Why are credit cards not issued to everyone?
Question:
Answer:
its a loan. its money they are giving you. if they think you are too childish,don't have the lolly too pay it posterior, or cant handle it, they are not going to make available it to you. why would they just confer money away?
because they can't handle them, they would run them up, they enjoy really bad credit and "charge-offs" cost everyone money OR they are below 18 and can't sign a legal contract.
It also have to do with credit ratings
because they dont hold the credit history to back up they deserve one. lots of ancestors use them but dont pay their bills.
Not everyone have a job.To compensate for the expenses
Because some people do not reward their bills. Would you loan your money to someone if you knew that you would never attain it back.
because everyone is not responsible next to credit
Credit cards are not issued to everyone because their credit may be bad. People short a job can't seize a credit card either. I speak only use your credit card incase of an emergency. Pay for doesn`t matter what you buy either through your dune debit card, or with brass. If you don't have the money, don't buy it.
Because not adjectives people can toy with them. Why should a credit card company give a credit card to an individual beside no or a bad credit history. Why provide on to a person who have no job,or have filed collapse? It makes no sense for a company to want to lose money.
People getting credit cards own credit worthiness, character to want to repay, and the dimensions to repay.
What percentage of folks that use brass credit stores enjoy a Experian credit mark below 520?
Question:
I am doing a research paper on peer to peer lend and am trying to figure out the affects of peer to peer lend on cash finance stores mainly serving family with desperate credit.
520 is the minimum credit requirement for placing a loan on prosper ( a peer-to-peer lending site)
Answer:
Probably a majority of nation who go to Cash Advance Stores hold horrible credit or are not financially sound. It is going to be difficult to integer out a percentage or even a ballpark though. Why would someone go and pay envelope those outrageous interest rates if they could go to a guard and get a traditional loan or buget their money better and not carry into that situation?
Does anyone know where on earth I can find a place that will tender me a loan next to no credit?
Question:
Answer:
Screw finance companies.
Find a local credit grouping. This is why they exist.
You may have to start stale with a secured loan, possibly even a secured credit card whereby you give them $1000 dollars into a money account and they provide you a $1000 line of credit.
Credit union will charge maybe partly the interest of a finance company.
find a nouns company in your nouns the interest may be a little large but it will help you start building your credit. of late start with small loans and work up from in attendance
got mine from NHBS, Inc
they own good consumer loans program plus credit program, I am a total mess when it comes to finances so I commonly seek assisatnce from them
hope you too will find the right assistance for you
Have a great sunshine
There may be something of use here.
Lots of options here.
http://loan.divinfo.com/
jump to http://www.hotloansources.com they offer huge sources for adjectives types of loans even with impossible credit, and advices provided to you FREE
Yes.
Here are many compnies offering unpromising credit loans. No matter how poor/bad is your credit you can apply for loan,
http://badcreditsloans.blogspot.com/...
i hold greatly doomed to failure poor credit..is in that any agency i can procure a credit card right away and what is the website?
Question:
Answer:
You can go to your wall and get a protection credit card. You have to confer up the money first though. You give them the money up front and afterwards when you use the credit card you pay subsidise. Call the bank for more info.
yeah a prepaid credit card
www.orchardbank.com, they will hook u up definite quick
You can return with a secured credit card, which kind of operate like a debit card really. Just run to any of the bank websites and force out their credit cards and look for the secured card options. Hope this help.
Go to Wal-Mart and get a pre-paid credit card that will probably be your just hope, unless you can get a secured credit card substance you deposit the amount that you want for your credit limit near them and they give you an information for that amount of money.
Watch the prepaid cards like a hawk! They adjectives have a great deal of fees and limitations - and they have the added bonus (NOT!) that they do NOT affect your credit rating! So you will NOT reform your credit using them
Secured cards are good. I used Home Trust Visa years ago. Go to their web-site, download the application. Not "quick", but once set up it DOES find reported on your "credit report"! :)
got mine from NHBS, Inc
p.s. I am a total mess when it comes to credit so i am too lucky they help me out
The only card you can win with poor credit is a secured card.
Here is some new info. Hope this helps.
Yes. You can apply for Bad Credit Credit Cards. This type of cards are offerd to peoples have low/bad credit. Here is a list of credit card compnies offering such service. Check adjectives them. You can apply online also,
http://bad-credit-credit-card.blogspot.c...
A secured credit card for bad credit is worthy. Must put on alert, the rates are crazy, but c'est la vie! The network resources are various. Yoi\u can study something from this page http://www.ezpreapproval.com/secured-cre... as in attendance are some decent articles.
free endorsed counsel?
Question:
About a year ago, I opened a collective bank sketch and the co-applicant deposited a payroll check. Assuming the check was pious, bills were sent out, but simply to find out that the employer of the coapplicant couldn't support the amount nor payroll for a hand full of other workers. Several over draft fee's were applied to my sketch. So being the cranium of the account, I be then rightfully responsible for the amount of the co-applicants payroll check, in addtion to several over draft fees. I hold tried, but cannot open an checking narrative with bank without comfermation that the co-applicant have assumed responsability, as he has claimed to hold. He has also stress that the employer be addressed within court and that she was found not responsible for paying it put a bet on or redepositing it."so he says"and issue has not be resolved. I would rather pay cheque a lawyer a , hopefully smaller amount, earlier taking responability.Should i go ahead and start to spawn payments or waite for a lawyer?
Answer:
NO do not capture attorney! You can take this to court yourself! SIMPLE jump to the court house and it might cost you 20.00 for the file form! see the decide and have him stamp approval for ya
DO NOT procure all stressed
The problem you are have with the bank will not go away if you remuneration this amount.
Banks will check your bank explanation history against a company like Checkfax past opening the explanation. If negative information is present, you will be disqualified from opening an statement. This will occur even if the description is paid sour.
The good report is that there are some bank that give "second chances" to society with this on this specific transcription. US Bank is one of them, which is national. Also Mercantile Bank of Florida will do it, as well as Carolina First, contained by the Carolinas.
You can simply call a couple of local bank and see which will allow you to have a narrative, but still open an narrative. If you find one and they still won't do it, you can see what other kinds of problems are hurting you.
Oh, yes. As the primary, you are responsible for the charges. It sounds similar to you could sue the company that bounced the checks, but it doesn't sound close to they would even have the money to discharge you back if you won. It does not nouns like you could sue the sandbank.
You should seek the proposal from an attorney. Depending on your income, you may qualify for free legal services. Check your phone book for a permitted services agency in your city/town. If you do not qualify for free endorsed services, most lawyers will pass you a free consultation which is probably all you would want to help you resolve your issue. Good luck.
For early free answer try this website-
www.lawguru.com. You can post a question for free and take up to four lawyer answers by email.
They be a big help to me.
is american express a correct card to own?
Question:
i've got a visa and mc, but want to know what amex can do that those can't..
Answer:
American Express is permitted in purely about every store and restaurant. Not adjectives restaurants take MasterCard and Visa. You can achieve traveler's checks at American Express offices and endowment cards also. AmEx is the only focal credit card I keep in a minute. I paid the rest of my credit cards stale and closed the accounts.
Honestly... It depends. Do you typically carry a harmonize on your cards? If so, then Amex is not a apposite match, because I've be told you get penalize for not paying your balance to zilch every month. If you don't usually use your cards for anything but something big that you pay rotten quickly, I'd voice go for it.
AMEX have high to no ceiling but bills are supposed to be paid within full every month or your intrest rate will skyrocket!
hell no.only if you enjoy a ton of money to begin near..you have to discharge in full every monthdont do it.im recounting you...you ll be screwed
If you have money to rotate, use AMEX as they contribute you cool set of features, esp. in NYC and LA, right from restaurants priority booking, concert tickets within Broadway, cruise deals...
BUT BUT BUT, if you are not competent to pay it within full every month, your APR will touch the sky... and you will be paying for ever...
It depends on how well you do near them. The orginal green ones have to enjoy the total balance rewarded the follow month a charge(s) are place on them. The new blue one are similar to regular cards that cah hold a recurring monthly stability. So I ask again, how well are you near credit cards.
I found a wide choice here.
Best one.
Here is enumerate of credit card compnies offering zero joining fees and nought annual fees. Check there offer and select which one is best for you,
http://creditscards.blogspot.com/...
bk and credit score?
Question:
I apply for a credit card from some of the dept. stores and I'm alway denial do to a bk I did 6 years ago, how long will they hold this against me, I know the bk stays on your credit for 10 years, but will it be 10 before I can bring a store credit card, and how much does a bk and inquires lower your credit score?
Answer:
Some those get credit 1 yr out of BK, you only just have to know where on earth to look. You need to partner near companies that will REPORT to all 3 credit bureaus, but won't verbs your credit file (and hold it against you). This opening you can build up positive trade lines which will help you qualify (in time) for a valid credit card.
First, look up Crown Jewelers on the internet. They usually offer a $1,500 credit dash as long as you buy a small item. No credit check and they report to all 3 credit bureaus. This is high-status because you need devout trade lines. Second, open a secured credit card. Try New Millenium Bank. Again, no credit check and they report to adjectives 3 bureaus. Remember, revolving debt is highly weighted contained by FICO scoring and this will help your evaluation. Keep your balances low, payment those two on time and you will be on your course to better credit.
. go to www.annualcreditreport.com and grasp ALL 3 credit bureaus. - follow their directions on diputes
2. send a copy of your document of creditors (to ALL 3 bureaus) from your bankruptcy to form sure all of the accounts are updated as included within bankruptcy and that will show a nothing balance and put adjectives of your tradelines at the bottom of your bureau.
3. you cannot make your ruin go away for 10 yrs, but after two years you should be capable of get conventional interest rates.
4. AFTER you own updated your credit files - Utilize your local credit union and money all your bills on the dot. Derog credit after a BK will hurt your score feebly especially if it is a credit card
With years in the credit business:
6 years? It sounds resembling you have other current credit issues that are cause you problems.
How frequently are you requesting this credit will make a difference, as capably as your total outstanding debt.
Also, if you are applying for credit from a company that already took a loss on you the first BK, this may be causing you problems.
I would recommend seeing a mortgage broker and chitchat to them about credit. They'll want to facilitate you finance a house, but will afford you invaluable (free) information on what you can do to improve. You hold asked a very complicated grill that should be answered after an expert looks at your credit directly.
I recommend a mortgage person because they don't win paid on getting you into a credit repair or counseling program. They'll simply make available you the advice required to get your score up (because they want to qualify you to buy a home)!
Best of Luck!
HELP! Debt collectors are trying to construct me foot for mobile phone service I never have!?
Question:
At the beginning of this year(2006), I be contacted by a debt collection agency, telling me that I owed them $92 for headset service in 2003. I wrote to them and explained that I never own had a home phone within my name ever surrounded by my life. They sent me a copy of bill statements that have my name and address from that time. I guess the phone be set up on May 8th and I moved from that address on May 30. They sent bill statements from May to August. These statements showed no activity - no call were ever made form this dash. Also I think the first statement be sent out after I'd already moved from the apartment, so I never knew anything going on for this phone bill, never received any statements. I never signed up for this service, no one ever come by my house to set it up, they have no transcription of me ordering the service, all the same the bill collectors refuse to work next to me in any agency to resolve this. They're also making negative results on my credit. Please help if you hold any idea how!
Answer:
Collection agencies do not caution. They have enter into a contract - one that allows them to make money. They will NOT travel away unless one of 2 things happens:
#1 - you money the money
#2 - you resolve the issue with the company you owe the money to -AND- that company call the colleciton agent and tells them to grasp off your stern. And even then, a great deal of collection agents will try to "double dip" by intimidating you into paying them anyways!
Your first step is to contact the phone company and work out the dispute with them. Unless and until THEY acknowledge that you do NOT owe them the money, after you will have no pry against the collection agent.
Once the phone company accept that you owe them nothing (IN WRITING) later you can point out to them that they made a MISTAKE in sicking a collection agant on you - and relay them to get the colleciton agent sour your back.
Good luck.
Contact the consumer affairs division of your local DA. This might be identity raid, or just a core screwup by the phone company.
If you had some type of service activate then you would hold had to sign somewhere to grasp the service turned on. Ask them to show you where you signed stating that you considered necessary there service. If they can not show you any profe that you signed somewhere to busy the phone service then you cannot be charged
MAKE SURE YOU WRITE DOWN EVERY NAME OF EVERYONE YOU TALK TO!! Use Yahoo to verbs up the Fair Credit Reporting Act and review it. Even if the agency has a toll free number, phone call them on your cellphone or someone else's cellphone for future history in luggage they say you never call. Contact the collection agency directly and let them know you're contacting the Attorney General within your state and theirs. When you contact the collection agency, demand to see any and adjectives signed contracts with your cross on it requesting the service, approving the service and/or signed after the service was completed. Also emergency to know the method they claimed you paid for the installation services. Since the installer would not adopt cash, the phone company would own to have some form of diary on how it was remunerated. Tell the collection company that you keep you accounts for 7 years (for audit purposes...the IRS can demand as far vertebrae as 7 years) so you need to know how this be paid for so you could look through your dune statements.
Call your state Attorney General and theirs as well as write dispute junk mail to the credit bureaus. Explain that you never ordered the service, there is no history of your ordering service, no copy of you paying for any service installation at the phone company and no one can produce any signed documents stating that you ordered or approved of any service after it be "installed".
What type of attorney do I have need of?
Question:
My son three years ago was surrounded by a motorcycle accident that not here him a quad. Today a collection agency took his handicapped accessible car from our driveway because of a bill still owed from his coincidence . I am a single parent who has be responsible for my son since his accident because he didn't hold the right kind of insurance at the time of his disaster. My son is 32 yrs old and recevies merely ssi from his accident. I work a full time duty and unable to run my son to the dr, therapy, etc..as I am the biggest breadwinner in our household. The collection agency have refused any type of salary plan as has the company that i owe the bill to.
I don't know what todo- can anyone insist on?
Answer:
You could contact the salvation army and see if they could assist you surrounded by getting this vehicle back or providing another. They hold tonsof resources available as does United Way and others.
You can post a question to this regulation webite (for free) and get up to 4 responses from attorneys surrounded by your area- go to www.lawguru.com
So sorry to hear this is arranged, and so close to Christmas too.
You owe? If it was him I would read aloud file for ruin. There are on a different note organization that will help surrounded by this regard and give a hand find funds for basic wishes. a car and such. But lone if he embraces it. which wrecking a motorcycle doesn't head me to believe that he would be all for this mentally. But again they would probably be capable of provide legal aid and such.
I would post a unmarked question near the heading:
Need help finding vehicle for disabled son.
I don't know who you could sue in this instance, as it sounds similar to you owed on the car. However, if I be to suggest an attorney, I would look for one that specializes in insurance. I would first breed absolutely lasting your son's insurance did not cover the accident. I simply would verify what they told you - possibly take the policy to another insurance agent to review save an attorney.
I imgaine there are heaps, many services available that could give a hand you in your situation, and i.e. why I recommend posting a new ask. You won't get equal people who look at this cross-question look at the other.
My financial situation is a world class train wreck. How can I capture the IRS sour my backside and repair my credit?
Question:
Answer:
Talk to a credit counselor first - there may be other option for you.
file for collapse
If its that much a disaster, file for liquidation.
Contact the IRS and be honest with them. Ask them to work beside you. AND file liquidation.
If you file for ruin, you can dismiss most of your IRS debt. Most likely you'll entail to pay adjectives your taxes due for the past three years.
Try an "grant in compromise" next to the IRS. If that doesnt' work, see a bankruptcy attorney.
Good Luck.
Good lawd.
First, in that are new requirements to report for bankruptcy which be enforced for filings after October 1, 2005.
For your case to EVEN BE HEARD, you must own filed the later three years of your federal taxes. If you ain't filed, your bag will not be adjudicated.
Second, if you aim relief from the IRS, it won't come from ruin. If you haven't filed your taxes, afterwards you can't declare ruin.
Further, if you owe from the tax filings mentioned above, later the tax necessity WILL NOT be dismissed by filing for collapse.
Think about it, everybody would be file bankruptcy if they owed goo-gobs of federal taxes!
If you wish relief from the establishment (a.k.a "Da Man"), you can forget about liquidation being the "buffer". Bankruptcy is designed to grasp the private sector peoples off of your stern NOT "Da Man"!
With the limited "hand" you own in this awful hobby of poker, your last move is to NEGOTIATE next to the savvy and ruthlessness of Donald Trump.
Which one of the following phrases is not of the exact wording of the personal rights guaranteed to Candians?
Question:
under Section 7 of the Chapter of Rights and Freedoms?
A-Life
B-The pursuit of great pleasure
C-Liberty
D-Security of person
Answer:
B. The pursuit of security is from the Declaration of Independence. And by the way, it's not the Chapter of Rights and Freedoms, it's CHARTER of Rights and Freedoms.
On a side information, this probably should not have be posted in Business and Finance.
Which one of the following is a formal discovery procedure?
Question:
A-An affidavit
B-A deposition
C-An interview
D-An unsworn statement
Answer:
B deposition
Why does error report come up everytime i try to regulation pool rooms,it closes out everything,enjoy to start over
Question:
every time i change pool rooms ,error report comes up ,its be doing that for a few months now,every time,it closes site,hold to start over ,each and every time,its getting tireing,can u fix it
Answer:
Wrong unit.
what do i do to grasp prepaid credit card.?
Question:
do i just ask them i want to apply for one and how much is it?walgreens
Answer:
If you own poor credit expect to pay a correct amount in fees. Make sure you find one that will in actuality report when you make payments.
If your credit narrative is poor and cannot get a ordinary credit card, then a prepaid credit card is your best bet.
Though prepaid credit cards are agreed at any regular retailer that carries the credit card logo, they are not a ‘credit’ card within the normal expressions, since the issuer does not extend you any credit facility. Instead your spending limit depends on the amount of money you convey on the credit card at any point of time.
Hi,
Try to go on this pattern site: http://www.gotoinfolink.com
They have a sector for prepaid credit card.
Hope that help ;-)
Jeff
Will canceling a credit card i own be fruitless?
Question:
i have 2 credit cards, the intro apr is roughly up. i owe no balance on them, can i abolish them and reapply for new credit cards beside no apr for the first year with nought bad up? like to my credit or so, i enjoy outstanding credit also.
Answer:
Apparently it is bad. But have to many accounts open out is also bad and so you cease up with a be a foil for. What you might want to do is cancel one and see how it affects your credit chalk up, then apply for another one and see how it affects it again. If its fitting then progress for it but I wouldnt recommend it.
nope sure wouldn't
no
canceling credit cards is ok but the more you apply for credit cards can hurt your credit score especially if you're ever denied.
Obliterate them. And free your soul.
those do that all the time
but best to hold on to them for emergencies
what if u receive declined after u put an end to
nope canceling them is a good point. it's always a apt idea to draw from cards with low interest and low fines.
No, you can terminate whenever you want as long as you owe them nothing. They can't ding you for canceling a card. They can just lower your rating if you don't pay them what you owe or if you allege bankruptcy. Just monitor out for hidden untimely termination fees!
You can cancel them anytime as long as you don't own an outstanding balance on them.
I would simply cut up the cards and the account numbers so you don't use them and permit just be off them on a zero match.
Credit cards are bad, a moment ago save your money and foot cash!
No, have to much available balance can hurt, but it is also accurate to have at least possible one card. You have to find your stability of debt to income ratio and avail credit to make you attractive for vehicle loans etc.
No. Cancel all except one. You may involve a credit card for an emergency.
Cancelling old cards wouldn't necessarily be bleak.. but taking out new credit cards will in fact lower your credit score fora short time.
If you're not running a monthly balance- the APR doesn't affect you. If here is no annual fee, next just maintain them (as the longer you have them the more they relieve establish your credit rating). If there is an annual tax then in attendance is no excuse- it is really not hard to find cards w/o one.
So, hold them, and pay them bad every month so you don't get charged interest. And freshly keep it up.
Yes, closing a credit card sketch will affect your credit score negatively. I enjoy heard this from several sources including my accountant and my dune when I went to apply for a mortgage.
Good luck!
EDIT - Wow, I am seeing profusely of people dictum you should cancel it, so I checked to be paid sure I wasn't crazy and here is the first hit I came across on G00GLE:
http://www.bankrate.com/brm/news/cc/2006...
Since you enjoy no balance on your cards, why would you want to end them, then draw from another card? The APR will only affect you if you don't wage off the harmonize every month. As long as you pay it past its sell-by date, you won't pay any interest on your card. Every time you apply for credit, your credit history may be artificial, so be aware of that. Just keep the cards you own, and pay past its sell-by date your balances every month (pay them at lowest a week before they're due, to avoid unpunctually charges). Doing that will keep your credit contained by the outstanding range. <*)))><
Sure you can repeal it. Especially if you owe nothing on the card. Call the companies and reverse the cards and ask them to forward you a letter of dissolution. Also, note who u talk to that day. Better for you.
If you don't owe anything on them, and if you pay packet off the together balance every month, afterwards there's nothing to gain by switching cards.
This is one of those take into custody 22's.. There's a such things as having too much credit and have too little. If you have simply 2 cards, I'm betting that you're not at the 'too much credit' limit (this is from someone who have about 23 expand accounts, credit score 785). The denial of closing the account is you lose the long permanent status credit history associated with the information and this will negatively impact your score. The positive of keeping it overt is you can have it as your emergency card.
My philosophy is if, by some horrific haphazard of nature, my world turns upside down (unexpected medical/auto/etc bills), and I inevitability money, I have the credit available to me ..at this point, I plausible will not be worried about trying to uphold my 785 credit score :) ... because I can give an account you the creditors will not give you a second look if you start applying when you're down on your luck! So my suggestion is to use one card for your commonplace expenses, trying to pay it sour every month OR at least making more than minimal pocket money and keeping the second card, BALANCE-FREE, for emergencies simply. That's my two-cents!
Like the13thmonk said, canceling cards can have a cynical impact on your credit.
You would be losing the positive utilization (and history) that you currently have on the cards if you quash them.
If you currently have an outstanding harmonize on other cards, loans etc., it will look as if you are using a higher utilization on the other accounts (other cards, loans, etc.) when you go against the two cards.
If you are not paying a fee on the cards, keep hold of them open.
They will not simply continue to aid you with your current utilization, they will also serve you with utilization when you receive and build charges on new cards.
Many family mistakenly believe that available credit equals debt - it does not !!
I would keep one break open and close the other one..
I agree with reverberate and the 13th Monk. From what you described in your interview, it appears that you're "rate hopping". Well, cancelling your cards and reappyling for others that hold that same rate isn't going to help your exact. Not only closing credit cards hurt your mark by limiting the length of credit history, and your utilization (debt vs. credit limit), but you also hurt your mark when you apply for other cards and open up alien credit.
I dont think so
Hope that assistance:-)
Jeff
If you have no set off. Then NEVER EVER close or cancel your oldest card. This will impact your credit win like you will never believe.
A big driver within your FICO score is down credit and it only counts your oldest OPEN reason. Another big driver is your utilization on your largest open revolving debt. For example:
Your chalk up is actaully better to have a $15000 credit card beside $5000 on it [33% utilization] than to have two $5000 credit cards near $2500 each on them [50% utilization]
A big unenthusiastic impact is recent requests for credit, even if granted, they show signs that you are seeking.
So DO NOT CANCEL a card if it is your oldest active story.