Q&A: How might one decrease the disadvantages you listed such as higher insurance premiums from using a credit card?
Question by Kamisha C: How might one decrease the disadvantages you listed such as higher insurance premiums from using a credit card?
Best answer:
Answer by Nicole
Using a credit card in itself won’t increase your insurance premiums. In personal home and auto insurance, the company runs an “insurance score” aka your credit score. The better your credit, the better your rate. I’ts a way for the insurance company to find a preferred market, just like them running your MVR. The fewer violations, the better your rate, etc.
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Q&A: Is your personal credit the same as business credit?
Question by Cajun_ Creater: Is your personal credit the same as business credit?
My personal credit is horrible because of a bad marriage, separation and I live on SSI , so it is has been difficult to rebuild my personal credit.
I was wondering if business credit is the same as personal credit? Do they use the same process?
Best answer:
Answer by Robbyz3
The answer is yes and no. Many small business owners use their personal credit to run the business which is wrong. For personal credit you have Transunion, experian, and equifax. The major business credit bureua is called Dunn and Bradstreet. With D&B your business vendors (if they choose) will report and you will build a “credit score” with them. If you establish a business make sure to contact D&B and setup your business credit profile. You can and should run a business solely off of your business credit to protect your personal credit incase something goes wrong with the business (and we all know many new businesses fail) Remember, when you call D&B they are in SALES so they want you to spend as much money as you can. Use them to get information, and if you feel it necessary, purchase some of their products. Good luck.
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Categories: Credit Score Questions Tags: Business, Credit, Personal, same
Will secured credit cards build credit history?
Question by deedee: Will secured credit cards build credit history?
How long would it take if I used this method to build my credit history? Will I be eligible for regular credit cards if after this? Im trying to build my credit up and fast! I have no credit history right now.
Best answer:
Answer by Frank
Yes, they will, if you pay on time. Don’t pay late. Don’t pay late.
And don’t think that using them more will make youre credit better. Your credit report shows the number of times you paid late, the amount you currently owe, and the maximum you ever owed on that account.
If you use the card one month and then pay it off and stick it in a drawer for 11 months, that will look exactly the same one your credit report as if you used the card every month for 12 months and never paid late. So don’t fool yourself into buying more stuff to help your credit, because it won’t make a bit of difference.
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Q&A: Is there a website that can tell me my personal financial status?
Question by .:JuSt A GiRl:.: Is there a website that can tell me my personal financial status?
like how much I’m worth?
also, is there a free website that can help make financial goals and help me gain financial security?
Best answer:
Answer by Net Advisor
There is no website that will tell you how much you are worth. But if you pull your banks statements then subtract your debt, that is pretty close.
There are a lot of websites for planning. Here are a few, there are many.
http://financialplan.about.com/
http://www.cfp.net/
http://www.schwab.com/public/schwab/planning?cmsid=P-979978&lvl1=planning
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Q&A: Who/what entity gets the value of newly printed money when it is transferred to the federal reserve banks?
Question by starshinelady: Who/what entity gets the value of newly printed money when it is transferred to the federal reserve banks?
As most people are aware, the United States does not own the Federal Reserve banking system; private shareholders, (very wealthy individuals,) own those banks. So, when the U.S. decides to “expand” the money supply and prints up a few billion more in cash, then sends this money over to the various federal reserve banks, to whom does the initial value of that money accrue? Think about this! It’s not like the U.S. government “sells” the bills to the federal reserve banks in return for “something” – it just send those bills over and says “here, start distributing this money. So the federal reserve sends it to other banks to make loans, etc. It would appear to me, (but I could be wrong,) that the value of all this money is just “given over” to those persons who own the stock in the federal reserve banks. I really have been wondering about this question for a long time, and it is really puzzling me. What value could the gov’t get out of these transfers of cash? Is it given “credit”?
Best answer:
Answer by Captain_Neon
The issuing of fiat paper money is a way that the federal government gets money without taxation. While the War in Iraq is a factor, the main reason for the higher price in gasoline is because of lack of confidence in the US dollar in the global market. The issuing of paper money is directly equivalent to inflation.
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How many points are taken off your credit score when a credit check is done?
Question by bendavis19792003: How many points are taken off your credit score when a credit check is done?
Best answer:
Answer by housemouseref
It depends on what type of company pulled your credit. Example, if you are shopping for a car loan, supposedly, you have up to 5 credit pulls within a 30 day time frame during which your score will not drop. It also depends on how solid your credit score is to begin with. If you have great credit with no lates, it probably won’t pull the score down. What type of credit are you shopping for?
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Q&A: Is Black Mastercard the Boss of all credit cards?
Question by nightfire4107: Is Black Mastercard the Boss of all credit cards?
I heard people who have a Black Mastercard is rich and is for rich people?
Best answer:
Answer by Brad G
You might be thinking about the Black American Express card. The card is actually metal. It’s quite heavy for a credit card. I think it has an unlimited spending limit, but I’m not exactly sure. But I am a bartender and I’ve swiped quite a few of them. Most of the people that I’ve seen that have had them were doctors and stuff, so yes usually anyone that would have one are definitely well off. Here are a few quotes from a website.
“The Black American Express credit card is actually referred to as the “Centurion Card”, and is offered by invitation only, usually to celebrities and business tycoons and the like.”
“It also costs $ 5,000 to enroll in the Centurion Card program, and supposedly you need to spend a minimum of $ 250,000 within 12 consecutive months to qualify for the program (along with a stellar credit score).”
“There are said to be about 10,000 Centurion credit cardholders worldwide, which begs the question, is an even more exclusive credit card necessary?”
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Categories: Credit Score Questions Tags: Black, Boss, Cards, Credit, Mastercard
Q&A: What is the best way to rebuild your credit?
Question by 1 Rocket: What is the best way to rebuild your credit?
I see those ” I can fix your credit” signs on phone polls and tv ads is it really that easy? What about if you don’t have ten or twenty thousand dollars worth of debt? Between myself and wife there is about six thousand, what do you pay first and what does not need immedate attention?
Best answer:
Answer by party planning, atlanta
If you get a credit card, keep it way below maximum credit line, pay regularly and never go over, then this helps your credit immensely. Also, any line of credit over 300 dollars that you do well with adds points after three months
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Categories: Credit Score Questions Tags: Best, Credit, rebuild
Q&A: How do i get approved for credit?
Question by cherryblossom80555: How do i get approved for credit?
Im trying to build up my credit history but ive tried about 5 credit card and non approved me. i even tried a credit card that says it will approve credit for people with “Fair Credit”. im 18 and ive never had credit or anything under my name and i dont understand why they dont approve me? sure i dont have credit but i dont have bad credit eather. how am i suppose to start building credit if no one approves me? you have to start some where dont you?
I checked my Credit History and just like i thought is says i have 0 Accounts in good standing and 0 accounds in bad standing.
Best answer:
Answer by grierGRIER h
Credit cards are an important means of establishing credit history. Using them responsibly, controlling your spending habits and not misusing them will always help the cause. Here are few things to keep in mind before you apply for a credit card.
It is always better to use a credit card which is issued in your name. The simple reason being, it helps establish credit history for you. Use the correct identity, and get credit card issued for proper name, social security number, and address.
Decide what type of credit card you need and don’t get impulsive about obtaining it. Have patience and compare various offers that suit your choice.
The APR of credit card is a very important point not to be missed by any credit card owner. There are various types of APRs, like the 0 intro APR, regular APR, APR for cash advances, APR for purchases, APR for balance transfer etc. These APR contro what interest you pay on your credit card outstanding balances. Get compelte idea about the APRs that will affect you during your credit card ownership.
If you are getting a reward credit card, make sure you know how the rewards will be redeemed and using the credit card at what locations or merchants will help you get the maximum reward benefits. Another thing to watch out is the limitations to the reward program. Check carefully about what limits the rewards like minimum reward points, blackout dates, redemption locations, choice of airlines etc. If you have bad credit, then apply online at: http://www.credit-card-gallery.com/PrePaid_Card.html
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Categories: Credit Score Questions Tags: approved, Credit
Q&A: Paying off debt to get a better rate for buying a house.?
Question by Ervin: Paying off debt to get a better rate for buying a house.?
I’m currently paying down what I owe on my credit cards. When I receive my tax refund… I plan on paying it off. March of this year I will be debt free. Will that raise my credit score? I’m asking because in a about 1.5 to 2 years I want to buy a house with good credit.
Best answer:
Answer by Toni
Using less than 30% of your available limits is what keeps the scores up.
Ex: $ 1,000 limit – never use more than $ 300 at any time during the month.
That’s why experts will tell you:
Use your card for small things you need like food or gas and pay in full each month.
Make sure you do not close those accounts when you are finished paying them off.
You want to keep payment history, and you want to keep it ongoing.
By paying in full you never pay interest and can get those top scores.
A years worth of paying in full each month should get you a pretty good rating.
Enjoy purchasing your new home someday.
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