JohnHoer

Yes, you're right. But, the point that I'm trying to make is that obtaining a network card is not a priority for me and network bank cards seem to be a downfall for many consumers for the following reasons:

They facilitate impulse purchases.

Many consumers who carry balances are now stuck with substantial balances, decreased limits, higher interest rates, penalty fees, annual fees with fewer recourses for refinancing their debt.

The price you pay for that new item will undoubtedly cost much more than you suspect if you carry a balance.

Merchants and vendors must increase prices to cover the cost for their customer to be able to use their cards. And that includes debit cards, too.

Even if you are a responsible user of credit cards, you are paying for those users who cannot pay their debt (banks are in this business for a profit).

I do think that credit cards are useful and necesary in many instances, but perhaps they are not beneficial for everyone.

Cash, debit cards and personal loans in that order) are more suitable for my credit needs and pattern of credit use. I can build a positive credit history without using a network bank card and with less risk and costs from misuse. It took me a while to learn that lesson.

Have you considered refinancing your bank cards with a unsecured loan through a local community bank or a credit union? I've found their rates to be at least as reasonable as the rates of network bank cards issued through the large national banks. I didn't need to pay an application fee, annual fees and fewer risks of penalities. It also has some credit score benefits. And there is little or no risk of problems associated with impulsive bank card charging. The other benefit is that you can establish a personal as well as a financial relationship with an institution that is vested in your community versus exporting your money to Wall Street. I think it will also improve your future chances of obtaining future loans, including home loans and auto loans. Personally, I'm avoiding the large national banks that have no better financial management history than my own, and that borrow money from the feds at the very low rate of 0.0% to 0.25% and lend it at 18%, 20% and even much higher rates. And with an unsecured loan, you usually avoid any bate and switch interest rates. For me, bank cards have too many risks. Good luck.

How frequently are the credit scores by states updated? What has been the credit score trends since the onset of the banking crisis in 2008? If the trend is significantlyt downward, then the average score is decreasing. If so, how would that impact someones credit score that has remained the same? In the grand scheme of credit reporting, wouldn't that be problematic for lenders, borrowers and credit reporting agencies?

Experian has updated my account balances to refect the correct lower balances upon dispute. But, Trans Union responded that the balances were correct and will remain. So, my Trans Union report continues to reflect some of the incorrect higher balances. My credit score with Experian also increased after they corrected the balances. This is delaying my intentions to apply for a refinance.

Although a Ch 7 Bankruptcy remains on a credit report for 10 yeas, will it's impact upon a credit score diminish after it has been two years from the discharge date?

My credit score on CreditKarma.com, Quizzle.com and Credit.com is markedly lower than each of these sites. What is the explanation for that since each of the sites pull our scores from each one of these credit reporting agencies?

It seems that the credit reporting agencies really don't do justice to the consumer because it encourages us to incur credit card debt with the largest banks (they appear to spend a great deal of marketing dollars on these sites). I have several debit cards thru several bank accounts (on the Visa and Mastercard network). However, that doesn't get reflected in a credit report even though I'm managing my bank accounts and paying these networks a premium for using their service.

I know a Chapter 7 Bankruptcy can stay on a credit report from 7 - 10 years. But, if you have a two year history of on time payments and moderate credit utilization since the discharge, will that mitigate the effects of the bankruptcy?

I have my 2nd mortgage paid down to $1575. I could pay it off now or pay off the lesser balances on my only two credit cards. But, when sick several years ago with a decrease in income, I hit a few bumps in the road in regard to my credit. Would it be better to pay off these accounts or continue making payments to improve my credit history?

I'm having problems with hard inquiries. I was thinking of refinancing my home. I did permit one company to run a credit inquiry. However, they also ran three additional inquiries without my permsission.

I also appplied for a personal loan. But, now I've found three additional hard inquiries from companies with whom I'm unfamiliar. Is there something in fine print that gives affiliates of companies permission to run reports? Because I'm now very skeptical of permitting anyone the opportunity the run a credit inquiry. And is this a question that one should ask a lender prior to having their credit pulled?

I've also also read that they stay on your report for two years. But, on credit.com, I've read that they only count against your score after one year. I don't know which is correct. There seems to be a lot of conflicting information.

I filed for Chapter 7 Bankruptcy in January 2008 due to a long term illness. It was discharged on April 29, 2008. On May 30, 2009, I will qualify for a FHA mortgage. Would this be the best option for me to refinance?

I too, am interested in what your credit score was. I'm skeptical about applying for a credit card, being denied and enduring another hard inquiry hit.

I do not think that this is a good deal. Why should let the bank use my money and make money off of each transaction I make with this card. It appears like a win-win situation for the bank and a loose-neutral situation for me.