Random789644

930 Contributions 541 People Helped Top Contributor

Member Since: December 2015

Most Helpful Contribution

Blue Cash Everyday® Card from American Express

Oct 14, 2019
I see some things never change...
Helpful to 152 out of 164 people

I had this card from 2001-2006. Everything went fine until I found myself getting divorced in mid-2005. Suddenly, out of the blue, they cut the limit down from $10k to roughly $4k, with no warning whatsoever. Note that my ex and I kept our finances separate, so the card was just mine. My balance was a bit north of $5k at the time, which shoved me immediately into their fun 30% punitive interest rate because I was suddenly over their new limit (where previously I was not.) I call them and ask why they did this, they said "policy", and refused to discuss anything further. Nice job of coming out of nowhere to kick a man when he's down, Amex!
--

Fast forward 13 years, and with a vastly better credit score (and a far superior wife, little-to-no debt, a massively higher salary...) I figured I'd start looking to expand my card portfolio a bit. I generally keep the balances well under $100, and pay them off each month. However, I wander by here, and see that others still suffer the same issues I had suffered. The whole demanding one's tax returns as well? Umm, no thanks, Amex. I see you still have a long way to go to clean your act up, and I for one refuse to fall into your mess again.

Activity (930 Total Contributions)

Results 1-10 of 930Results per page: 5 | 10 | 25Page 1 of 93   Previous | Next

Capital One® Platinum Credit Card

Oct 10, 2019
Solid, Feature-Rich, All-Rounder
Helpful to 43 out of 44 people

When I successfully got out of Chapter 13 bankruptcy in 2015, I need to rebuild my credit from basically scratch in order to purchase a home. The lender recommended the Capital One Platinum. I got approved instantly for $500. A month later, my credit rating skyrocketed, and two months later, I moved into my new home. Today, I have a $6500 limit (zero balance), a new (to me) truck with a very decent rate, and an awesome score across all three bureaus. Without that first approval long ago, I don't think I would have been this far along financially.
--

Capital One has been there the whole time, adding tools, a very decent app that tells me instantly when anything is done with the card (or when my missus uses hers), and much more besides. I keep the balance at zero, but it has come in handy once or twice when something unexpected had cropped up.

Blue Cash Everyday® Card from American Express

Oct 14, 2019
I see some things never change...
Helpful to 152 out of 164 people

I had this card from 2001-2006. Everything went fine until I found myself getting divorced in mid-2005. Suddenly, out of the blue, they cut the limit down from $10k to roughly $4k, with no warning whatsoever. Note that my ex and I kept our finances separate, so the card was just mine. My balance was a bit north of $5k at the time, which shoved me immediately into their fun 30% punitive interest rate because I was suddenly over their new limit (where previously I was not.) I call them and ask why they did this, they said "policy", and refused to discuss anything further. Nice job of coming out of nowhere to kick a man when he's down, Amex!
--

Fast forward 13 years, and with a vastly better credit score (and a far superior wife, little-to-no debt, a massively higher salary...) I figured I'd start looking to expand my card portfolio a bit. I generally keep the balances well under $100, and pay them off each month. However, I wander by here, and see that others still suffer the same issues I had suffered. The whole demanding one's tax returns as well? Umm, no thanks, Amex. I see you still have a long way to go to clean your act up, and I for one refuse to fall into your mess again.

how long before a bankruptcy is removed from my credit report?

Oct 07, 2016
Helpful to 49 out of 51 people

Not quite 10 years... if it's Chapter 7, it's ten years from being granted. If it's Chapter 13, it's only seven years from filing date.

how long before a bankruptcy is removed from my credit report?

Oct 07, 2016
Helpful to 22 out of 22 people

I actually went and looked it up - depends on which type of bankruptcy you got. For Chapter 13, it's seven years (since you partially repaid debts). For Chapter 7, it's ten years from date granted (since you didn't repay anything).

Why does my Equifax score on CK and the # a Creditor saw on my report differ by 100+ points?!

May 18, 2017
Helpful to 13 out of 13 people

1) CK uses the Vantage 3.0 scoring model, whereas most folks use FICO. The Vantage model is (usually) good enough to show improvements (or detriments) over time.
--

2) CK contacts two of the three bureaus - Equifax and Transunion. The third bureau, Experian, doesn't share with anyone, and demands that you pay them a monthly fee to see their stuff. Experian may have your score so low that it dragged down the average, so you may want to get a copy of their report on you (just don;t get suckered into their introductory offer thingy and end up paying a $30/mo fee...)

Capital One® Platinum Credit Card

Oct 20, 2019
Helpful to 7 out of 7 people

One thing to keep in mind: like most card issuers, CapOne only reports once a month, at the same day each month. This means it doesn't matter when you pay the balance down, your score and reports won't update until they do their monthly reporting to the bureaus.

1st time auto insurance buyer

Aug 19, 2016
Helpful to 7 out of 7 people

Depends on where you live, how old you are, your marital status, the vehicle (not its price, but type, age, etc) and your traffic record. If you're a 19-year-old single guy in New York City who had an accident and three tickets in the past two years and want to insure a shiny new Mercedes Benz, you will pay through the nose. If you're a 50-year-old empty-nester in BFE Wyoming with a perfect record and driving a beat-up old 2002 minivan, you'll pay next to nothing. When I was a punk kid in uniform stationed in Las Vegas, single, and driving a brand-new Jeep Wrangler fresh off the lot? My insurance payment was practically as big as the loan payment. Now I live in rural Oregon and drive one of two used vehicles that my wife and I own free and clear... and I pay more for cigarettes each month than I do for full-coverage insurance on both vehicles (that is, practically nothing). Long story short, you're probably going to have to ask an insurance agent (or two, preferably 3-4 different ones so that you can get some quotes and find the best price/coverage/etc.)

Filed chapter 13 because of identity theft but just bankruptcy shows

Aug 17, 2016
Helpful to 10 out of 11 people

Note that sometimes you cannot convert a Chapter 13 to a Chapter 7. It all depends on your income and (to a smaller extent) the debt totals. 

Why do my credit scores go down when I make all payments on time and for more than the amount due

May 18, 2019
Helpful to 5 out of 5 people

Something to keep in mind... Credit Karma uses the Vantage scoring model, while nearly everyone who lends money uses the FICO scoring model, so I wouldn't sweat it too much.

How to build credit during Ch 13?

Apr 27, 2018
Helpful to 5 out of 5 people

Actually, there are a couple of instances where your credit improves during a Chapter 13...

==
* If you have any negative marks that are/were two years old (or older) when you filed, they'll be gone by the time the bankruptcy is discharged.

.

* If you kept the house and car (as long as there's no foreclosure or repo, this is doable), and continue to faithfully make payments on both, these will improve your credit score. 

.

* If you need a car, and can justify it to the trustee, you can shoot to get an exemption and get a car loan (just note that the interest rate will suck, and don't expect to buy something shiny and new, but if you do it right, it can add to your good credit. 

.

==

Note that these are not silver bullets, and are not panaceas, but they can and will help. By way of example, my FICO score was in the low 500s when I was forced to file in 2010. Upon successful discharge in 2015, it was 611. The moment I got the discharge (late 2015), I was able to get a $500 limit Capital One card. Three months later, my score was 694 - plenty high enough to close on a VA loan. Now, my FICO score hovers around 800, and the card limit is $6500. I have no other cards (don't need any). 

--

Mind, this is not bragging at all - I'm telling you this because there is light at the end of the tunnel. :)

Results 1-10 of 930Results per page: 5 | 10 | 25Page 1 of 93   Previous | Next