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Tagged With "Credit Reports"

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Re: What are some really effective ways to boost a credit score?

Deven ·
If you can afford to, all at once ! It stops the bleeding immediately. By bleeding, I mean all the interest that's tacked on each month. If you can't do it all at once, definitely cut off the highest interest one first, by paying the minimum payment required on the lower interest rates and throwing the excess on the highest interest one. Once you've reached zero balance on a card, just leave it at $0. You don't need to use it and you definitely shouldn't close it because closing that account...
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Re: What are some really effective ways to boost a credit score?

Men On A Budget ·
Great Question! According to the research that I've done and my experience with helping people remove errors from credit reports, the more you pay and the sooner will reduce your utilization rate the moment it posts (subject to next update of credit reporting) so "all at once" would quicken that for you. The rest of the factors, as you will read in this recap article, are not affected. The sooner you pay the less interest you are paying; however, to avoid needing credit and having to pay...
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Re: What are some really effective ways to boost a credit score?

Adam ·
If you're just establishing credit, a secured credit card might be good. They usually make you pay a deposit to start the card, then after a certain amount of successful payments, they give you the deposit back plus interest and you graduate to a way better credit card with a better APR.
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Re: What are some really effective ways to boost a credit score?

Briana ·
@Deven @Adam thank you, thank you! These are great tips. I actually looked into a balance transfer card to cut out the interest for a certain number of months - that way it holds me accountable to actually pay off the card by that time.
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Re: What are some really effective ways to boost a credit score?

Wen Dee ·
I was told to negotiate with the creditor , many debts are sold for pennies on the dollar and the credit company sometimes will settle for a lower amount. Can't hurt to ask, never know what the company will say.
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Re: What are some really effective ways to boost a credit score?

Drumtrip ·
@Briana I used to work for a credit card company! Some of the best ways to quickly boost credit scores. 1) Don't close credit cards, especially your oldest one. Instead you can just shred the card if you never intend to use it. This keeps your credit line open on your credit report. 3) Ensure you have enough credit, this sounds counter intuitive but having the right amount of credit in good standing shows that you can handle it and helps in the algorithm, even if you pay it off every month.
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Re: What are some really effective ways to boost a credit score?

Briana ·
These are all great tips! Thank you so much! I was always questioning whether I should close one of my cards or not, so now I have my answer.
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Re: What are some really effective ways to boost a credit score?

Drumtrip ·
@Briana It is a balance, you want to keep your credit utilization low, you don't want to have too much credit, and you don't want to have too little If you have too much then closing an account is fine, just don't close the oldest one, that is actually a factor in calculating your score (at least in the older models). I suggest using something like creditwise from Capital One, its free, you don't have to have an account with them and it gives you tips!
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Re: What are some really effective ways to boost a credit score?

Kirsten Cherry ·
I was always told to stay away from credit cards. Even as an adult, I had moved out of the house and lived on my own for 7 years without having a credit card. So what I struggle with is lack of credit. I got my first credit card a year ago and then a few months after that, I bought my first car that required a loan. I have a decent score but hardly any history. I guess I just have to play the waiting game?
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Re: What are some really effective ways to boost a credit score?

AverageJoe ·
All at once is the best way to go! We did it, and we've never regretted it for a minute. We'd rather have that money going into the bank every month than into interest to another bank for what we borrowed. After the crash, the banks raised everyone's interest rates with promises to lower the rates. This wasn't the case. By taking away that interest payment on what you had borrowed, you're not only showing that you can get out of debt, you're showing your disapproval with the way they lied...
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Re: My 100 Year Old Wife

Moore Income ·
Thanks for sharing this info. This is something I need to pay closer attention to.
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Re: What are some really effective ways to boost a credit score?

FreebiePharm ·
Some banks are flexible with this such as Discover. Others such as Chase will not lower your APR. I recently negotiated with Discover and they agreed to do a 6 month hardship at 9.99%, which is nearly half my previous APR. It has really helped me zero in on paying off that debt!
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Re: What are some really effective ways to boost a credit score?

FreebiePharm ·
There are also credit score stimulators online which can help you when debating how quickly and how much you want to pay off. For instance, you can plug in reducing your debt by $1,000 v. $5,000 and it will tell you how much your score will go up. Great for planning whether you want your money to go towards debt or emergency funds.
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Re: My 100 Year Old Wife

Bonnie Squires ·
Thanks but how does one go about fixing these mistakes?
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Re: First time home buyer

Melissa ·
Thank you, both! @Alexis Grant , when you purchased your houses and had home inspections, how did that work? Did the bank set something up and the inspector provided you with a report? Or did you hire an inspector yourself and do a walk through with them?
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Re: First time home buyer

FreebiePharm ·
Melissa, We are currently in the process of purchasing our second home and have hired an inspector ourself. We had the option of hiring separate ones that do the general inspection and then looking for ones that check the sewage system. I cost analyzed each and we saved a little bit of money by going with the inspector that does it all. We chose to have a general inspection, sewage, radon, water, of which the total cost is $1,240. Another cost to purchasing a home! We will do the walk...
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Re: First time home buyer

Alexis Grant ·
@Melissa Honestly, it's been a while so the details are fuzzy. But I believe the realtor knew someone who could do the inspection (not the bank) and set that up for us. We weren't on-site for walk-through, but if it's an older house that might be a good idea. I remember being impressed my first time going through this how comprehensive / long the report was!
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Re: First time home buyer

AnnieB ·
I just bought a house in the past year. My realtor gave me a list of inspection companies in my area, along with what each one inspected. He said that he was not legally allowed to recommend one. I went with the company who had the longest list of criteria inspected for (radon, mold, water damage, plumbing, electrical, structural, slope of yard, boundary line). I didn't want anything missed. IIRC, the inspection cost about $1300 here in Ohio, but it was the best money ever spent. There WERE...
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Re: First time home buyer

Melissa ·
@AnnieB Wow, I love this! Thank you for the information, this is so helpful! Just out of curiosity, when you negotiated the repairs, did the sellers actually fix any of the issues themselves or did they calculate the cost to fix and enter that amount as a seller concession?
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Re: First time home buyer

AnnieB ·
@Melissa - we had seller credits AND seller repairs. The seller had a faulty Federal Pacific electrical box (they are known to catch fire) that we demanded that they replace. (It was the main electric box. It involved the seller calling the electric company and having them pull the meter so the electrician could change the panel. I knew this since my father was an electrical contractor.) There was mold in the attic that we had them hire a remediation company for and show written proof it was...
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Re: What are some really effective ways to boost a credit score?

Sue sweet ·
Re: What are some really effective ways to boost a credit score?
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Re: REBUILDING CREDIT AFTER BANKRUPTCY

LadyLxD ·
I filed bankruptcy and it was finalized in 2012. My mother put me on her Kohl's card as an authorized user and by her having that card for years, plus her excellent pay history and minimal usage, slowly put my credit score up into the 600's. Fast forward to 2014 and I was able to get my own store card b/c I was already associated with her card and I carefully built my credit from that. In 2016 I was able to purchase a home with my husband, credit was in the 700's, even with the bankruptcy...
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Re: Hello new members!

Martha R Lopez ·
Hi I would like to if someone can help me with questions about my credit report
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Re: Hello new members!

Bonnie Squires ·
MARTHA R LOPEZ Hi you can start a new topic on credit report. You can go to the top of the page it will say create a post. What question are you wanting to know about your credit report?
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Re: Medical Bill In Collections

Bonnie Squires ·
MOORE INCOME I've one on credit report and it is for medical. I had insurance at the time was told my insurance would cover it . Well it didn't and its 4 years old now. It started out at 320 and now is up to $471. I'm not sure if it has effected my credit score or not. But like you have moved and didn't no about it.
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Re: Paid off Debt, however Credit Score stayed the same....Why?

BeckAtsila ·
It could be a number of reasons, ranging from credit age to total amount of credit available. My recommendation is to sign up for Credit Sesame, which helps me realize WHY my credit score is what it is. Basically it's like a report card in addition to your credit score.
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Re: Paid off Debt, however Credit Score stayed the same....Why?

Moore Income ·
Each credit bureau is different as to when exactly they update your report. I recently got my credit report from all three and it shows that I still have some debts owed that I have paid off so I know it has not updated yet. Give it some time and it should improve, mine usually updates around the first of the month.
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Re: What are some really effective ways to boost a credit score?

MsKimberly ·
I have not looked at my credit rating lately. This is something I need to make a point to do.
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Re: Medical Bill In Collections

KellyFromKeene ·
Super irritating!!! I received a bill from a collections agency for a balance that I never received a bill for in the first place. It was small and I paid it off, and called the hospital and let them know. Not that it mattered, but really. I pay my bills and didn't like having something in collections when I never even had the opportunity to pay it in the first place. @Moore Income , it didn't make it to my credit report, maybe because I paid it immediately?
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Re: What are some really effective ways to boost a credit score?

MarieS ·
I have learned that since there are so many ways to help increase your score, focusing on one area and taking baby steps has helped me! Right now, I a focusing on minimizing my utilization of credit. I try to pay more then the minimum payment and then not touch the cards! I have already seen significant increase in my score in a short period of time!
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Re: What are some really effective ways to boost a credit score?

Moore Income ·
@MarieS True statement. I have got mine under 10% utilization and that has really helped my score!
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Re: What are some really effective ways to boost a credit score?

MsKimberly ·
Re: What are some really effective ways to boost a credit score?
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Re: paying off debt in collections

Leslie Kay ·
if you make a payment on a collection account it starts the collection clock all over with. A paid collection item or an unpaid account both sit on your record as a collection account. You do not get a higher score by paying off an old collection account. They will still remain on your credit report for seven years as a collection account and drag down your score. Collection agencies will almost NEVER agree to remove the item from your credit even if you pay it off. Not in my experience...
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Re: What are some really effective ways to boost a credit score?

Prince_Alarming ·
Another way to help boost your credit is, Experian Boost. I'm not trying to advertise or anything like that, just passing on some good solid info. Experian Boost is free. It uses you electric bill, cell phone/home phone to help boost your score. Just thought I'd pass this on.
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Re: What are some really effective ways to boost a credit score?

Moore Income ·
@Prince_Alarming Thanks for sharing this tip. I had come across them before but wasn't sure exactly how it worked. I can see how that can be helpful.
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Re: What are some really effective ways to boost a credit score?

MarieS ·
I have never heard of that but I have always said how amazing it is that we are not able to include our household bills to establish payment history and credit worthiness! They definitely pull our credit to determine deposit information!!!! Definitely will check this out! Thanks for sharing!
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Re: What are some really effective ways to boost a credit score?

MsKimberly ·
I never heard of that. That sounds great!
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Re: Best way to get old delinquent marks off credit report

KellyFromKeene ·
I know you can dispute things with the specific credit reporting bureau. It's not tough to file a dispute, you just need to keep up with it. I would start from there. Get your free credit report from the three companies, and start filing.
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Re: Best way to get old delinquent marks off credit report

Susanne ·
Has anyone used Experian to dispute these? I am wondering if I could call or write the letters myself and save the $90/mth fee. They will only give me my credit report every 90 days unless I want to pay an extra fee. I am wondering if they do that to make sure they get 3 months of payments. These days I am so weary of these on line companies. They seem to focus on draining your bank acct instead of truly being customer oriented.
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Re: Best way to get old delinquent marks off credit report

Donna Marie ·
Susanne, I use credit Karma. It's free to use. It allows you to see 2 major credit bureau's scores and reports. You can long on to Credit Karma as much as you want it does not affect your score. The credit bureau's will give you one free credit report per year. I use www.annualcreditreport.com . However this only provides your credit report not your score.
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Re: My townhome is just a money pit

Julie Morgan Campbell ·
Did they report the flooding and/or mold issues to you when you bought? If they didn’t disclose that i would go after them
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Re: My townhome is just a money pit

charlottel ·
The house was empty before I bought it. The owner moved out when he bought a new house but I don't know how long. My inspector did not report any mold and he was very thorough but I will have to check my home inspection report. He included pictures with issues but I don't recall anything about mold or pipes being an issue except for lines going to and from water heater and the old HVAC system being installed wrong and were corrected. I will contact our management company of the HOA to see if...
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Re: Best way to get old delinquent marks off credit report

Any ·
Not always do the 3 credit bureaus erase late payments from your credit report. And it will be at a cost to you. If you file a dispute of any kind it will effect your credit score. If you have these disputes reflecting while you are trying to buy a house for instance, it will bring your score down. DON’T file a dispute while trying to purchase a home. Give the credit bureaus at least 3 months to resolve their findings. A lot of the outcome of removing the late payments activity is up to the...
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Re: The 7 years an account is on credit report

Oh2BeRed ·
Hello there. Great question. I have been working on my credit for a solid 3 years while trying to save every dime for a deposit. I'm disabled after working 36 years and needed a good car. Right as I was about to embark on this journey, some atty firm shows up on my credit report with 16 accts from different hospitals. I have always had insurance so how can this be? And many of these accts are over or approaching 7 years old? Help. I've called this GRANT & WEBBER FIRM. I've disputed...
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Re: Age of Credit

Robin Hartill ·
Hey, Stephanie! Your credit age determines 15% of your FICO score and is calculated by averaging how long all your accounts have been open. So if you’ve had a credit card for 5 years, a student loan for 4 years and a car loan for 3 years, your credit age would be 4 years. So yes, it’s definitely odd that you’d have an average credit age of 23 years at 30 years old! One possible explanation: If a parent or grandparent added you as an authorized user on an account with a long history when you...
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Re: Age of Credit

Moore Income ·
Could be an error on your report, but if it is, it is definitely not a bad one!
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Re: Unsure How to Proceed

Moore Income ·
I don't personally have a pet, but I understand why many people do. Having a pet can be expensive, but they also can be a very big part of our lives. One thing I would say, focus more on keeping your interest low than on your credit score. While having a high score is nice, if getting a loan or even transferring the balance to a new card with a no APR introductory offer can save you money on the interest in the long run, it might be worth the hit to your credit score. Your credit score is...
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Re: Family and Finances- How much did you learn growing up?

Katie Pellicano Leslie ·
According to my parents and older siblings you could've called me a money hoarder. I did jobs around the house at 4 to earn money. My mom was a saver, but my mom always had trouble with my dad. They ran a business until he retired. Out of the 3 of us, my mom said I am the best at saving, then my brother, and my sister use to be okay at it but not good over the years. I guess I remember always afraid of being broke. I cried when my mom took my money to the bank (age 4)until I understood the...
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Re: Erased

Valerie Magorrian ·
Here are a few legit companies that I have been shopping for years and they are 100 percent legit. A Closer Look- www.a-closer-look.com They do restaurants and a few other things like retail and some low end hotels, however they work on a scale so you will see lower end shops like diners until you do a few reports and they see you have good writing skills, then you get offered better shops. You are reimbursed for purchases but rarely paid anything on top of that but still, if its a nice...
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Re: REBUILDING CREDIT AFTER BANKRUPTCY

yrenee ·
I just went through a foreclosure going on two yrs. I was diagnosed with fibromyalgia and couldn't make 1 payment. The bank immediately dismissed me and sent me to other organizations like save your home Calif...of course they denied me because I was still employed. I finally hired lawyers and was I'll advised to start a chapter 7 to give more time to the underwriters to do another review of my paperwork. I did not owe any debtors and the bankruptcy was dismissed 10 days later because it was...
 
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