shyamp55

2 Contributions 10 People Helped

Member Since: January 2012

Most Helpful Contribution

Has Credit Karma helped anyone improve their score?

Feb 23, 2012
Helpful to 9 out of 9 people

To spare you the details I've steadily used this site to improve my Credit score. I've noticed this site uses Transunion so I went and initially targetting my Transunion Credit report. I saw that there were some aged items and had them removed by disputing it. Additionally I've noticed one of my credit card companies is not reporting my main credit card which has a 20K limit, so my usage appears to be unusually high so I'm now in the process to dispute the credit limit on that card and hopefully that will significantly improve my score. According to the simulator it should increase it approx 20 pts. I will start looking over my other credit reports as well to ensure those items are reported correctly.

I don't necessarily agree with some of the advice, e.g. taking out a car loan when my current one is 0.9% to a 6.9% loan and something from 36 months to 72 months to reduce my monthly payment by $200. If I was in a desperate situation and strapped for cash I could understand how that would help someone have more cash, but obviously that doesn't necessarily affect my credit since I can make my current payments and have my car paid off quicker with less interest.

Beware of the credit cards offers. CK is free because it allows these banks & insurance companies to advertise their products to users. For many people each additional line of credit that you add reduces your score immediately and can drop you from the category of Excellent into Good or Bad.. so avoid that especially right before applying for a mortgage.  Keeping fewer longer lines of credit is beneficial because your average age of line will go up. Making payments on time is obviously the number 1 factor that reduces credit scores, so don't miss your payments. Set up autopays wherever possible to avoid missing payments.

Activity (2 Total Contributions)

Has Credit Karma helped anyone improve their score?

Feb 23, 2012
Helpful to 9 out of 9 people

To spare you the details I've steadily used this site to improve my Credit score. I've noticed this site uses Transunion so I went and initially targetting my Transunion Credit report. I saw that there were some aged items and had them removed by disputing it. Additionally I've noticed one of my credit card companies is not reporting my main credit card which has a 20K limit, so my usage appears to be unusually high so I'm now in the process to dispute the credit limit on that card and hopefully that will significantly improve my score. According to the simulator it should increase it approx 20 pts. I will start looking over my other credit reports as well to ensure those items are reported correctly.

I don't necessarily agree with some of the advice, e.g. taking out a car loan when my current one is 0.9% to a 6.9% loan and something from 36 months to 72 months to reduce my monthly payment by $200. If I was in a desperate situation and strapped for cash I could understand how that would help someone have more cash, but obviously that doesn't necessarily affect my credit since I can make my current payments and have my car paid off quicker with less interest.

Beware of the credit cards offers. CK is free because it allows these banks & insurance companies to advertise their products to users. For many people each additional line of credit that you add reduces your score immediately and can drop you from the category of Excellent into Good or Bad.. so avoid that especially right before applying for a mortgage.  Keeping fewer longer lines of credit is beneficial because your average age of line will go up. Making payments on time is obviously the number 1 factor that reduces credit scores, so don't miss your payments. Set up autopays wherever possible to avoid missing payments.

Honda Financial Services

Oct 22, 2012
Acura / Honda Financial Services
Helpful to 1 out of 1 people

I own a 2010 Acura TL and have leased a 2012 Honda Civic EX, both through Honda. There were no problems when it came to getting approved and the rates were as advertised 0.9%, for 60months with $0 down on my TL and the lease price was quite exceptional considering the fact that they took care of the taxes, title and made the first month's payment all with 0 down on that as well. 

The initial setup was quiet simple on the website and auto-payment can be set to take place a day or 2 before you due date to ensure if there are any problems you have time to may a manual payment.

Haven't had any issues with the exception that I noticed for my Acura 2 hard inquiries were made, 1 by the dealership and one by the financing company. Was not too keen about multiple hard inquiries on a single purchase. They since have both been removed so it's a non-issue now for me.