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Highest Reputation Content


#5470620 Inquiry points drop

Posted by hegemony on 08 May 2016 - 12:12 PM

also, recall that >5 inquires scores the same. 6 or 600.


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#5414083 Public Service Announcement: Review your W4

Posted by hegemony on 30 January 2016 - 03:05 PM

Dear Friends,

 

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.

 

 

Love,

 

Hegemony


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#5354831 need to find someone who will give me a loan... bout to be homeless.

Posted by Konrad2012 on 10 October 2015 - 01:37 PM

http://www.woundedwarriorproject.org/

http://www.dav.org/veterans/

http://www.nolo.com/...d-veterans.html

http://www.disabilit...terans-benefits

http://nvf.org/

Semper Fi
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#5354515 Help with getting a repo removed with no deficiency balance

Posted by ICANHASMUNY? on 09 October 2015 - 11:07 PM

This falls under your state laws,UCC, title 9 secured transactions. The requirements about notice letters and your rights vary depending on your state.but if they owe you $$$ from the sale and haven't paid you should use that as leverage to have this deleted. You need to do a bit of research on this first, generally a letter to the lender asking for a full accounting of the surplus or deficiency under your state laws is the way to handle this don't dispute with the CRA.until later.
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#5351503 Couldn't get fico score

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.


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#5351294 Why are people obsessed with wanting a high limit?

Posted by cashnocredit on 03 October 2015 - 06:44 PM

 

 

Available credit is not debt.

Using someone else's money for free while getting rewards is brilliant!

This is true.

Though I wonder how the CC companies make money off we PIFers..

Sent from my SAMSUNG-SM-G850A using Tapatalk

 

 

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.

 

 

Amex's bread and butter are charge cards, not revolvers.  They get far more spend on the charge cards than revolvers and people that carry balances tend not to spend nearly as much. They also have higher swipe fees and this combines to produce nice revenue. Visa, MC, and Disco do revolvers. They get the bulk of the low spend, balance carrying customers.


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#5351248 State Farm cc...NEED HELP

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. 


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#5351221 How high will Lowes/Sync go?

Posted by JeffeVerde on 03 October 2015 - 04:00 PM

 

Thanks. Had no idea about the stackable benefit :grin:

 

 

Also, if HomeDepot is more convenient than your nearest Lowes store -- HD  will give you a 5% discount if you flash your Lowes card.


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#5351214 Why are people obsessed with wanting a high limit?

Posted by TrevorHere on 03 October 2015 - 03:37 PM

 

 

Available credit is not debt.

Using someone else's money for free while getting rewards is brilliant!

This is true.

Though I wonder how the CC companies make money off we PIFers..

Sent from my SAMSUNG-SM-G850A using Tapatalk

 

 

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...


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#5351114 How high will Lowes/Sync go?

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.


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#5350964 Why are people obsessed with wanting a high limit?

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. 


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#5350962 Why are people obsessed with wanting a high limit?

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%.


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#5350235 Best way to apply for high-limit credit cards

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.


But you can also swipe your Lowe's card for a few dollars if a large transaction, get 5% off the entire purchase and then finish paying with discounted gift cards bought through a shopping portal. It can really add up.

And yes, they are generous.
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#5350186 Best way to apply for high-limit credit cards

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.


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#5349073 Help me avoid foreign transaction fees

Posted by cv91915 on 29 September 2015 - 09:18 PM

I spent several hours researching foreign ATM options for our three-week vacation this summer. I wasn't willing to open a new account, so I used USAA for my cash withdrawal needs.  They only charge a 1% fee, and they refund up to $15 a month in ATM fees charged by other banks.

 

Our primary bank, Bank of America, charges 3% for withdrawals.

 

We only ended up withdrawing about 700 euros (< $800) at ATMs, and I deposited almost 300 unspent euros when we returned.

 

If I had to do it over again I would prefer to have spent the hours of research doing other things, vs. the < $20 I saved.


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#5348855 Achieving a higher FICO score

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.


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#5348552 Nate's Progress to 800 (off-topic welcome here)

Posted by Konrad2012 on 28 September 2015 - 08:14 PM

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. :dntknw:
Sent from my iPad using Tapatalk

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.
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#5348458 Achieving a higher FICO score

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.


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#5348030 Can a creditor continue to report late payments after a repo?

Posted by dilligaf on 27 September 2015 - 08:36 PM

This should answer. 8th post.

https://creditboards...l=&fromsearch=1
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#5213739 Being Stationed Overseas need help

Posted by PotO on 15 February 2015 - 01:31 AM

Seen this situation literally hundreds of times. Unfortunately since we are dealing with Comcast, it pays to be extremely careful.

I'd document the return of the cable box and modem. I'd also proactively send a letter to the Comcast CEO with a copy of your orders. Send it Certified Mail RRR. I've even seen people file a proactive BBB complaint just to get Comcast on record as having cancelled the service with no outstanding debt. Make sure your mail is forwarded to your new DPO address.

The absolute last thing you want to do is wake up one morning to a letter addressed to Mr. Azzhole Marine and / or a derogatory on your credit bureau file. Nip this crap right in the bud.
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