Lock, my questions were answered

[clevereddie]

Yea I'm just going to pay it off to be on the safe side. Thanks man, you're the best person on NT

 

[dusted718]

Originally Posted by Clevereddie

Originally Posted by Mojodmonky1

Originally Posted by Clevereddie

at what point can I expect my credit to drop? my score is 740 right now ... by how much would it drop? over 300$

say goodbye to that 700 credit score, not that it meant much now anyways.  It will drop once the collections company reports it to the bureaus.

since youre young, you probably have very few tradelines, and the ones you have, have not been opened for that long.  That 740 score is borderline worthless to be honest.  Just from my own personal experience (I'm an underwriter/credit manager for a finance company) I would much rather prefer to give money to a customer that had a 620 score with deep credit history, than an 18 yr old kid with 2 $500 credit cards and a 740 score.

If you have minimal tradelines and an unpaid collection (even for $300) expect that 740 to turn into a 540 with the quickness.  Honestly man, dont mess with that kinda stuff.  I know you're young and it seems inconsequential, but you're gonna be kickin yourself later.  My wife had an old collection on her credit from before we met.  It was a $400 collection account that they listed as unpaid (even though she disputed it countless times).  It took FOREVER to get her credit score back up from that 1 stupid collection.  Even then, her credit is not perfect.  That stupid collection account caused us to pay an extra 1/8th of a point when we got our mortgage since her score was just a shade under 720.  1/8th of a point is real money when you are talking about a $400K loan, all over a stupid collection account.  

thats kind of why i want to ignore this debt, since all my tradelines are over the average 2 year minimum. My AA platinum is 150k and my chase and wells fargo are both high too, and then i have a camera store credit card thats like 3,500 lol. so i was hoping this would be so small that it wouldn't even affect my credit. but I guess i should pay it off right? *sigh* stupid gym 

My dude you are all over the place, you have a $150K CC and you are unwilling to pay $300 SMH? I personally think you are full of &^%*, I own a home, car and have had 
open trade lines longer then you have been smashing trim and my highest open line of credit is $20K. Evaluate your topics and post thread worthy subjects! 

 

[dusted718]

Originally Posted by Clevereddie

Originally Posted by Mojodmonky1

Originally Posted by Clevereddie

at what point can I expect my credit to drop? my score is 740 right now ... by how much would it drop? over 300$

say goodbye to that 700 credit score, not that it meant much now anyways.  It will drop once the collections company reports it to the bureaus.

since youre young, you probably have very few tradelines, and the ones you have, have not been opened for that long.  That 740 score is borderline worthless to be honest.  Just from my own personal experience (I'm an underwriter/credit manager for a finance company) I would much rather prefer to give money to a customer that had a 620 score with deep credit history, than an 18 yr old kid with 2 $500 credit cards and a 740 score.

If you have minimal tradelines and an unpaid collection (even for $300) expect that 740 to turn into a 540 with the quickness.  Honestly man, dont mess with that kinda stuff.  I know you're young and it seems inconsequential, but you're gonna be kickin yourself later.  My wife had an old collection on her credit from before we met.  It was a $400 collection account that they listed as unpaid (even though she disputed it countless times).  It took FOREVER to get her credit score back up from that 1 stupid collection.  Even then, her credit is not perfect.  That stupid collection account caused us to pay an extra 1/8th of a point when we got our mortgage since her score was just a shade under 720.  1/8th of a point is real money when you are talking about a $400K loan, all over a stupid collection account.  

thats kind of why i want to ignore this debt, since all my tradelines are over the average 2 year minimum. My AA platinum is 150k and my chase and wells fargo are both high too, and then i have a camera store credit card thats like 3,500 lol. so i was hoping this would be so small that it wouldn't even affect my credit. but I guess i should pay it off right? *sigh* stupid gym 

My dude you are all over the place, you have a $150K CC and you are unwilling to pay $300 SMH? I personally think you are full of &^%*, I own a home, car and have had 
open trade lines longer then you have been smashing trim and my highest open line of credit is $20K. Evaluate your topics and post thread worthy subjects! 

 

[clevereddie]

I just didn't want to pay because I didn't go, why pay for something you didn't receive? kinda like when you drop out of a class in college and they still want you to pay even though you never went. just doesn't sound right to me.


as for how I have such a high credit line, I've gone through my money situation on NT dozens of times, to the point where i don't want to even try to explain anymore, so I wont answer any questions relating to that.

 

[clevereddie]

I just didn't want to pay because I didn't go, why pay for something you didn't receive? kinda like when you drop out of a class in college and they still want you to pay even though you never went. just doesn't sound right to me.


as for how I have such a high credit line, I've gone through my money situation on NT dozens of times, to the point where i don't want to even try to explain anymore, so I wont answer any questions relating to that.

 

[mojodmonky1]

Originally Posted by Dusted718


My dude you are all over the place, you have a $150K CC and you are unwilling to pay $300 SMH? I personally think you are full of &^%*, I own a home, car and have had 
open trade lines longer then you have been smashing trim and my highest open line of credit is $20K. Evaluate your topics and post thread worthy subjects! 

hahahaha maybe dude is older now?

back when I got my 1st credit car (late 90's) banks actually were handing out credit like it was going out of style.  I remember getting a MBNA Mastercard and by my 3rd year in college it was up to $25K.  I had to call em up and ask them to reduce it, just cause I didnt trust myself with that much credit.  I mean damn... I was a starving college student and they are giving me $25K to go wild with?  Credit card companies just didnt care.
  

 

[mojodmonky1]

Originally Posted by Dusted718


My dude you are all over the place, you have a $150K CC and you are unwilling to pay $300 SMH? I personally think you are full of &^%*, I own a home, car and have had 
open trade lines longer then you have been smashing trim and my highest open line of credit is $20K. Evaluate your topics and post thread worthy subjects! 

hahahaha maybe dude is older now?

back when I got my 1st credit car (late 90's) banks actually were handing out credit like it was going out of style.  I remember getting a MBNA Mastercard and by my 3rd year in college it was up to $25K.  I had to call em up and ask them to reduce it, just cause I didnt trust myself with that much credit.  I mean damn... I was a starving college student and they are giving me $25K to go wild with?  Credit card companies just didnt care.
  

 

[dusted718]

Originally Posted by Clevereddie

I just didn't want to pay because I didn't go, why pay for something you didn't receive? kinda like when you drop out of a class in college and they still want you to pay even though you never went. just doesn't sound right to me.


as for how I have such a high credit line, I've gone through my money situation on NT dozens of times, to the point where i don't want to even try to explain anymore, so I wont answer any questions relating to that.

I don't care what kind of explanation you have! DUCKTALES! 

 

[dusted718]

Originally Posted by Clevereddie

I just didn't want to pay because I didn't go, why pay for something you didn't receive? kinda like when you drop out of a class in college and they still want you to pay even though you never went. just doesn't sound right to me.


as for how I have such a high credit line, I've gone through my money situation on NT dozens of times, to the point where i don't want to even try to explain anymore, so I wont answer any questions relating to that.

I don't care what kind of explanation you have! DUCKTALES! 

 

[clevereddie]

i don't care if you don't believe me, thats why i'm not even going to bother.


Mojodmonky1- Thank you, if you'd like PM me your info, I'm a serious investor. but at 19 there's still a million things I don't know so having someone knowledgeable in every area is always good for me to have.
Next time that I have a more complex issue or question I'll hit you up and ofcourse compensate you for your help.

 

[clevereddie]

i don't care if you don't believe me, thats why i'm not even going to bother.


Mojodmonky1- Thank you, if you'd like PM me your info, I'm a serious investor. but at 19 there's still a million things I don't know so having someone knowledgeable in every area is always good for me to have.
Next time that I have a more complex issue or question I'll hit you up and ofcourse compensate you for your help.