I need some advice with credit card?
hsalas asked:
I need advice on which cards to keep and which to close In total I have 7 Credit Cards I know for sure I want to close two of them out but would also like to know if I should do anything to the others
I need advice on which cards to keep and which to close In total I have 7 Credit Cards I know for sure I want to close two of them out but would also like to know if I should do anything to the others
I have the following Cards,
Bank of America Platinum Plus, using $70 of 2,300, opened 06/07
Sears (Blue), using $350 of $1,100, opened 12/07
HSBC, 0 of $300, opened 03/08
Capital One, $100 of $750, opened 03/08
Sears MasterCard, 0 of $1,000, opened 07/08
Target, 0 of $200, opened 09/08
Sam’s Club Personal Credit, $70 of $500, opened 11/08
I also have a student loan out that deferred for $7,000
I plan to close out HSBC ( they wanted to charge $10 for a credit line increase of $100 they also have an annual fee and I think the most they will do is cut it in half) and Target because of their low credit limit and I really don’t shop at Target, just used it to get a 10% discount on some present for my mom. I don’t want to close out sears (blue) because I bought a TV on it and its interest deferred until august (I should have it paid of by april). Capital one is interest free for a year which is about to end, think I could get them to give me a good credit rate?
Do you have any suggestions for me I don’t want to open any more credit cards any time soon.
My credit score is a bit out of whack, credit companies Always report to the credit agencies when I have a high balance with them, which I think is unfair, hopefully I get lucky this upcomming report. Suggestions with that as well would be appreciated. Thank You very much for your suggestion.
P.S. I use Bank of America Privacy Assist to check my credit report it updates every 3 months. I still have money over from my student loan (I was going to use for a down payment on a car) should I use that money to pay off all the debt or should I continue doing it the way I am now, I made a budget off all my credit cards and I should have every thing paid off by february, except the sears card.
NELSON
payment on my credit on yahoo personal?
Kelly T asked:
why yahoo personal charge me on my credit for $44.95 Few months ago, three months done then why yahoo personal keep charge on my visa. I will call the report about yahoo personal. I want yahoo personal stop charge on my credit.
why yahoo personal charge me on my credit for $44.95 Few months ago, three months done then why yahoo personal keep charge on my visa. I will call the report about yahoo personal. I want yahoo personal stop charge on my credit.
thanks,
goldgolfer
ADRIAN
Where can someone with bad credit get a small personal loan?
tegamal asked:
I am in need of $1000 for a new washer/dryer & some other things around the house, but I have bad credit from a while ago due to a miscommunication from a lender. That issue has dropped off my credit report being from over 7 years ago, but my score is still pretty bad.
I am in need of $1000 for a new washer/dryer & some other things around the house, but I have bad credit from a while ago due to a miscommunication from a lender. That issue has dropped off my credit report being from over 7 years ago, but my score is still pretty bad.
I don’t want a payday advance or one of those 90%+ places. I don’t want to go back into debt even more, but I would also like to use this loan as a way to improve my standing.
Thanks in advance!
SOLOMON
When Should You Check Your Credit Report?
John Rasor asked:
are preparing to make a major purchase such as a home or auto loan you should check your credit report. Your credit score is one of the most important factors lenders use in determining whether or not you get a loan. Credit scores also determine what interest rate you will get. The higher the credit score the better off you will be. Nonetheless, if you are planning a major purchase, you should check your credit report and credit scores several months before. Make sure the information revealed in your credit report is accurate. Errors in credit reports can be common and most are simply the result of human mistakes. Data entry clerks processing thousands of payments will sooner or later make an error. Inaccuracies can have an adverse affect on your credit score. These days a score of 620 or better will usually qualify you for credit. Anything less and you may have trouble getting approved. You should also check your credit if you think your personal identity has been compromised. Identity theft is the fastest growing crime in America. This occurs when someone grabs a hold of key information such as social security numbers, bank account numbers, credit cards information and even driver’s license numbers for their own personal gain. It can happen with a lost wallet or stolen purse, pilfered mail, computer virus, dumpster diving, phishing or various other scams. Protect yourself and your identity by shredding key financial documents and keeping your social security number, driver’s license number, bank account numbers and credit cards under lock and key. If you have recently been denied credit you should check your credit report. There’s a good chance you were denied because your credit score wasn’t high enough. Carefully study your credit report line by line and check for mistakes. Identify derogatory items and rectify them as soon as you are able. The government mandated that you are entitled to a copy of your credit report once a year. If you have ever received your report from this portal you will find that it did not come with your credit scores. The credit scores are the single most important part of any credit report. For a fee you can get your credit scores directly from each of the three credit bureaus, Equifax, Experian and Transunion. Be mindful of your creditworthiness and take control of your financial future.
DALE
are preparing to make a major purchase such as a home or auto loan you should check your credit report. Your credit score is one of the most important factors lenders use in determining whether or not you get a loan. Credit scores also determine what interest rate you will get. The higher the credit score the better off you will be. Nonetheless, if you are planning a major purchase, you should check your credit report and credit scores several months before. Make sure the information revealed in your credit report is accurate. Errors in credit reports can be common and most are simply the result of human mistakes. Data entry clerks processing thousands of payments will sooner or later make an error. Inaccuracies can have an adverse affect on your credit score. These days a score of 620 or better will usually qualify you for credit. Anything less and you may have trouble getting approved. You should also check your credit if you think your personal identity has been compromised. Identity theft is the fastest growing crime in America. This occurs when someone grabs a hold of key information such as social security numbers, bank account numbers, credit cards information and even driver’s license numbers for their own personal gain. It can happen with a lost wallet or stolen purse, pilfered mail, computer virus, dumpster diving, phishing or various other scams. Protect yourself and your identity by shredding key financial documents and keeping your social security number, driver’s license number, bank account numbers and credit cards under lock and key. If you have recently been denied credit you should check your credit report. There’s a good chance you were denied because your credit score wasn’t high enough. Carefully study your credit report line by line and check for mistakes. Identify derogatory items and rectify them as soon as you are able. The government mandated that you are entitled to a copy of your credit report once a year. If you have ever received your report from this portal you will find that it did not come with your credit scores. The credit scores are the single most important part of any credit report. For a fee you can get your credit scores directly from each of the three credit bureaus, Equifax, Experian and Transunion. Be mindful of your creditworthiness and take control of your financial future.
DALE
if i settle acct. w/ a collection agency does it show on my credit?
In the Land of the Lost & Found asked:
I spoke to a collection agency. They are saying that I can settle my debt for less than what I owe. It still has not hit my credit report. If I settle will it eventually show? The agent said it wont, but I know they just want to get paid.
Any personal experience w/this?
I asked for it in writting. She said they don’t have a letter format for this.
COURTNEY
I spoke to a collection agency. They are saying that I can settle my debt for less than what I owe. It still has not hit my credit report. If I settle will it eventually show? The agent said it wont, but I know they just want to get paid.
Any personal experience w/this?
I asked for it in writting. She said they don’t have a letter format for this.
COURTNEY
Credit Reporting Agencies Are Not Your Friends
Rayven Perkins asked:
There are multiple credit myths and rumors that surround the realm of credit reporting. Some are urban legend, and have become so widely disseminated that they are taken as gospel; others are deliberately encouraged by lenders to terrorize or cajole debtors into compliance.
The following is a compilation of the most common credit myths concerning your credit file, and the reality that all consumers should be aware of.
Myth: Credit reporting companies are subsidiaries for or working on behalf of the federal government.
This belief is fostered by the fact that creditors make such a big deal about “registering” you as a debtor with a credit reporting agency that the power of the agency itself becomes inflated. In fact, credit reporting companies are nothing more than mega businesses and their true subsidizers are the banks and finance companies.
Myth: If you pay a bad debt, the negative report will automatically be removed from your credit immediately.
This is a tactic used by unethical bill collectors to get you to pay your debt, and 9 times out of 10 it is a flat out lie. You can occasionally make an agreement with a creditor to pay a debt on the condition that it be removed or marked paid as agreed, but this should always be in writing, and they must put in writing that they will contact the credit reporting agency, request the update, and follow through until it is done.
Myth: You have to sign up for a credit monitoring service to get a free credit report.
This one is just ridiculous, and has been picked up by hundreds of companies trying to sell “credit protection” packages. They offer you a free credit report through their website and then sign you up for a monthly automatic charge for an overpriced, basically useless “credit alert” program that you can duplicate simply by taking reasonable precautions. Don’t be fooled. You are entitled by law to a no strings attached, once a year, completely free report from each of the three major credit reporting companies.
Myth: Trying to get stuff removed from your credit report is illegal.
Again, this is just not true. There are illegal and unethical ways to tamper with your report, but many people have incorrect or outdated items on their report and it is perfectly legal to try to have those removed or updated. The steps to accomplish this are easy, and you can do it yourself so don’t waste money on a “credit repair” company that claims it can restore your credit for a huge fee.
Myth: Credit Reporting agencies are required by law to keep negative items on your report for at least seven years.
Actually, the Fair Debt laws state that after 7 years credit reporting companies are required to remove adverse reports - and nowhere does it say that these can’t be taken off earlier. The credit reporting agencies perpetuate this myth themselves so people will not ask them to remove stuff.
Myth: Credit reporting agencies strive to keep accurate reports.
In what alternate universe? Again, a credit reporting agency is not an agent of the government, and has little interest in helping anyone out or motivation to be accurate. They are in business to make money, and they make it from the lenders.
They have a vested interest in reporting whatever the creditors tell them because the creditors pay them to, and they double dip by selling this personal and private (and often inaccurate) information to other lenders and agencies as well. They have no vested interest in removing items, or in helping you at all.
Now that you know what credit myths to watch out for, you can take steps to review your credit and begin to correct any discrepancies. Unfortunately, credit reporting agencies do hold a lot of power over the average American citizen, and it falls to you personally to make sure that you are not being taken advantage of or wrongfully portrayed.
NIGEL
There are multiple credit myths and rumors that surround the realm of credit reporting. Some are urban legend, and have become so widely disseminated that they are taken as gospel; others are deliberately encouraged by lenders to terrorize or cajole debtors into compliance.
The following is a compilation of the most common credit myths concerning your credit file, and the reality that all consumers should be aware of.
Myth: Credit reporting companies are subsidiaries for or working on behalf of the federal government.
This belief is fostered by the fact that creditors make such a big deal about “registering” you as a debtor with a credit reporting agency that the power of the agency itself becomes inflated. In fact, credit reporting companies are nothing more than mega businesses and their true subsidizers are the banks and finance companies.
Myth: If you pay a bad debt, the negative report will automatically be removed from your credit immediately.
This is a tactic used by unethical bill collectors to get you to pay your debt, and 9 times out of 10 it is a flat out lie. You can occasionally make an agreement with a creditor to pay a debt on the condition that it be removed or marked paid as agreed, but this should always be in writing, and they must put in writing that they will contact the credit reporting agency, request the update, and follow through until it is done.
Myth: You have to sign up for a credit monitoring service to get a free credit report.
This one is just ridiculous, and has been picked up by hundreds of companies trying to sell “credit protection” packages. They offer you a free credit report through their website and then sign you up for a monthly automatic charge for an overpriced, basically useless “credit alert” program that you can duplicate simply by taking reasonable precautions. Don’t be fooled. You are entitled by law to a no strings attached, once a year, completely free report from each of the three major credit reporting companies.
Myth: Trying to get stuff removed from your credit report is illegal.
Again, this is just not true. There are illegal and unethical ways to tamper with your report, but many people have incorrect or outdated items on their report and it is perfectly legal to try to have those removed or updated. The steps to accomplish this are easy, and you can do it yourself so don’t waste money on a “credit repair” company that claims it can restore your credit for a huge fee.
Myth: Credit Reporting agencies are required by law to keep negative items on your report for at least seven years.
Actually, the Fair Debt laws state that after 7 years credit reporting companies are required to remove adverse reports - and nowhere does it say that these can’t be taken off earlier. The credit reporting agencies perpetuate this myth themselves so people will not ask them to remove stuff.
Myth: Credit reporting agencies strive to keep accurate reports.
In what alternate universe? Again, a credit reporting agency is not an agent of the government, and has little interest in helping anyone out or motivation to be accurate. They are in business to make money, and they make it from the lenders.
They have a vested interest in reporting whatever the creditors tell them because the creditors pay them to, and they double dip by selling this personal and private (and often inaccurate) information to other lenders and agencies as well. They have no vested interest in removing items, or in helping you at all.
Now that you know what credit myths to watch out for, you can take steps to review your credit and begin to correct any discrepancies. Unfortunately, credit reporting agencies do hold a lot of power over the average American citizen, and it falls to you personally to make sure that you are not being taken advantage of or wrongfully portrayed.
NIGEL
Glitches on Your Credit Report: How to Fix Them Right
David Siegel asked:
s world, having a bad credit report may be detrimental. Even though in most cases consumers have brought this upon themselves, in some cases the bad credit report may be caused by a glitch in the credit bureau system. As up to 25% of credit reports have a substantial error that can affect the consumer in getting credit, housing or a job. Although, some may feel helpless against the unperfected credit bureau system, that is far from the truth.
Every person should order a credit report at least once a year, it is free on annualcreditreport.com. This report should be carefully examined for mistakes and biased information. Once a mistake is found the credit bureau should be contacted through certified mail, explaining the mistake. The creditor that reported the information to the bureau should also be contacted by mail, stating the mistake that was found. The Fair Credit Report Act mandates credit bureau to delete all incorrect information that may be on the report. Therefore once the credit bureau receives your letter disputing the mistake within the report, it will investigate the glitch by contacting the creditor and trying to verify the credit report. If the creditor does not respond in time or if he does not verify the information on the original report then the bureau will delete the erroneous information from the report.
Furthermore, if your credit report displays information that you feel is biased towards you, you can add an explanatory note explaining the situation. For example, if you moved to another address while your bills kept coming to your old address, causing impairment to your credit score, you can add a note to your credit report explaining that situation. Just write a note to the bureau explaining that you would like such a note included on the report. Sometimes an easier route to fixing your credit report is by contacting the creditor that reported the problem to your credit bureau and asking them to clear up the glitch, by contacting the bureau.
No matter which approach you take to fixing your credit report you need to make sure that the mistake has been fixed by getting a subsequent credit report. Remember if the credit report gets a letter notifying them of a glitch, they have to investigate it, and if they can’t verify the original report then they have to delete the information. By taking control of your credit report, you can begin to change your financial picture.
CONRAD
s world, having a bad credit report may be detrimental. Even though in most cases consumers have brought this upon themselves, in some cases the bad credit report may be caused by a glitch in the credit bureau system. As up to 25% of credit reports have a substantial error that can affect the consumer in getting credit, housing or a job. Although, some may feel helpless against the unperfected credit bureau system, that is far from the truth.
Every person should order a credit report at least once a year, it is free on annualcreditreport.com. This report should be carefully examined for mistakes and biased information. Once a mistake is found the credit bureau should be contacted through certified mail, explaining the mistake. The creditor that reported the information to the bureau should also be contacted by mail, stating the mistake that was found. The Fair Credit Report Act mandates credit bureau to delete all incorrect information that may be on the report. Therefore once the credit bureau receives your letter disputing the mistake within the report, it will investigate the glitch by contacting the creditor and trying to verify the credit report. If the creditor does not respond in time or if he does not verify the information on the original report then the bureau will delete the erroneous information from the report.
Furthermore, if your credit report displays information that you feel is biased towards you, you can add an explanatory note explaining the situation. For example, if you moved to another address while your bills kept coming to your old address, causing impairment to your credit score, you can add a note to your credit report explaining that situation. Just write a note to the bureau explaining that you would like such a note included on the report. Sometimes an easier route to fixing your credit report is by contacting the creditor that reported the problem to your credit bureau and asking them to clear up the glitch, by contacting the bureau.
No matter which approach you take to fixing your credit report you need to make sure that the mistake has been fixed by getting a subsequent credit report. Remember if the credit report gets a letter notifying them of a glitch, they have to investigate it, and if they can’t verify the original report then they have to delete the information. By taking control of your credit report, you can begin to change your financial picture.
CONRAD
Finding an Instant Credit Report
Sandra Stammberger asked:
Due to the increasing number of households having an Internet connection, instant credit reports obtained online have risen in popularity and are preferred when compared to the traditional methods of written requests and toll free telephone calls to major reporting agencies. An instant credit report allows a consumer to access their complete credit file within minutes or in some cases seconds with a click of their mouse. This is a vast improvement and is greatly appreciated by the consumer, especially if they are wanting to pursue a loan application and need an instant credit report to assess their chances.
There are currently two ways to obtain your instant credit report online, one is more cost efficient than the other depending on your specific needs. The first is a free annual, or even in some cases biannual, instant credit report. These types of free instant credit reports do not usually contain all three reports or a credit score. The second way is to pay a competitive fee including a three in one report from Equifax, Experian and Trans Union complete with a credit score. Paying for your instant credit report can be a little more complicated, as more choices accompany this option. You can go directly to the credit reporting websites or use a credit service company. With a credit services company, you will usually receive a free one-time instant credit report for agreeing to purchase many others throughout a set period, usually one year. However, with these companies you will not receive the free instant credit report information available at the major reporting agency sites.
Instant credit reports enable you to correct vital mistakes that may affect your financial future by submitting a request for an investigation into discrepancies online. They also allow you to update any or all information that has changed or been misreported since you last viewed the credit report. Even more importantly, an instant credit report can allow you to recognize if you have been a victim of identity theft faster than ever before.
Obtaining an online instant credit report requires that you have access to an online computer and have all your personal information ready to enter. It really is as simple as that to get your instant credit report. As with any online interaction that involves personal information it is always important to remember to check that the website is secure before entering any details and requesting your instant credit report.
JONATHAN
Due to the increasing number of households having an Internet connection, instant credit reports obtained online have risen in popularity and are preferred when compared to the traditional methods of written requests and toll free telephone calls to major reporting agencies. An instant credit report allows a consumer to access their complete credit file within minutes or in some cases seconds with a click of their mouse. This is a vast improvement and is greatly appreciated by the consumer, especially if they are wanting to pursue a loan application and need an instant credit report to assess their chances.
There are currently two ways to obtain your instant credit report online, one is more cost efficient than the other depending on your specific needs. The first is a free annual, or even in some cases biannual, instant credit report. These types of free instant credit reports do not usually contain all three reports or a credit score. The second way is to pay a competitive fee including a three in one report from Equifax, Experian and Trans Union complete with a credit score. Paying for your instant credit report can be a little more complicated, as more choices accompany this option. You can go directly to the credit reporting websites or use a credit service company. With a credit services company, you will usually receive a free one-time instant credit report for agreeing to purchase many others throughout a set period, usually one year. However, with these companies you will not receive the free instant credit report information available at the major reporting agency sites.
Instant credit reports enable you to correct vital mistakes that may affect your financial future by submitting a request for an investigation into discrepancies online. They also allow you to update any or all information that has changed or been misreported since you last viewed the credit report. Even more importantly, an instant credit report can allow you to recognize if you have been a victim of identity theft faster than ever before.
Obtaining an online instant credit report requires that you have access to an online computer and have all your personal information ready to enter. It really is as simple as that to get your instant credit report. As with any online interaction that involves personal information it is always important to remember to check that the website is secure before entering any details and requesting your instant credit report.
JONATHAN
Recommendations for a good paper shredder for personal use?
kimber181 asked:
Sorry I know this isn’t the right section to be asking but didn’t get any replies in consumers. I know this section is usually busy.
I need one, I have tons of personal papers, old pay stubs, old loans, credit reports, etc. that I need to get rid of. Don’t want to spend a fortune but dont want junk either. What would you suggest? Any that you think are better than others? Prices?
THAD
Sorry I know this isn’t the right section to be asking but didn’t get any replies in consumers. I know this section is usually busy.
I need one, I have tons of personal papers, old pay stubs, old loans, credit reports, etc. that I need to get rid of. Don’t want to spend a fortune but dont want junk either. What would you suggest? Any that you think are better than others? Prices?
THAD
Why would a collection company only accept guaranteed money?
SoulSearching asked:
I was going to pay with a debit card and I wanted then to fax me a copy that the bill was paid for my personal records.credit report..
I was going to pay with a debit card and I wanted then to fax me a copy that the bill was paid for my personal records.credit report..
they said the only way they would do that is if I paid with guaranteed money
They said no credit card payment
AL
