289 People Helped
Member Since: July 2012
You wrote about the”6 other leading factors", how about giving some insight into past credit history with a financial institution. If someone had a credit card 10 years ago and defaulted on the card, will a card issuer give someone a second chance? The negative information is no longer on the credit report but how harshly is a credit card company going to hold the past debt against you? (I would think they would have a very long memory when it comes to who defaulted on then) Does a person have any hope of getting a second chance? Can a credit card issuer legally hold 10 year old negative information against you?
SonnyHoney54's response was:
I currently have a US Cash+ card with a $10,000.00 line of credit. I started out with an $8,000.00 line one year ago. My Credit Karma score at that time was a very thin 720 and afterwards my CK score went down to 646 after adding 3 new accounts the next month. About a month ago I went on the US Bank web site and started an application for their business card but did not finish it. Wouldn't you know a couple of weeks later I received an invitation to apply for their business credit card. I called US Bank on 8/12/2013 went through the application process with income of $60,450.00 using my Business name. On 8/15/2013 I login onto my CK account and my new business credit card was listed with my other credit accounts! The new business credit card had showed up with my other credit account. I have been using the Credit Karma Monitoring platform and works wonderful. I call the US Bank application status phone number to check if the information I was seeing was correct. I was told that my new business card has a $15,100.00 line of credit and my current CK score is 682. At myFICO.com my Equifax score is 772, Credit.com 751 and Credit Sesame 763 are Experian scores. US Bank has a very good rewards program with a customer service center base in American. That benefit is worth a lot when it comes time to speaking to a customer service person. If you are looking to get away from the big 4 banks, US Bank is the 5th largest bank in size.
I just ask the same tpye of question. Have you gotten anyone to reply to you? here was my question; "You wrote about the”6 other leading factors", how about giving some insight into past credit history with a financial institution. If someone had a credit card 10 years ago and defaulted on the card will a card issuer give someone a second chance? The negative information is no longer on the credit report but how harshly is a credit card company going to hold the past debt against you? (I would think they would have a very long memory when it comes to who defaulted on then) Does a person have any hope of getting a second chance? Can a credit card issuer legally hold 10 year old negative information against you?
SonnyHoney54's reply was:
Sometimes you need to call the financial institution if you do not receive the "instant" answer you were looking for. Are you sure your credit report was hit with a hard inquiry? Stop waiting around for their response...... be proactive! How can it hurt and you just might get the card you were hoping for.
If you have the money to pay off the collections, great but before you hand over your money; offer less, a lot less (25%) and ask for them to remove the collection entry from your report. The older the collection the less you can offer as a per cent of what you still owed. Ask for the removal of the collection from your report in writing. Have the collection company send you a letter you send then the cash back. If they do not remove the collection call then first and then dispute the item with your letter from the collection company to the credit bureaus. This can take time but keep at it, keep good records and do not give up. Good luck in your journey.
Shop around. Some insurance companies rely on credit score more than others. From my shopping for insurance, I have been told that there is no standard scoring model. Each insurance company has their own method of calculating your score. You can do a lot of shopping around on the internet without having to spend an hour on the phone. Geico has a simple internet way of pricing your rates. Before looking for a quote makes sure your credit is in order and paid down your outstanding balances. Avoid any inquires for 3 months and ask what CRA they using. Make sure your efforts to improve your credit score has been reported to the CRA before applying for a new quote.
Challenge anything that is negative on your account and or call up the banks and ask if they will remove negative items that are holding down your score. Before you call the banks make sure you’ll been paying your debts to that bank on time. It easier for the banks to forgive your past late payments if you’ll been current making timely payments.
Can you guy's post a screen shot of were the new update button was supposed to have been located. I really like the update! I have spent will over an hour going to each page of the new version looking for the 'Update Button". I learn a lot and understand the easy of the new version but I would have like to known that there was a bug in the system. I was thinking that maybe it updated on its own when there was a change in the credit report. No such luck.
The key is if you owe money on the account ask the company to remove the account from your credit file before you pay the account in full. If you have not done that call up the company and ask then to remove it for you. A trick is to dispute the item and ask the company not to respond to your dispute. By law they have to report your account but by law if the bureaus does not hear back from the company concerning your account, the account goes away. Good luck in your journey.
This is my story. I applied for an auto loan in February. I was told I had a ZERO score. I open a Kohl’s /CAPONE account in March. I was given a $1000.00 Line of credit. Next 3 months spent $750.00 paid off all but $12.75. On 7/20/2012 went back to the same dealership and I still had a ZERO score. I found out that my credit report showed only two accounts both 7 year old Mortgages (with no late payments) with the Kohl's account missing from my TransUnion report. I went to work and within 10 days the Kohl's account was showing up on my report with 3 months of history. With only my thin credit history I call the dealership up again, I ask him to run my score and was told it was 742! I am bringing the new Kia Sedona home today. I put $3000.00 down and was given a 72 months loan at 2.50% the dealership had five different banks wanting to loan to me and I had my own financing at 3.65% but went with a loan from Chase through the dealership. Moral of the story, clean up your report of any negatives, open an account, spend money, make payments and pay it down to about nothing and you will have a great score. The finance manager at the car dealer said he had never seen a score change so much in such a short time.