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  • credit history FAQ


    You can start building a credit history as soon as you can have accounts in your own name. All the answers you've received thus far are correct. Something to remember is that credit history takes a long time to build, but not long to destroy. Good


    one of the most common ways to start building credit is by (1st) getting into a bank like Bank of America or Wells Fargo and open a checking account. Once you have a checking account and have some figure like $300+ in it then you can apply for a credit


    I think with over 2 years of credit history with a FICO score of 740, you should get any card you want. Personally, I only have a Sears card and a VISA debit card. I learned long ago that credit cards are an easy way to bankruptcy. Two or three cards


    740 is a decent score; most major credit card companies will at least consider you with a score like that. Some lenders are very concerned with the length of your history; others are less concerned. You'll just have to experiment. Please do use your credit


    you have to develop credit in order to have a credit history, until you have one, you will continue to be denied for credit as you are a credit rick to companies. Start by getting a secured credit card, this means a credit card where you pay about $200.00


    How late?

    They generally don't report you until you are more than 30 days late. They'll just charge you a $39 late fee if it's only a few days or even weeks.

    Recent payment history is one of the strongest contributors to

    credit history news

    Realtors share the 10 top myths about credit scores

    23.02.12

    Since lenders have tightened their loan requirements, there has been much concern about credit. Unfortunately, many borrowers do not have the correct information about how credit scores are evaluated, according to professional credit specialists.

    "Certain facts about credit will affect you and any financial decision you make or are about to make, so it's important to have the correct information," says Julie Macc, a certified credit and identity theft specialist with the Century Law Group.

    Macc notes your credit score is based on the following components: past delinquencies, 35 percent; debt ratio, 30 percent; average age of file, 15 percent; mix of credit, 10 percent; and inquiries, 10 percent. She asked members of the Silicon Valley Association of Realtors to share with their clients the following top myths about these components and how credit scores are evaluated.


    Source: San Jose Mercury News

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