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Found 85 results

  1. To raise awareness, I'm going to keep a running thread on credit and banking issues caused by "computer glitches." Here is an ACH payment problem caused by a computer glitch. Thanks PotO for the explanation I appreciate that. A second checking account is free and you can keep a $5 balance. Get a debit card which then becomes your new CLOC Credit Card.Is it looked upon negatively (like using an overdraft) if you use the CLOC regularly and PIF every month? I ask because I always have side projects with friends who find things to fix up and flip. I could use it as a slush account to fix and flip stuff. That way my cash balances stay more consistent if I ever want to apply for a "real" loan or line of credit. I've never tried, but I think it might be ok.I use my $25k Penfed PLOC anywhere from $5k to $20k every month and always PIF and never a problem. Of course I learned the hard way in the first month that they report the balance of your PLOC on the last day or last business day of the month to the credit bureaus and NOT your statement date balance. I could do a lot more fix and flip projects (not real estate) if I had a higher line of credit somewhere, like say $100k. Any suggestions on where to look? I was thinking Chase since I carry large bank account balances with them and have my business merchant account with them where I run over $200k a month through, but they pull Experian (frozen) and I have 2 baddies left on EX and a FICO 08 of 670. My TU & EQ are both 750+. Any suggestions other than switching my banking relationship? I am open to that also though. Chase doesn't have PLOC on the personal banking side. Perhaps on business side they do. I think it's mostly credit unions that have PLOC products.Ok, thanks. I just started building my business credit, so will look at a BLOC. Since I put over $200k every month through my merchant account with Chase (zero chargebacks in over a year), do you think I have a chance of a BLOC with them, even though my EX is inferior to my other bureaus at 670? I would have to unfreeze for them, but like I said earlier, my EQ and TU are 750+ and clean as a whistle. I'm not sure if that would be a help or not. I also use Chase Payment Tech and as far as I can see there is no practical connection between them and the actual banking. Seems like there is no connection as I have called Chase due to my merchant ACH not showing up and the Chase Bank rep was oblivious to why it could be and live transferred me to Payment Tech to resolve the issue. Twice in the past year they have had computer glitches that caused me to not get my ACH the next day and thankfully it has not been a problem for me. Why I tell people NEVER write checks on the "come", expecting a regular ACH, etc that shows up 99% of the time. Always make sure if it doesn't, you can cover it. Bank errors DO HAPPEN, but it will be YOU that will suffer the consequences if a payment or check bounces. Another good reason to have PLOC's or BLOC's as backups and ASK your bank to use them as overdraft protection because they will not always do that. A lot of banks will also let you tie your credit cards to your bank accounts as an overdraft measure. Most banks are getting away from this, but it is an option. Banking is an art, not a science. Relationships at your bank or CU are critical also. Have at least one person at each branch that will go to bat for you. Donate to their spouse's charity, take them golfing, happy hour, etc. Personal relationships are still the key to the "edge" in today's digital banking era.
  2. Pre approved Blaze MC offer. Sent to shredder. Pre approved Sync BP Visa offer. Sent to shredder.
  3. laina1978

    Net30

    Hey trying to help my boyfriend build his business and I am having a hard time with tier 1-net 30. So far he had Uline but Quill didnt have an option He did newegg and cleanitsupply. He tired to do Supplyworks but that didnt give an option. If anyone can send updates list please with success we want at least 5 tier 1 Net 30;s.
  4. I just woke up and saw an email from Experian Credit Tracker for: 1. New account from ELAN reporting on the report 2.. Credit limit increase from $1,000 to $3,000 on my Target/TD Bank account. I don't know why TD Bank is doing CLIs. I have a few CLIs report recently. But TD Bank has no pattern for CLIs. May be I should call and ask. :-) So, what did you get in your email today?
  5. https://www.marketplace.org/2020/06/30/netflix-to-deposit-100-million-in-black-owned-banks/
  6. Just thought I would post this in order to save someone else some time. After waiting for about 2-3 months for my trade lines to post to no avail, I decided to make some phone calls to vendors who I thought may report to DNB. Here are my results: Quill - Still reports. Have to make a purchase of at least $50 and wait 19 days to pay it. (I hate this personally) Uline - Still reports. Not sure what their terms are. Grainger - Have not been able to get an account with them because they are saying you must be incorporated for at least 3 months until they approve an account with you. EzPromos - Do not report Amsterdam Printing - Do not report SupplyWorks - Do not report MSC Industrial - Do not report These are based on the individuals I spoke with in each respective business's credit department. If anyone has their purchases reporting with the vendors that I stated do not report, feel free to comment and start a discussion. Also, if anyone know of any other Net30 vendors that reports to DNB, lets start a thread.
  7. Just noticed these charges appearing on all our Synchrony Bank accounts on the statements. 1.6% of the statement balance added each month that a balance posts. Was carrying a $500-ish balance under a 0% promo for CareCredit and $2,500-ish balance for Lowes under a 0% promo and saw the fees. Don't have any recollection of authorizing this service to be added to any of my or DH's accounts with Synchrony. Just looked back through statements and they started appearing (for us) in November, nothing prior. Apparently, it's been billed on all Sync Bank statements that we have. Walmart, Amazon, Lowes, Paypal and Care Credit. Anyone else?
  8. http://www.ibj.com/articles/58982-brown-mackie-to-shutter-indianapolis-campus-in-nationwide-retreat
  9. Within a 30-minute period this afternoon: I tried to make a < $10 purchase on Ebay using my PayPal Extras MasterCard. Declined three times in a row. No apparent reason. Next I tried the PenFed Useless RewardsTM Visa. Declined. Oops, wrong billing address. Tired again. Approved. Then I went to Vons and tried to put $11.xx on my Bank of America Cash Rewards Visa. Declined. Tried the same card again. Approved.
  10. https://abovethelaw.com/2020/02/after-40-years-the-lexisnexis-mainframe-is-no-more/ There is no paywall. I did not know this, but found it interesting.
  11. 110 million consumers could see their credit scores change under new FICO scoring "will start incorporating consumers’ debt levels into their scoring model."
  12. Hello, I am seeking some help on understanding the reason as to why I keep getting denied credit for my business. I’m wondering if maybe I. Filling out the application wrong or something. Here is some info on my business, and business credit. An established business over $75,000,000 a year in revenue D n B score is 89 Paydex Score 92 delinquency predictor percentile 90 financial stress 2 supplier evaluation risk rating low business risk overall highest past due $0 highest owing is $75,000 46 yrs trade experience $200,000 largest high credit an average of $33,236 credit Experian Scores is an A Transunion a B Equifax an A I still can not open an Amazon, Home Depot, Lowe’s, or Best Buy account. Does anyone know why that maybe? Any insite will be greatly appreciated. Thanks in advance.
  13. I didn't know this prior to my posting this tidbit. I've had a Bloomingdale's store card for well in excess of a decade. I have only used it twice since about 2005. I keep getting emails, so I decided to log in. Couldn't. Had to reset my password. Sent me a new password link that expires in four hours. Changed my password. Then they did not recognize my account. Oh well, thought I did it wrong, so I went thru the same steps again. They cant find me, all the while allowing me to resent my password. So, I called. Nice Nice young CSR answered, I gave her my account number and she told me accounts that were not used in two and one-half years were inactivated by their system. Now I can unsubscribe without feeling bad.
  14. Some interesting tidbits in the news articles about the contract change. First Barron's is reporting that "Synchrony expects to convert some of the existing Walmart private-label cards to general-purpose cards." https://www.barrons.com/articles/where-synchrony-financial-goes-after-walmart-1533337840?mod=yahoobarrons&amp;ru=yahoo&amp;yptr=yahoo I would assume they are referring to the co-branded MC as opposed to the store cards which are obviously subprime. I wouldn't be surprised to see these Walmart MC's changed over to a 2% card or something since SYF has been trying in recent years to reach more prime consumers (Marvel, Cathay Pacific). Next, I also read that Goldman Sachs was in discussions for the Walmart portfolio. Apparently they are considering entering the CC business.
  15. https://www.foxnews.com/us/philadelphia-cbp-agents-seize-ship-owned-by-jpmorgan-chase-after-1-3-billion-20-tons-of-cocaine-found-on-board JPMorgan Chase Bank needs to recoup the $1.3 billion lost when their cocaine smuggling operation got busted by Customs & Border Protection and their 20 tons of cocaine got confiscated. Since the cargo vessel, the MSC Gayane, owned by Chase, has been seized by CBP and federal prosecutors plan on keeping it, add an additional approximately $100 million to the tally. Jamie Dimon is sure to ask for a pay raise, too, when the retail value of coke goes up. Adios rewards.
  16. https://www.valuepenguin.com/news/british-airways-credit-card-hack
  17. NASA FCU offers very generous lines of credit on their credit cards, but for the uninitiated, there are tricks and traps they don't disclose to you upfront that you will find out about later. Around three years ago, my husband and I each opened new NASA accounts and were promptly given $30k in credit each. We did balance transfers on the accounts. Last month, we paid off one of them (actually overpaid it, thanks to their obnoxiously awful online banking system that does not always acknowledge account actions like payments). Instead of seeking a refund, I just decided to pull out the NASA credit card and use that to recoup my credit balance. Except the card I had put away in a box three years ago was long expired. There was no replacement card ever issued to either of us. So I wrote them, which is when I learned from representative number one "the account has been closed for inactivity since December 2018." I was invited to re-apply. This despite regular monthly payments being made for all three years, the last of which posted in May. This was news to me. The online dashboard still reflected the $30k credit line and more than $30k in available credit because of the credit balance now on the account. No warning, no message, no nothing. I complained about these things in response and the representative quickly reopened the credit line and issued a new card. For the other account, which still has a balance transfer being paid down, I wrote a separate email about the missing replacement card. I was informedthe account was still open, the credit line was still active, BUT the account's ability to accept new charges was paused due to inactivity and a new card was not scheduled to be automatically issued. NASA FCU requires at least two credit transactions annually, preferably spread out at six-month intervals, to keep a credit line active and available for use. They don't give you warnings. Payments do not count as activity. Only purchases. They are sending a new card to get this account unlocked and open as well. This is literally the only card I have ever had that did not treat payments as legitimate activity. Thank goodness we did not have to re-apply and take a hard pull, and if you complain they are responsive. Reviews about NASA FCU are not good on Yelp. Apparently the credit union's customer service and member responsiveness have taken some serious hits in the last three years. I invite people to explore that on their own. But word to the wise -- buy something small at least twice a year on those NASA cards or risk seeing them closed.
  18. Hello, I have create a situation for my self that my monthly expenses exceed my monthly income so I been missing payments to my credit cards. I was thinking of cashing out one of my mutual funds and pay off two of my cards to reduce my monthly overhead, Best buy has offered me a settlement offer where I would pay them half of my total statement within 90 days and they would charge off the rest, but they would still show on my credit that this was paid but not all of it. And I still have to reach out to chase to see what options I have with them. My question is, is this a good idea right now I am way behind on the payments and killing my credit but not sure what is my best options. Any suggestions or recommendation? Also I own my home so I didn't want to so a bankruptcy.
  19. https://www.theatlantic.com/health/archive/2019/03/hospital-bills-medical-debt-bankruptcy/584998/?utm_source=facebook&amp;utm_campaign=the-atlantic-fb-test-852-1-&amp;utm_content=edit-promo&amp;utm_medium=social&amp;fbclid=IwAR0hYNKakm4RaH5ZeISLq_MTSvMjMPnHNkuL7eOY8GcGtkOcMMHW4AiRpOs
  20. I just discovered that my Chex Security Freeze was removed after seeing on my TransUnion report, in the supplemental information section, info about Chexsystems and checking account inquiries. I called them up and they informed me that previously they automatically cancelled your security freeze after 5 years, but their policy has now changed and they are now permanent. I explained removal without my permission sounded like a violation of California state law. I had to call their freeze department at 800-887-7652 and request a new security freeze be added to my credit report again.
  21. https://www.cnbc.com/2019/02/13/a-gop-proposal-would-snatch-your-student-loan-payment-right-from-your-paycheck.html A Senate proposal would require employers to deduct federal student-loan payments from workers' paychecks. The plan — backed by the Republican head of the Health, Education, Labor and Pensions Committee — would require borrowers to choose between having 10% of income taken out of their paychecks or deducted over a decade. People can now choose between 14 repayment plans that don't require such garnishment and that are overseen by loan-administration companies. Consumer advocates say the new plan could force people to divert money from things like food and rent.
  22. Hi Guys! I need help with a collection account that recently reported to my Experian report on 2/5/19, “Enhanced Recovery” purchased an old Sprint debt from May 2013. In California our SOL is 4 years. What can I possibly to get this account removed from my report ASAP! Account Name ENHANCED RECOVERY CO L,202752XXX Original Creditor SPRINT Open Date Invalid date Balance $1,302 Debt $1,302 Contact Information 8014 BAYBERRY RD,JACKSONVILLE, FL 32256,(800) 496-8941
  23. Doctor of Credit announced today that there exists a rumour that... Amex's Green Charge Card will get bonus categories 4x "gas" 3x "streaming" and... some form of Amazon Prime membership conjoined with some higher annual fee. It seems that Amex continues to play the "rewards game".
  24. https://www.nerdwallet.com/blog/credit-cards/amalgamated-bank-of-chicago-5x-quarterly-bonus-categories/

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