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cash AND 800 credit
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cashnocredit reacted to a post in a topic: Credit card approval: FICO Score 8 or FICO Bankcard Score 8? One is so high, the other isnt.
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cashnocredit reacted to a post in a topic: 837 avg FICO 8 score — App spree question!
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cashnocredit reacted to a post in a topic: AMEX Fake Application
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Fifteen-point impact from a five-year-old 30-day late?
cashnocredit replied to Sidewinder's topic in Credit Forum
Yep. FBNO and CSP are a bit high for best 800ish scores. Also, total util over 5% will start to have an effect. OTOH, if you were over 800, the one late will have a bigger effect. Basically, the higher your score normally, the more sensitive it is to things like high util on a single card, old lates, or any baddie. And, as @hdporter noted, your scores are already quite good, -
Fifteen-point impact from a five-year-old 30-day late?
cashnocredit replied to Sidewinder's topic in Credit Forum
I'm not surprised the old late is causing a smallish drop relative to the other CRAs that don't have a late What does surprise me is that with such a diverse file your scores on the clean files aren't > 800. To me that's what stands out as odd. -
Burgerwars reacted to a post in a topic: This Still Bugs Me Years Later - Wells Fargo Bank Treats Me Like a Conman
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WF is my oldest bank. Opened an account there in 1977 because they had ATMs all over. But also because BofA implied I was trying to pull a fast one after they lost a deposit check. I had deposited the check and the clerk initialed the deposit entry in my check book. (Yeah, that's the way they did things way back then). They did invite me in to look through a drawer they have full of various loose checks. Found my paycheck among the clutter. WF has never done anything really squirrely. At least to me for over 4 decades and they came in handy for notary and special embossing for transferring stock certs. Only time I had any issue was depositing a very large check from a money market account across the country. It was at a branch I'd never been in before and they acted like I was trying to commit some big kind of fraud. Wouldn't even take the check with a multi week hold. Went to the branch I normally used. No problem. Didn't even raise an eyebrow. So apparently branches vary.
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MarvBear reacted to a post in a topic: Why Americans are struggling with car loans
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cashnocredit reacted to a post in a topic: Do you ever get annoyed with notices to switch to paperless statements?
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shifter reacted to a post in a topic: Do you ever get annoyed with notices to switch to paperless statements?
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Burgerwars reacted to a post in a topic: Do you ever get annoyed with notices to switch to paperless statements?
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TheVig reacted to a post in a topic: Why Americans are struggling with car loans
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Why Americans are struggling with car loans
cashnocredit replied to hegemony's topic in Credit Forum
I bought my current car over 14 years ago. The damn thing has been flawless. Just normal service and tires from time to time. Sometimes I wish it would break down and give me an excuse to get a new one. Then sanity returns. -
cashnocredit reacted to a post in a topic: Credit card approval with abnormally high monthly debt
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MarvBear reacted to a post in a topic: Credit card approval with abnormally high monthly debt
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RehabbingANDBlabbing reacted to a post in a topic: Credit card approval with abnormally high monthly debt
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Credit card approval with abnormally high monthly debt
cashnocredit replied to pianomom321's topic in Credit Forum
Most CC issuers ask for income you expect to have access to. Perfectly fine then to include the spouse's income. Especially appropriate in the situation you describe. -
With 4 missing accounts, it sounds like there is something on those 4 that is causing them not to be included. Go to their websites and check that your address and phone numbers are correct. Might also have the wrong SS# but that won't be on their website. Might call each of them and check that they have the right SS#.
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cashnocredit reacted to a post in a topic: Newbies intro to the marvels of Bob Wang, FICO calculators, the Master Graphs thread, etc.
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hegemony reacted to a post in a topic: Charge Off Rules
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The creditor can report the balance even though it's no longer an asset on their balance sheet. At least until the SOL for suing runs out. Then they should issue a 1099-C and clear the balance but can still report the chargeoff until the reporting period ends (7 years but shorter in some states). I think the IRS does have some rules that require them to make significant efforts to collect and if not they can be required to 1099-C earlier. Mostly that's between them and the IRS. Best way to handle it is to negotiate a settlement. Ideally a pay for delete. Then you'll get a 1099-C if the settlement is lower than the debt-$600.
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'Girl Math' social media trend helps justify overspending habits
cashnocredit replied to TheVig's topic in Credit Forum
Back in the early 80's, the highest paid employee in our small company of about 20 peeps was a woman. And by highest paid, I mean higher than everyone else including the CEO. Why? The reason was she was expert at writing UNIX drivers in C and was also a good writer of documentation. That's a rare, and valuable combo. Sadly (for us), she left after a few years to spend more time with her kids and start a C++ training/consulting biz with her husband. Girl math? Ridiculous. -
Goku4 reacted to a post in a topic: Credit Karma "Guarantee" or they pay me $50
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8ball reacted to a post in a topic: Credit card debt just broke 1T
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Yep. I should have been suspicious too. At that rate it would be hard for banks to make money from CCs. Big difference between the percentage late and the percentage change. @8ball dug up more reasonable numbers.
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cashnocredit reacted to a post in a topic: Credit card debt just broke 1T
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cashnocredit reacted to a post in a topic: Credit card debt just broke 1T
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Agree re the 1T$ CC debt. It's a click generator. I'm more concerned with the 7.2% of CC debt being >30 days late. And it's higher than in anytime in the last 10 years. There's a dynamic process where during Covid and the govt. cash payouts, CC debt declined. That's now so long ago. The accelerated rate of CC spending seems like people making up for lost time at the cost of their financial stability. And easy to do with inflation kicking in. This data is only through Q2. Concerning.
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cashnocredit reacted to a post in a topic: Credit card debt just broke 1T
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Credit card balances jumped in the second quarter and are above $1 trillion for the first time (cnbc.com) Total credit card indebtedness increased by $45 billion in the April-through-June period, a rise of more than 4% and just above $1 trillion. The Fed’s measure of credit card debt 30 or more days late rose to 7.2% in the second quarter, the highest rate since the first quarter of 2012.
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Credit Karma "Guarantee" or they pay me $50
cashnocredit replied to cashnocredit's topic in Credit Forum
I guess since I hadn't logged in for quite a while, CK decided to send me a follow up email. Sheesh. I've never app'ed for a CC from CreditKarma, CreditSeseme, MyFico, etc. -
Credit Karma "Guarantee" or they pay me $50
cashnocredit replied to cashnocredit's topic in Credit Forum
I have zero interest in Citi's Custom Cash card but I did find the approach interesting from a marketing perspective. CK's biz model is based on a kickback from banks that get CC customers from their links. Pretty standard stuff. But there is a subset of folks petrified of rejection no matter how unlikely. Seems this might appeal to these consumers. The biz model still works based on the commission exceeding the fairly rare $50 loss.