BungalowMo

117 Contributions 869 People Helped Top Contributor

Member Since: May 2009

Most Helpful Contribution

how can i raise my credit score 100 points in 6 months

Aug 22, 2014
Helpful to 230 out of 283 people

First off...they have every right to report.  Something that has been charged off is a bad debt & it gets sold to collection agencies. 

Your best course of action is to send them a letter offering a "pay for delete".  You pay them off...they remove it from your reports.

Do EVERYTHING via us mail  send the certified mail, return receipt.  That way you know they got it.

Lastly, the original creditor will, and legally can, keep this on your report for 7 years from the last date they received anything from you.

Hope it's old cuz it's gonna hurt for a long time.

Activity (117 Total Contributions)

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Credit Card Approval Insights

Sep 26, 2011
Helpful to 129 out of 136 people

Well said Nickster!  The only thing I'd like to add is going to the "Opt Out" website & print out that form & send it in.  You will receive NO offers in the mail.  Most are simply hoping you apply, when in reality, their "pre approvals" are bull.  Get that junk out of your mail box, go to the Creditboards website & check out their (gotta create username) credit pulls database.

If you REALLY want to know what your chances are, the detailed information on there is great.  I have checked there every time before I applied anywhere for the last 5 years.

I'll never app without it!

The do’s and don’ts of closing old accounts

Jun 13, 2012
Helpful to 47 out of 50 people

Yeah...cash is king until you need a mortgage

When do credit card companies report balance to credit bureau?

Apr 08, 2011
Helpful to 94 out of 105 people

99% of credit card companies report to the 3 on your statement cut date.  If you are wanting to keep your score at it's highest possible, pay these before the cut date, but leave just one card with a low balance...like $10.  With every card posting zero, month after month, the FICO system sees this sort of as a fear of using your cards.  They like to see responsible use.

Right now, one of my positive FICO factors states "recent use of available credit".  Letting a balance of between 3 to 9% of TOTAL available credit, but only on one card seems to be the magic spot.  Several of us on the myFICO forums palyed with these 3's over a few months (we dicided to be the guinea pigs!)  and found those percentages to work in our best favor.

Hope this helped!  :0)

What is VantageScore 2.0?

Jan 09, 2011
Helpful to 46 out of 50 people

jftriol....call AMEX & ask for a recon.  Let them know you weren't aware they'd drop you for non use.  They'll likely give it back to you with the history (acct age) intact.  Use it for groceries & PIF before the due date.

You'll see that FICO go back up!  ;0)

What is VantageScore 2.0?

Apr 08, 2011
Helpful to 23 out of 24 people

I cannot stress this point enough.  It's fine to come here to get the "content" of your Trans Union reports, but their scores here mean nothing to lenders.  The next time you app for a loan or credit card, ask them where the scores come from.  I will guarantee you, they will not say "Credit Karma" or "Vantage".

I'm quite sure my posts here are not popular with the site owners, but at least they don't remove them.  That at least tells me that they are ok with you all knowing the truth/facts.

CK says I should seek a new 0% credit card to transfer 38K of debt. Will the transfer affect score?

Aug 22, 2014
Helpful to 12 out of 12 people

The cards suggested here are basically paid advertisements by the CC companies!  They keep telling me to get the Chase Freedom & the Discover IT!

Really dumb...because I already have both!

They have no clue about you, your finances, what cards you have or do not have.  CK might say you're eligible...but only to apply!  They go by the score here. Lenders & CC companies use FICO scores.

Also...they are only basing any suggestion or "eligibility" on your report here, which is Trans Union.  ccc's might pull Exparian, or Equifax.  This site has no clue who pulls what, and what their determining factors are to qualify you.

Go to google & put in "credit pull database".  You'll see the site that has it come up.  Join the site & when you do a search, put in ONLY the card you want...not the state or credit reporting agency.  You will get a ton of info & it will show you who got what, in what state, what kind of credit line...etc.

I get all my FICO reports from the myFICO site.  Those are the credit card scores that lenders use.

Here...sorry, I use it for generic info & to actually help others!  The info that the site suggests for you, it's paid for by the lenders to push their product...period!

what happen to being able to see all my accounts? this new site sucks

Aug 21, 2015
Their recommendations are a joke!
Helpful to 8 out of 8 people

Supposed to be recommendations just for "ME"! 

They are all cards I already have.

So much for personalization!

how can i raise my credit score 100 points in 6 months

Aug 22, 2014
Helpful to 230 out of 283 people

First off...they have every right to report.  Something that has been charged off is a bad debt & it gets sold to collection agencies. 

Your best course of action is to send them a letter offering a "pay for delete".  You pay them off...they remove it from your reports.

Do EVERYTHING via us mail  send the certified mail, return receipt.  That way you know they got it.

Lastly, the original creditor will, and legally can, keep this on your report for 7 years from the last date they received anything from you.

Hope it's old cuz it's gonna hurt for a long time.

What is VantageScore 2.0?

Jan 08, 2011
Helpful to 6 out of 6 people

The lenders likely won't see either.  Lenders use FICO scores.

Has Credit Karma helped anyone improve their score?

Jan 01, 2012
Helpful to 14 out of 16 people

Personally, I would use much caution before simply following the advice they offer in your personal credit section.

If I followed their advice, I would "save" money on my auto loan by paying less each month, but for 72 months rather than 36, at 6.6% instead of 5.6.  Hmmmmm

Next, I could also "save" by apping for a capital one card at 17.9% interest, instead of keepint the ones I have which are 9.9, 11.3 & 12.9.  That sounds like a hell of a deal!  (not)

If you follow the basic rules of keeping your credit card balances low, not applying for credit that you don't need, and keep an eye on your reports to be aware of any unknown charges on your cards & ID theft....then your reports will be looking great & in time, even any negative marks will age & fall off.

I get my credit information from a broad range of places.  Mostly from the myFICO forums, Suze Orman & Clark Howard.  Here...not so much.  CK even says my insurance score is just "medium".  I have full coverage w/geico...100/300k coverage, towing, loaner car, all the bells & whistles with a $250 deductible... $225 per 6/mo.   That sounds a lot better than MID to me!

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