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Everything posted by cashnocredit

  1. Previously this had been set to expire April 20. Free weekly credit reports during COVID extended through December 2022 | Consumer Advice (ftc.gov)
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. Thought I'd throw out some info for people to plan. The monthly payments on a 30 year mortgage on the average home in the USA has gone up over 50% in the last year. Yeah, you heard that right. Over 50%. Interest rates went from a bit below 3% to a bit below 5% (latest data Feb 2021-Feb 2022). Average home prices have increased just under 20%. The 2% interest jump alone increased mortgage payments 27%. Since these add on top of each other it comes to a bit over 50%. I had no idea it was that much until calculating it just now. In the future, for the same $ mortgage, each 1% increase in interest rates will increase your mortgage payments roughly from 12% decreasing to 10% each step up to 9% APR. That was the APR on my condo in 1977.
  7. A handwritten (unusual) offer to buy my condo. For cash. As is. Usually, I just get phone calls. Like every week. What's going on out there. Home prices rose 20% on average in the USA just in the last year. And mortgage interest rates are up 1.5%. That translates into a bit over a 30% increase in monthly mortgage payments assuming a 20% down. What could go wrong!
  8. Thanks for the clarification! Sounds like you are in good shape. Only a few questions/suggestions. Why would you keep the United card with a large AF if you aren't going to use it? Usually a good idea to let charges post before PIF. While the larger balances can drop FICO scores at the time they also provide visibility to your other banks that you have a high spend and can handle it. Paying early before the charges post doesn't provide that visibility and may impact your ability to get higher CLs. since they can't see most of your spend on the account review soft pulls they all do regularly. Highest possible FICO scores mostly matter when applying for new credit and you can prepay to maximize scores when wanting to maximize scores for things like mortgages to get the best rates.
  9. 3 CCs from the same issuer (Chase)? Diversify, diversify, diversify. You never know when a bank might decide you aren't their ideal customer and close all your accounts. I have 4 CCs and an Amex charge card. I particularly like Amex charge cards because you can put really large charges on them w/o affecting your credit scores. My regular CCs are a mix and some are so called "flexible spend" cards that let you charge over the CL. Back in the early days this meant you had to pay down to the CL on the next bill but that's long gone. Now it just shows up as a balance with the payments calculated as usual. As a test, I charged an extra 10k over my CL on my Chase card to see what would happen. This on a bill I would have normally put on Amex. Charge was approved and the next statement has the normal, minimum payment that would go on decades if that's all I paid. FICO scores dropped almost 100 points but there was no other impact and recovered the next month. I always PIF though and don't charge anything I can't pay. Credit cards are really neat things so long as you don't use them to go in debt. Then they are Hell. If I were you I would not have closed the Chase cards. CSRs differ and you might have gotten a bad one. I've had fraudulent charges on both WF and Chase cards and found them both easy and fast to deal with. So your experience might have been an anomaly. In any case, Diversify. And don't make hasty decisions.
  10. Sort of a First Premier CC for Londoners. Gag me with a spoon.
  11. The problem was card theft before the consumer received it. Hence was able to do a card present with verification the chip was read. Issuers assume any card read with a chip was done with the actual CC. This is a weakness of not requiring pins which the thief wouldn't know. It's relatively rare since most issuers require some activation process that would presumably be specific to that card, not a re-issued card. Looks like BofA's process has a weakness.
  12. The initial order is irrelevant. It was canceled. Then they sent you a different product without approval or consent. So any agreement is also void. You are bound by nothing and you should make all that clear to the collection company.
  13. I agree to a point. I, and many here, would have no problem calling them. The reason I recommend written communication only is that the OP is a newbie and has little experience with debt collectors. He might be swayed by some of the tricks the more disreputable pull. They are more reluctant to try that bs in writing.
  14. I agree except that I'd insist on mail or email communication only. It helps avoid, um, "misunderstandings." Also, just because they could do a consumer collection as they apparently are trying, doesn't mean they have significant experience doing so. This sort of "debt" is a low frequency orphan. It's not going to packaged up and sold in bulk to a debt buyer. It should be the end of the road for them.
  15. Don't sweat it. The problem here is that Lenovo is trying a fast one. They know full well what happened having the same email records you have. It's kind of an orphan. Not consumer debt. Hell, it's not even a legitimate debt of any kind. So they are trying a Hail Mary by opening a commercial claim with their commercial debt agent. As a "commercial debt," it shouldn't show up on your credit reports. And while they could sue you for the $300 that is mouse nuts compared to the costs. And after reviewing the correspondence, which they are not aware of at this point (see the form Lenovo fills out), odds of a lawsuit are slim and none and I think I saw Slim leaving the building.
  16. Looks to me like Lenovo is trying to collect the debt as if it was a commercial debt. And it appears it wasn't as the OP used a personal credit card and no indication it was sold to him as a business. Lenovo doesn't have a leg to stand on let alone 4 to sit on.
  17. The "they" that told you the matter was settled was the credit card issuer. And, from their POV it was. However, the credit card company had no authority to tell you that you could dispose of the chair as it wasn't their chair. It's a waste of time to interact further with the card company as you now have no common interest. Lyon is a commercial collection agency and is acting on behalf of Lenovo. Your issue is entirely with Lenovo and their agent, the collection company and the credit card charge, reversal is not even a factor. Here's the form Lenovo fills out at Lyon: Lyon Collection Services, Inc. Submit Claim (lyoncredit.com) Feel free to communicate with them just as you would with Lenovo. I recommend snail mail with copies to both Lenovo and Lyon. Include the cancelation notices and state affirmatively that you never authorized any extension or change in product.
  18. So the business stated the chair you ordered had been discontinued and offered a substitute in an offer that you didn't accept. At this point you no longer have a contract/agreement. The company can send you whatever they wish but if you didn't order it different rules apply. It's as if a company just randomly sent you something by mistake. You did the right thing asking for a shipping label to return it multiple times. OTOH, you could have just as well told them a chair arrived you did not order and that, being nice, you will give them 30 days to arrange to pick it up or arrange for its return and after that you will charge them a $50/mo storage fee and eventually, if they don't get the chair, donate the chair to charity. BTW, the credit card issuer has no involvement at all since they canceled the charge. But they also had no right to tell you that you could do whatever you wished with the chair. It wasn't their chair. Oh, could you provide the name of the collection agency and a bit of the wording.
  19. Back about 15 years ago I only had one WF debit card and no CCs. My card's mag stripe got read, most likely at a restaurant. The digital data was wired to folks in Australia where they tested the card at on online shop for a few dollars then reversed it. They then made a physical card and went shopping. Bought $6,000 of gold and jewelry. By pure luck I had logged into my account to check on an expected transaction and noticed the pending charge posted earlier that day. Immediately called the bank and terminated the card. I was told I couldn't file a fraud report until the pending charge was posted which it was the next day. Took about 2 weeks for WF to replace the money. I only had a checking account with WF and their regular debit card. No idea how long that would have gone on if I hadn't had the pure luck of logging in at the time but there was a lot more money in my checking account and it likely would have been drained. Apparently automated fraud detection systems weren't that good back then. I bought gas earlier with the same debit card and there was no way me and the card could have been in Australia in the interval.
  20. There's something special about egrets. The tall white birds with incredibly long necks just move in such a relaxed manner. It rubs off. Very pleasurable watching one as it strolls slowly across the yard.
  21. Excellent! It's feedback from people experiencing how these new scores impact them that helps all the rest here.
  22. Hard to find any free sources of VS 4.0 but from their description it's likely to be similar to the widely available VS 3.0. (credit karma, etc) if your balances haven't been going up. Probably higher than VS 3.0 if your balances are declining over the last 6 months.
  23. VantageScore Models | Credit Score Models | Score Models + First and Only Tri-Bureau Scoring Model to Incorporate Trended Credit Data – Is it fair to only look at the past month when making a credit assessment? VantageScore 4.0 uses “trended credit data” which examines consumer credit behavior over a period of time instead of a simple snapshot. Hmm. Trended data isn't exactly new. Their claim isn't as unique as would appear. By specing it as "tri-bureau", they can make the "first" claim but the reality is that it's been around a while with each CRA providing their own version usually piggybacking on Fair Isaac. That said, trended data is significant. Instant in time doesn't capture risk such as gradually increasing balances. Larger lenders have used trend info to augment FICO scores for years. The real question is what percentage of lenders use any version VantageScore for decisioning? It ain't large.
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