cody4359 Posted March 10, 2011 Share Posted March 10, 2011 ive never had an awesome credit score due to the mindset if i can't afford it cash i can't afford it, so lack of credit history and a booking fee/few tickets going to collection didnt help lol i tried disputing them 2 years ago and they responded so they stayed on. last month i tried again, and they didnt respond within 30 days so BAM there off my record :yes: my score went up 78 points and I'm at a 758 now. anybody worried about their credit score should try disputing the negative things on their report, if the other party can't find the paper work or reply within 30 days they have to dismiss it and your score gets better :clapping: Link to comment Share on other sites More sharing options...
terrawombat Posted March 10, 2011 Share Posted March 10, 2011 My credit score just dropped 12 points because I got a Discover Card. Don't really get it... These tickets you speak of...were they traffic tickets? Parking tickets? Concert tickets? Link to comment Share on other sites More sharing options...
87Warrior Posted March 10, 2011 Share Posted March 10, 2011 I have a slightly better score than my wife, none the less they are both great. She has additional 'store' credit cards in addition to her normal card. We both wanted to ditch the first credit cards we got before we were married and get new cards (still separately) through our bank. You know, for simplicity's sake. I got a letter of denial from the bank within a week. Two weeks later, she got a card in the mail. Curiosity got the best of me so I asked the bank why. I was told my wife has more credit history because of the extra store credit cards and a student loan which is what they want to see. I have had my one credit card for 3 years longer than she has and have paid my tuition in full. Seems backwards to me. :thwak: Link to comment Share on other sites More sharing options...
terrawombat Posted March 10, 2011 Share Posted March 10, 2011 Diversifying your debt is GOOD for your credit score. If you have a credit card, a bank loan and a mortgage and you make the minimum payments on each, your credit score is supposed to improve. Doesn't matter if you are paying out tons of $$ in interest, either. I have three credit cards and a bank ATM card. Two of the three cards currently have a $0 balance - third card has an outstanding balance, but it's a 0% interest card until next March, but I still pay off a sizable portion of it each month (WAY over the minimum payment due). I have no mortgage and no loans on anything, yet my credit score just went down. Why? I dunno. Because I opened a new card? I haven't applied for a new credit card in over 3 years. I know your credit score will take a hit if you apply for too many cards in too short of a time period. Oh well, I'm still low risk. I've heard that after a certain credit score number (around 790 or so), it doesn't really matter and you'll get the same rates as someone with a perfect credit rating - which is another mystery in itself - some people say 830 is perfect, while others claim 850. Link to comment Share on other sites More sharing options...
cody4359 Posted March 10, 2011 Author Share Posted March 10, 2011 i had a traffic tickets that i lost and never bothered to pay, so that was a failure to pay, and the other ticket was more than 30 days late Link to comment Share on other sites More sharing options...
terrawombat Posted March 10, 2011 Share Posted March 10, 2011 i had a traffic tickets that i lost and never bothered to pay, so that was a failure to pay, and the other ticket was more than 30 days late This kind of worries me because I got a ticket from ez-pass because the scanner didn't pick up my receiver. Called them up and tried to pay it, but they had no record of it. Don't want that kind of crap to cause my credit score to take a hit. Link to comment Share on other sites More sharing options...
cody4359 Posted March 10, 2011 Author Share Posted March 10, 2011 they sent you a ticket but had no record of it? thats weird. might be worth looking into a little harder :dunno: i just did that free credit score thing thats not really free, $10 a month or sumthing. looked at my report then disputed the negative things by saying i wasnt ever late, even tho i was. i guess the law is if the people saying u were late can't prove that you were within 30 days they have to remove it from your report. my tickets were hand written, one got wet then froze to my floor so when i picked it up it ripped into a few pieces and it was a bs tickets so i didnt care lol Link to comment Share on other sites More sharing options...
terrawombat Posted March 10, 2011 Share Posted March 10, 2011 It was a 35 cent toll that didn't get registered - maybe they didn't really care? But they went through the trouble of mailing it...to the wrong address so I didn't see it until a few days before it was due hence why I called to get it taken care of ASAP. Otherwise I would have just filled out my ez-pass info and mailed it in. I don't even think I have that ticket anymore... My score went down, but there are no negative remarks - just three alerts (one from each credit bureau) stating that I opened a new credit card account with Discover. Link to comment Share on other sites More sharing options...
cody4359 Posted March 10, 2011 Author Share Posted March 10, 2011 a 35¢ toll, the stamp is 38¢ isnt it lol hard inquires will make you score go down 10-12 points i believe, also depends on how much % of your credit balance you owe- the more you owe the lower your score. when stuff goes to collection the orignal person only gets about 50%, the collection agencey gets the rest. i doubt they would fuss with 35¢ Link to comment Share on other sites More sharing options...
terrawombat Posted March 10, 2011 Share Posted March 10, 2011 I dropped 12 points with the hard inquiry pull from my new credit card. Link to comment Share on other sites More sharing options...
Sir Sam Posted March 10, 2011 Share Posted March 10, 2011 Only thing to make sure about is that it gets cleared with all three credit reporting companies. You can get in a situation where you get it cleared with one, only to have the other two sell that "information" back to the other one and it comes back on yours. Credit, and credit reporting, have to be one of the most unfair consumer practices out there, the fact that a private company holds the keys to "credit" which in todays world is such an important thing, gives me chills. Me? Well I don't have a particularly good credit score, I have 2 credit cards, a mortgage, and student loans. Never been late on any payments, but at least right now in my life I have a large debt/income ratio, which hurts my credit. Back in the mid 90's my parents had to fight the credit man. The home mortgage company they were with sold their mortgage to another company, no big deal, same terms apply, but now a new company will get paid. Well they started paying the new company, but the old company started send collection notices. So basically they were paying their mortgage, but they got all sorts of bad things on their credit report from it. This was also back in the mid 90's when it wasn't so easy to dispute and get things removed, then when they would get stuff cleared with one another one would just sell the info back to the other company, and they would have to repeat the process. Link to comment Share on other sites More sharing options...
tbrand Posted March 10, 2011 Share Posted March 10, 2011 Freecreditreport.com and others are often a subscription-based service, where the report is contingent on buying their product. If you want to see is what's on your credit report, www.annualcreditreport.com is the only legitimate and free resource. The government decided that your credit report is something you should be able to access (hey, they did something right!) You're entitled to one report check per bureau, per year, so I usually try to get a report from Experian around April, from TransUnion around August, and one from Equifax around December. You don't usually get to see your actual score, but if you're current on all your stuff with no BK's or other negatives, upper 600's and higher is a reasonable guess. Link to comment Share on other sites More sharing options...
Sir Sam Posted March 10, 2011 Share Posted March 10, 2011 Freecreditreport.com and others are often a subscription-based service, where the report is contingent on buying their product. If you want to see is what's on your credit report, http://www.annualcreditreport.com is the only legitimate and free resource. The government decided that your credit report is something you should be able to access (hey, they did something right!) You're entitled to one report check per bureau, per year, so I usually try to get a report from Experian around April, from TransUnion around August, and one from Equifax around December. You don't usually get to see your actual score, but if you're current on all your stuff with no BK's or other negatives, upper 600's and higher is a reasonable guess. Ya I do this every now and then, every couple of times I pay the $10 to see my score. Never seen anything bad before, but its worthwhile to check every so often since you can do it free now. Link to comment Share on other sites More sharing options...
terrawombat Posted March 10, 2011 Share Posted March 10, 2011 I've got CreditSecure through my AMEX credit card. I think it's $11.99/month but it doesn't give a whole lot of information - just does a soft pull on your credit. Shows me my score and any recent credit alerts, but won't go too in depth. Link to comment Share on other sites More sharing options...
maddzz1 Posted March 10, 2011 Share Posted March 10, 2011 They will also take points if you apply for a card and get rejected. Before, when my credit was horrible, and a store would offer 10% off if I applied for a CC I would apply knowing I would get rejected to get the 10% off. Then I found out that that affects my credit score and have stopped doing it. Link to comment Share on other sites More sharing options...
fiatslug87 Posted March 11, 2011 Share Posted March 11, 2011 ...some people say 830 is perfect, while others claim 850. It depends on the credit reporting agency, each has their own algorithm for calculating credit scores. The ranges are: Equifax 300-850 Trans Union 360-840 Experian 346-843 :nuts: Link to comment Share on other sites More sharing options...
1tonMJ Posted March 12, 2011 Share Posted March 12, 2011 Credit is a bull$#!& game that I refuse to play. Link to comment Share on other sites More sharing options...
dfreeman616 Posted March 12, 2011 Share Posted March 12, 2011 i'm looking forward to have a big fat 0 for my credit score. i don't borrow money anymore. Link to comment Share on other sites More sharing options...
tbrand Posted March 12, 2011 Share Posted March 12, 2011 Slowly but surely we're getting there. Link to comment Share on other sites More sharing options...
cody4359 Posted March 12, 2011 Author Share Posted March 12, 2011 I'm not for using credit cards or borrowing money, my first and only payment is my home loan. but if there comes a time when money is tight and you need to borrow it, youll probably be wishing you had a decent credit score to ease up the interest. Link to comment Share on other sites More sharing options...
brdhntr Posted March 13, 2011 Share Posted March 13, 2011 i worked in a higher level of the banking system for quite a few years so i have a decent understanding of it. alot of people think that having a 0 balance on a card or credit line is a good thing. not necessarily. some banks and others offering dredit lines look at it entirely differnt. they see that 0 balance as a potential impact. meaning, it may be 0 now, but the limit is there. that means if they give you credit because it appears that you can afford in financially, then you go and max out all you other credit lines to the available limit, you can't pay everything. sometimes having a high limit is bad. you may have 0 or 500 or 1000 balance on a card that has a 10000 limit, but you can still spend up to the 10000. for that reason many credit companies look at it as available balance or limit to rate it rather than a just "good he has a 0 balance". in most cases, it's best to use the card some and pay it offf each billing cycle. that still allows a 0 balance showing, but proves you pay ontime. each company can report a little different and it's wierd what actually get's reported. they don't always report an amount paid monthly, sometimes they just report an available balance, balance owing, and ontime payments. each time you apply for something, you get a ding because it shows you are looking for credit to use, especially if you're denied. remember to that any company offering almost anything financial. a bad check can show. a missed utility payment, phone payment, doctor bill,etc. even a personal loan from someone can be done by fileing a contract or bringing it in the court system. rent can also be reported in many situations as there is a contract to pay a specific amount on a regular schedule. because campanies can report a little differently, and mistakes are made, it is important to view your credit report regularly. the goverment does require you be given 1 credit report from each credit reporting agency a year as previously said so you don't need to pay online. you can alos go to a credit bureau in your area to pull a copy.. just keep in mind that each company that offers credit lines looks at the report a bit different. there is no rule about requireing them to give you credit. it's all up to the company. just an fyi, my credit is totally shot due to medical bills, i have no loans or credit cards.. unless i win the lottery, there is no way i will ever be able to pay the medical bills off. bankrupsty is a great option but the bills continue so filling right now doesn't really make sense. we just use cash. Link to comment Share on other sites More sharing options...
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