I did order my credit report after my application was turned down. So, sometimes, when youve been turned down for a loan, my credit Erie it might not be about your my credit Erie credit rating. But my experience tells me that, sometimes, banks just dont like making exceptions. Actually cancelling old cards has a short-term negative effect on your credit score only if the accounts are older than the average of your credit lines presently my credit Erie reported. In short, a part of your credit score is calculated based on the age of your credit lines and if you cancel your my credit Erie two oldest credit lines your average age will drop, bringing your score my credit Erie down slightly with it. This will correct itself over time, and quite frankly shouldnt be a big deal unless youre looking to apply for my credit Erie credit immediately (in which case apply for your new credit and THEN cancel those cards).
The only other scenario when canceling credit cards my credit Erie has a negative effect is if it significantly increases your credit utilization (lets say you owe $4000 on 5 credit cards which have a total credit limit of $10,000 altogether. credit report and credit score
If you cancel two cards that have $2000 limits and keep that $4000 debt your credit utilization my credit Erie just went from 40% to 60% and your score will drop a bit).
In general, FICO rewards long my credit Erie term stability and responsible use, so govern your actions accordingly. Dont worry too much about your credit score, if youre paying your bills on time, not defaulting on your financial my credit Erie obligations and checking that your credit reports have no errors then your my credit Erie FICO score will likely look after itself. I am currently in the process of repairing my credit history. In my youth i did always make the best choices and I am wondering how long these choices will be haunting me. I my credit Erie had a run in with a collection agency, years ago, and i am wondering how many years before this will disappear? credit card fraud I am currently waiting for my report from Equaifax, so I will be able to understand what is affecting it and my credit Erie such.
So, typically, how many years do things stay on our reports?
Some things like bankruptcy stay a long time 7 years. If you seek help from credit counseling, it remains on your record for 5 years, I believe, but thats 5 years after youve completed your pay-down, so it can be longer than the bankruptcys 7 years overall.
If youre actively rebuilding your credit history, lenders (and Blaine will correct me if I am wrong) will look at your last two-years history very closely, so thats about how long it takes to dust off your my credit Erie history. Angela, the issue with not having a land-line phone is part of how the creditor verifies your identity. When a credit bureau is pulled, sometimes it says the applicants address & phone number do not match the credit bureaus records. A home phone number shows stability and proof of address. With the FI (financial institution) that I work my credit Erie for, usually we ask the applicant to forward proof of id such as a drivers license and a my credit Erie copy of a utility bill showing the current address and applicants name. free credit report government Im suprised, PC Financial instantly rejected you rather than asking for more info.
In todays day & age, cell phones are the only phone for many people. Other reasons that my credit Erie applicants are declined, is debt ratio. A customer can have amazing credit, but if they have already extended themselves to 40% of their gross income in debt pymts including housing, they may not qualify for more.
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