Hello all, Hoping for some advice. I had a Citibank credit card chargeoff from college that I settled back in August. I've checked Eqiufax and Experian, and they're showing it's paid off. I went to the Transunion site, and apparently flubbed the validation process everyone spoke of in previous posts, so I don't know what's on that report; I don't want to assume that that one is showing paid as well, one; I'm going to send off to TU for it and wait for the snail mail response, so I guess I'm in Limbo for a while longer. I pay cash for all my stuff, have a decent job, have no debt, and have substantial savings and emergency fund. I want to get a house soon, and will eventually in the next year need to replace my vehicle. I'd like to get some positive stuff on my report so some of these things can happen. Any advice on the next step? Anyone know of a reasonable CC company with decent rates? I guess it's off to subprime hell for me? Thanks in advance. Torpedo
That's how and where you torpedoed yourself. Well, what's wrong with that? You paid it off, didn't you? So they are reporting the truth of the matter. Just what everybody expects them to do. Seems like you didn't understand what you read. One does not validate a report listed by the credit bureaus, one only requests verification. Two totally different things. You should expect exactly that. If it says something else, then they are not reporting the truth. Probably so, but what difference does it make? You already know that it will or should come back showing it to be a paid chargeoff. So what will you do next? Citibank isn't likely to lie to the credit bureaus for you unless you force them to do so by some means. I guess you can send round after round of letters trying to convince the credit bureaus that some lie you invented is the truth and the truth is a lie. I hear that's the way those credit repair firms do it. Of course, you could try a dispute about the 5th of December hoping the credit bureaus will be too busy to verify it and get it off that way and then you can sit back and hope it don't get put back on again. Maybe it will and maybe it won't. Your experience is nothing less than proof of the statement I make continually that you should never pay off a collection account unless you really want to live with it hanging around your neck like a dead chicken for the next several years. Of course, I'll bet you feel real good after having completed your moral obligations.
Hey Bill! I'm trying to re-establish good credit. I know what two of the three cra's say about me because I've seen their info on me. I don't know what is on my TU report. The "validation" process I spoke of in my post concerned viewing my TU report on line. Using their new site, they rejected my request to view my report on line for some reason, so I've got to mail off for that one. I'm just looking for advice on where a person in my boat, with a scar on their credit report, can/should start to reestablish credit. Do you know of any existing CC companies who would be willing to do business with me on semi reasonable terms?
Well, although the terms aren't all that reasonable, about all you have to do is put your mouse on any one of those ads over there on the right and click on it and you can try to see what they have to say. Those ads seem to rotate from time to time and those companies have to know that those they attract with their ads are not exactly the best risks in the world so they tend to be more lenient. There really are not a whole lot of them out there anymore. The choices are somewhat limited and so you just have to take what you can get.
Try your local bank. If you have substantial cash on hand, speak with a bank officer in person about your problem. Ask them to isue you a cc . Often, a bank officer can make a recommendation to the cc divison to issue a card for a customer.
I've looked at the subprime cards and probably will do that. Do you think I should wait and see if TU has the charged off account as settled before I apply for one of those cards and have an inquiry on my credit reports? Do the CC companies look at all three CA reports? If they don't do you know of a CC company that doesn't use TU? Thanks, Torpedo
Re: Planetfeedback Post Try Capital One, First Consumers National Bank or Orchard. I'd also suggest Chase Secured, but you might want to call and see how they'll react to the paid charge off. They seem to be moving in the direction of choosing customers with no credit as opposed to people with problem credit. The number for Chase secured is 1(800) 48-CHASE. Another option would be a local credit union. Some of them will secure a Visa or Mastercard with your deposit. I know, for example, TRW Federal Credit Union has a secured card with an interest rate of about 15%(?). If you belong to a credit union or are eligible for membership, you might want to look into it. Whatever you do, stay away from Cross Country Bank. Do not even contemplate applying for a card with these people.
Re: Planetfeedback Post To make life a little more simple, I'm going to ask if the scores have been obtained... I remember something about a mortgage being mentioned, and, well, let's take a look at the scores to determine what may or may not happen. DB
Hmm. I was told you can have up to 3 personal cards but if you have a personal card you can not have the business ones at all. If anyone really has personal AND business cards I'd like to know. Come to think of it, I'll just call the exec office and ask. I'd love to supplement my personal 3 cards with a busines card
(A) Providian/Get Smart appears to use Experian exclusively. (B) No one should ever publicize their credit scores under their own name. It's bad enough that these companies generate fictitious numbers and then use them as substitutes for genuine analysis of our credit histories. We would simply be granting them additional undeserved power over us if we repeated their defamatory fantasies as if they had some merit.
