BigH is retired from government service as an auditor. He likes this board because he has been steered to some good offers that he was able to take advantage of. However, he cringes when people come to the board, hoping they can ascertain how they can GET EVEN with CRAs. Granted the CRAs are far from perfect, but if you set out to defraud, it will catch up with you. Many of us have had financial difficulties, especially when we were young. Trying to obtain credit by fraud after one's mistake is not only illegal but immoral-oh and remember karma. Correct the mistakes and remember time heals all wounds and patience is a virtue. NEVER HAVE OR WOULD WORK FOR A CRA or CA:>) H
INQUIRES ARE OVER USED!!! I was wondering how long I have to wait to get a credit limit increase...INQUIRY!!! I wanted to find out about a low rate BT...INQUIRY!!! The interest rate I have on this account is too high, how about a lower one...INQUIRY!!! I was "THINKING" about getting a new car...INQUIRY X 6!!! I'm "LOOKING" to see if I can save any money with your INSURANCE company...INQUIRY!!! I want this job...but because of the "EX" I have poor credit...INQUIRY!!! INQUIRY FOR THE SAKE OF INQUIRY, IS STUPIDITY!!! INQUIRY THE PEOPLE TO DEATH, THEN YOU CAN CHARGE HIGHER INTEREST RATES!!!
YES...50-100 times per day... This was for ILLUSTRATION...PULL INQUIRES FOR ANY REASON OR NO REASON (or maybe to hurt your score so they can "JACK" your interest rate)... DIRECTED to BigH who wants people to STOP disputing inquires and wants the CRA'S to keep inquires on your report forever, I guess...
1*Protecting oneself from getting fleeced is hardly getting even! 2*Their scoring and reporting fraud has Joe Consumer caught up in a shell game! 3*Their con game is deliberate not an error! 4*They need to clean up their own act.It's not Joe Customers job! 5*These wounders are the big heals of all time! They aren't getting wounded the public is!
Inquires SHOULD be disputed if they are not valid or done fraudulently. If everyone would understand what a permissable purpose is for an entitly to pull a hard inquiry, less would be made of it. If you want insurance, yes an inquiry can be pulled. Why? The insurer wants to know if that person is teetering on the edge and may commit FRAUD. It has nothing to do with what they insure ie car, home etc. All cc Terms I have ever seen allow for the issuer to check the credit, review the credit whenever. Yes, by having a creditor you know they can check your credit. If you do not want them to, you close the account, period. H
Hi guys, I would like to thank all of you who answered my post. I think it is very commendable that some of you thought that file segregation is immoral as the FTC has asked us consumers NOT to do this unless one of us is opening a business. This reminds me of my Church. We are Mormons and have been told not to practice birth control. We do it anyway and our family is now complete. Whom have we harmed? Now to clarify things a little. Personally I and the wife have no interest in obtaining an EIN # for use in lieu of a SS#. Our BK is 5 years old and I have 6 credit cards and she has 7. We are driving a new Toyota Camry financed at a favorable rate. I have posted about these matters here since I joined the board in Jan. it is very easy to establish credit after a BK. However, we both work and are giving some thought to starting a small business. It just makes sense that if we have 3 credit files in 2 years and 1 file contains First Premier, AMEX, the credit union and Citibank with no derogs and the other 2 show tons of credit but a 7 year old BK; then we may apply for credit under the business. Again, whom would we harm? It is very interesting to me that no-one here mentioned that they had used file segregation. Apparently, there are no small business owners answering this post. It is not my intent to insult or judge anyone. All the replies appeared honest and were welcomed by me. I may be disappointed here, but I would love to hear someone come forward and say that they have used file segregation and how they feel about it and how it worked for them (advantages and disadvantages)
For what it's worth, I know a few people who have tried using taxpayer ID numbers, etc. to obtain new credit but what happend in one case was that they were basically denied everytime. In another case, the number was merged with their SSN on their credit report even though they used slightly different names (used first and last name only on taxpayer ID number as opposed to full name on SSN) . They even used an address in a different state and the files still merged! And the other person got the number but was too afraid to use it for fear of prosecution. I personally thought about the idea and have read manuals, etc. on how to make the taxpayer ID work but I figured that it was easier for me to do clean up then to spend xx time trying to establish credit under that number.
Is this a joke???? Are you sure that's not 22.9%??? Better read over your contract and check because that sounds pretty fishy to me!
I did have an EIN for a small business I ran for about three years. I never did establish credit under it...although I did apply with Amex using both my EIN and SSN. It was helpful when ordering from other companies though because they require an EIN or reseller ID. Based on my own experiences, I just think that would be the harder way to accomplish things. L
Re: INQUIRIES DISPUTED I have no problem with the Inquiry disputes, and I will cite the following, which has not been mentioned: "from a little insert from a CC solicitation I got in the mail, exact quote in BOLD PRINT "IT COSTS YOU NOTHING" to respond. *************************************** Wrong!!!!!! It will cost me a HARD INQUIRY, WHICH WILL REDUCE MY SCORE, WHICH MAY TRIGGER A HIGHER APR AFTER AN AR<AUTO. REVIEW>, BY AN OTHER LENDER WHICH WILL COST ME PLENTY!!!! SEE HOW THEY LIE!!! I SAY, FIGHT FIRE W/ FIRE, THEY MADE THE SYSTEM TO TRAP PEOPLE, WE FOUND A LOOPHOLE, AND AND WILL GIVE IT RIGHT BACK TO THEM.
Re: INQUIRIES DISPUTED EXCERPTED FROM BIG H POST: "Trying to obtain credit by fraud " ****SAY WHAT???? HOW IS AN INQUIRY DISPUTE = FRAUD? HOW ABOUT CRAS AND CCS IN CAHOOTS TO DEFRAUD THE AMERICAN PUBLIC BY USE OF DECEPTION, SEE MY POST ABOVE, THIS IS NOT TO MENTION THE USE OF FICO SCORES TO GENERATE <JUSTIFY> MORE BOTTOM LINE. NO OFFENSE BIG H, BUT I DON'T THINK YOU ARE LOOKING AT THE BIG PICTURE HERE.
I think that the reason no one here is fessing up to doing this is because it probably wouldn't work. If you use an EIN to apply for individual credit, it is FRAUD. The app asks for an SSN not EIN and I'm sure that it would raise red flags when they check credit. You would only qualify for sub prime cards since there is no credit history and the CRA's would fgure it out anyway. If you want to use an EIN to obtain business credit you will also have to provide your SSN unless you have been in business a long time and can prove business credit worthyness with tax returns, Dunn and Bradstreet ratings, etc. It's not so easy as you think. Maybe it was years ago but not anymore.
I am not a small business owner, but I run a couple small businesses - so I will answer your question to the best of my ability. Most (not all) want your SSN and EIN. ALL credit card companies want both - most charge accounts want both (charge accounts are little easier to get around - I have never put down a SSN just the EIN). There is no way possible to get a credit card for the business without a personal guarantee - Amex requires this, Citibank, BofA, etc. They will not report this to your personal credit reports, but they will pull your personal report. They will also deny you based on your personal report, even if the company is the one applying. Loans for the business work the same way. The bank wants everything they can get their hands on - company financial reports, personal financial reports, credit reports, etc. The best thing to do is play by the rules. If you have a product/service that could be profitable - set up a business. Do not set up a business because you want to create a new file - it isn't going to happen. Dani PS I'm sorry for the abrupt manner that I addressed this post, but I take running a business very seriously and I have no fondness for someone (this is not being attributed to you, but people in general) who look at it as a quick rich, clean up credit, scheme.
1*The fraud is the way they use them to trash your credit dunk your score and use this as an excuse to over charge folks on loans and insurance for something that has nothing do with our trustworthiness or responsibility. 2*I just explained in 1 why much needs to be made of it. 3*There is no connection between your credit report and insurance. Why! SEE #4. 4*Insurers want to see scores so they can pick out the suckers to over charge. The scoring shell game is bad enough in loans but it's much worse for setting insurance prices. If score based priceing is so great why not use it for pricing Cars, Boats, Homes Etc? ! Scoring Ought to be outlawed period. 5* What it has to do with is fleecing you. 6*That's not the problem.The gripe is how they handle them and what they do with them.
Taxpayer ID# Thanks for your response Dani. Finally, someone came forward to discuss using the EIN# and obtaining credit. Nothing you said was offensive. What my friend said is that she obtained the EIN#. then she got a First Premier card. A year later she obtained Citibank. 1 to 2 years after that she got the AMEX cards. No SS# was asked for as the EIN# was used in it's place.. No personal guarantees were required. The EIN# simply created a credit file. She has had to pay through the nose for the First Premier card. But she says that this should be considered the cost of doing business. She would open even more credit under the EIN# but she does not need to as she is using conventional tactics and the passage of time to fix her SS# based credit file. Anyone else have any info ?? I think this is an intriguing idea that may work for many people.
Re: Taxpayer ID# King....Why do you keep pursuing the idea when it is clearly a FELONY? It almost seems like you are fishing for support to make yourself feel better about doing it. Sounds like you are kinda hoping someone talks you into it. I don't think anyone here is gonna do that.
Re: Taxpayer ID# The social security number was never intended as a universal ID#. It was intended for the Social security old age, disability and survivors program. How the CRA's distorted it's use for credit application is obscene. I have advocated nothing related to a felony. tmitchell, I respect your view but please re-read my posts from scratch. Remove this bias you have about the EIN# when you do the reading.
Re: Taxpayer ID# I have never seen an application that just asks for an ID number. Every credit app asks specifically for your social security number. By entering an EIN in that area you are misrepresenting yourself and lying to the potential creditor. That is what we are all trying to tell you. If you can find a credit application that asks for only an EIN or "generic 9 digit ID number" then you would be fine but if you enter an EIN in when asked for a SSN it is a felony. If you apply over the mail using an EIN instead of SSN it is mail fraud. If you apply over the phone or internet it is wire fraud. Here is a quote and a web site with info: Consumers actually were directed to apply for an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). EINs resemble nine-digit Social Security numbers, and are usually used by businesses to report financial information to government agencies. Individuals were told to lie and apply as if they were starting a business. Once consumers had this "new" number, the credit repair service told them to use it in place of their Social Security number on credit applications. Because your credit history is tied to your Social Security number, the person's old, negative credit information would not be attached to the new EIN. However, several aspects of the credit repair service's program led consumers to commit fraud. It is a federal crime to: make false statements on a loan or credit application. misrepresent your Social Security number. obtain an EIN under false pretences. In addition to the FTC's legal action against the credit repair companies, the office of the Treasury's inspector general for tax administration investigated more than 100 credit repair companies and individuals that sold or used the EINs to defraud creditors. Dozens of charges were filed, ranging from misrepresentation of a Social Security number to mail fraud and conspiracy. The office is still investigating hundreds more people who have illegally used EINs. http://www.creditmatters.com/articles/072400_165.asp No one can stop you from trying but I doubt you will get far. Think about how will answer when your Bishop asks you if you are "honest" in your business and personal dealings. Kim
