86

fine because the application was declined anyway. No it isn't fine. Credit card applications generally need a hard pull, so get it rectified. Firstly check if an application was really made on your behalf. Some companies use this ploy to pull you into a scheme of making you apply for a credit card. Secondly call up the credit card company and ask them ...


54

Can you pull a credit report on your adult child, spouse - or even any other adult for that matter? If you have access to things like national ID (Social Security number), can answer security questions related to addresses they have previously lived and outstanding major debts they may have (house loans, car loans, etc), then sure you physically can. Now, ...


45

My question is what more can I do to ensure this doesn't happen again. Credit monitoring services can be helpful at detecting things like this early, but they can't actually prevent them, clerical errors will persist. Shouldn't the hospital be penalized for ruining my credit over this 7 month period. I never received bills from them for the outstanding ...


33

No, freezing your credit will not freeze your score. You are continuing to make payments and time continues to pass. If you have credit cards, your credit utilization continues to change as your balance goes up and down. All of these things factor into your score. A credit freeze prevents new creditors from accessing your credit report, but it does not ...


28

This can be a case of someone trying to use your identity to obtain credit. I would put a fraud alert on my credit immediately. I went through something similar... got denial letters for credit I didn't apply to. A few months later I get hit with a credit ding from a pay day loan company that apparently allowed the thief to get a loan who obviously didn't ...


27

The change was so dramatic because you went above 50% utilization on a single card, which has a negative impact even if your total utilization isn't that high. It's one of the fun nuances of FICO. Don't worry about it. The next time that card reports out, the balance will show lower and your score will bounce back up. You need to remember that although ...


24

In the long run, yes. In the short term, no. Having more accounts and higher total credit limit is a good thing. From the potential lender's perspective, someone else has apparently reviewed your profile in the past and decided that you were creditworthy. However, building credit account numbers should be a gradual process, just like accumulating the ...


23

Time: you will simply have to wait because as far as the computers are concerned, you are a credit risk and only time will heal those wounds. Be credit worthy: during the waiting time you have to build the credit worthiness. Standard things are: Pay your bills on time, every time. Live within your means Fix past mistakes you are responsible for, or work ...


22

Its not a scam. The car dealership does not care how you pay for the car, just that you pay. If you come to them for a loan they will try and service you. If you come with cash, they will sell you a car. If you come with a check from another bank, they will accept it. I would try to work with Equifax or a local credit union to figure out what is going ...


19

Yes you can do this yourself. I cannot speak for all the credit repair companies, but generally they are not reputable. Even if they are trustworthy, they cannot do anything you cannot do yourself. Freeze your credit. Lock it down and prevent any new activity. This is for safety and I want you to do it so you know where you stand. Get a copy of your ...


19

Would opening a second credit card contribute in any meaningful way to my credit mix or no, since it's the same type of credit? Yes, multiple lines of credit help your credit score, even if they are all credit cards. There are experts on both sides of this argument though. For example, Fico says that you shouldn't open a new credit card just for the credit ...


18

FICO is a financial services company, whose customers are financial services companies. Their products are for the benefit of their customers, not consumers. The purpose of the credit score system is two-fold. First, the credit score is intended to make it easy for lending institutions (FICO's customers) to assess the risk of loans that they make. This ...


18

If you have a bill for $100 due at the end of the month and only pay $80 of it, you will have failed to meet your obligations and this will be another hit on your credit score. On the other hand, if you pay $80 early in the month and $20 late in the month, making the full payment before the due date, that would be an example of you meeting your credit ...


15

The Amazon.com Store Card Terms and Conditions state the following: Credit Bureau Reporting. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be shown in your credit report. The card is issued by Synchrony Bank. Generally, store cards do report to credit bureaus, so I ...


15

By law, your wife can get her full Equifax credit report (sans-FICO score) instantly (once every 12 months) via https://www.annualcreditreport.com She can even get her FICO score with a 7-day free trial of Equifax Complete Premier.


14

These are the components of the FICO score. When you analyze this a bit, you see that both Payment History and Length of Credit History are time-based. You can have good payments going forward but only in real time. "Bad" things will take 7 years to fall off the back end. The 'amount owed' is really credit utilization. If I am going to need to charge say $...


14

You are making an assumption that may not be true: Unbeknownst to me, some apartment debt I paid had already been sold to a collections agency before I actually paid it. Typically debts are sold to a Debt Buyer, whereas a Collection Agency works on commission to collect debts on behalf of the creditor. If your debt was actually sold, you should have ...


13

The short answer is you can't. Even if you paid off both loans today in full, they would remain on your credit report for a number of years, because they are part of an accurate picture of your financial record. I would strongly suggest telling your husband about the loans. When I received my mortgage the loan officer told us that he often had spouses ...


13

I actually had a similar situation when I tried to buy my house. I paid off all my loans and was proud of my "debt free" status. I had no car note, no student loans... absolutely no debt, but I did have a bank-issued credit card. (USAA, not Chase, but I assume the same may apply). When I tried to get a home loan they told me I had "absolutely no ...


12

You say Also I have been the only one with an income in our household for last 15 years, so for most of our marriage any debts have been in my name. She has a credit card (opened in 1999) that she has not used for years and she is also a secondary card holder on an American Express card and a MasterCard that are both in my name (she has not used the ...


11

If I had a business and was able to claim a feature, I would. It's simple marketing. If in fact, opting out helped your score, the site would promote that feature. Soft pulls for prescreened offers are not counted. No more than my constant peek at my score through Credit Karma. Opt out, if you wish. The benefit of course is less mail, which saves trees. ...


11

You say So about 6 years ago, I became 'late' on some payments to the then sallie mae. Experian says Late payments remain seven years from the original delinquency date. So if you wait about a year, the late mark will disappear. That's going to be the simplest and most reliable way to get rid of it. It is possible to contest negative marks ...


11

The hospital has done what they can do in terms of repairing the damage; 30 days is reasonable given reporting frequency. No permanent harm has been done in terms of your credit. Further, since this is a medical collection, it didn't do a whole lot of damage in the first place; many credit scoring algorithms do not consider medical collections at all or ...


10

Collections companies buy debt for a fraction of the face value of the debt (as little as 5-7 cents on the dollar), and you can often settle debt for a fraction of the face amount (perhaps 10-25 cents on the dollar). But there are several considerations. Do you owe the debt (is it a legitimate debt), can you afford to pay the debt, what is the age of the ...


10

Unfortunately you wife was late in paying her bill, and based on your question she was very late. Those are the things that the companies that extend credit need to report. While you wife does have a sympathetic excuse the fact still remains the bill was overdue. When you apply for the loan, the lender will want all hiccups explained. They may decide that ...


10

Well, the obvious first step is to contact the credit bureau which is reporting the "hard pull" on your credit and inform them that you did not authorize the inquiry. As with any other credit dispute, the bureau should then contact the dealer(s) and require them to show proof of your authorization for those inquiries. Be careful, though. My guess is that ...


10

Nope. I don't mean to dis a professional (your lawyer), but s/he created a situation in which this was an inevitable result. In hindsight, if I were forced into such an agreement, i.e. stuck on the mortgage, I'd rather be making the payments, and have the burden of collection from my ex, or deduct it from the child care payments or alimony. That would be a ...


9

Short Answer: If your claim is that it is your ex-wife's debt and not yours, maybe you just need to send a copy of the divorce papers with your dispute to the credit agency to show it isn't your debt. You were already divorced when the debt was incurred, right? Longer Answer: For others wanting to initiate the dispute process. Source: US Federal Trade ...


9

Pre-approved means they ran some basic info about you through a very simple model and have guessed that you are likely able to pay it back. Of course you won't actually get the loan until you provide all the detailed info they need. They got your name and address because somebody sold them a list of customers. It could have been a college, a store, or a ...


9

You should start by calling the clinic and asking them to tell you how the visit was coded. Some clinics have different billing codes based on the complexity of the visit. If you have one thing you are seeing the doctor about, that could be coded differently than if you have 4 things you are seeing the doctor about. In fact, even if you are there just for ...


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