unknown
New Castle,#2Author of original report
Thu, January 17, 2013
I don't know everything about credit. I am 28 yrs old. But I have been around the block with these cards since I was 16 since a Capital One Highschool card.I had a business for 10 years my bankruptcy debt was business debt and yes it carried over to my personal cards. My business wasn't LLC or Inc. Now I'm disabled.I have no need for an auto loan or a mortgage right now. I have an actual Fico score of 676 on Transunion. I cannot get Experian through myfico.
But my complaint is not an opinion its fact they treat their cardholder like crap so like you said close them they don't seem to care anyways. You hit everything right on the money what you said. My mother says the same thing. I guess I been brain washed by these companies telling me more accounts the better. These off beat scoring models not vantage score. I'm aware there are dozens of credit scores out there it was a figure of speech when I said I basically score the same. Truth be told. Creditors look at Fico scores but don't solely rely on that only. They use their own reasons from your credit like Chase, American Express.
Thanks for the good advice.
Robert
Irvine,#3Consumer Comment
Wed, January 16, 2013
Based on the comments in this report and your other one a few things are very clear. You think you know everything about credit and think you are getting the "best" of the creditors. While I am not going to even come close to claiming I know everything, I will tell you that you are not only heading back to the Credit Rating Junk Yard..you are heading there in a Jet Plane at full speed.
What kind of excuse is that?
- And how many excuses did you make in trying to justify you filing for BK in 2009?
Even now you are still blaming the "evil" creditors for not doing what you "think" they should be doing..after all you know everything. The fact is that the average consumer has about 3-4 credit cards..you have ELEVEN. They don't have to do anything to change their terms. And contrary to what you think every credit card has the right to close your account out without warning or reason..yes even Citibank and Capital One. If you don't like paying the Annual Fee then close the card..it is that simple. Credit age is only a small portion of just about every credit scoring out there, and even if this is your oldest card(within the last 2 years) loosing 1 of 11 cards is not going to kill your credit. Then after a month to see the effect, close out the other card. Depending on several factors you may even see your score rise..with some scoring models an excessive number of cards can actually harm you.
But I filed Bankruptcy in 2009 and its been 3-1/2 years since then and my credit is considered fair-good on any credit scoring model. Mid 600's. - 700.
- Any scoring model..really? You do know there are a couple dozen out there. Just taking the two most popular FICO and Vantage a score in your range could be considered fair to very high risk. On the high end a Vantage Score of 600-699 is considered a "D" or very high risk, and what school have you gone to that a "D" was good or even fair? Even into the mid 700's you are considered a high risk.
If you really think you have good credit, then go try to get a real loan(such as an auto loan). What you are going to find out is that you trying to "game" the system isn't really working. With your BK, the number of Credit Cards you have, and what is inevitably the number of recent inquiries you will get a huge serving of a credit reality sandwich. A person with a true FICO score in the high 600-low 700's could easily get a auto loan for around 5%, with your "gamed" score you would be lucky to get a rate under 15% with a sub-prime lender. Oh and if you say you got an auto loan after your BK with a low interest rate already..unless you have a co-signer I will call BS on that.
I don't expect you to believe me, or change your ways. But I do hope you keep these comments in mind when even a few years down the road you are having the same issues you have showed in the past with credit. Where perhaps you can then try to keep someone else from making the same mistakes..over and over again.