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Jeff15

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  1. Thanks for the response. I'm actually not so much worried about the inquiries. I'm more concerned about my general credit, specifically the impact to AAoA and possible adverse action on my existing credit card account. My guess is that I'm probably overreacting, but I just want to make sure I'm not doing anything dumb.
  2. I got some help previously about opening new accounts, but I was curious more about the impact and possible ramifications. I only have 1 credit card in my name, and it only reports on Experian and TransUnion. The rest are AU cards. I have 8 accounts on Experian and TransUnion and AAoA of about 21 years. My Equifax report is a bit thinner. I pulled CCT, and I'm at 777 EX, 782 TU, and 789 EQ. I have been thinking about about a PenFed credit card and an AMEX revolver. I also may be cosigning a small student loan. I'm not certain on this yet, but it's a possibility. I know that this will cause a score hit of some sort (drop in AA), but I'm not sure how severe. I was thinking about forgoing PenFed and just doing AMEX, but I can't make up my mind. Can anyone give me some insight? I would like to avoid permanently damaging my report in some way. I don't know if 2 cards in such a short time is too much. I appreciate any help.
  3. I am hoping to get some advice. I am thinking about applying for a credit card with PenFed, but I don't know if I would be approved. Most of my positive credit has aged off, so I'm now left with 5 accounts: 1 paid auto loan, 1 paid/closed HELOC, 1 paid/closed credit card with $30k limit (28 year history, which I stupidly closed about 5 years ago), 1 high limit AU (primary card we use - 7 years of history), and 1 AU Amex charge card (very little activity). I have no late payments, delinquencies, etc. I do have 1 other card in my own name from a local credit union ($25k limit / 25 year history). Unfortunately, they only report to Experian and TU, so it doesn't show on Equifax. I'm guessing that my score is above 760, but with the thin file, I don't know. We pay the credit card before the statement cuts (leaving $1-$2), so utilization is never above 1%. I don't know if PenFed will consider the AU or my closed CC at all. I have good individual income and no debt, so I should be fine there. I would also like to apply with Amex, which I know is an Experian pull. I have waited to apply, because I use my individual card heavily for business. I pay in full each month, but it's not unusual to show 50-60% utilization. If I know I'm going to apply, I can pay it before the statement cuts. Do you think that a new PenFed account reporting on Experian would hurt my Amex chances, or would it be helpful? Thank you in advance for any advice.
  4. I recently was denied a revolving account based on information from my Equifax report. I was very surprised, because I know that my D&B and Experian are strong. We watch everything very carefully. I had never actually seen my Equifax report, so this was my first time reviewing it. I am so confused by the report. On the first page, it says that we have 2 accounts and have been credit active since 2002. I don't know where they got that date from, since we started in 2004. On the report, there are a total of 8 accounts (not 2 like the summary page indicates). 6 are positive and 2 show past slowness. The ones with delinquency reference 2006 and 2007. The report doesn't show the creditor name only "Commercial Card" or "Service." On the last page, they have a sheet with identifying business information. It looks like they have us mixed up with another company. There is an alternate tax id listed that is not ours. Do they keep trade information indefinitely? I'm surprised that slowness from 2006 would still even be on the report. I know that business reporting is different from consumer, but don't they purge payment data at some point? I have so much to correct on this report, I don't even know where to start. Their own dispute form says to list the creditor name, and the report they provided me doesn't show it. Thanks in advance for any input.
  5. The DOFD is 12/2013. She is in NJ. As an example, this is how it's reporting on TU (EQ and EX also the charge off amount as the monthly payment): Original Charge-off: $7,265 Pay Status: >Charged Off< Terms: $7,265 per month, paid Monthly for 60 months
  6. It is the OC reporting. It has not been sold. All reports show a monthly payment of $7,265 which is the amount of the charge off. The actual payment amount was $280. On a report from last year, $280 was listed as the payment amount. I don't know when they changed it to $7,265. The rest of the reporting appears to be identical. Are they allowed to report it this way?
  7. I wanted to see if anyone could give me some input. I've been helping my girlfriend with her reports, and we've made great progress. One of the accounts is a charged off loan, and it is showing the charged off balance as the monthly payment. It's been a major issue from a DTI standpoint, because it looks like there is a huge monthly obligation. Does anyone know if this is accurate and if it's allowed to be listed that way? She thinks that she has an older report where it was showing the normal amount (the original payment). Thanks in advance for any advice.
  8. Thanks. I went ahead and submitted the change yesterday. Does it really take 7+ days to update? I believe that's what they indicated in their email.
  9. I was looking at my D&B report today, and I noticed that they still have my old phone number. I'm not sure why. It's even incorrect on the Google listing. What is the best way to fix this? I thought that it would get updated automatically, but that hasn't happened. I was going to request an update with D&B. Will they hassle me to buy something if I do that?
  10. Does anyone know if I can put the card in a different name than my BJs membership? I thought I read that they allowed someone here to do that. I have two entities, and I want to use the one with stronger business credit. I'd prefer not to have to open a second membership. I called, and the representative said it's not possible. I'm not sure if she was misinformed, or if they are able to make exceptions.
  11. Thanks! That exactly what I wanted to know. I don't understand why they don't make it clearer on their website.
  12. It's not the same bank. My savings account is at my credit union. I keep it separate from my checking, so that I'm not tempted to touch it. If I need to move money, I usually just ACH it to my checking.
  13. Has anyone paid their Chase credit card from their savings account? I had a pretty large bill this month, and I had planned to move money from my savings/money market to my checking. I totally forgot about it, and my bill is due today. I added my savings account on the Chase website, and I made the payment. I saw a note saying: "If you want to enter an account type other than a checking account, please check with your bank." I've paid my Discover card from my savings multiple times and never had any issues. I assume that warning is for people who have savings accounts that don't allow electronic debits.
  14. 1099-Cs are an IRS requirement and may indicate a debt is "canceled or forgiven" but it can also be simply because the creditor didn't actively pursue collecting it for more than a few years. So it may, or may not, indicate the debt is void. There have been some court (bk) rulings that it should be canceled but most have ruled that it does not automatically void the debt. Yes, I've seen those references too. They actually sent a letter prior to issuing the 1099C stating that they were ceasing collection activity and would be sending a 1099C. I'm assuming they are considering it canceled/forgiven based on the verbiage in the letter.
  15. I have been helping my girlfriend repair her credit, and I'm trying to find out the best way to dispute the remaining negatives. One of the accounts is an unpaid charge off. She received a 1099C this past year for the whole amount. The reports still show the full balance and a past due amount. Should this now be changed to zero? Does this help me with disputing it? There is also a charge off that she paid in installments. I don't know the exact agreement, but she said that she repaid the entire debt. The creditor would only update the balance if she disputed the account. They are still showing $400 remaining, which I don't believe is correct. It should be $0. Do they have an obligation to update it zero? Does this help at all with a dispute? Thanks in advance for any suggestions/advice.

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