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HelpmyCredit90

My Master Repair Thread

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1. BOA does not owe me a Secured Credit Card.

2. No one owes me a credit card.

3. BOA is advertising this product to "rebuild credit".

4. They are denying people who wish to rebuild credit.

5. They advertise this product to "build credit".

6. People have been denied due to "lack of credit".

 

 

This is not truthful advertising. Plain and simple.

 

It has nothing to do with entitlement, being owed, etc.

 

You don't offer a credit card and advertise it to credit builders and rebuilders and deny them due to the very thing they wish to correct and you advertised for.

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Yes it is truthful advertising.

 

The fact that they check credit tells you they have certain standards.

 

Quit making excuses and shirking responsibility for everything.

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Sorry you feel that way, however I have basic expectations with any business.

 

I suppose if you go to a restaurant and the food is horrible, spoiled even, you eat it anyway under the mentality of "Well they don't owe me anything".

 

Or...maybe you have employees and they are all lazy, "well they don't owe me anything".

 

Life is way too short to put up with crappy services, crappy businesses, etc.

 

You nor anyone else should have to deal with it, either.

I am sorry but if I BUY food, I expect it to be good, and will not settle for less. If I PAY someone to work for me I expect them to meet my expectations.

 

You did not buy nor pay BofA for anything, you were applying to them asking them to issue you credit, secured or otherwise. THEY DO NOT OWE YOU A DAMN THING.

 

Exactly. Sorry, OP, but that argument doesn't work at all.

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But why deny in the first place?

Because they think (as of the date of your application) you aren't a good risk and they aren't interested in your business.

 

Feel free to continue to manage your credit responsibility and quality for this or some other product.

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Risk? There is hardly any risk with a secured credit card.

There is still risk involved hence the credit check and denial. Not all issuers are the same.

 

BofA does not want to spend time and money trying to collect on a secured card that is maxed out and in default collecting more fee's and late charges. It is not worth it for them. With late charges and fee's it is more then your deposit and not worth their time. They want people serious about rebuilding. Your recent unpaid charge off's show that you are not yet serious.

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Well I guess that makes sense then. I was also denied Secured through DCU, still waiting on denial.

 

Weird tho, being that I have a credit builder loan with them.

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Well I guess that makes sense then. I was also denied Secured through DCU, still waiting on denial.

 

Weird tho, being that I have a credit builder loan with them.

Dude, listen.

 

Secured cards are not a guarantee. Quit applying for stuff, ask questions BEFORE you apply, use the CPDB and get input before you end up screwing yourself.

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I realize people are trying to help me but i want this stuff off as fast as possible...

You can't go faster than it is possible to go.

 

Do you have any open revolving credit lines or other accounts at this time.

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Open accounts:

 

Fingerhut $200

Au on Farm and Fleet $2500

DCU $3,000 Credit Builder Loan (Installment)

US Bank $300 Secured (not yet on CR)

 

..and of course my business accounts, but that is on business CR's and my biz credit is spotless.

 

 

Reading my CR, I noticed this about a Closed WF Secured..

 

Remarks: DISP RSLV/CSMR DSG/CNSM CLS

 

Which I think means..

 

Dispute Resolved ( I disputed a 30 day late, was never late.)

 

But what does CSMR DSG CNSM CLS mean?

Edited by HelpmyCredit90

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Hopefully you'll figure it out. As of this moment in time, it's clear you are still on the downhill slide. I'd short your stock if I could. My advice is for you to step back and not do anything right now, because I fear you are just making this worse.

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So use and pay on your existing accounts.

 

Save money to pay on your open collections.

 

Repeat monthly until you are able to take a positive step.

 

This could take months or a year before you make progress.

 

Once you make progress you may have to spend more months or years paying accounts on time to take the next step.

 

Good credit is a long process. There are times when you can take leaps forward, but you can't go all the way at once.

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I am saving money to pay on open collections. I am sending a PFD letter as soon as I hear back from one:

 

Discover Card: $122

and possibly:

OCCU Card Services: $221

 

Those are two collections done, 5 to go, but like I said, they are in dispute status so I'm not paying until "the dust settles".

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Risk? There is hardly any risk with a secured credit card.

Oh, but that's not true.

 

Just because they have, say, $1,000 of your money as guarantee doesn't mean you can't get far more than $1,000 of value out of the card if you were malicious.

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