also, recall that >5 inquires scores the same. 6 or 600.
Posted by hegemony on 08 May 2016 - 12:12 PM
also, recall that >5 inquires scores the same. 6 or 600.
Posted by hegemony on 30 January 2016 - 03:05 PM
It is that time of year; we're all gathering tax forms and statements getting ready to file. Some people rush to get their refund while other wait to mail returns on the last possible day to delay payments.
Now is a great time to review your 2016 federal tax withholding. It is especially important if you are someone who is getting a large refund. A large tax refund may indicate you are having too much withheld from your paycheck. In other words, you have less spending money each pay period. This mean less money to pay down debt, saving & invest, etc.
Getting a large tax refund is not a gift and you should not be excited. Rather, you should work to minimize your refund so that you have more regular control over your money.
You can use the IRS' 2016 withholding calculator to determine if you need to adjust: https://apps.irs.gov...ldingcalculator
If after reviewing the estimator, you can print a form to file with your employer to make the adjustment if you deem it in order.
Of course some folks get large returns because of various allowances, etc. But if you're someone getting a large refund because you are having too much withheld, you really should consider making an adjustment.
The old adage is a large refund is merely you giving the government an interest free loan. But there are other good reasons to try to avoid a large refund. A few of these reasons include:
1) use the extra take home to pay off debt throughout the year; saving you interest and helping any snowball plan you're engaged it;
2) use the extra take home to dollar-cost-average savings or investment though out the year;
3) minimize how much you might have stolen via tax return fraud. While the IRS has gotten better at helping consumers who have had their return filed by fraudsters, it is still a pain in the behind to deal with. In other words, having $50 at risk is better than having $500 at risk;
4) why give YOUR MONEY to the government instead of using it for yourself? Even if all you do is buy lottery tickets, steak, or a new weed wacker.
I should add, if you don't have enough withheld, and don't prepare to make 1040ES payments, there can deleterious consequences. Which means there is a good reason to also review your W4 to make sure you remain in-line with current law/regulations.
Posted by ICANHASMUNY? on 09 October 2015 - 11:07 PM
Posted by AnnMichele on 04 October 2015 - 08:27 AM
OP, have you been able to get paper copies of your reports? If myFico is telling you that they cannot generate a score for you, believe them. If you haven't already gotten copies of your reports do so now. When you get them post the information (minus any identifying information) here so we can assist you on building a strong, solid profile.
Posted by mendelssohn on 03 October 2015 - 04:48 PM
Posted by virtualtreasure on 03 October 2015 - 04:45 PM
They pull hard for CLI, are unlikely to give more until at least 6 months, generally known for unremarkable product, cs and CLI, have got a SFB VIsa and use it for small purchases once in a blue.
Posted by JeffeVerde on 03 October 2015 - 04:00 PM
Thanks. Had no idea about the stackable benefit
Also, if HomeDepot is more convenient than your nearest Lowes store -- HD will give you a 5% discount if you flash your Lowes card.
Posted by TrevorHere on 03 October 2015 - 03:37 PM
This is true.
Available credit is not debt.
Using someone else's money for free while getting rewards is brilliant!
Though I wonder how the CC companies make money off we PIFers..
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They don't make money, except for swipe fees. If a large enough percentage of their customers PIF every month, then all rewards we enjoy would disappear or be very limited. Its all a marketing gimmick that most CC users fail at. Those of us that PIF every month are in the minority when compared to their overall customer base.
There are swipe fees and % of transaction fees (revenue) the issuer charges the merchant. Issuers love heavy charging customers even if they are PIF...
Posted by Konrad2012 on 03 October 2015 - 12:25 PM
I shop at Lowes some....and I don't have any store only cards (have the visa,mc of Nordstrom,saks) and never wanted any. But it seems this one is an exception with the 5% and reasonable limits. So I'm tempted.
For this particular card is it more favorable to apply in store rather than online?
There have been reports of EX pulls for in-store apps. Online is TU for the most part.
The beauty of the 5% discount from the store is it's stackable. So if you have a $500 charge, you pay $50 or something on the store card, and get a 5% discount on the entire order. Then you pay the other $450 with gift cards that you bought for 6%-10% off at Cardcash, Raise, Ebay etc.
The 5% is not stackable on top of the military/veterans discount though.
Posted by TrevorHere on 03 October 2015 - 07:08 AM
Heavy charging, and utilization. One needs a limit to suit their charging activity and still maintain a low utilization. Sure, sometimes one must make additional payments throughout the period if it's significant but you never know when a lender may decide to report the balance.
Higher limits beget other higher limits. Large limits reporting on an applicants report as an ability to handle credit well and are inclined to give out large limits themselves....lenders are competitive.
Posted by AnnMichele on 03 October 2015 - 06:55 AM
The more available credit you have the lower your overall utilization will be should you ever let an amount report.
For example, if you only had $100 of available credit and you let $50 report your utilization would be 50%, However, if you had $1,000 in available credit and let $50 report, your utilization would be 5%.
Posted by mendelssohn on 02 October 2015 - 12:56 AM
Well Lowe's does give the 5%, but that is in lieu of the special 0% financing, so unless you are going to BT it to another card or pay it off that month (you say renovations so I am assuming large purchases), that is not a reason to go to Lowe's. Dany recommended Lowe's because they are known for giving out high credit lines which is good, but not if you are paying more for the stuff you want to buy or can't get what you want there.
Posted by TampaDude on 01 October 2015 - 10:04 PM
Wait till NASA hits all your CRA's before you do anything.
In the interim, figure out what you want from a card
Ya I'm pretty sure it's on there by now, it's been months since I've had the card. I just want another high-limit, no fees, and low as possible interest rate with cash back rewards.
Are you eligible for NFCU? They're rather generous with CLs. Their Flagship Visa is on promo right now, too.
Posted by mindcrime on 29 September 2015 - 11:48 AM
Try to GW that 30 day late with WF. Go to the top.
More than anything, THAT is what is killing your score.
Posted by Konrad2012 on 28 September 2015 - 08:14 PM
Ask for another CLI. Move $14K off Care Credit. Leave Care Credit open to age until they kill it for lack of use, or buy a pack of dog treats every 6 months.
I'll be curious to see how this works....would be nice if I could just call them up and say I have a $15k CareCredit account that I'd like to close and move the limit to another account. In my head this makes perfect sense....I do not foresee it being so easy.
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Posted by Why Chat on 28 September 2015 - 05:48 PM
The initial dispute letter may get this off your reports:
If you need to complete the "Repo" program you can go to the motor vehicle bureau and get the Vin # through their records of your registration.
Posted by RussInGotham on 28 September 2015 - 05:32 PM
What's your utilization on your cards? If it's high, that's low hanging fruit for FICO scores improvement.
Also, plan on closing that Credit One ASAP. You're paying money to a predatory lender for an awful credit card that looks bad on your credit reports. You don't need that $300 of credit. You can easily make up for it with CLIs.
Posted by dilligaf on 27 September 2015 - 08:36 PM
Posted by PotO on 15 February 2015 - 01:31 AM
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