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Credit News

Credit-related news and articles

916 topics in this forum

  1. Comenity Visa NFL Changes to Amex

    By StarkRaven$,
    • 0 replies
    • 727 views

  3. San Diego DA Announces Credit One Bank Will Pay $10.2M to Settle Suit for Unlawful Debt Collection Practices

    By StarkRaven$,
    • 2 replies
    • 589 views

  4. Fannie Mae Ending Its Hard 620 Score Cutoff

    By cashnocredit,
    • 3 replies
    • 628 views

  5. Bank of America new rewards structure

    By supern8ural,
    • 1 reply
    • 206 views

  6. Executives of bankrupt subprime auto lender Tricolor Holdings charged with fraud

    By hegemony,
    • 1 reply
    • 264 views

  7. What the Visa, Mastercard legal settlement means for your rewards credit card

    By nemo,
    • 0 replies
    • 254 views

  8. Southwest Rapid Rewards Annual Fee Increase

    By StarkRaven$,
    • 1 reply
    • 258 views

  9. FICO changes its pricing model to sell scores directly

    By nemo,
    • 1 reply
    • 293 views

  10. Barclays (US) Cuts My Credit Card Limit By 60% 1 2

    By Burgerwars,
    • 38 replies
    • 13.3k views

  11. Ouch! My Perfect 850 with Credit Karm TU and EQ fell 22 points in one day!

    By PlatinumPreferred,
    • 3 replies
    • 522 views

  12. US judge grants Trump admin request to scrap Biden-era medical debt rule

    By supern8ural,
    • 1 reply
    • 511 views

  13. Vantage Score 4.0 is now accepted for Fannie Mae or Freddie Mac mortgages

    By cashnocredit,
    • 0 replies
    • 553 views

  14. You’re eating a credit card’s worth of plastic every week, and it’s altering your gut makeup

    By hegemony,
    • 5 replies
    • 2k views

  15. Smoakland is testing a loophole to sell cannabis by credit card

    By hegemony,
    • 5 replies
    • 1.3k views

  16. ICYMI: Citi Double Cash update

    By supern8ural,
    • 0 replies
    • 621 views

  17. Looks like the Cap1 and Discover merger is still proceeding.

    By supern8ural,
    • 1 reply
    • 647 views

  18. I..C Systems and no 30 day notice

    By bartman955,
    • 4 replies
    • 1.1k views

  19. Does Citi Have A Long Memory?

    By A Credit Ed,
    • 7 replies
    • 3.3k views

  20. American Airlines chooses Citi as sole credit card partner, drops Barclays

    By nemo,
    • 0 replies
    • 907 views

  21. Some vacationers expect to use credit card for more than $5,000 of summer travel

    By michaelmorgan,
    • 10 replies
    • 2.7k views

  22. Americans continue to rack up credit card debt, hitting a record $1.14 trillion

    By michaelmorgan,   
    • 3 replies
    • 1.7k views

  23. Evictions are rising fastest in these 5 American cities

    By TheVig,
    • 0 replies
    • 1.3k views

  24. 25% of consumers recently used a buy now, pay later loan, report finds.

    By michaelmorgan,   
    • 0 replies
    • 1.4k views

  25. 37% of Americans paid a late fee in the last 12 months, report finds

    By michaelmorgan,
    • 4 replies
    • 1.6k views

  26. “Everything’s frozen”: Ransomware locks credit union users out of bank accounts (Patelco)

    By nemo,
    • 2 replies
    • 1.7k views

  27. You now have permanent access to free weekly credit reports

    By greendeh,
    • 1 reply
    • 1.4k views

  28. Home foreclosures are on the rise again nationwide

    By TheVig,
    • 1 reply
    • 1.2k views

  29. Wells Fargo has fired a bunch of employees after finding out they were pretending to work

    By greendeh,
    • 0 replies
    • 1.2k views

  30. Summons to report to court for capital one credit card. What to expect.

    By KatyF77,
    • 2 replies
    • 1.7k views

  31. CPFB investigating rewards programs

    By supern8ural,
    • 0 replies
    • 1.2k views

  32. New York's new credit card surcharge mandate takes effect

    By hegemony,
    • 4 replies
    • 1.9k views

  33. Republic First Bank closes, first FDIC-insured bank to fail in 2024

    By hegemony,
    • 0 replies
    • 1k views

  34. Card Debt Hits Another Record High As Consumers Keep Putting Purchases on Plastic

    By TheVig,
    • 1 reply
    • 1.4k views

  35. What credit card companies use EquIfax?

    By micheamoore49,   
    • 1 reply
    • 1.7k views

  36. National Slam the Scam Day, March 7, 2024

    By greendeh,
    • 0 replies
    • 1.1k views

  37. Capital One to buy Discover?

    By supern8ural,
    • 9 replies
    • 2.7k views

  38. Truist Foundry launches Long Game mobile app to foster healthy financial habitsTruist Foundry Long Game Mobile App

    By hegemony,
    • 1 reply
    • 2k views

  39. American Express Planning To Build New Travel And Lifestyle Super App

    By TheVig,
    • 2 replies
    • 1.6k views

  40. Navy Federal

    By ElishaW,
    • 2 replies
    • 1.7k views

  41. Americans falling behind on auto loan payments at record pace

    By TheVig,
    • 0 replies
    • 1.2k views

  42. American Express is First Card Issuer to Pilot Facial and Fingerprint Recognition for Safer Online Checkouts

    By hegemony,
    • 5 replies
    • 2.6k views

  43. Newly designed Hilton Honors American Express Card..

    By greendeh,
    • 1 reply
    • 1.4k views

  44. Apple Wallet app can now show current account balances from UK banks

    By hegemony,
    • 1 reply
    • 3k views

  45. New Credit Card available for game console couch potato's

    By greendeh,
    • 1 reply
    • 1.6k views
    • MP80
    • MP80

  46. CFPB Moves to Punish People Who Pay Their Credit Card Bills On Time

    By greendeh,
    • 1 reply
    • 1.6k views

  47. Texas woman forges her way to contract on $1.2M home

    By hegemony,
    • 12 replies
    • 4.4k views

  48. New Jersey Surcharge Legislation Signed Into Law

    By hegemony,
    • 2 replies
    • 1.7k views

  49. Macy’s sounds the alarm on credit card delinquencies

    By hegemony,
    • 1 reply
    • 1.4k views

  50. Not necessarily sure if this belongs here, but Im sure the MODs will know........(Lexis-Nexis report related-Auto Insurance)

    By marqedsade,
    • 0 replies
    • 948 views

  51. FTC Charges Experian with Spamming Consumers Who Signed Up for Company Accounts with Marketing Emails They Couldn’t Opt Out Of

    By hegemony,
    • 1 reply
    • 1.1k views

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  • Our picks

    • Collections, but Comcast didn't let me pay.

      FixTheProblems posted a topic in Credit Forum,

      Hello good folks,
       
      Background: last October, Comcast locked my account because *a stranger* (mistakenly) paid for it with a credit card, and later disputed the charge with their credit card company and did a chargeback. Comcast made it so I couldn't use any type of credit/debit cards to pay. It took some give months to even expose this issue, as agents didn't know why my account was locked. I cancelled my account but they still wouldn't let me pay. Eventually, they sent it to collections, which very promptly hit my credit history with a "Collections" derogratory record.
       
      Unfortunate timing, because I'm in the market right now for a mortgage. Without this note, my credit history is close to perfect, with FICO8 of 835+, and VantageScore3 of 810+.  With this, the scores drop to about 710 and 760 respectively. Meaning, either mortgage denial or higher interest rate, leading to huge sums wasted.
       
      My questions are:
      1) What is the best way to get this rectified and get this record off my history?  
                  - Is it possible to do a "pay for delete"?  
                  - Should I be talking to Comcast or to the collections agency?  
                  - Is there something I need to to in the interim, like disputing the record?  
                  - What would be the fastest way to deal with this? Ideally, I want to apply for a mortgage in the next week if possible. If not possible, in the next 3-8 weeks.  
       
      2) Are there particular mortgage lenders that use a more favorable scoring so this one single negative record doesn't hurt my mortgage rate?  
                  - My understanding is, FICO8 has this 120+ point drop for the first negative record, while other scores (like VantageScore3) doesn't drop so dramatically. Is this correct?
       
      Thank you very much in advance.
      • 67 replies
      MarvBear

      Picked By

      MarvBear,

    • Titty Bank Wants More Smoke

      RehabbingANDBlabbing posted a topic in Credit Forum,

      So my DH had a Citi/Best Buy card that was charged off in 2017. After beginning our credit repair process, I noticed the account was reporting the payment history inaccurately on Equifax and Experian. We disputed many times, then ended up suing them for FCRA violations. They settled the case by forgiving the debt and deleting the account from all reports.
       
      But now they’re back! In 2020, they sent us a 1099-C for an amount just a little bit shy of the balance. I believe it was just the principal balance, which amounted to $4,600. Well, as you know, it’s tax season. And who decides to send us another 1099-C for the same account/debt? Titty bank. They put the full amount of the debt this time; which was about $600 more than the first 1099-C they sent.
       
      I have consulted my lawyer because it seems illegal for them to write off the same debt twice. He has advised we should sue them again. While I’m sure we can win the case, litigation and settlement takes about a year to do, based on our past experiences. It ended up costing us an extra $1,200 in taxes this year. What do y’all think? Should we spend more time and effort on this situation? I’m pretty sure Titty also violated terms in our settlement agreement for the FCRA case as well, in regards to them not pursuing further collection activity.
       
      Any advice would be appreciated.
      • 24 replies
      MarvBear

      Picked By

      MarvBear,

    • American Express Member Since

      MP80 posted a topic in Credit Forum,

      I have come across a credit topic involving data point information that concerns AmEx's D* policy (which no longer exists) which triggered and raises an important question that may be of interest to anyone who has an AmEx credit card in their relationship history with AmEx.

      This is to give credit and courtesy to an excerpt from the @cashnocredit post...
       
       
      "I had an Amex in 1974, which closed in the early 80s. Opened a new one in 2011 but they didn't backdate me then. Had no record of it (which was always paid on time)."
       
      Question? 
       
      Does AmEx have all your previous applications and cards approved and store all positive and negative data indefinitely?
       
      • 42 replies
      MarvBear

      Picked By

      MarvBear,

    • Vig's Points, Miles, Cash Back, Earnings, Redemptions, and Shenanigans 2023 Edition

      TheVig posted a topic in Credit Forum,

      I decided to continue another year of my glorified spreadsheet. 2022 was a disappointment in the shenanigans dept. Most of the dive hotels I stay at did remodels during the pandemic. Not too many WTH moments. Disciplining myself to go under 5/24, allowed me to add a Chase CSP and CFU to the mix in 2022. The various dumpster dive apps I use paid off. To the tune of about $2000 in value.
       
      Inflation being what it is, I'm more hyper sensitive than ever on what spend goes on what card, to maximize spend multipliers.
       
      Credit Cards:
      Amex Gold & Every Day MR 441,390
      Amex Delta SkyMiles 205,415
      Citi MileUp MC American Airlines 69,345
      FNBO Amtrak Guest Rewards MC 135,948
      Chase CSP / CFU Signature Visa UR 101,559
      Chase IHG Traveler MC 66,064
      BofA Customized Cash Rewards Visa (3% Travel) $0.88
      Citi Double Cash MC (2% CB / TYP Everything) 21,186
      Citi Premier MC Thank You Points 34,280
      Choice Privileges Visa Signature 360,660
      WF Active Cash Signature Visa (2% CB Everything) $87.44
       
      Shopping Portals and Apps / Stacking Opportunities:
      DOSH (CB) $18.56
      Rakuten Amex MR Earning. Pays out quarterly. Points Pending: 6857
      Fetch Rewards (GC) 27,439 Points
      Ibotta (CB or GC) $7.65
      Upside (CB or GC) $14.15
      CoinOut (CB or GC) $8.65
      Payce (CB) $18.97
      Receipt Hog (CB or GC) 3156 Coins
      Receipt Jar (GC) 2013 Points
      Receipt Pal (GC) 4725 Points
      Shell Fuel Rewards (Earning AA Miles 2miles/gal.)
      Starbucks / Delta SkyMiles (Earn 1 SkyMile for every $1 spent at Starbucks)
      AA Simply Miles
      Airline / Hotel Dining and Shopping Portals
       
       
      • 170 replies
      MarvBear

      Picked By

      MarvBear,

    • When will this last baddie actually drop off??

      tps7c posted a topic in Credit Forum,

      Hi Everyone!
       
      I have one last bad account, unfortunately a repo, that is still on my Experian and Equifax reports. Before Experian changed their report format, at some point last year the repo account said "on report until April 2023." Well, it's April and it's still showing. Could it be until the END of April? Would it be worth calling Experian's backdoor number and asking about it? Maybe sweet talking them to delete it early? lol
       
      What do you guys think? In comparison, this account was scheduled to drop off my Transunion report in January and was gone in December. Equifax is the worst and it show dropping from the report in July. 
       
      Thanks guys!
      • 15 replies
      MarvBear

      Picked By

      MarvBear,
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  • Posts

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