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
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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.-
- 67 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.-
- 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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By sinnerforever · Posted
Hi everyone, Looking for Arizona-specific advice on an auto repo deficiency. I personally guaranteed two company vehicle loans(long story short, boss said if I want to stay employed, I need to do this favor). The business later failed, both loans became delinquent, and both vehicles were repossessed. One lender, Chrysler Capital/Santander, has already sold the first vehicle and sent me a deficiency notice for about $20k. I’m still waiting to see the final deficiency on the second vehicle. These were company vehicles, but I understand I may still be personally liable because I signed/guaranteed the loans. Before I pay, settle, or wait for collections, I’m trying to understand my options. Main questions: No way to get myself out of the personal guarantee part now, correct? What documents should I request from Chrysler/Santander to verify the deficiency? Should I ask for pre-sale notice, proof of mailing, auction/sale records, fee invoices, payment history, and GAP/service contract refund info? Is it better to negotiate now before lawsuit/collections? In Arizona, how often do lenders sue for auto deficiencies around $20k? If they get a judgment, can they garnish bank accounts, brokerage accounts, or 1099/self-employed income? Is there any useful defense if the vehicles were company vehicles but personally guaranteed? -
I got out of credit card debt several years ago using this method! It's fantastic but you must follow it! Now I'm working on my mortgage and car debts and it's exciting to see how the debts just rolls off!!! Love it! Congratulations -
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Amex Hilton Surpass. 150k Hilton points for $3k spend. $150 AF waived first year. -
By PhoenixDown · Posted
CSP approved with 24k credit line [100k signup bonus] i originally had the CSP when it first launched and downgraded to a Freedom about 4 years ago. I qualified for the sign up bonus! I am surprised at the credit limit as I thought I was capped out. This brings me to 70k and nearly matched my CSR.
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