fico4cash

Hello everyone, I opened an account online with Schwab on 8/30. I tried to login today 8/31 and could not. I called in and learned the account was closed because I'm on Chex. Pisses me off because they did a HARD pull on Equifax. I ordered my Chex report last week and it should arrive in a few days. Honestly, I don't need a checking account except that Paypal requires it to have a verified account which I need because I sell on Ebay. Anyway, the reason I'm there is bogus IMO. I had a WAMU account and my debit card was "skimmed" while I was in Brazil in in early April 2009. I didn't realize it happened for about 5 days (my account went from +$250 to negative $600). I disputed as a victim of fraud. They ruled against me and I escalated to a supervisor who was supposed to reinvestigate. I don't know if they even bothered but I lost the dispute again. In hindsight I wish I would have filed a police report, it may have helped (even though it would have been in Portuguese). Anyway, they said my PIN was used and I said that happens a lot in Brazil, they place a hidden camera and use strip reader. They said "none of our other clients have reported skimming in that location". I asked "how many clients do you currently have in Rio de Janeiro? No response...whatever! Anyway, I truly don't owe this money. I did receive a settlement offer of 50% ($312) from a CA. Noway I'm doing that, I'm actually the victim because I lost $250! What can I do and what other options do I have in Las Vegas, NV? I don't know if I'm on EWS or Tele yet...will order those next week. All suggestions are appreciated! Thanks. F4C

If you've never had any accounts go to collections, I wouldn't shy away from disputing inquiries. The reason I say that is because even though you don't recognize the company making the inquiry, they could be legitmately collecting for an original creditor. If the inquiries might actually be fraud, I'd sure want to know. Who are the inquiries from anyway? F4C

Caliman10, That's surprising but good to hear! Concord, If we have to keep balances in the 30% range, we need 3 times higher credit limits than what we actually need to use. So, instead of needing $10k and getting a card for $12k - $15k, we need a $30k card. Not very realistic right now. I think people over-react when it comes to credit usage. I've had 90% utilization on $100k in cards for about a year and just got another $59k in cards last month. 3 - 0 on approvals. I would have to say the util didn't hurt me at all. F4C

I'm confused about Ox. It could just be me but the site doesn't explain the program very well at all IMO. I clicked the apply for credit link and see they offer a $5,000 credit account. What amount of books do you have to buy? How often? Can someone please give me a quick run down of how this basically works? Thanks. F4C

Blessed2009, Which 2 credit bureaus are they reporting to? Thanks. F4C

Grey, That's funny coming from someone who liquidates cards by buying coins from the U.S. Mint. That seems like a very bad idea to me. What valid explanation could you give if a credit card issuer ever questioned you about it? It makes you look sneaky....not to mention being a pain in the butt. F4C

Adverse Action

Grey, If it's so bad, why do they even allow cash advances? F4C

Who do I politely ask.....the CS rep who answers or do I need to request a supervisor/dept. or what? F4C

On 11/4 a new hard inquiry showed up on my personal Experian from Barclays. I haven't applied for new credit from them but do have a Bank Atlantic card which is serviced by Barclays. Around that same time, I took a cash advance which I suppose may have triggered an account review. However, to my understanding, AR's are coded as soft inquiries. I'm going to call tomorrow and ask what's going on. Never been late or over the limit. Can they just smack me with a hard like that? I'm going to insist that they recode. Any thoughts? F4C

Hey, What is a USDA loan? Anybody have a link? Thanks. F4C

sgleich, May I ask which CU you're refering to and what limit they gave you? Thanks. F4C

Is this from BBVA Compass? All I see is a Business Classic Visa, no Mastercard. F4C

Excuse the mistake. I've never had a sole prop so I suppose I shouldn't attempt to answer questions relating to them. F4C

black2k, Any sole prop is going to report to personal as it's based on the owners SSN. Regarding scenarios 2 + 4, what EIN would he have to use? He probably should convert from sole prop to a corp or LLC and obtain a EIN. He's going to have to PG the Chase card regardless but with a corp or LLC it won't report to personal. F4C