Question by ayoung21921: how much does an account going to collections lower your credit score”?

Best answer:

Answer by sonofstar
It’s not so much that it lowers your credit score. It’s that the next company that checks your credit history will see it. Many companies these days are so touchy, that one black mark will lead to rejection.

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Question by Bryan B: will closing a paid-off credit card account that’s reported a late payment b4 hurt my credit?
I have a retail store credit card. I carry a very small balance on it from time-to-time to take advantage of their no-interest promotions. Well, a year ago I forgot to make a twenty-dollar payment while I was out of town and not getting my mail. My credit was hit and it really hurt my score. The same thing happened this week with the same card. I paid the card off this morning but apparently I am just too retarded to keep track of more than a couple credit cards so I am considering closing the account. But I wonder what’s best… Should I try to “repair” my relationship with them by buying something else and making regular payments, or will that not help me? I have a mortgage and other credit cards (that I carry much larger balances on), and I am never late on them. So is it okay for me to close that retail store credit card account, or should I keep it for a while and try to show them that I’m not an idiot? What’s going to help bring my score back up?

Best answer:

Answer by Dana R
It is much much better to keep the account open with a zero balance than to close the account. Just having the credit helps your debt to high credit ratio and can eventually boost your score even if you don’t use it. It shows that you have credit and are responsible enough to pay it off and not keep a balance. If you have a few accounts that you use every once in a while and pay them off right away that is a good thing. Obviously it’s not good to pay them late at all. But in the end it benefits you more to leave the account open and not use it than to close it. Don’t worry about buying something else with it because that won’t make a difference. Just leave the account as it is. That will help your credit. Good luck!

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Question by ACURA KRAZY: What’s an efficient and effective method to use to get a settled account deleted ?
I settled an account with my orthodontist, & the CA reporting the item, (whom I never dealt with) is refusing to remove it. They want to report the item although $ 0 balance, for the next 6 years to show other creditors I at some point was late. I’m in need of an effective way to remove this without reference to a “credit repair” company – ’nuff funds have been spent already/ lol, Thx.

Best answer:

Answer by ScorpionSDGuy
Credit Repair companies are scams. They do not do anything that you couldn’t do yourself. I would however suggest you go to staples or office depot and buy the CD they sell for credit repair.

You have to dispute the account with all three credit reporting companies. You will have to write them letter’s requesting they remove it, then another one requesting an explanation of how it got there, another letter requesting proof that you were properly notified that this account will negatively impact your credit.

There are over 211 Fair Credit Reporting laws that a company must comply with in order for them to ruin your credit. Guess what? Most companies do not even comply with 50 of them. So you basically have to keep writing letter’s until you find the one law that they didn’t follow exactly and once you do they are obligated to remove the negative mark (this is where the CD from Staples comes in).

Good Luck
Be persistent.

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Question by trekseattle: Is there a “standard” yahoo mail account other than the “family” account that needs a Credit card to acivate?
I tried to get a different email account and once everything was filled out it said “now go get your parents, we need a credit card”

I want another mail account but don’t want to be charged .50 cents on a credit card. And its really not about the money either. Is this the new rules for getting a yahoo email account?

Best answer:

Answer by IWIU
I didn’t have to use a credit card to get my account.

are you sure you were really on the yahoo site, and not a phony site that looks like yahoo

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