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    cash AND 800 credit

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  1. Unfortunately, not. However, The Discover account should remain on your credit reports for around 10 years. Even closed a good account has a positive effect on credit scores. So take the opportunity to open some card you will actually use and benefit from. BTW, I had a Discover card (originally from Sears) that was closed somewhere around 2000. I had it for about 20 years but never used it. They just kept renewing the card when it expired. When I learned about credit reports (2009) the Discover account didn't show up on them even though it was less than 10 years. So it might fall off sooner if completely unused. You should pull your reports and see. Through the end of the year you can get free credit reports from the CRAs every week because of Covid-19. annualcreditreport.com
  2. Hey, I was in a worse situation. I was retired but too young for social security. So nearly zero income at times. I also had no credit cards and my credit reports were thin and bad with a few chargeoffs, paid tax lien and no history of credit. Within 2 years I had 4 credit cards two of which were initially secured that unsecured after 6mo to a year. I also had a paid off home, investments, and such. My actual taxable income varied from 0 to mid 6 figures. What I found when applying for CCs was that while all asked about income, some also asked about assets/savings/home ownership and such. Creditors are supposed to consider both income and assets along with existing debts. So here's what I did: If they only asked for income I would estimate my income at around 2% of my net assets. If they asked for both income and assets, I would take the lower of my prior year's income and an estimate income for the next 12 months and also declare assets. Even though I state I'm retired on all my credit apps, I have never been asked for income or asset verification in the 13 year's since apping for my initial CC and not then because it was a secured card.
  3. Yep, and your points are reflected in this article that goes into similar aspects of that story. 1 in 3 Americans earning $250,000 or more say they live paycheck to paycheck — are they really? (msn.com)
  4. Unreal. Bloomberg piece carried on MSN. One-Third of Americans Making $250,000 Live Paycheck-to-Paycheck, Survey Finds (msn.com)
  5. Argh, I hate articles like this that leave out critical info needed to have some real understanding of the problem. For instance this: Sounds really bad. Pretty much anyone that spends more than their annual income is going to have future issues and it's ultimately self limiting. But is it as bad as it seems? What isn't stated is the base line of how many spend more than their annual income. If it's actually 2% normally then that would make it 3% for those using mobile phones. OTOH, if it's 10% then the numbers come out at 15% for the mobile spenders. Without the base line numbers it just looks like a click bait scare story.
  6. Yeah, that's probably it. Amex has been doing something similar trying to entice cardmembers to spread out payments or get a fixed term loan. Interest rates are quite low for the loan but going up recently. Looks like the banks are fishing waters that are pretty fixed out. Not a chance in hell I'm ever going to take out a loan unless they pay me.
  7. Interesting email offer from Citi. A "Flex loan up to 20k" Term loan where you pick the interest rate and amount. What's particularly different about the offer is it says no credit checks, no application, Just choose what you want. Huh!?
  8. Citi approved me for a secured card when the only things on my credit reports were several paid collection accounts and a paid tax lien and one other secured CC just a few months old. That was my only positive account closed or open. Pretty clear I was rebuilding however, none of the collections were credit related and I had a positive deposit account history with Citi.
  9. Alright. This is ridiculous. In the last week I've gotten one letter, with my name and home property description properly labeled and seemingly custom written asking if I would be willing to sell for cash in 2 weeks. And 3 phone calls asking if I would be willing to sell my condo including specific info like the buyer was a biotech exec. and needed to move immediately. (Condo is close to UCSD and San Diego is a bio-tech leader). The guy was legit. Knew the neighbors and neighborhood. Cool. But another of the phone calls was rather curious. Caller stated they had been driving around with a friend and happened to be in the neighborhood, saw my home, and was wondering if I might consider selling it if the price was right. A few problems with the call: 1. The chatter in the background indicated they were working in a call center. 2. It simply wasn't possible they were driving around and saw my property. It isn't even on google streets, only Sat view. Home prices here are up +20% from a year ago and increases on mortgage interest rates mean the 30y, monthly payments are now almost 60% higher than they were for the same home a year ago. This panic buying makes no sense. Probably near the bubble max. BTW, I take cold calls because I have a general interest in trends in scams and sales techniques. I'm not angry at the callers. Mostly feel sorry for them.
  10. Previously this had been set to expire April 20. Free weekly credit reports during COVID extended through December 2022 | Consumer Advice (ftc.gov)
  11. I had a Discover card back in the mid 80's shortly after Sears started offering it. I had it about 15 years or so and they would mail a new one each time it expired. Until they gave up. In all that time I never used it even once. I don't recall how I originally got the card. Not something I would have apped for. I think it was a phone call offer.
  12. Get a copy of your Chex report and see exactly what data they are collecting. Supposedly they only focus on adverse checking activity like bounced checks but the list in your letter far exceeds the data they are reported to collect. This is very strange because it lacks any normal reasons people have a problem with Chex Systems.
  13. Because of the pandemic, for the last 2 years you could get credit reports for free every week instead of every year. That is supposed to end this month. Get em now. Don't wait. Annual Credit Report.com - Home Page It's possible they may extend it. Would be good PR.
  14. All my FICO 10 and 10T scores (there's 8 of them, EQ and TU) are between 822 and 838. Very similar to FICO 8 scores. Bankcards are the slightly higher ones in the 830's. All the others in the 820's.
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