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What are the implications of having either a positive or negative credit history?
Wiki User
∙ 14y ago
go with visa ar you'll get screwed
Wiki User
∙ 14y ago
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How are fico scores determined?
FICO compares all negative and positive data in all of the various different parts of the client's credit report. Taking all of these factors into account, FICO places scores into new credit, payment history, types of credit used, length of credit history, and amounts owned categories for the client.
What are they assessing when calculating your credit score?
good positive account history, public records, lates vs. no lates, hard inquiries, anything considered derogatory is considered negative. FICO use a secret formula to compute your credit score
HOW TO write integers that can be used to represent the situation like a debit of 60?
If you use positive numbers to represent money which you have or are owed (credit), then use negative numbers to represent debits.Remember, though, that sometimes the choice of which of the two is positive is arbitrary and depends on you. If I owe you money, the situation would be represented by a negative number in my accounts but a positive entry in yours.
Which parts of a credit history are most important for the calculation of credit score?
There are many aspects of your credit history that affect your credit score. 35% - Your Payment History - Credit cards, Telephone bills and other utility bills 30% - Amounts You Owe - Outstanding credit amounts in loans and credit cards 15% - Length of Your Credit History 10% - Types of Credit Used 10% - New Credit
How do credit card companies determine their APRs?
apex. prime rate + credit history
How does a car repo affect credit?
It goes on your Credit History as an incomplete pay history and in the comments sections in the Credit History for that bank they will give the reason for the negative history.
What do you have to write in order for the credit breau to put positive credit on your report?
you don't write anything, it is your creditors who report the information weather it be positive or negative.
How are fico scores determined?
FICO compares all negative and positive data in all of the various different parts of the client's credit report. Taking all of these factors into account, FICO places scores into new credit, payment history, types of credit used, length of credit history, and amounts owned categories for the client.
How long do negative things stay on credit history?
7 years
How can you get a zero as your credit score?
Typically, if you see a "zero" or nothing as a credit score it is due to the consumer having no credit or not having any positive credit that would contribute to the scoring system. A consumer can have nothing but negative credit on their report and this would not generate a score. A score is normally generated when the consumer has had a loan and/or credit card history.
Is credit a negative or a positive word?
It depends a bit on the context, but usually it is positive, like in: "giving someone credit for something". Checking someone's credit rating means seeing if he is good for his financial obligations.
What are they assessing when calculating your credit score?
good positive account history, public records, lates vs. no lates, hard inquiries, anything considered derogatory is considered negative. FICO use a secret formula to compute your credit score
How can you make a negative sentence into a positive sentence?
My club doesn't give me credit for the programs I design.
How does a potentially negative item affect your credit score?
The effects of negative credit items depend on the nature of the item (credit card, foreclosure, collection account) as well as the severity of the item (30 day delinquency vs. charge-off). Additionally, the presence of other accounts, both positive and negative, will adjust the impact that a single negative item has on your credit score. One final variable that also affects how a single negative item impacts your score is the overall length of your credit history. A single negative item could cause your score to drop 3 points or 150. It really depends on each situation.
How long does a default notice stay on your credit file?
All negative information stays on your credit file for anywhere from 1-6 years. The credit reference agencies onlyhold information for six years, whether positive or negative.
How long is a credit history visible?
The information on the credit report is available up to seven years, both positive and negative. Some collection agencies though can fulfill your request to remove a negative collection in return for a full payment and a lot of people have done this despite it being illegal. The best that you can do to balance out a negative collection is to improve on other aspects of your report. I found ways to do that here http://www.myfreecreditreportx.com/how-to-improve-your-credit-score-fast
I need to get my first loan, what can I do to to help build credit history?
Building a credit history requires taking out credit to get a history going. Open a no-annual-fee credit card and make sure to charge to it every month. Also, make sure to pay it off in full each month to build a positive credit history.
