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In Pursuit of High Scores and Higher Limits


MsIndependent
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B* - AT&T is fell off. Cap1 remains as the last of 11. I expect it to fall off by the end of the week.

 

ETA: When I pulled MPM there were 2, USAA there was 1 (no surprise, the pull bumped it) BUT when I pulled Equifax Complete.....it has ZERO inquiries. Hmmmm....... :dntknw:

Edited by MsIndependent
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  • 2 months later...

New Increases:

 

Paypal increased to $2100

Walmart increased to $1600

Chevron increased to $850

 

Have been focused on paying down the balance on private student loans. I have three. All with balances higher than the original loan amount, so getting them under that and then paying them off one by one is the plan.

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  • 3 weeks later...
  • 5 years later...

I'm baaaack.  A pandemic seems like a good time to dust off my credit and increase my scores (again).

 

Amex is INDEED a PIF kinda company.  They closed my account last year.  I'm still paying off the card.

 

Things I am working on now:

  • Reducing my utilization on all my open cards (Barclays, Citi, Union Plus (Cap 1), Discover, Chevron Visa (Sync), and Target RedCard)
  • Pay off my closed (Amex and Paypal(Sync)).
  • Also, have some 30 day lates (5).  Two will drop (SOL) this year.  Two are on the closed accounts and 1 on Discover.
  • I want to work on lowering my APR, especially on the Sync accounts. I was rate-jacked after the late.
  • My Chevron Visa started out as a store card in 2008 and changed to a VISA in 2016.  However they re-aged it so it looks like two seperate accounts.  Would love to have this reflect the actual 2008 relationship for age.  (Store card shows as closed/sold/transferred as of 2016) - Researching if this can be done or if it was listed as "new" because it changed from store card to Visa.  It doesn't show VISA on the reports though.  All around a pain, but may make sense to close it after I PIF.

No inquiries on EX or EQ.  Two on TU (8/18 and 2/19) for credit union (AFCU) personal loans that have been PIF and closed.

 

Creditor                           Date Opened                      Limit                     Balance              Status

Barclays                         4/14/2008                         $ 6000                  $4,566                Open

Citi                                  4/21/2014                          $ 4150                   $3,490               Open

Union Plus                      2/20/2008                         $ 2800                  $1,718                 Open

Discover                         4/14/2014                          $ 6,500                 $5,430                Open

Chevron Visa                 9/16/2016 (2008)             $ 2300                   $1549                 Open

Target Redcard             2/8/2008                            $ 1200                   $  872                 Open

Amex                              9/25/2014                          $10000                $6,236                Closed (2018)

Paypal                            2/12/2008                           $ 3600                 $2260                Closed (2019)

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Welcome back.

 

It's good to see you re-orienting in the right direction.  I've commented on some of your analysis for clarity, and in an attempt to cast a more realistic light.

 

Good luck with your next chapter.

 

8 hours ago, MsIndependent said:

Amex is INDEED a PIF kinda company.  They closed my account last year.  I'm still paying off the card.

This implies that they closed your account solely because you were revolving balances. 

 

Assuming this wasn't a charge card and you weren't paying the full balance due every month as required by the account terms, Amex isn't going to close a revolving account only because you revolve balances.  Charging interest is a major source of revenue for the company.

 

Some other behavior that was reflected in your credit report likely prompted the account closure (which seems to be confirmed by your general description of the state of your credit).

 

8 hours ago, MsIndependent said:

I was rate-jacked after the late.

I am assuming you mean that they moved you to a higher interest rate after you made one or more more late payments, as specified by your account agreement. 

 

If I am correct, that's not rate jacking, that is a contractually-defined event which you triggered by allowing your account to default.  You accepted these terms when you began using the card.

 

8 hours ago, MsIndependent said:

My Chevron Visa started out as a store card in 2008 and changed to a VISA in 2016.  However they re-aged it so it looks like two seperate accounts.  Would love to have this reflect the actual 2008 relationship for age.  (Store card shows as closed/sold/transferred as of 2016) - Researching if this can be done or if it was listed as "new" because it changed from store card to Visa.  It doesn't show VISA on the reports though.

This is not re-aging. 

 

The three statements in red are difficult to reconcile as written, however it's not uncommon for a store card and a cobranded V/MC/AE to report separately. 

 

Macy's store card and Macy's Amex, for example, report as two different TLs, each reflecting the opening date for the respective trade line. 

 

Most TLs just list the name of the data furnisher, and do not specify V/MC/AE.  This isn't abnormal or incorrect.

 

 

 

 

Edited by cv91915
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@kaylee34 It happened over the last three, not six. I had two miscarriages (first in April of 2017) and two failed IVF treatments (not to mention about 6 failed IUI treatments).  So my focus was elsewhere. Some days it was all I could do to get dressed and go to work.

 

@cv91915(hegemony, right?)  Points taken. 

 

The AMEX comment is in reference to the last/previous post to my update.  BDK wrote "Congrats! Remember, Amex is a PIF-kinda company..." I was mostly being cheeky. 

 

What is the action that the term "rate jacking" depicts?  I must have misunderstood it the 12 years I've been on CB.

 

Understood about your comment on the Chevron TL conversion.  Let me try and clarify It doesn't show VISA on the reports though.  Posting below the way the tradelines read on om my report

 

Closed Retail Card: SYNCB/CHEVRON PLCC

Visa Card: SYNCB/CHEVRON DC

 

Appreciate the responses.  Hope this clarifies! 

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Let me add my current circumstances for context on paying down my debt:  Ahead of the COVID-19 pandemic, I began working remotely from California (I live in NYC) to help care for my mom who was diagnosed with advanced stage cancer.  I got here on the 11th of February.  I, of course, am still paying all my bills in NYC.  However, my recreational activities have been NIL for two months, ahead of the shelter in place orders.   I also got a raise and my bonus payment during that time. So...mo money, mo money, money.

 

Bills I am paying are rent, mobile phone, electricity, and internet.  Downgraded Netflix (my adult daughter is still there), cancelled unlimited metro card auto-pay.  So that is $143 a month.  Overall, it gives me about $3K a month to pay down debt.

 

So with time and disposable income on my  hands, I thought I'd tackle my debt.  I plan on resuming fertility treatments when I return to NYC.

 

Things I am grateful for are that I got of NYC before COVID-19 ripped through it like crazy.  I am also grateful that I get to be with my mom and help nurse her back to health.  Her cancer markers went from over 5K to less than 90.  She is slated for surgery in May, but of course we'll have to see how the pandemic continues to unfold. I am also grateful that my daughter is doing well in NYC and staying safe. I lost a co-worker due to the virus and that put things into perspective.

 

Thanks for reading. 🙂

 

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8 hours ago, MsIndependent said:

Let me add my current circumstances for context on paying down my debt:  Ahead of the COVID-19 pandemic, I began working remotely from California (I live in NYC) to help care for my mom who was diagnosed with advanced stage cancer.  I got here on the 11th of February.  I, of course, am still paying all my bills in NYC.  However, my recreational activities have been NIL for two months, ahead of the shelter in place orders.   I also got a raise and my bonus payment during that time. So...mo money, mo money, money.

 

Bills I am paying are rent, mobile phone, electricity, and internet.  Downgraded Netflix (my adult daughter is still there), cancelled unlimited metro card auto-pay.  So that is $143 a month.  Overall, it gives me about $3K a month to pay down debt.

 

So with time and disposable income on my  hands, I thought I'd tackle my debt.  I plan on resuming fertility treatments when I return to NYC.

 

Things I am grateful for are that I got of NYC before COVID-19 ripped through it like crazy.  I am also grateful that I get to be with my mom and help nurse her back to health.  Her cancer markers went from over 5K to less than 90.  She is slated for surgery in May, but of course we'll have to see how the pandemic continues to unfold. I am also grateful that my daughter is doing well in NYC and staying safe. I lost a co-worker due to the virus and that put things into perspective.

 

Thanks for reading. 🙂

 

Back at it under similar circumstances, I'm so sorry @MsIndependent ❤️ 

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10 hours ago, MsIndependent said:

What is the action that the term "rate jacking" depicts?

Rate Jacking is when a creditor raises the interest rate even when the debtor is in complete compliance with the T&C. Usually your options are 1. Accept the increased APR or 2. Close the account and pay off the balance on the previous APR. Penalty APR is NOT a rate jack.

 

Citibank did that to me during the Great Recession, right after I transferred some balances they ratejacked me to over double the existing APR. Of course I opted out and closed the account and paid it off in a couple of years.

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On 4/13/2020 at 3:11 AM, MsIndependent said:

The AMEX comment is in reference to the last/previous post to my update.  BDK wrote "Congrats! Remember, Amex is a PIF-kinda company..." I was mostly being cheeky. 

 

...

 

Understood about your comment on the Chevron TL conversion.  Let me try and clarify It doesn't show VISA on the reports though.  Posting below the way the tradelines read on om my report

I was just attempting to distill your comments down to facts.  Glad to have you back.

 

I got your point about how your Visas weren't listed as such. 

On 4/8/2020 at 5:06 AM, cv91915 said:

Most TLs just list the name of the data furnisher, and do not specify V/MC/AE.  This isn't abnormal or incorrect.

None of cards from Bank of America, Capital One, Chase, Citi, etc. list the payment network in the TL name.   

 

It's really irrelevant, and many banks issue the same card on more than one payment network (I just switched a Bank of America card that was issued as a Mastercard to a Visa; the card still has identical benefits, rewards, etc.  It's the same TL on my credit reports, and the card is listed by the data furnisher's name, Bank of America.). 

 

If you have multiple TLs from the same issuer, the only thing that matters is that the account detail is reporting correctly on each. 

 

If you have nine Target store cards and one Target Visa, you should have ten Target TLs.  And it doesn't matter if one of them says "Visa" or not.

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2 hours ago, MsIndependent said:

@cv91915 That makes sense.  Thanks for clarifying.  

 

@IndyPoolPlayer Ah!  Interesting.  Good to know.  Sorry about Mama Bear.  #CancerSucks indeed

 

@hegemony I wasn't sure, hence the question mark. There was a hegemony who was helpful to me back in 2007. Mix up on my part. Mea culpa.

oh that is still me. I just wasn't sure if you were asking a question :wave:

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Interest rate reduction on Discover!  Sent an email to all my creditors to request an interest rate reduction/review.  Discover agreed to do it!

 

Email: BC -  (EO) executiveoffices(at)discover(dot)com TO - CEO Email:  rogerhochschild(at)discover(dot)com  

 

Asked for my late to be removed and my APR to be reviewed.  Got a nice message that my reduction was approved.  Effective in two days for all new purchases.

 

No news on the late being removed.  Fingers crossed. 

 

 

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12 hours ago, MsIndependent said:

Interest rate reduction on Discover!  Sent an email to all my creditors to request an interest rate reduction/review.  Discover agreed to do it!

 

Email: BC -  (EO) executiveoffices(at)discover(dot)com TO - CEO Email:  rogerhochschild(at)discover(dot)com  

 

Asked for my late to be removed and my APR to be reviewed.  Got a nice message that my reduction was approved.  Effective in two days for all new purchases.

 

No news on the late being removed.  Fingers crossed. 

 

Discover will reduce your interest rate every 6 months, or so, when requested (If your account is in good standing and good overall FICO scores). I went from 22.99% or 24.99% (can't remember exactly) to 12.74% APR. I always did this through the chat option.

 

Good luck on getting the late removed :)

5PeO3Ru.jpg

 

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2 hours ago, Kat58 said:

Discover will reduce your interest rate every 6 months, or so, when requested (If your account is in good standing and good overall FICO scores). I went from 22.99% or 24.99% (can't remember exactly) to 12.74% APR. I always did this through the chat option.

I noticed on Discover's website just now, that the lowest APR is 11.99%, for new accounts. I called to request another permanent APR reduction, since the chat and messaging options aren't available at this time. I was informed that my current APR is 11.24% and couldn't go lower.

 

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