Experian Thoughts
Posted by seattle, Mar 29 2009, 06:30 PM in Credit Nation: Credit Crisis
Now I have thought and read about this for some time now and I’m finally ready to blog on the issue. Experian the Bane of the big 3 has pulled the ability for us "being me and you" can pull and see our score through fico.
Fico is 80% of the market for credit scores in the estimates I have seen and heard of.. They continue to use Fico for lenders but has created a problem for us the people. What type of VERMIN does this and why? Ill tell you why, they have decided to make us suffer b/c they have problems with Ole Fair Isaacs’.
That’s right were receiving the butt end of this in fight that has now spewed out into the open and to stopped from being sued by the business world they keep them on tap.
What is it for us to do, I don't know maybe ban together and find a law office willing to take up our case. This is something that burns me to the bone. I will not be the last to say this SUE, SUE, SUE, Experian and FICO. These people are out of control in a big way, b/c there are no laws to govern the use of credit scores the only recourse would be to take them to court and see what happens.
They have single handedly handicapped me and millions of Americans. I want to buy a home and maybe some investment property and I can only now guess at what I might need to do to get things better. I’m someone who has, or may had a good score who knows what they’re doing to it now. I can’t look to see even though I could get a mortgage company to pull it for me but at the cost of inq's.
This has to make people MAD and to sit idle at this moment is something I’m not willing to do for one. I will make some calls to various offices around town here in Seattle and find a good law firm and Pay the money to see what they think.
Now if you have something that you would like for me to ask the lawyers about this specific potential case please fill free to post..
Thank you
Seattle.
Updated Progress
Posted by seattle, Mar 17 2009, 09:38 PM in Credit Nation: Rebuilding Credit
Okay, as promised I would update my blog with the information I stated. Great New's everyone.
FICO: Transunion 714 Score my First Ever 700score
FICO: Equifax 650 Score, Still A bit low, but will bounce up.. Have a Util Duplication on it from loss stolen card. I expect it to jump to around 702
Experian I have no Idea what so ever people they have pulled and ran off into the hay stack like the vermin they are. But there just as strong as my Transunion Score so I think its Safe to Say its in the 700's as well people 
... But with Experian who know's I can't pull it...
My Util is now 38% of 29K so things are moving ahead very well.
Gas, Gas, Gas
Posted by seattle, Feb 1 2009, 04:40 AM in Credit Nation: Credit CrisisWith the current pending strike of Valero, this could send the gas prices back sky high. Most experts belive that the current crisis if a strike happens would send gas to $3.50 to $4.00 a Gallon. Not only would this hurt consumers, but this would send the SUV prices down to record lows agin. Possibly killing off the struggling car industry as we know it.
Credit Debt Reduced
Posted by seattle, Jan 14 2009, 03:47 AM in Credit Nation: Rebuilding Credit
With the current track rate that im on, I will have my total credit card debt down to 15% of 29K bye Feb 25 2009...
Now that something to be happy about, if you ask me. 
Fico's New Changes
Posted by seattle, Jan 3 2009, 01:09 AM in Credit Nation: Credit Crisis
Collections. The new formula ignores small collection accounts in which the original debt was less than $100. This is a big victory for consumers and one I've advocated for years, because niggling little debts -- created by unpaid library fines, forgotten parking tickets or a small medical bill that slipped through the insurance cracks -- had an outsize impact on people's scores.
Credit missteps. Fair Isaac says the new version is less punishing to those who have had a serious credit setback, such as a charge-off or a repossession, as long as their other active credit accounts are all in good standing.
Authorized users. Fair Isaac initially said FICO 08 would combat potential fraud by ignoring any "authorized-user" accounts in a borrower's credit report. After a big consumer outcry and potential credit fairness issues, Fair Isaac backed off and decided some authorized-user information would be included.
These are the three big changes that are going on the rest just kind of follows rank and file, keep balances low and having alot of credit cards vs loan or instalment accounts will be a toss up how that formula works out.
New Year's Resolution for 2009
Posted by seattle, Dec 25 2008, 03:09 AM in Credit Nation: Rebuilding Credit
Okay, its 12:00AM Merry Christmas Everyone, now with the new year comming up real quick I would like to make a new year's resolution..
1: Lower CC Util to 20% Currently we are at 42% A little under 10K
2: No Credit Applications for the 2009
3: Now this is going to be tough, 10K invested in the markets
My rise in credit score and fall due to util has come full circle about for 2009. This page will be updated quarterly to keep everyone and myself on the up and up.
Important Information
Updates will be due March 25 2009, June 25 2009, Sept 25 2009 and finaly Christmas Dec 25 2009
The Stop On Rate Jacking... One Can Hope
Posted by seattle, Dec 18 2008, 10:47 PM in Credit Nation: Credit CrisisRegulators have decided to do step into the ring and regulate the credit card industry. There are new sweeping changes to rate jacking, late fees, and to notifications. In most case's they did this with little to stop them. Now starting in 2010 they will no longer be able to change rates on old card holders.
Navy Federal Credit Union Debuffs Myth...
Posted by seattle, Dec 15 2008, 03:51 PM in Credit Nation: Credit Crisis
Even with the current credit crisis going on today in the main stream banking industry the bright light would appear to be comming from the credit unions. I offer this simply as proof to support my thought and with turn downs from other lenders.
Congratulations! Based on your creditworthiness, you have been approved for a goRewards Visa credit card. Your new credit line will be $3,500.00. Your APR will be 16.90%
Thank You
Navy Federal Credit Union
Always a pleasure to do business with a bank of your caliber.
Credit Cards/Repair Lesson's for Life...
Posted by seattle, Dec 12 2008, 11:51 PM in Credit Nation: Rebuilding Credit
Quick history on my credit situation, I came to this board by accident. I was one of the hundreds of thousands who saw on TV Instant Credit Builders Piggy Backign Credit on CNN. After about spending 2weeks there I was told by a poster that my situation wasn’t that bad and that Credit Boards is where I should be to repair my credit. I had about 6K in total credit in my file. 80% was utilized. I went to credit boards in July of 2007 looking around and after spending a good amount of time reading and help from members I was able to remove the late payments and 4 collections on my report in about 2months. I had scores of 620 601 602 respectively.
I had little things $20 check, $40.00 no pay, $30 no pay, $50.00 paid in collections and late payments with my current issuers of my credit cards. Nothing major but with the little things added up to keep me low. I watched as my scores rose quickly. I will never forget the day I got the score alert that my Trans union was 699 Equifax was 688 Experian was 690. Then I did what I soon regretted to some extent applied for credit cards. Hooters were first 5.2K issued AMEX 1K, Juniper 1.7K, Juniper 1K, Zale’s 6 K, and Bank of America 2K …
Shortly after that I was Minister of Plastic Praying for more, till the bills went from $100.00 a month on credit cards to $500.00 a month minimum payments. That is a 500% increase on the monthly payments needless to say I was in Shock, it took me about 3 months to say too hell with that. I had 4 401K accounts totaling about $20K needless to say I have 1 left now with about 8K in it I paid down my $20,000 in credit card debt, down to 10K. I have about 6K more I will be paying down on from now till March. I have a minimum requirement now of $250.00 a month, that I can now handle without much trouble. I have cut up my Credit cards 3-4 months ago and live off of cash only and a Debit Card.
I have found that it is easy to clean up your credit and hard to come out of debt. I surely would have had to file for BK if I hadn’t had the critical skills of Saving Money.
My Future Goal’s are simple never ever use credit cards unless you can pay in full every month or it’s investment reasons with returns monthly connected to a business transaction. It has been hard work to clear up my credit and I am currently coming out to 10% utilization by May of 2009. When that day and time comes I predict that my Scores will be 700’s across the board if not sooner. My last comments and advice to all is use credit wisely..
Juniper Bank
Posted by seattle, Dec 10 2008, 08:41 PM in Credit Nation: Credit Crisis
Juniper bank has become a critical issue in the credit crisis of America... Juniper Bank Owned by Barclays, I personally spoke with a customer service agent in there department today to inquire about a number that would take you to the Underwriters..
The information I was given and I quote from this agent about a recent request in extending more credit to a current credit card I have with the company. “You have been denied the request b/c you don't meet the current financial guidelines for credit. You would have to make $200,000 a year to receive any more credit from us" Now I have a total of $2700.00 in credit from Junipers bank which 20% is current in util. Based on a pay check of $65,000 a year job base and commission.
These types of guidelines being forced out by credit companies are the exact reason there is a credit freeze and thanks for being a responsible consumer and customer to the banking industry.
$200,000 a year with a family of 2 would put me in the top 15% of the state for income, and I would like to think $2700.00 in credit extended is missing another 0 at least for those types of qualifications.
This is Seattle and thank you for visiting the Credit Nation...
