I Hate Credit!

[split_joel]

I have new credit but my credit isnt bad I have made every god damn payment on time and i want to finance a laptop and I do not get approved for shit!

[Pimpin_J]

Trying it online or at a store?

[split_joel]

Originally Posted by Pimpin_J

Trying it online or at a store?

both

[bausch]

Get a free credit report from Equifax, Experian and Transunion and check it for errors. If there are any errors dispute them.

[flashfire]

unless you have or have had tons of debt you dont get a good score, go figure

[EscortBiz]

your other option is to go with say a 4 pay plan program where they wont check your credit

just an example

http://www.qvc.com/qic/qvcapp.aspx/app.detail

look for those type of companies

and like bausch said get your credit report at myfico.com and see whats on it

[Profits of Doom]

If you ever want to really know how to fix your credit hit me up on ICQ 432-524-419 and I'll give you some pointers. You'll hear a LOT of conflicting information but I owned a couple of credit repair websites a while back and I'd like to consider myself kind of an unofficial expert. No I'm NOT selling anything, I just get a kick out of screwing the credit bureau's, which are nothing more than private businesses that are subject to the letter of the Fair Credit Reporting Act and are NOT above the law in any sense.

[bausch]

Originally Posted by Profits of Doom

If you ever want to really know how to fix your credit hit me up on ICQ 432-524-419 and I'll give you some pointers. You'll hear a LOT of conflicting information but I owned a couple of credit repair websites a while back and I'd like to consider myself kind of an unofficial expert. No I'm NOT selling anything, I just get a kick out of screwing the credit bureau's, which are nothing more than private businesses that are subject to the letter of the Fair Credit Reporting Act and are NOT above the law in any sense.

Don't tell me you send those annoying "form letters" quoting the law etc in order to dispute items to the CRA's... Credit bureaus can tell when the dispute is coming from a credit repair services due to the format and lettering of the disputes. Sometimes certain creditors will even report which accounts are being handled by a credit counseling service and it will actually show as negative on the report because of that...

[Profits of Doom]

Originally Posted by split_joel

I have new credit but my credit isnt bad I have made every god damn payment on time and i want to finance a laptop and I do not get approved for shit!

By the way Joel, you can make every payment on time but if you have a high debt to income ratio it won't matter. Also, you say you have new credit...does that mean you've opened up all of your accounts recently? That could be another flag. There is a way to add years of positive credit history to your report...

[EscortBiz]

Originally Posted by bausch

Don't tell me you send those annoying "form letters" quoting the law etc in order to dispute items to the CRA's... Credit bureaus can tell when the dispute is coming from a credit repair services due to the format and lettering of the disputes. Sometimes certain creditors will even report which accounts are being handled by a credit counseling service and it will actually show as negative on the report because of that...

thats BS most letters going to a beaure to dispute an item will look the same even if you do it yourself there is a good chance you download the template letter from the net.

now no need to knock dispute letters, its a hit or miss and in most cases it will get a least one thing off if you try.

but there are so many other ways

[EscortBiz]

Originally Posted by Profits of Doom

By the way Joel, you can make every payment on time but if you have a high debt to income ratio it won't matter. Also, you say you have new credit...does that mean you've opened up all of your accounts recently? That could be another flag. There is a way to add years of positive credit history to your report...

a way to add years
? how getting an additional on someone who had years?

[Profits of Doom]

Originally Posted by bausch

Don't tell me you send those annoying "form letters" quoting the law etc in order to dispute items to the CRA's... Credit bureaus can tell when the dispute is coming from a credit repair services due to the format and lettering of the disputes. Sometimes certain creditors will even report which accounts are being handled by a credit counseling service and it will actually show as negative on the report because of that...

No that is an old an ineffective method. Each case is unique but each can be beaten. The negative you receive from a credit counseling service is due to the fact that you are negotiating your debts for a fraction of what they actually are and even though the collection bureau's will stop hassling you you are still considered slow pay/delinquent, etc.

[bausch]

Originally Posted by EscortBiz

thats BS most letters going to a beaure to dispute an item will look the same even if you do it yourself there is a good chance you download the template letter from the net.

now no need to knock dispute letters, its a hit or miss and in most cases it will get a least one thing off if you try.

but there are so many other ways

Its better if you dispute it yourself than going through a credit counseling service. There's nothing wrong with disputing it yourself, but I think most credit counseling services are not a good deal because the consumer can do the same thing him or herself.

I used to work for a credit bureau many many yrs ago and we got tons of disputes from the counseling services and they did not look the same as the ones from the consumer directlu. They would write in their own elaborate disputes quoting this and that law and FCRA act and trying to make it sound all eloquent, and they would be constantly wasting their time by disputing the same thing over and over again.

[Profits of Doom]

Originally Posted by EscortBiz

a way to add years
? how getting an additional on someone who had years?

Yes, you get an additional card from someone that has had a long history with their card. But you have to ask the credit card company to report this for you, as they won't do it automatically (some cards do, but you should still ask). Also, you want to make sure the person you are getting a guarantor account card from always pays on time and doesn't have a high debt to income ratio.

[Profits of Doom]

Originally Posted by bausch

Its better if you dispute it yourself than going through a credit counseling service. There's nothing wrong with disputing it yourself, but I think most credit counseling services are not a good deal because the consumer can do the same thing him or herself.

I used to work for a credit bureau many many yrs ago and we got tons of disputes from the counseling services and they did not look the same as the ones from the consumer directlu. They would write in their own elaborate disputes quoting this and that law and FCRA act and trying to make it sound all eloquent, and they would be constantly wasting their time by disputing the same thing over and over again.

Credit counseling services don't dispute for you, they simply work with your creditors to consolidate your bills so you can make one monthly payment. They are good if you are in debt, don't want to declare bankruptcy, want the collection agency's off your back and want to pay off your bills but they still ruin your credit.

[bausch]

Originally Posted by Profits of Doom

Credit counseling services don't dispute for you, they simply work with your creditors to consolidate your bills so you can make one monthly payment. They are good if you are in debt, don't want to declare bankruptcy, want the collection agency's off your back and want to pay off your bills but they still ruin your credit.

I meant credit repair services, not the services who actually help you consolidate your bills. I'm talking about the ones who actually dispute for the customer, such as Lexington Credit Repair. It's all junk because you can do the same thing yourself.

[EscortBiz]

search google for lexington they are bullshit

when you need a home loan is when the score really matters and it can really make a difference on the rate you get and the conditions the lender puts on you

a few things

first if you have a capital one card or a amex with no preset limit get rid of it, they dont report your limit so your balance is looked at as if thats your limit

pay off all cards

ask for deleltion letters when trying to settle a debt

and order a rapid rescore they have the broker pull the report 48 hours later

[Profits of Doom]

You can do the same thing yourself, but you should read some of the resource sites first. For instance, if the Fair Credit Reporting Act defines a reasonable amount of time to verify a dispute as 30 days, are you better of disputing online or by mail, where they might not even open your letter for a week after they receive it?

[EscortBiz]

Originally Posted by Profits of Doom

You can do the same thing yourself, but you should read some of the resource sites first. For instance, if the Fair Credit Reporting Act defines a reasonable amount of time to verify a dispute as 30 days, are you better of disputing online or by mail, where they might not even open your letter for a week after they receive it?

OR i think 2 of the three beaures let you call in get a confermation number then you can do a fax

[Profits of Doom]

Originally Posted by EscortBiz

OR i think 2 of the three beaures let you call in get a confermation number then you can do a fax

Right, but you are better off doing it by mail, where the law states the dispute starts at the date of the post mark of the letter. If you do certified/return receipt requested, and they don't even get to your letter for a week or so, you have your proof of date sent and have time on your side.

[Fizzgig]

Credit is great, it's payments I hate.

[studiocritic]

hey doom.. hit me up on ICQ if you have a few minutes, i have some questions for you

[split_joel]

Hey, what I mean by new credit is that up untill a year ago I had no banking accounts now I do, I have a car loan, and a cell phone paid by my kick ass boss. I got one credit card with a 500 dollar limit, all payments are on time never been late. Credit score so far is a 652 which isnt good or bad it sucks. Its okay to have 3 years of credit with a score of 620 and get approved but one year with a score of 652 and no one will touch you! I hate credit

[After Shock Media]

Originally Posted by split_joel

Hey, what I mean by new credit is that up untill a year ago I had no banking accounts now I do, I have a car loan, and a cell phone paid by my kick ass boss. I got one credit card with a 500 dollar limit, all payments are on time never been late. Credit score so far is a 652 which isnt good or bad it sucks. Its okay to have 3 years of credit with a score of 620 and get approved but one year with a score of 652 and no one will touch you! I hate credit

You need some more credit.
The car loan will give you a good payment history.
I have had a cell forever and not once have they reported.

Now do not keep applying for credit, doing this to often lowers your score.
When you do apply for credit go for easy ones, get another low limit card.
Keep both cards paid off at all times.
You would more than likely be a shoe in for a home depot, mervins, or other store card with a 652 score.
Every so often request a credit limit increase on your cards. Ideally in your situation I would say you should have 2-4 cards.

[Wagerboy]

Most of this info is false. You are not going to get approved anywhere with a 650 score...not a store, not a pc, not a car. The change in the privacy act and fair reporting acts changed the buying structures of the lenders. You are what we call, sub prime. Your credit isnt bad, but you do not have enough to qualify for anything of value. You will get cards backed by discover, like a walmart card or zales. They wont give any decent limit though, but its a way to build.

[Kard63]

Originally Posted by split_joel

I have new credit but my credit isnt bad I have made every god damn payment on time and i want to finance a laptop and I do not get approved for shit!

Pay $20 for a credit report and you can probably find a way to get 50 points the fast way. I'm just under 800 currently.

[NemesiS876]

I Hate Credit too, that so... in our fu.. country

[Barefootsies]

Originally Posted by Wagerboy

Most of this info is false. You are not going to get approved anywhere with a 650 score...not a store, not a pc, not a car. The change in the privacy act and fair reporting acts changed the buying structures of the lenders. You are what we call, sub prime. Your credit isnt bad, but you do not have enough to qualify for anything of value. You will get cards backed by discover, like a walmart card or zales. They wont give any decent limit though, but its a way to build.

Actually this information is almost completely false.

If it had included the following, "You can get approved, and loans but it's going to hurt. You are not going to get a good prime interest rate...", then it might hold a shred of truth.

[GAMEFINEST]

credit sucks