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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

    • Last week I got an email that my Target Redcard was closed due to inactivity and this week I got an email that my Discount Tire card was closed. Both have been paid off over a year.  Never late on either.  CL on target was 1k and on Discount tire 800.  Not a huge thing for DT..but still.  I was getting close to needing new tires on my car in a few months.  Had Redcard since 2006.  Used it a whole lot back in the day when I had 3 kids to buy supplies and clothes for.  Now it was last used over a year ago probably for christmas or something.  I guess my credit will take a hit now?  I have about 3 more cards that are paid off and I'm sure they aren't far behind closing them either.  No lates on those either.  I've just been really concentrating on paying off the cards I still have with balances on them from.  
      • 26 replies
    • TL;DR at the bottom for convenience. Thank you in advance for any help at all.
      Hey everyone. I’m a long time lurker and user. I started lurking around high school in 2006-2007, with my undeveloped brain trying to build up credit and supercharge my sign up bonus potential.
      In 2014, a close family member passed away from cancer. I used my credit to help pay that debt so that treatment went uninterrupted. At one point the bills got so high, that not only could I not pay them back, but I couldn’t even pay for them as they exceeded the limits of my cards. Debt and credit limits meant nothing to me in a bid to save my relative.
      I’m no stranger to WhyChat’s dispute process. Years later, and many whychat dispute letters, I’ve unsuccessfully removed only one collection out of a handful (tried this process a few months ago).
      Some of these collections and charge-offs are linked to business cards and auto leases.
      Fast forward, I tried something new and managed to get my business addresses removed from every CRA. TU and EX confirmed removed, with EQ still pending but should be successful as well.
      I’d like to start one thing at a time and focus on removing any collections and negative accounts related to those business addresses. Should I send dispute letters out again even though I was just denied a few months ago, prior to the address deletion?
      Next issue is certain collection agencies have been increasing the balance of my collections every month by $20-70 probably to actively hurt my credit. Collections that were set to expire 2021-2023 are now 2026. For anyone wondering the name of this virulent collection agency, it is Cavalry Portfolio. [im desperate to find the light at the end of the tunnel
      TL; DR: business Addresses linked to old collections and charge offs successfully deleted. Should I resend the dispute letters or so them online, since it’s pretty a straight forward mismatch of information?
      Sent from my iPhone using Tapatalk
      • 16 replies
    • I elected to pull the trigger on the new United card the other day.  As expected, there was a pull on EXP.  No instant approval.  I see a pull from the following day on a different bureau (TU). 
      I am curious whether this is becoming their new normal.  Recording still has the 'under review' message.  
      Scores at the time of the respective pulls are somewhere between 820-838 depending on just which flavor of Fair Isaac modeling was utilized...and as near as I can tell, I SHOULD be under 5/24 since the one that would have put me at 5/24 had been opened in the early part of June 2018 (thus being OUTSIDE of the two calendar year window). 
      Last time I opened a non-auto product with them was in the days of the Continental PresPlus card which I ditched after the merger with United.  I actually only expect to keep THIS one for the year since the fee is waived in year one and I want options for the airports that don't have a Centurion Lounge. 
      • 12 replies
    • Hello, I've been playing with my cc debt for a while now. I've opened new 0% accounts as suggested on these threads. When the 0% is over I transfer it to another one with 0%, accounts that I already have open. Now with the situation that we are all in, it's going to be a little tougher to pay more than close to the minimums. We owe a total of $25k, I've also worked with my DH's available credit for the 0% cards. 
      I am so tired of this debt! Our credit is good over 700's. I've thought about a personal loan since we receive lots of promotions on these, are these loans personally guaranteed? 
      Years ago they weren't but so much has changed. 
      Thank you for all the suggestions. 
      • 15 replies
    • First thank you for all the knowledge posted here, I have followed CB off and on for over 10 years. 
      So here is me current credit Pic and I don't know what approach to take... except getting credit one and the AT&T charge offs removed.
      Once I receive me new unsecured Cap 1 I'm hoping that gives me a score bump because I really don't have any open accounts as you can see. Discover said no to their secured card 😢 I have been a member of NFCU since 97 but my account is dormant just need to deposit money in savings to make active. But I was thinking I need to wait until I clean up my TU and bring scores up before trying for their secured card.
      I'm assuming the student loans are hurting me but didn't want to contact them until I got better guidance from you all. 
      I could desperately use some guidance from you all
      Fico 8 eports & scores as of March 10 
      Experian 558
      Citibank AU $6500 limit $4977 =76% usage  - 9 years old never late - I disputed this account due to usage being high and it was removed- no change to my score 
      Belk AU $9000 limit $1666 balance = 20% usage- 20 years old never late
      Care Credit AU$4000 limit $0 -no usage - 8 years old never late 
      Sears - closed AU no negatives 
      CarMax paid closed $19,117 -opened 4/14 closed 7/15
      Acendium student loan 44 lates CO $2872 updated 8/16
      EDSOUTH student loan 10 lates CO $1750 account transferred to another office last update 8/16
      EDU SERV OF AMER student loan CO $1984 account transferred to another office last update 12/14
      FED LOAN SERV- closed exceptional payment history 5/15
      GLESI/ Bank of America -closed exceptional payment history 2/12
       US DEPT ED/ GSLI closed CO $1017 seriously past due last updated 2/20
      US DEP OF EDU/ GSLI closed CO $2701 seriously past due updaye2/2020
      Cap1 3/20 - unsecured card $300 limit in mail 
      Discover 3/20 - declined secured card 
      TU 509
      Belk - same 
      Care credit - same 
      CreditOne -paid- closed unkown payment history -CO bad debt updated 1/17 
      Discover -same
      NFCU AU- closed updated 5/23 $20k limit exceptional payment history 
      All the same student loan info 
      AT&T  Mobility $1206  collection opened 9/18 updated 2/20
      Inquiries Cap 1
      EQ 535 
      Citibank same 
      Belk- same 
      Care credit same 
      Creditone same 
      Discover same 
      NFCU SAME 
      CarMax same 
      Credit union atl $3803 CO auto- opened 4/11 CO 12/14 - consumer disputes 
      EDUC SERV AMER same 
      FED LOAN SERV same 
      FED LOAN SERV same 
      US DEPT EDUC same 
      US DEPT EDUC same
      Cap1 same  
      • 33 replies
  • Posts

    • Every time I see someone being approved for a car loan equal to 70% of their annual gross, I'm encouraged that if one day I decide to pull a "Thelma & Louise" exit, I can do so in class, style and sportiness  (I'll make sure I elect GAP coverage ... and please don't complicate a response with insurance intricacies!). 
    • Positive reinforcement appreciated.  Unfortunately, this will likely have to sit on the back burner for a week.  I leave this morning on a 1 week trip that takes me to NOLA and Memphis this week.  (I take modest comfort in the general COVID case decline these past few weeks in LA/MS/TN).   Bev's no mouse.  When it comes to market research, she's a true lion these days.  But she's simply not nimble when it comes to personal finance; I need to be on the call.
    • You understand that it appears that you failed to adequately vet an offshore investment company with whom you trusted money, even through you know from prior experience that if the experience went afoul, you lacked adequate legal remedies as backup?   Ok, enough Monday morning quarterbacking.  I will comment that your criticism of Chase's fraud department seems unwarranted.  The onus is upon you to convincingly document fraudulent activity.  While I'm inclined to believe that an element of fraud was involved in your transactions, I don't believe that what you likely documented to Chase was remotely sufficient to establish it definitively.   My suggestion of having a lawyer review the details was based upon a premise that most lawyers will engage in an initial consultation for a "modest" fee to lay out your prospects and how to proceed if you want to pursue action.  Of course, you'd have need of a lawyer practicing in a fairly specialized field.  I'm not prepared to recommend who to consult.  However, I would hope that you also network in the finance/investment field and can source suggestions there.
    • Wow. This guy dreams big. A decade after getting out of the slammer for gambling and real estate scams he opens up a multi-level marketing scheme to fund small business with high interest loans. Appears the purpose of the MLM setup is to get around federal registration requirements since he took in $500M from some 1200 people. Serious money. The top biz recruited a second layer and provided them with materials to set up LLCs. By washing the investments through these smaller entities he appears to be trying to bypass federal securities regulations which limit the number of investors allowed before one has to file certain registration docs. or have some other exemption. It's complicated. Patchwork of both State and Federal legislation starting with the so called "Blue Sky Laws" passed last century. SEC charges are civil. The SEC has no authority to bring criminal cases but they can and do often forward the info to the DoJ which does. The problem is that securities laws are complicated and explaining to 12 people what the crimes are and proving them is one of the toughest jobs the DoJ has.   He's been doing this a long time and filed thousands of lawsuits to collect money these businesses owed.   From the Complaint:   So the only criminal case filed so far is possession of guns by a felon. The fool was bragging to undercover agents about all the guns he had.   https://www.sec.gov/litigation/complaints/2020/comp24860.pdf   BTW. Notice the suit was filed "UNDER SEAL"  It was released by accident. 
    • -I’d be careful on paying the Charged-off accounts (you’ll reset the statute of limitation) -Chime doesn’t report to the bureaus yet -Non traditional tradelines (self, boost, etc) are not calculated in all scoring models -add yourself as an authorized user to someone’s credit card(s) that are older than 5 years,never been late, used in the past 90 days, and has a balance under 10% of the limit -most landlords don’t have access to full credit reports just a pass/fail report which is strictly based on score so before you apply dispute your negative items and that will artificially increase your score Good luck! Sent from my iPhone using Tapatalk

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