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  2. Advanced Credit Topics

    Advanced credit topics such as high-value credit limits, rewards cards and strategies for maximizing rewards

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  • Our picks

    • So I heard that a card with high utilization can negatively impact your FICO even if your overall revolving utilization is good.  But does anyone have any more details of how exactly an individual card's utilization impacts scores?  Is it in % buckets like 90-100% very bad, 0-10% good?  Or is it a scaling % where every penny paid to a balance can help gradual increase FICO.
       
      Im asking this to help a relative who is trying to fine tune their FICO before getting a car loan.  Their overall revolving credit is at about 39% but they have one card thats 95% utilized. Im trying to figure out is there a magical % they should pay that card down to see a noticeable improvement on their FICOs.
      thanks
      • 7 replies
    • Wasn't sure where to post this, as it's kind of a unique situation:  
       
      - I am in the midst of rebuilding my credit. My (real) FICO is around 660.
      - I needed a new car, and on a whim, applied online for a lease.
      - Lease is through the car manufacturer. 
      - Was assigned a delivery date, went in and signed loan docs, made the payment for fees / taxes / registration, etc.... ($~3600) and took delivery of the car.
      - Got the car, and have been happy as a clam ever since.   

      Got home today to find a letter from the finance company (dated 10 days ago) saying that they "carefully assessed my application and concluded' they are 'unable to extend credit, or have offered you credit at less favorable terms than you requested."  
       
      Uhhhh. ....what?
       
      I have reviewed the loan documents carefully, and there is nothing in them about "contingent on final financing approval" or anything of the sort. 
      The letter I received doesn't make any mention of needing to return the car, or anything about modifying the terms of the contract. 
       
      - I've had the car for 3 weeks.
      - They have already cashed my check, and I've made the first month's payment...
      - In 2 weeks, the second payment is due. 
       
      Do I call them up and ask what's going on, or should I just assume it's a clerical error and continue to make payments? 
       
       
       
       
      • 17 replies
    • My first Shop Discover purchase failed to give me cash back credit: http://creditboards.com/forums/index.php?showtopic=518247. So far I haven't had the strength to try to contact them about this and track down an amount less than three dollars. This should just work...
       
      Now I've taken the damn card out of the sock drawer one more time to get 5% for online shopping. YES, I registered for the 5% promotion.
       
      So far:
       
      Amazon.com gift card, purchased directly from Amazon - Qualified
       
      Chefs.com purchase - Does not qualfiy
       
      Soap.com purchase - Does not qualify
       
      Overstock.com purchase - Does not qualify
       
      Amazon Payments (for purchase made from Amazon.com) - Does not qualify.
       
      This card is a #@$^@%^$ joke.
      • 412 replies
    • From EXP
      EXP - 662
      EQ - 643
      TU - 649
       
      From EQ
      EXP - 587
      EQ - 621
      TU - 588
       
      From Credit Karma
      EXP - NA
      EQ - 639
      TU - 629
       
      Why is EQ so low? All the info is the same between them and the dates of the most recent pull is within a day or 2 of each other. 
      • 8 replies
    • I want to use a balance transfer promotion from Chase but it has a 5% balance transfer fee. Looking to get around that if I can so I thought I'd pay my spouse with paypal using the Chase credit cards which will cost 2.99% but then we'll get 1% of that back with rewards so it'll be 2% total. Would Paypal or Chase have a problem with a payment to an individual with the same address?
      • 24 replies
  • Posts

    • It's no surprise that the subject of the story is in Illinois...     
    • Is arbitration the best way to tackle syncrony/lvnv? I asked about this awhile back, but was looking to see if this is still the case.    Wife has a card was with syncrony sent to LVNV for about $1002, wanted to tackle this as we are about to buy her a vehicle.    Thanks for all the help!
    • OP, what you are dealing with is NOT a Rule 5000, so there is not a removal of derogs that would be expected to occur.  As to the potential re-set of time as it relates to litigation will depend entirely on your State law and the specific language in your Agreement with CrapOne.    Reporting limitations remain the reporting limitations...seven years from the charge-off event is the longest that the charge-off should report.  Whether they update to show the current payments remains to be seen. 
    • Could someone help me find the CEO's email? Trying to send a Goodwill letter.   Thank you!
    • I've got the card but I don't remember the language in the footnote...I don't have a BBT account and wasn't going to get the checking or savings for the nominal funds.  As I recall, the 10% was a bonus percentage of the cash-back, NOT 10% of the purchase.    My primary purpose in getting the card was a planned purchase that was just south of $10K and I wanted the 15 months of 0% that was being offered at the time. 

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