hmmm me thinks we are talking to ourselves! It's fun to discuss what he might have done with the cash lol
hmmm Just thought I would drop by for the herd update. Got rid of all FUSA cards and Fleet. Feeling a little better, but I don't think it helped my score any. Still stuck in the 720-740 range. I'm all biz credit all the time from now on. No more accounts on my personal cr. I have 15 years of credit history, but my average age of accounts is a little low since I went on a credit binge shortly after discovering CN a couple of years ago. George, hope all your credit dreams come true. Did you ever get an increase from MBNA?
Re: hmmm MBNA??? YOUR KIDDING RIGHT??? GOIN' ON 9 YEARS!!! I think I'm gonna' send a letter to my REGIONAL VP and DRAW THEM A PICTURE!!! SEND A COPY OF MY TRANS UNION CREDIT REPORT EMPLOYER H/H INCOME SHOW THEM ALL THE AR'S ON THE BIG 3 EXPLAIN WHAT 25+ YEARS OF "PERFECT" CREDIT HISTORY MEANS ALL MY FRIENDS THAT HAVE MBNA CARDS HAVE HAD 9 OR MORE "AUTOMATIC" CREDIT LIMIT INCREASES ON THEIR CARDS IN THE PAST 9 YEARS!!! ME NONE!!! NOT EVEN $400!!! (TO ROUND IT OFF)
Re: Re: hmmm NO BIZ CARDS... I just get CASH BACK for any out of pocket expenses...LIKE $2,000+ DONUTS every year... EVERY FRIDAY AND ONE SATURDAY PER MONTH FOR EVERY MONTH EXCEPT DECEMBER...
Re: Re: hmmm I wouldn't close any accounts, the thing I learned is that they count your closed accounts, too(Just look at your reason codes on myfico and it will tell you their figure on how many accounts you have)! I have found that usaa, both citi banks and first usa will remove old closed accounts that are positve if you ask them. Or I recomend trying to dispute them to remove old closed accounts. I think fico did this to prevent people from being able to manipulate their fico's over a short period of time.
Re: Re: Re: hmmm YOU WOULDN'T WANT TO BE ABLE TO MANIPULATE YOUR F.I.C.O. NOW WOULD YOU!!! WHAT IS NEXT??? NOT ABLE TO CLOSE ANY ACCOUNTS??? CAN'T BT ANY ACCOUNT TO $0.00 CAN'T ASK FOR LOWER RATES??? CAN'T PAY OFF YOUR ACCOUNT TOO FAST???
Re: hmmm Yeah really! Next they'll charge us for the air we breathe too! Sorry just thought I'd jump on the George soap box lol. I'm curious what the previous poster was talking about - WHY not closing them. I am trying to find out, if anyone knows, how they average the age because I WANT to close and rid myself of my sub prime cards, but am worried because they are my oldest cards. Any tips?
Re: hmmm I know that they count closed cc accounts in your grand total number of revolving accounts because my number of revolving accounts became my #1 reason code on my equifax FICO. It later on stated how many revolving accounts they said I had and that number matched my active accounts plus my closed accounts and excluded accounts that were lost or stolen.
Re: hmmm I think it is absolutely bizarre that closed accounts are calculated (in a decision as to whether or not a person has "too many cards"). I just don't get the logic. And has anybody else noticed that old closed accounts sometimes keep updating so that the "this account will stay on record until X date" keeps changing? I've seen this with at least 4 lenders. They make closed accounts appear as if they are still open and active (irregardless of the comment "Account closed by consumer" ) My suspicion is that lenders want to keep all the positive accounts they can on record (pretending that closed accounts are open) to help their "stats." On the other hand, when my perfect paid auto loan vanished after 7 years, I could not get it back on to save my life. I was told that the 10 year reporting period was "an option."
Re: hmmm I think that FICO counts open accounts when calculating your age of accounts. The number of accounts is a separate factor. This is consistent with FICO in general. When I closed a couple of really old crappy low limit high APR cards, my score tanked, age of accounts came up as a reason, and the too many accounts reason remained. Just try to come up with a way out of this one. Which explains why I'll never open another personal CC for the rest of my life. It really kills me because I worked hard to get perfect credit, and now I can't use it...
Re: hmmm Sometimes I wonder why I read all this, it's depressing. I agree with Wolverine, if I'd known how yukky adding too many personal cards to my arsenal was, I would have focused on biz credit, and that's all I'm doing now. What biz cards/lines do you use/have w? And I agree, I too think the cra's are all about keeping us looking as bad as possible. I am confused about this average age of accounts tho, because richguy just posted on another thread that closed averaged in. I'm afraid to open or close anything! ACK! My dh is sick of hearing about it and refuses to do anything because he refuses "to be a slave to credit" - geez are we??? I don't get up at 6a to read this anymore. Um, I am giving up coca-cola too...no more addictions lol.
Re: Re: hmmm I suppose this could be used as indicative of consumerâ??s rate and benefit shopping the CC Company has a vested interest of keeping your account open. The consumer is always at the mercy of shameless rate jackers, reduction in CL etc... If they stay with the long term credit card. I see this as a larger problem of non relationship management of their customers. Unfortunately we get dinged for shopping or getting out from under bad terms. I love my Generations card not because it has the best rate or benefits but because it does not report and am then able to use all of my credit line without fear of reprisal. .
Re: Re: Re: hmmm I don't know anything about them. I am really surprised they do not report. Are they their own bank? What are your terms?
Re: Re: Re: hmmm http://www.generationsbank.com If you do a search there is some info on them here on creditnet. Terms 9.9 APR
Re: Re: Re: hmmm Interesting. I noted that they have a biz loc. Do you remember who they pulled? Where are you?
Re: Re: Re: hmmm In my opinion, the main reason you need a good Fico is to get good mortgage rates and auto loan rates. I pay cash for my cars, but most people don't. Once those are out of the way I'll take as many CC as they'll throw at me because access to capital is what I'm after. If you have lets say 100k CL available and can't get a good auto loan you can buy it with CCs. I've even heard of people buying real estate with credit cards and then doing a refi afterwards.
