It's also amazing the range in scores you can get, on the same day, from the 3 big bureaus.
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It's also amazing the range in scores you can get, on the same day, from the 3 big bureaus.
I might need to get onboard with Credit Karma.Quote:
Originally Posted by OneGuy67
I've used Credit Karma for a while now. One thing to note, Credit Karma doesn't use the FICO model which is far and away the most popular credit scoring model and the one most lenders (over 90%) use. Credit Karma uses VantageScore 3.0. I use it mostly as a monitoring service. Credit Karma is actually really quick about notifying you of new accounts opened in your name or when you have a hard inquiry...often in the same day. It's a pretty handy tool. Most credit cards offer the same service now.
I don't use credit karma because if you aren't paying for a service, you are the product, not the customer. They use your information to tailor ads to you.
I'm married, if I can ignore my wife, I can ignore a few ads..Quote:
Originally Posted by 00tec
Hahaha... good point.Quote:
Originally Posted by hurley842002
Geez, I just spit out my drink!Quote:
Originally Posted by hurley842002
Is Credit Wise a product you pay for?Quote:
Originally Posted by 00tec
It’s not been bad. I log in. I get updates. They say I could practically shoot off my own nuts with materialistic glee if I just get these credit card offers. I decide that’s dumb and log out after checking score.Quote:
Originally Posted by 00tec
Kinda, since I am using their card (Cap One), it is included. I do not get ads. (Well, any more ads than I got from Cap One prior to using the service. I still get junk mail "refi your car" type stuff.)Quote:
Originally Posted by KevDen2005
It uses the same scoring system that Credit Karma uses, the vantage score thingy. According to the simulator, I should get 16ish points from the $2k increase on my Home Depot card I requested earlier.
One thing I found interesting with Citi and Chase.... it started when Citi came out with their double cash card which is (at least it used to be) one of the best for general purchases that aren't in a high reward category on some other card. They approved me but gave me a pretty low limit for our typical spending. I called and requested an increase but I was told I needed to have the card for at least three months before an increase. I then asked them to cancel a seperate Citi card I had with a much higher limit and after a few minutes they came back and increased the double card to match the other, even though I left it open.
With Chase, I had a similar experience (2 card with essentially the same limit). I really wanted to cancel the 2nd card because of yearly fees, and they not only added that credit to my main Chase card, they added another 50% and I still cancled the one with the high fee.
I have an Amex with a yearly fee. Out of curiosity I called them once and asked if I could convert to the No Fee version of the card if I wanted and they said that I could. Keep that option in mind so you don't have to cancel a card.
Question.
If you have a loan account that was charged off and the company that had the loan sent it to a debt collection agency, can they continue to report that as a missed payment every month even though they show it as charged off on my credit report?
It's my understanding that a charge off means they will never get paid for the debt and have written it off.
Seems like a double penalty to me.
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Hmm, I don't think so. That sounds like a question for ChunkyMonkey.
Maybe you should pay the debt? Or atleast offer a settlement.Quote:
Originally Posted by CoGirl303
that still doesnt answer the question.Quote:
Originally Posted by Wulf202
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It is my understanding that any time a company "charges off" a debt they sell it to the debt collection agency. The terms of the initial loan stipulate you can be charged exorbitant fees for missed payments. The collection agency buys the debt with the rights to charge up to and including the original fees declared on the contract for missed/late payments.
We recently got a "Final Notice" from a collection agency for a medical bill for my wife from a place we'd never used. When my wife called the "original" medical establishment she was told the charge was for them reading an EKG but admitted that their records indicated no bill was ever submitted by them in the first place. We're still trying to backtrack to find out how they have any claim as we never used them or any other agency outside of an ER or military care facility. We're bringing our insurance (TriCare) into it as well. Looks to us to be medical billing fraud.
Quote:
Originally Posted by CoGirl303
Short answer: Yes.
http://blog.credit.com/2017/10/my-de...t-mean-120856/
yeah I went from A to C. They can sell the debt, usually for pennies on the dollar. You can probably make an offer of around %10 to the collection agency and settle (get it in writing). If it is legally your debt you should pay the debt you created, or file for a legal bankruptcy, or continue to suffer the consequences.Quote:
Originally Posted by CoGirl303
My HS math teacher used to yell at me for skipping steps... She always said that if you skip steps, people can't follow what you did.Quote:
Originally Posted by Wulf202
Credit is a fickle bee otch...
It can be useful, but if you don't use it enough you get penalized for it more than if you misuse it.
One of my buddies has made some poor financial decisions, and has been working to fix it. He's in a strange spot because he's behind on payments, but not very far, so what do the big CC companies do? Offer him more CC's at horrible interest rates, or up his limit.
Credit can be very useful, or it can be the path to indentured servitude in modern society...
Yes, I'm aware of the second portion if your comment. The debt is being settled Monday. I made arrangements Friday. Waiting on the confirmation email with the signed and dated letter stating once its paid they will no longer continue to report or attempt to collect.Quote:
Originally Posted by Wulf202
This loan was supposed to have been deferred due to hardship 6 months after I graduated college but someone on their end screwed up and its been costing me ever since. Tried countless times to work with them and get my credit back in good standing, have all the documentation and submitted it numerous times, to no avail.
Makes no sense all my other student loans were deferred except for that one. But I settled for 25% of what was owed (they wouldn't take 10%), so piss on them. I was hoping they would take me to court so I could show the Judge all the documentation of the deferral and get it thrown out but no one wanted to go that far for some odd reason. Gee I wonder why? [emoji849][emoji848]
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Here's a new question on this thread. So I have been doing the repairs to credit over this time period and making some huge successes. I challenged a couple items with each credit bureau. Now, one credit bureau has definitely agreed to remove an item that I challenged and I instantly got a 60 point increase. Although my credit score has been increasing with the other bureaus they were all pretty much the same and rising a few points per month. Now I have two bureaus that have nearly the same score with a third bureau that is nearly 60 points higher than the other two. What issues arise from this situation? Will the other bureaus see that and leave me where I am or are they likely to agree with what the first bureau did?
The credit bureaus definitely monitor what the other two are saying about debtors. Trying to decipher why they make decisions is like trying to figure out the cost of a specific airline seat on any given day. There is an algorithm for that. We’ve never seen it and the people who wrote it are all dead so good luck with that.
Keep your score as high as you can get it. Don’t try to micro manage your score. Above 750 and you are facing diminishing returns on your efforts. Everyone can get credit. It’s just about the interest rate you can get from lenders.
No issues.
It may be you looked at it when one moved your score and the others just hadn't updated yet. Also one will almost always be higher, they don't all grade on the same scale. The max points vary between bureaus.
I have seen that they all vary from bureau to bureau but they have all been within 15 to 20 points of each other, not a range of 60 points. My thought is that it somehow hurts me. I don't know how, but what I have learned about credit thinking, "this will certainly be good for my credit when I pay this bill" and for some reason it isn't. So I'm sure it's gonna screw me somehow.Quote:
Originally Posted by Wulf202
It shouldn't hurt you any more than if all three scores were equal to your lowest score. I have all different scores, and part of that reason is because at least one of the reporting agencies doesn't show about half of my cards, so my credit history doesn't look the same depending on which agency I'm viewing. Sounds like you've been making good progress though. Have you increased limits here and there as a part of your effort?
I haven't increased limits only because I thought they may do a credit check and was worried that would lower my score. When I first posted about this I needed every point for sure. Now I've made significant progress but I still was worried about lowering if they checked my credit.
I don't believe that requesting a higher limit counts as a hard inquiry. Remember that doubling your available credit helps your debt:available credit ratio way faster than making payments of any amount.
My Cap1 and Home Depot do not do hard pulls when requesting increases.
I recently requested a credit increase in my Chase card and they said it was a hard inquiry. They also instantly approved me for a $2,000 increase. I told them that was nice but I wish they would have talked to me first since I was looking for much more of an increase than that. She said I could apply for my requested amount, but it'd be a separate hard inquiry so I'd have two back to back. That pissed me off. I called my other credit card and asked up front to double the limit and they applied for me. The next day they called back with a counter approval that was pretty much the same as the first, but at least explained that the reason was that they don't like to go past double your monthly income (based on what you tell them with no verification). I was fine with at least having an explanation. Use your household income of you want higher limits I guess.Quote:
Originally Posted by Irving
None of this is relevant as I only came here to post this article that says that I've you get over 750, going higher doesn't really do anything for you. Someone may have already mentioned that in this thread.
https://www.usatoday.com/story/money...te/1577225002/
Furious right now.
Bought a different truck 24 August of this year. Payment date for the old loan was set up for the 28th of the month.
Always paid on time and paid extra towards principal.
I did not pay the August payment due to trading it in.
The dealer I bought the new truck from dicked around for a month before paying off the loan on September 24th, have the letter from the finance company Stating the account is paid in full.
I get a notice today from my credit watch that a late payment was recorded on my old loan.
I will dispute it but anybody got any additional ideas?
Buy the dealer a cocktail, of the Molotov variety ?
Helpful Bob but won't help the credit report.Quote:
Originally Posted by SideShow Bob
I suspect that even if ownership was transfered prior to the due date of your payment, legally you are still considered responsible for the punctuality of payment as the financial agreement was with you & not the dealership.
Unfortunately the dealership jerked you & you're left with selling the symantec gymnastics of it. They need to own the transfer date in a letter at minimum so that even if you can resolve it on the official record, you have a tangible document to support your position for the 'unofficial' consideration that may come up after this.
Ive never traded in a vehicle so I have no idea what the paperwork says about assuming responsibility for the remaining debt & the liabilities they did or did not assume.
Geez what a hassle. My sympathy.
Quote:
Originally Posted by ChickNorris
There is a legally binding document showing the date the receiving dealer accepted the trade in vehicle.
It is called a Bill of Sale.
Account shows paid in full and I was even sent a refund check from the lender for overpayment.
Anyway I have disputed it and provided documentation to the Credit Bureau showing that payment was current at trade in and a copy of the Bill of Sale showing trade in date.
The real bitch is the loan on the new vehicle is carried by the same lender with a date of effect of 8-24-18, the new loan was already approved and in place when the old vehicle was physically traded in.
Dealer playing fuck-fuck games, they likely didn't pay it off until they sold it.
That's not my problem.
The rub is that it is now your cross to bear, not theirs.Quote:
Originally Posted by BPTactical
Fuckers.