fix credit rating

Ryan asked:


I currently have a card (since 2006) with excellent history and want to open a second card (I also have an AMEX that is actually a subaccount of my fathers for which he is liable for)….How will this affect my credit rating.

Zachary

Gianna asked:


Sorry, I don’t get this at all. Why do some prospective employers check out your credit rating before they decide to hire you? What does your credit rating have to do with whether or not you will be a good employee?

Alicia

gds_ny2003 asked:


I’m looking to repair my poor credit rating. I owe 10k+ to various creditors. I’m married, we both have a decent paying jobs. My spouse has credit problems as well. Here are my concerns:
1. Are there any immediate steps that I should take to get started?

2. What is considered a “good” score to have when buying a house?

3. What short term steps (6 months to 1 year period) can I take to bring my rating up to a “moderate” level?

4. What long-term steps can I take to make for the future so that I do not fall back to where I am now?

5. I know that some credit counselling services are predatory in nature, and actually put people into more trouble than they had to begin with. Are there any reputable credit counselling services out there (preferably non-profit)?

Alice

Dr. Butt, CPA asked:


I am the co-signer with my mom when we financed a car from Honda. It lasts for 5 years. I am trying to pay it off in 2 or 3 payments within 1 year to avoid having to pay the high 9% interest rate. By doing this, how will it affect my credit rating? Will I have better credit if I pay it off throughout the 5 years?

Curtis

matt asked:


I have three credit cards but only use one, and pay it off in full every month. I am planning on making a big purchase at Best Buy and can save a lot of money if I open a credit card with the purchase. (I believe like 20% which would be almost $150). I would never use that card again.

Is it bad for my credit rating to have credit cards that I never use?

Esther