Automotive Financing
Discussion of Automotive Financing
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Our picks
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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.-
- 61 replies
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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.-
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- 24 replies
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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?
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- 42 replies
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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
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- 170 replies
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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!-
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- 15 replies
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Posts
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Those reasons are generated by FICO for why your score isn't higher. They likely have little to no relevance as to why you were actually declined. 783 is plenty high of a score to get approved for basically any credit product. The reasons for a decline would be other underwriting criteria separate from the FICO score. You'll likely never find out but you could certainly secure message their credit team on their website and ask them for more info. I've actually gotten some pretty useful responses from NFCU via secure message. -
So, first, as noted there are models other than TU Fico 8 that lenders use. if you notification letter doesn't state what specific score model was used, call and ask for your own edification. Second, the reasons stated appear to be an explanation of what factors prevented you from scoring higher. That's nice, but tells you nothing about why they denied you. Frankly, your score is high enough that you would be approved for most any credit ptoduct on the basis of that score. so, it's now safe to assume that you were denied for other reasons. From what you report, NFCU declined to include in the letter why you were actually declined. it's worth calling to ask ro speak with credit underwriter and have a conversation. I 'm wikking ri bermt that you might engage un sprucing your credit score, such that it was now well into the 800's, yet if you reapply, you'll most likely still be declined. -
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I think the TransUnion 783 score is not FICO 8/9, perhaps Navy Federal used TransUnion FICO Auto Score 5 an industry-specific FICO score, meaning it's designed for auto lenders. It's one of several FICO Auto Score versions, each produced by different credit bureaus. TransUnion provides the Auto Score 5, while Experian provides Auto Score 2 and Equifax provides Auto Score 4. FICO Auto Scores use the same data as base FICO scores, but with different weighting, so your base FICO score differs from your FICO Auto Score. -
By Allkindabroke · Posted
I was definitely expressing my surprise to the board and my update including the rejection reason had even more surprises. Before I made this thread, I searched for NFCU Auto and it's been years since anyone posted about their experience so I thought it might be helpful to add mine. Hope I didn't clog up the Creditboards pipes by contributing. -
By Allkindabroke · Posted
The denial letter came today....... TU Credit Score they report is 783 Ratio of revolving balances to credit limits are too high Too many accounts with balances Insufficient time since newest account established Length of time revolving accounts have been established. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, This tells me that pulling all three scores at Experian is worthless because it showed TU = 846 on the day after I put the application in. I'm still scratching my head at the first denial reason. The total card use is $1397 with $800 on my Amex gold which doesn't have a limit and the remainder across 5 cards, lowest limit is $15K with total combined credit $287K. None of the balances are reporting over 1%. I understand the rest of the reasons. I got a 0% 4 payment Sunbit loan in October 2024 because the car I'm trading in needed $3K in repairs. This was paid off in January. Hindsight being 20/20 I should have taken that $3K and put it down on something new. So the moral of the story for applying to NFCU (for me at least) is pull TU on the TU website, get balances down to zero and wait a year after any new credit.
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