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Your credit report is your credit history. The only way something can be legally removed from a report is if it's inaccurate. In 7 years, it'll drop off.
24 Looking to build Credit... What are some good tips on your first Credit Card
- Thread in 'General' Thread starter Started by trynafeelmink,
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omariwestafari
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Question if anyone can answer
Its a situation that someone close to me needs help with ill use fake names.
Joe orders a dumpster bin.
Dumpster company drops off the bin.
Joe never puts any garbage in the bin.
Dumpster bin company decides joe has had it too long and takes the bin back empty.
Dumpster company has joes daughter credit card information on file from a recent transaction and without authorization from joes daughters they charge the credit card
Joes daughter then call the credit card company and puts a stop on the charge and gets her credit back.
The dumpster rental company then reports to collections and joe gets a call from a collections agency
What can joe do to get rid of this?
It will most likely affect credit in a negative way
Its a situation that someone close to me needs help with ill use fake names.
Joe orders a dumpster bin.
Dumpster company drops off the bin.
Joe never puts any garbage in the bin.
Dumpster bin company decides joe has had it too long and takes the bin back empty.
Dumpster company has joes daughter credit card information on file from a recent transaction and without authorization from joes daughters they charge the credit card
Joes daughter then call the credit card company and puts a stop on the charge and gets her credit back.
The dumpster rental company then reports to collections and joe gets a call from a collections agency
What can joe do to get rid of this?
It will most likely affect credit in a negative way
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Does anyone have a VISA SIGNATURE card and do they report your credit limit to the credit bureau for it to show on your report? Only reason I'm asking is because I heard these visa signature card sometimes get posted as a flexible spending account and sometimes they don't report your credit limit, yet they'll report your balance or your Hight balance and use that as your credit limit. This would make your utilization look higher if your credit limit weren't counted in but your balance is.
For what's it worth I did hear all visa siggys do report now and it was just a card issuer or two in the past that didn't report limits but now majority and all do but was just curious to see if anyone can shine more light into this topic.
For what's it worth I did hear all visa siggys do report now and it was just a card issuer or two in the past that didn't report limits but now majority and all do but was just curious to see if anyone can shine more light into this topic.
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Joe should look at the original contract to see what the specified time period of the rental was. If there was no specified time, he might be able to take the company to small claims and file a complaint to the 3 credit bureaus of improper reporting.
If they did take the dumpster when they were supposed to, that's on Joe.
But more importantly, why did Joe give them her credit card?
omariwestafari
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Joe didnt give them the credit card.
The credit card was used on a previous transaction at the same address and they had saved the credit card info and used it again on without authorization, when joes daughter saw the unauthorized charge she called her cc company and they stopped it. Then the dumpster company took the charge to collections
The credit card was used on a previous transaction at the same address and they had saved the credit card info and used it again on without authorization, when joes daughter saw the unauthorized charge she called her cc company and they stopped it. Then the dumpster company took the charge to collections
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Ritchie X Rich
I have one they are reported as whatever the limit is. Never heard of flexible spending? It's either reported because it has a credit limit, or it's not because its a charge card (AMEX). Amex still reports but at $0.
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So they gave him the dumpster without getting any payment information up front? That sounds pretty dumb to me unless they were supposed to invoice it in the end.
If she had no affiliation with the transaction, then file the report with the credit bureaus and the record should be removed from her record since it was an inaccurate charge in the first place.
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Correct. Unless it was a Chapter 7 bankruptcy, then it's 10 years.
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closed my Cap 1 secured card yesterday. Today applied for the cap 1 quicksilver one card. Instantly approved for 3k. Feels good...score at 650, hope to b in 700s by end of the year...
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Score currently at 764... welcome to DM me for financial tips. thanks
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My score went up 2 points to 783 today. My utilization dropped down 4% when my CLI went into effect.
omariwestafari
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Crcballer i appreciate ur input man.
rcdot
formerly rennzyboo
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if you had the liquid assets to remove a debt immediately is it better to pay in one lump sum, or sit on top of money and pay monthly. currently in this dilemma and been hearing different opinions:
1. keep money, pay montly = always good to have cash
2. pay all my debt, have little to no money = no more debt
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Keep $1000 minimum as a buffer against emergencies, then use whatever else you have to pay off your debts.
Cash is king, but if you're keeping it around just as a "buffer", you're moving backwards. Even if you have a 0% APR on your card, if you have anything left once that expires or you just slip, they'll nail you.
Top Boy
formerly jay patt
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About to start coming in to a lot of good money..
Anyone know of any credible places I can open a high interest savings account?
Anyone know of any credible places I can open a high interest savings account?
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US banks interest rates are ****. I have money invested in foreign countries they give way better rates. Granted they are not as stable but I don't see the government collapsing anytime soon. I'm not advising you do the same but it's option you can look into.
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Top Boy
formerly jay patt
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Anything would be better than the savings account I have with my local bank
.01% interest. They give absolutely no damns.
rcdot
formerly rennzyboo
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i'm hearing germany is good place to start taking things considering their economy is booming.
. care sharing info?
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promotion i found on slick deals. spend 500 within the first 90 days and get 100 back
https://www.usbank.com/splash/credi....html?PID=1225267&referral=commissionjunction
https://www.usbank.com/splash/credi....html?PID=1225267&referral=commissionjunction
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Not high interest rates. You won't find that anywhere. Some institutions may have marginally higher interest than another, but that's no longer the selling point of savings accounts today. I suggest a savings account, but not for growth of your money, rather, a safety net. Savings accounts are great for emergency funds and to keep money liquid for anything on the near horizon. I also like them because if you have a huge chunk of cash and it's sitting in your checking account, then it has more exposure to things such as fraud. Keeping that large chunk in a savings keeps it sheltered in case you lost your checks or your debit card is compromised. You're FDIC protected, but it still won't feel good to see a big chunk of money disappear for a bit.
In terms of growth of your money, you should probably look into IRA's and mutual funds. That's the only potential way you can grow your money from a conventional standpoint.
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Are you factoring in the currency movement into the interest rate spread? The Euro has completely collapsed over the past year compared to the US dollar.Anything would be better than the savings account I have with my local bank
.01% interest. They give absolutely no damns.
@xilegacy What about a P2P lending site like LendingClub.com or Prosper? I've had a pretty good experience with them so far and the rates are not too bad.
antidope
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I have a question.
I got my March statement on March 20th for my credit card and it had a 410$ balance. I spent more money in PCB and so far have paid 300$ towards lowering the balance. If I paid another 110$ before the 20th am I still gonna be charged interest since I carried over a balance or no because I paid the $410 that was showing on the March statement.
This is the first time in all my years of having the card where I'm not going to be paying it off in full at the end of the month. I could pay it all off, but I'm opting to put more toward towards my school loans instead.
I also know I'm not really supposed to pay the thing off and have a zero balance every month, about how much of a balance should I carry between months? Is 5$ enough?
I got my March statement on March 20th for my credit card and it had a 410$ balance. I spent more money in PCB and so far have paid 300$ towards lowering the balance. If I paid another 110$ before the 20th am I still gonna be charged interest since I carried over a balance or no because I paid the $410 that was showing on the March statement.
This is the first time in all my years of having the card where I'm not going to be paying it off in full at the end of the month. I could pay it all off, but I'm opting to put more toward towards my school loans instead.
I also know I'm not really supposed to pay the thing off and have a zero balance every month, about how much of a balance should I carry between months? Is 5$ enough?
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The statement cycle ends with the date that it shows on your March statement. Anything after that is included for the next cycle and you'll have to pay interest on any new charges since the end of that last statement you received. So, yes. You'll pay interest. The only way you pay it in full going off the statement is if you haven't used your card since that statement cycle ended.
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