Credit problems & Providia

Hi,

I just found this website and I am so glad I did! In 1999, I ordererd my credit reports. No surprises, my credit was in horrible shape. I was in college during a time when all you had to do is fill out a credit application and mail your validated ID and 2-3 weeks later you would receive the card. Well, I wasn't prepared to handle the credit card debt. Therefore; all of my reports were R9's and charge offs.

I had no idea what to do, so I searched the internet and learned about credit repair. I negotiated some of the debts payment for removal. Some, I disputed. I started because I needed a car. The dealer ran my credit and I had a beacon score of 472. I financed the car at 21% and continued to work on my credit.

Six months later I refinanced my car through my credit union at 8%. My score increasted to 625. I have all the sub prime credit cards. Orchard, ACE Visa now Household, and a Fedelity Mastercard wich is also household, and FCNB.

Since Household took over 2 of my cards, I have nothing but problems. Can you say stingy with increases?! Well I heard alot about Providian, I called and got a gold car with a 1K limit, totally unexpected! Also, I do have the 23.99% apr but I do have the 25 day grace period with ulimited online access and payment. So guess what? Household will be paid down (not off) and I won't use it anymore. I can't close it because the card is 4 years old and I don't want to hurt my credit score.

Household Bank (Renisance Bank Card) seems to treat UNCB customers with little respect, and they turned me down for an increase. They didn't cite reasons. I decided to become a Providian customer. I spoke with them and they told me about their products and how to use them wisely and not go over the limit. Increases are almost gauranteed if its used wisely.

If you are just starting your journey on credit repair, it works. There will be a lot of frustration, highs and lows, and joy when you receive the results and most of the negative items are deleted. I would encourage anyone to study the repair sites, make it your hobby. I think I read every site several times asked questions ect.

One thing I can say about this board is (this board) seems to be the most friendly (not a lot of fights ect.) like the others I have read. Thanks you guyz and gals!

 

Re: Credit problems & Prov

Hi Shelby!

Well most of it I completed before I joined Junum.com. As I stated in my earlier post, I ordered my reports in December of '99. I disputed multiple items in one dispute. I can tell you what I have learned. Most of the larger credit card banks and large department stores will verify items. I don't know what you have on your reports but I know mine was BAD! The auto dealer wanted to make a deal so bad! I purchased my car in December of 1999. Dec 4th to be exact. He reviewed my Equifax report. I had a United Credit National Bank Visa card with a $600.00 credit limit, a FCNB Mastercard with a $500.00 limit, my auto loan with through Chrysler Financial, 500.00 limit with Speigel, and my student loans. I had a ton of negative information, including 2 judgements. One Capitol One Charge off for 7K, Automotive Acceptance a voluntary repo 5 years before, and about 12 old charge off accounts. At that point my score was 472. I didn't know what that was or what it meant. He told me he could see I was rebuilding my credit, and they could finance my car through Consumer Finance Corp at 21% My payment was $465.00 on a 1997 Nissan Maxima.

Here is a secret I learned from a credit board. I don't remember which one. Send disputes the middle of November through the beginning of December. The logic is the CRA's won't be able to verify the information wtihin the alotted time. Well for Equifax and Experian it worked. I had 4 items deleted. TU was different, I wasn't as successful, so I marked my calendar and started again. I kept doing it until Jan of this year, when I hired Junum.com. Out of the 14 items challenged, 8 items total were removed on all three reports.

You will learn little secrets while in the process. For example, I had 3 medical collections listed on all three reports. I knew the insurance paid. For some reason I kept the copies of the Explanation of Benefits proving the insurance paid. It listed the payee, check number, and the amount paid. The collection agencies verified the debt. So, I bluffed the Emergency Room. I called spoke with the Billing Manager. I told them I had copies of the Explanation of benefits and if they didn't remove the collection accounts on my credit report I would sue the Dr's. Also I would report them to my insurance company for insurance fruad. She asked me to fax her a copy. She reviewed it and sent me a certified letter stating they would notify the collection company to remove all derog trade lines. I had 3 derogs removed from all three reports quickly.

The key is to study your reports, know them like the back of your hand. Read message boards over and over again, then again in case you miss something. Make it your hobby! Ask questions. When you applied for your mortgage what did your lender/broker say? Did they tell you what you needed to do?