Noun
- : Recognition and respect.
- : I give you credit for owning up to your mistake.
- (accounting) An amount added to an account (confer debit.)
- A valuable member.
- : That point guard is a credit to the team.
- (finance) The ability to borrow funds.
Read full definition at wiktionary.org
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- Debits and credits, a type of book keeping entry
- Credit , acknowledging the ideas or other work of writers and contributors
- Course credit, a system of measuring academic coursework
- Credit , the granting of a loan and the creation of debt. It is any form of deferred payment.
- Credit rating, assessment of credit worthiness
- Credit score, a representation of credit worthiness
- Zombie credit is a credit given to a (later) highly leveraged company left to operate in default by lenders Read full entry
This entry is from Wikipedia,the leading user-contributed encyclopedia.It may not have been reviewed by professional editors(See full disclaimer)
- 1.Credit.com
- Offers consumers tips, tool, and deals on loans, mortgages, credit cards, debt management services, and other financial resources.
- http://www.credit.com/
- 2.Credit (finance) - Wikipedia, the free encyclopedia
- Credit is the provision of resources (such as granting a loan) by one party to ... However, many forms of credit can readily act as a medium of exchange. ...
- http://en.wikipedia.org/wiki/C
redit_(finance)
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Credit ?
I am only sixteen, but my dad
says that if I want to buy a
car-- and eventually an
apartment or a house I need to
establish a line of credit.
How do I do this? Whats a good
way to get started?
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my dad said the same thing when I was 17, and he helped me (cosigned) to get a credit card to "establish credit". Now I am 21 and after 4 years of charging crap I'm F*cked. your dad is right you will need to build credit, but I would suggest waiting a little while. Unless you have one of those parents who is going to pay on your card for you just don't bother with it yet. I know you say you will be smarter then me, but I thought the same thing, then your car breaks down and what do you do? or something else comes up where you feel you really need the money, and that's how it all starts. you don't need good credit to rent an apartment. You do if you want to buy a house, you can usually buy a car without credit if you can afford it, but if you don't have any credit they will rape you with interest fees. just wait a couple years, unless you have rich parents. |
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How does someone build credit I am thinking of those who do
not have a credit card and pay
for everything by check and
cash. How is their credit
rated? Is it based on a loan
for example (car, student,
etc.) and what if it is their
first time applying for such a
loan? How is their credit
history looked at then? What
if someone is applying for an
apartment rental and does now
own a credit card?
I have always wondered this.
Also, some people, after
having paid off their debt,
switch to using cash or check
only, but apparently no
activity at all on your credit
card accounts isn't good
either.
Any input?
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Get in the habit of checking your credit report regularly (at least annually). You are entitled to a free credit report from all three credit bureaus once per year, so take advantage of this opportunity. Review your credit report for errors and dispute any erroneous information. Such errors might be unnecessarily dragging down your score. Creditors view these kinds of accounts as a sign of stability and responsibility, so make sure you have one or both of them. Free checking is almost an industry standard, so you can find a good deal if you shop around at different banks. A current checking or savings account will also help you secure a payroll loan. If you do not qualify for a credit card or loan on your own, you might do better with a co-signer with good credit. The best part of having a co-signer is that his/her good credit partially becomes yours. That means you have a great opportunity to boost your score by piggybacking on someone elsels credit for a while. When you cannot qualify for unsecured credit cards, think about starting off with a secured card. Make sure you get a secured card that reports your activity to the credit bureaus so you have a chance to rebuild your credit. The best secured cards turn into unsecured cards with more favorable terms after you demonstrate responsible use and payment behavior for a certain period. A secured card can also be a great alternative to a payroll loan in emergency situations. Keep your balances low and pay them off every month. You want to keep your balance-to-limit ratio as low as possible. |
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How do I switch credit cards I want to get a frequent flyer
credit card but I already have
3 credit cards with generous
limits. I don't need these
credit cards and I would like
to cancel them and have this
"possible credit" to go
towards the new card. I heard
once that canceling a credit
card has a negitive effect on
your credit score. Is this
true? If so, how do I switch
credit cards and avoid
affecting my credit score in a
bad way?
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Yes, it is true. Having active credit cards on your record is no problem. It shows that card issuers are willing to extend credit. If these cards have no balance on them, you should have no trouble getting a new card. Apply and start using it. If there are balances on your other cards, it is a different issue. You should pay them off, or transfer them to the card with the lowest interest rate and pay that off as quickly as possible. Then make sure you never have a balance on a card that exceeds about 30 percent of the credit limit. Paying the monthly charges in full each month is the best policy. It also means not paying any interest. |
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Recent submissions
Name: Rosetta Bullard
How do I get a form to dispute a credit card that I never received? I have been charged with about $500 that I don't know any thing about. I called the company and they said send in a form to dispute my claim. Are you familiar with this form?
Name: Nice2rhyme
i have a bad credit and need to pay some online software and little shopping price that's even less than $150. pls help me out with this and its urgent!
* Indicates a required fieldAdd your knowledge or ask a question:
I am looking for a goverment grant to pay my bills off as my husband and I are disabled and only get 1758.40 a month for both of us we come not even by food or pay some copayments on our prescriptions does anyone know of how to get help? mscolas56@cfl.rr.com or 321-208-7100