANT. so i have a debt of 5000.00... 4000.00 chase credit card out of 5000.00 limit... 1000.00 capital one and hsbc credit card maxed out... so what i am asking is, IS IT OKY FOR ME TO PAY THE 4000.00 and transfer the 1000.00 debt to the cards so that will be the 10% debt that i should keep current. and I have OPENED a SECURE CREDIT ( where the bank freezes that amount and i pay my own money back) card through my bank of 800.00 balance. and Have been paying my other 3 bills on time. How fast do you think my credit score will rise?

credit card arbitrage and credit ratings. uk only.? If I transfer 3 credit card maximum amounts at 0% for 15 months to my hsbc credit card then move this money into a bank and use it as a deposit for an investment which will mature in a year and then pay all the credit cards back will this badly affect my credit rating. any website phone no i can call to discuss this?

Would overdrafts affect my credit ratings? If my bank account is overdrafted all the time, do i get a bad credit?

Do any banks offer curr current accounts to people with a very poor credit history? Do any banks offer current account facilites to UK customers who have really poor credit ratings. Just basic banking with out any credit, overdrafts or credit cards.

Can UK employers check overseas credit ratings? Applying for a job with a UK bank. I am Irish and had some difficulty with my overdraft awhile ago back home. Can they check this?

Filing Unemployment affect on Taxes and credit rating? If a couple have joint bank account, joint credit cards, files joint taxes and then because of job loss, one of them files for unemployment. Will it affect credit ratings, What happends when they file taxes for the year when filed for unemployment? Will it affect credit history of both or just the person who filed for umemployment? Remember both file taxes together, have joint bank and credit account? Will the other partner be denied credit(or a higher rate) if applying for Car loan next year or home loan in the next 3 to 4 years? Thanks guys!

what type of comanys will check my credit rating ? i have a bad credit rating, bank wont give me any credit cards or anything, just a bank cashcard. Im wondering what type of companys check credit ratings ? I was thinking about joining my local council owned gym, but not too sure if they will check my credit rating.

How will marriage affect my credit score? Do our scores "average" or do we both take the lower score? We're getting married in the near future. We both own homes and work full time, but my income and credit scores are better than his. Should I buy our house before we get married and keep our finances totally separate? Will that protect my excellent credit rating? Or will my rating drop to his level once we're married no matter what? (I live in a marital property state.) What's better, qualifying for a mortgage alone on my income and credit rating, or waiting until we're married with our joint income but a combination of our credit ratings? How do banks approach these situations? Thanks!

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

Can anyone tell me which banks can do credit cards for people with a bad credit rating? I need a credit card for when I go overseas at the end of this year and I was wondering if anyone knew which banks or companies can do credit cards for people with bad credit ratings? And for those who say i souldnt get one dont bother to comment. Thank you :) Australian Sites/ Companies! Cheers

How does marriage affect my credit....? for instance my soon-to-be wife and I both have good credit history. She has a better credit score just do to the fact that she has a longer history of good credit. I have only had my 1st credit card for almost a year now and I have been making timely payments in full and they have already raised my limit once so I am sure my score is fairly good as well. If we both decide to combine our bank accounts and credit cards, etc., what affect will this have on our respective credit ratings?

Can you get a Career Development Loan if you have a really bad credit rating? I assumed they were loaned form the Government but now I find out that they come from High Street Banks. As we couldn't even get a mortgage from the high street banks because of our credit rating how likely are they to let you have a CDL? I'm thinking not very likely and wonder if its even worth bothering to apply. It seems very unfair - the reason people have bad credit ratings is because of (well in our case) drop in income and financial problems and retraining is a way to remedy this (in the hope it enables you to get a better job), so why should people be prevented from retraining by their credit rating? What does the Government have to say about this?

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!)

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!)

Can someone else sign your name to a credit reporting document at a work place, and utilize this info? My old boss signed my name and submitted a credit reporting paper in my work place 8 months after I had started,Since then I had a credit report ran in Dec of this year to rent a home and low and behold from the date he signed that paper to now still, there are all kinds of inquiry from motgage lenders, credit cards, car people etc, can I find out who for sure asked for these credit ratings to be run? I have also been hit with bank fraud since then also.. I can not believe that someone can falsify a document and do this and no one can stop it... Please help

What is the best way to get this resolved? I have not so good credit. However, all I owe is past dr. bills and its roughly $5,000 and I also have 2 credit card bills that were written off which wasnt but $2,000 together. Could I still pay even tho they were written off? I cant get any credit because I have past delinquent account ratings, bank revolving accounts, and delinquent credit ratings. What do these mean? Bank revolving accounts, what is that? Would my credit improve if I start paying these off even tho they are in the past? How long would it take b4 I see a difference in my credit ratings? Could I go to a credit counseling place and get these bills on 1 monthly payment or do they even deal with dr. bills under $10,000? Thanks.

I was refused a mortagage because of R9 on credit file ?I have since paid it in full,& a crdit score of 655 ? Canadian person wanting a mortgage w good paying job. what can i do my credit score is 655 , this qualifies me for a mortagage, but there is a R9 for credit card in past from which i have paid it in full. i have receipts to prove to bank.The banker says to paid of the student loan a little more and than maybe they will consider ? --->how do i get the R9 ratings to R0 or something ? --->what rating is it when the debt was paid in full ?? --->Should the R9 rating be updated to reflect paid in full ?

The Government-Created Subprime Mortgage Meltdown? The Government-Created Subprime Mortgage Meltdown by Thomas J. DiLorenzo by Thomas J. DiLorenzo DIGG THIS The thousands of mortgage defaults and foreclosures in the "subprime" housing market (i.e., mortgage holders with poor credit ratings) is the direct result of thirty years of government policy that has forced banks to make bad loans to un-creditworthy borrowers. The policy in question is the 1977 Community Reinvestment Act (CRA), which compels banks to make loans to low-income borrowers and in what the supporters of the Act call "communities of color" that they might not otherwise make based on purely economic criteria. The original lobbyists for the CRA were the hardcore leftists who supported the Carter administration and were often rewarded for their support with government grants and programs like the CRA that they benefited from. These included various "neighborhood organizations," as they like to call themselves, such as "ACORN" (Association of Community Organizations for Reform Now). These organizations claim that over $1 trillion in CRA loans have been made, although no one seems to know the magnitude with much certainty. A U.S. Senate Banking Committee staffer told me about ten years ago that at least $100 billion in such loans had been made in the first twenty years of the Act. So-called "community groups" like ACORN benefit themselves from the CRA through a process that sounds like legalized extortion. The CRA is enforced by four federal government bureaucracies: the Fed, the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation. The law is set up so that any bank merger, branch expansion, or new branch creation can be postponed or prohibited by any of these four bureaucracies if a CRA "protest" is issued by a "community group." This can cost banks great sums of money, and the "community groups" understand this perfectly well. It is their leverage. They use this leverage to get the banks to give them millions of dollars as well as promising to make a certain amount of bad loans in their communities. A man named Bruce Marks became quite notorious during the last decade for pressuring banks to earmark literally billions of dollars to his organization, the "Neighborhood Assistance Corporation of America." He once boasted to the New York Times that he had "won" loan commitments totaling $3.8 billion from Bank of America, First Union Corporation, and the Fleet Financial Group. And that is just one "community group" operating in one city – Boston. Banks have been placed in a Catch 22 situation by the CRA: If they comply, they know they will have to suffer from more loan defaults. If they don’t comply, they face financial penalties and, worse yet, their business plans for mergers, branch expansions, etc. can be blocked by CRA protesters, which can cost a large corporation like Bank of America billions of dollars. Like most businesses, they have largely buckled under and have surrendered to their bureaucratic masters. Consequently, banks in every community in America have been forced to hold a portfolio of bad loans, euphemistically referred to as "subprime" loans. In order to compensate themselves for the added risk of extending these loans, many lenders have increased the lending fees associated with mortgage loans. This is simply an indirect way of doing what banks always do – and what they must do to remain solvent: charging effectively higher rates of interest on riskier loans. But this is discriminatory!, complained the "community organizations." Thus, if one browses the ACORN web site, one can read of their boasts of having "predatory lending laws" passed in numerous states which outlaw such fees, prohibiting banks from protecting themselves from the added risk involved in making forced loans to "subprime" borrowers. These are price control laws, and price controls always cause shortages. Normally, banks would respond to such laws by extending fewer riskier loans. But in this case the banks are forced to continue making the marginal loans by their bureaucratic masters at the Fed and the other three federal bureaucracies mentioned above. So-called predatory lending laws therefore force the banks to "eat" the losses. This is undoubtedly a contributing factor to the bankruptcy of dozens of mortgage lenders over the past year. Then of course there is the issue of the Fed’s monetary policy having created the housing bubble, characterized by a spectacular escalation of real estate values in every American city over the past decade or so. This created a further problem for the financial institutions that are victimized by the CRA. They are forced to make a certain amount of bad loans, but because of the Fed-created explosion in housing prices, many thousands of subprime borrowers no longer qualified, by a long stretch, for conventional mortgages based on their incomes. The only way these borrowers could qualify for their mortgage loans (even ignoring their bad credit ratings) was to take out adjustable rate mortgages, some of which had astonishingly low first-year rates in the 3 percent range, and sometimes lower. This is what has largely fueled the subprime mortgage meltdown – the inability of thousands of subprime borrowers to afford their mortgages now that their rates have adjusted upward. Thus, the combination of the Fed’s enforcement of the CRA (with the help of political pressure groups like ACORN) and its post 9/11 monetary policy in general are the reasons for the bursting real estate bubble and the "subprime" mortgage meltdown. Don’t expect to read about this in the "mainstream media," however, which generally views groups like ACORN as heroic champions of the poor, laws like the CRA as anti-discrimination laws, and places all of the blame for the subprime mortgage meltdown on greedy capitalists, especially mortgage brokers. Encouraged by such reporting, the odious Senator Charles Schumer of New York has promised federal legislation that will reign in these miscreants, while the Bush administration is proposing an indirect bank bailout by having the Federal Housing Administration cover many of the bad "subprime" loans. This will create what economists call a "moral hazard" by encouraging even more bad loans to be extended in the future. Every banker in America will be glad to extend loans (at high rates of interest) to the most uncreditworthy borrowers if he thinks there is no possibility of default with the FHA effectively guaranteeing the loan. September 6, 2007 Thomas J. DiLorenzo [send him mail] professor of economics at Loyola College in Maryland and the author of The Real Lincoln: A New Look at Abraham Lincoln, His Agenda, and an Unnecessary War, (Three Rivers Press/Random House). His latest book is Lincoln Unmasked: What You’re Not Supposed To Know about Dishonest Abe (Crown Forum/Random House).

Opening a Joint Account online? I am trying to open a joint account without having to go into a bank for a 45 minute (at least) appoint ment with my husband. He works away during the week and (here in remote-ish Scotland) the banks are shut on Saturdays. I would send in any amount of ID and we both have several other accounts (neither of our banks is helpful enough to accommodate our needs), as well as good credit ratings. Neither of us are anything other than permanent UK residents with jobs - I'd just like a more sensible option if anyone knows of a bank who will accept our business without asking to see both of us? We already exist in the banking/tax etc world so I really can't understand the insistence upon our both being present!

Can I get a Personal Car Loan around $18,000 better than a 14% APR? I am helping out my fiance by hunting down a better interest rate than what her current personal (used) car loan is offering. Can anyone direct me to someone that can beat a 14% APR with the following specifications? - Loan Amount: $18,000 3-5/year. - Annual Income: $43k (at 1 year, 4 months Buyer's Assistant. engineering industry) - Credit score >600 - Currently lives with parents She has had a few dings in credit ratings resulting from funding an unsecured loan for a family member. This is purely to save money by paying off an already existing loan (that is in good standing through her bank and has had higher than minimum payments made on it since origination) and beginning payments on a lower interest loan so that she can have more money to spend on the principle. I'm trying to whip our finances in shape for '08 and just seeing what's out there, I am researching other alternatives like Other banks, Prosper.com, etc. but got turned on to private lending on the net

Car finance... Is there a way out? Two years ago I signed up for a 4 year car finance package, borrowing about £12,000 with Yes Car Credit. It has a huge interest rate and I pay back about £240 per month. I was with my husband at the time, so both our names are on the agreement. I have since split from him but I have the car and make the payments from my bank each month. Basically, I still owe about £6,000 on the car, however it is only worth about £3,000 now. These payments are making my life difficult now I'm single. Is there a way I can get rid of the car and the finance without affecting mine or my ex-husband's credit ratings badly? Another loan is out of the question - I want to get rid of all my credit, not add to it!

bankruptcy uk? if i go bankrupt and owe tax will i be able to keep my van and tools and if when i do and carry on working and making good money will they want it all off me or will it be over,i'm not bothered about credit as my credit ratings been rubbish for years and its not bothered me ,i earn good money but a company that owes me money is not paying me and i fear i am going to be left up sxxt creek without a paddle ,people say that u have no bank account,how do people pay cheques to me so i can live or do i have to die ,is this the punishment for being scum,thanks

Why did the investment bankers think it was profitable idea to securitize bundle bad mortgage loans? First I don't understand why banks would loan money to someone with bad credit or not having the means to repay. Second I don't understand why investment companies like Bears Stearns would repurchase the loans from the banks. Securitize them and sell them as bonds. What are they learning at these prestigious business schools? How to be a licensed crook? The credit rating agencies are seem to be payed by not assigning the proper credit ratings. The country is falling apart because people don't have the discipline to live within there means. Greed is running rampant.

What should I do with my car? PLEASE HELP ME!!!? I recently got a second hand car (Saab 900). I couldn't get a bank loan so I had to go though a finance company with very high interest rate (22%) has I was very desperate at the time for a car I went though with the finance. I’ve been trying to re-finance at other companies but because I have bad credit ratings it’s not possible. at one stage my car stuffed up on me so I brought it to da car dealer I brought it off and they installed a new clutch for me, every since then my car hasn't been the same..... So I brought my car to a Saab specialist and now they have told me that my car is in very bad shape and I need to spend like $5000 on repairs. I don’t know what to do, I have got like $16,000 left to pay and now I have to pay 5 grand just to fix it. Should I keep the car? Or get a new one? Please help me >.<'

Would it be wise for the government to bail out those stupid people that took advantage of sub prime loans? Would it be wise for the government to bail out those stupid people that took advantage of sub prime loans? I believe you are responsible for your own choices and you should pay the price for your decisions Last Friday the U.S. Federal Reserve cut the rate at which it makes direct loans to banks, sending a signal to Wall Street that it is aware of the credit contraction that has hit global financial markets. At the same time, the Fed wisely refrained from lowering its target federal-funds rate, through which it controls monetary policy, although Fed officials have indicated that a cut could be in the offing if markets don’t stabilize soon. The Bush administration has also demonstrated admirable restraint, resisting calls to let troubled mortgage buyers Fannie Mae and Freddie Mac charge into the market and increase their holdings. Demagogic politicians (and frantic investors) have shown less self-control, and the inevitable pressure to “do something” is bound to intensify. The administration and the Fed should resist this pressure. For one thing, the current crisis is unlikely to affect the economy in any significant way. As that becomes clearer, the hysteria will subside. For another, it is necessary that those lenders, borrowers, and investors who created the sub-prime mortgage mess bear its consequences. What we are seeing now is a necessary market correction. Several years of poor lending and borrowing decisions in the sub-prime mortgage market have resulted in a large increase in the number of foreclosures this year. Accordingly, Wall Street is reevaluating the credit quality of billions of dollars worth of mortgage-backed securities. Having found many to be overvalued, the market is making the necessary adjustments: Lenders are making fewer risky loans. Some of the biggest, such as Countrywide Financial, have tapped large lines of credit to cover short-term borrowing needs, announced layoffs, and instituted other cost-cutting measures. A few hedge funds have imploded, and a few more are in deep trouble. This is because these lightly regulated funds typically leverage their bets with billions in borrowed money, compounding their losses when risky investments — such as sub-prime mortgage debt — turn sour. Some of Wall Street’s biggest credit-ratings firms have taken a well-deserved hit in the press for giving many securities backed by sub-prime mortgage debt higher ratings than they actually deserved. The next chapter for them could be investigations into whether they fraudulently manipulated their valuations. Several members of Congress and some ’08 Democratic candidates have argued that these market adjustments are not enough and that we need additional layers of regulation. Back in February, when the crisis began in earnest, John Edwards attacked “predatory” lending practices and proposed a new government agency to regulate mortgage lenders (in addition to the five that already exist). Of course, that was before the Wall Street Journal revealed that a hedge fund Edwards invested in and worked for had ties to sub-prime lenders that had foreclosed on Hurricane Katrina victims. In fact, sub-prime lending is not an unmitigated evil. The advent of sub-prime lending brought about a fairly dramatic increase in U.S. home ownership, which for decades hovered around 64 percent until shooting up to 69 percent between 1994 and 2004. To be sure, unscrupulous players entered the market as sub-prime lending became more profitable, and some of them hid the true cost of risky loans from naïve borrowers. But borrowers were often complicit, wildly overstating their incomes to qualify for loans they could not afford. The New York Times reported in March that these “liar loans accounted for 40 percent of the sub-prime mortgage issuance last year, up from 25 percent in 2001.” Hillary Clinton has proposed a $1 billion federal bailout to help such borrowers avoid foreclosure. And her fellow New York senator, Chuck Schumer, has joined her in calling for a wider role for Fannie Mae and Freddie Mac in stabilizing the mortgage markets. The Bush administration has correctly decided not to remove the limits on Fannie Mae and Freddie Mac that were put into place last year when investigators discovered that both institutions had engaged in significant accounting irregularities. Fannie Mae officials argue that they can provide badly needed liquidity to the mortgage market. But as economist Brian Wesbury pointed out Monday, liquidity is not the real issue. The issue is a lack of information — no one seems to know how much these mortgages are really worth. The best thing the government can do is stay out of the way while the market reprices these securities. That goes for the Fed, too. The Fed has hinted that it might cut the federal-funds rate if the market continues to slide. In the esoteric world of Fed policy, where words can affect the markets as much as action, this was the right thing to say. But it wouldn’t be the right thing to do. Fed chairman Ben Bernanke’s shrewd move to cut the discount rate instead of the more consequential federal-funds rate calmed panicky investors without interfering with the market adjustment already underway. By cutting only the rate that the Fed charges on its own loans, Bernanke offered a lifeline to big institutions in dire financial straits, and bought more time for the market to correct itself without a change in monetary policy. Demagogues in Congress and on the campaign trail should learn a lesson here. Lenders, hedge funds, ratings firms, and, yes, foolhardy borrowers are paying a price for their excesses. Let’s not compound their folly by enacting a poorly thought-out policy.

One more math prob help pls...? Find the indicated probability or percentage for the normally distributed variable. A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. If an applicant is randomly selected, find the probability of a rating that is between 200 and 275.

For a first home loan, should my fiance and I apply jointly, or is one person enough? We are first time home buyers and are starting to research banks for loans. Because I have never done this, I don't know if we should plan on applyng together or if one of us is enough. Our credit ratings are very similiar and both good. What are the advantages/disadvatages to this? What do couples typically do?

More news for you Toush? Get this, International analysts have given a thumbs-down to Lebanon as a credit risk. The sagging ratings reflect the worsening foreign view of Lebanon. Lebanon posted the third-worst decline on the planet in Institutional Investor's semi-annual survey on the creditworthiness of 174 countries. International agencies such as the World Bank, commercial lenders and institutional investors use the rankings as benchmarks in comparing countries, and Lebanon's eroding position mirrors their declining opinion of the situation here. Now tell me if this is a good country to live in or visit or be proud to be linked to it ?? :-)) LOL Hambra, go to http://www.dailystar.com.lb/article.asp?edition_id=1&categ_id=3&article_id=80894 Kate, please do not forget that if western powers and a few Gulf states do not pitch in to help your country, your country will NEVER EVER get on it's feet by itself. Look what the Paris III Donated. Aussie, i say it with Sarcasm, and why not? ;-))