Wednesday, May 26, 2010

Credit Score to Rate Companies?

We are at the mercy of Credit Agencies! How about creating a company that Rates Them and others, performance and customer service. The BBB and others do not help.

Credit Score to Rate Companies?

I beleive that on good spot on the web for consumer complaints and ratings would be excellent. Right now there are a few, but they do not rank high in the search engines and people don%26#039;t go looking for them. Here are a few that help:

Credit Score to Rate Companies?

Credit score hurt because bed debt filed with Chex systems, interesting question.?

Hi. I had a bad period with Bank of America, I owe them roughly 2k over 3 accounts. I have the money, went to the bank and they said they%26#039;d accept payment, but would not open a new account.

They have sold all 3 debts off, and I get calls from the agency they have sold the debt to. They want like 1,200 for all 2 thousand worth of debt! Do I get a benefit from paying BankAmerica directly? I pay less with the credit agency.

I know once you pay the bank, they are supposed to send something to Chex systems saying I%26#039;ve paid in full. My question is wont the debt agency send that same report? And if they do dosn%26#039;t it just make ALOT more sense to settle with the debt agency at a discount then pay BankofAmerica (who were VERY RUDE). The lady called me a deadbeat. I accept that I made mistakes, and I want to correct them.

Strategically does it make sense to give the Bank the money, despite the fact they%26#039;ve already sold the debt?? Effectively there making money of my mistakes!

Credit score hurt because bed debt filed with Chex systems, interesting question.?

Pay the collection agency only in exchange for a paid in full letter...this you take to BOA and demand they list you as paid in full with chex systems...The debt will be listed with chexsystems for 5 years regardless of whether you pay the debt off or not...

Here is a list of banks that provide second chance checking accounts...scroll to the bottom of the screen and click on your gives you a free list of banks in your state that proviede second chance checking accounts...


Credit score hurt because bed debt filed with Chex systems, interesting question.?

You don%26#039;t OWE the bank anymore. You now owe the collection agency. No simple way to explain it. You really don%26#039;t have a choice of WHO you want to give the money to. You can haggle and pay way less then that if you so desire. It will show up on your credit report that you settled for a lower amount. But, then again, it still shows the bad debt (that you didn%26#039;t pay in the first place) on your credit report anyway. Either way it gets much better for you after you pay the debt off. But it does NOT make much of a difference how MUCH you pay for it. So, better to pay as little as possible, right? My friend held out saying %26#039;no deal%26#039; until they accepted $1000 on a $6000 debt! I%26#039;d offer $800 if I were you. Oh, and good job trying to go back and fix what you did wrong :) I%26#039;d go to a different bank if I were you. Everyone I%26#039;ve ever known with BofA has had money stolen from their account by the bank!

Credit score hurt because bed debt filed with Chex systems, interesting question.?

Once your debt has been sold to a collection agency, it no longer belongs to Bank of America. You need to deal directly with the collection agency to work out a repayment plan.

Best of Luck

Credit score hurt because bed debt filed with Chex systems, interesting question.?

The other answers are right about who owns the debt. Bank of America will probably never do business with you again. I would try a local bank to get a checking account and a savings account at the same time. They might be more understanding.

Credit score hurt because bed debt filed with Chex systems, interesting question.?

You should definately pay the collection agenct, only if they will supply you with a paid in full letter. The specific status of the account on your credit should be negotiated to %26quot;Pays as Agreed%26quot; this will allow you to start to bounce back from having a collection account on your credit to begin with. To get another bank account, you will need to get with Chexsystems on that.

In order to do that, you can get unlimited information for free on my website. If you have a question, just ask and I would be glad to help.

There is no charge for this service, as I know how simple it is, and with little effort, you can resolve the entire thing, dispute the negative information no your credit report as well. Free letters are also on my website. The link to chexsystems information is , the link to the letter is on that page. Just save it, and change the letter to how you need it to read. This is the same letter I used to remove over 3 negative Chexsystems listings.

Credit score hurt because bed debt filed with Chex systems, interesting question.?


I used %26quot;Credit Solution%26quot; to settle my debt.They managed to reduce my debt 58%.It%26#039;s legitimate.I came accross this company on NBC News Special Edition.Check it out here:

Credit score hurt because bed debt filed with Chex systems, interesting question.?

Regardless of who you make the payment to the bank will not be obligated to open an account with you. Just be sure to get a letter of the agreement to remove your name form the Chex system. In the event your name is not removed you can send proof to Chex system which they must check out.

Be sure to pay by money order, moneygram, western union etc. That way the payment can be traced

Credit score ranges from 672 thru 685.....?

Is this considered a good or fair credit rating? Experian calls it fair, but my husband says it%26#039;s actually good.

Credit score ranges from 672 thru 685.....?

This depends upon the industry. Banks, lenders usually consider 700 and above %26quot;good%26quot; credit. Above 720 you will get the best possible rates and fees for any type of loan or insurance. Insurance companies and employers may have a different opinion.

You may find helpful information at This is what they do.

Credit score ranges from 672 thru 685.....?

yes it is good, most people are 620 and up

Credit score ranges from 672 thru 685.....?

Yes, that%26#039;s pretty good. My ish is well below

Credit score ranges from 672 thru 685.....?

Techincally the reports consider anything from about 620-680 as fair.. but as far as lenders go if your score is around 680 you can qualify for most types of loans. You are considered a good risk by almost all lenders....

So all in all.. good job.

Credit score ranges from 672 thru 685.....?

It%26#039;s good, but not great. With this score, you wouldn%26#039;t get the best loan rates through my bank, but you would get pretty darn good ones though.

Credit score ranges from 672 thru 685.....?

I spoke with a mortgage lender at my bank recently. He said that anything over 680 is good.

So you are both right!

Credit score ranges from 672 thru 685.....?

780+ Perfect

720-780 Excellent

675-720 Average

620-690 Fair

Below 620 Poor

Credit score ranges from 672 thru 685.....?

The national average is 678 so you are average. Most lenders consider anything below 700 as good but not great.

Is your credit score updated daily?

for example i want to borrow 5K on my credit card without

my mortgage company knowing is there a time frame when i could do this say one week before i complete my house buy or are they updated daily sp they could tell??? for example my barclays credit card doesn%26#039;t show up on my experian statement...

Is your credit score updated daily?

If you already have a mortgage offerthe lender will not do another credit score before completion%26lt; so you will be safe in that respect%26lt; however you are legally obliged to tell the lender of any changes in your circumstances%26lt; you were also asked on the application where the deposit was coming from%26gt;

if you dont have a mortgage offer why not get a cash back mortgage from the likes of abbey%26gt; it is a very competitive product%26gt;

Is your credit score updated daily?

no it is not it could be some time before it is updated but be carefyl you dont bite off more than you can chew it is easier to borrow than to pay back

Is your credit score updated daily?

No it isn%26#039;t and at any rate money borrowed on your credit card will never be recorded on your credit score unless you miss the minimum repayments.

You will legally however have to declair any other loans or liabilities when you agree your mortgage.

Not really sure what the result will be if you don%26#039;t and it all goes wrong - but as long as you keep up repayments that will never be an issue.

Make sure you can afford to pay the credit card though - you will be looking at minumum repayments of arounf 鎷?50-200 per months (that will pay off about 鎷?0 after interest)

Is your credit score updated daily?

Yes, credit scores can change daily. I belong to truecredit and if I%26#039;ve seen mine fluctuate in a 2 day time frame. However I don%26#039;t hink you taking money off your card will report that fast, unless you%26#039;re doing it towards the end of the month.

What most card companies to do is this...If you statement close date is the 17th, whatever your balance is on the 16th is the amount they report to the bureaus for that month. So if you%26#039;ve already paid your bill for that month, I%26#039;d say go ahead because that won%26#039;t be reported til the following month.

Is your credit score updated daily?

Typically the credit inquiry from your new credit card would show instantly. So, if your file is run through a quality control check prior to closing, they could see that you inquired about a new card. You would then have to explain it, and if you actually borrowed against the new card, would have to count it against your obligations.

Keep in mind, at least in the U.S., when you close on your home you will sign an affidavit swearing that there%26#039;s been no new debt since application. Lying on this is blatant fraud, and is a jailable offense.

Tell your loan officer. Even a $5K credit card could only have payments of $150-200/mo. If you can%26#039;t add that much to your qualifying without screwing up your home purchase, you shouldn%26#039;t be borrowing the money anyway.

Does requesting a credit report from an agency lowers our credit score?

why isnt it safe to order credit reports like more than 3 times a yr

Does requesting a credit report from an agency lowers our credit score?

Only inquiries generated by you applying for credit impact your credit score. When you pull you own credit report, it%26#039;s a soft pull and has no affect on your score.

There is nothing wrong with pulling your credit report several times a year. Of course, you have to pay for it. It%26#039;s better to spread out your free reports from each credit bureau -- one credit bureau every 4 months.

Does requesting a credit report from an agency lowers our credit score?

It shows that you requested it, so it may show you know you have bad credit and want to know what.

Does requesting a credit report from an agency lowers our credit score?

It may not lower your score, but many times when you inquire for credit score, people who were pulling your records show.

Does requesting a credit report from an agency lowers our credit score?

You are allowed one FREE credit report per year unless you have been denied credit - however, every inquiry on your credit report (applying for credit cards, car loans, mortgages) counts against you for each category - for example - if you are looking for a mortgage or car loan (a big expenditure), 4 or 5 inquiries in one month would count as 1 inquiry as they understand that you are %26quot;shopping%26quot; - credit cards are not your friend - avoid them at all costs!!!

Does requesting a credit report from an agency lowers our credit score?

Pulling your own credit report DOES NOT lower your score.

Does requesting a credit report from an agency lowers our credit score?

If you mean the 3 major agencies, Equifax, Experian, and Trans union, you are entitled to 1 free credit report a year. Go to and you can download and print a form to mail off for any of the 3 or all 3 if you want.

Does requesting a credit report from an agency lowers our credit score?

based upon your situation,I think you should find something useful here.

I have a credit score of 550 and alot of the things on my credit report I have no knowledge of what

I have disputed alot of the but still have not heard anything. some of the accounts on my credit report have a different sodial security number and were from before I was 18. am i liable for things on my credit from before i was of age and of which i have no knowledge of. How do i fix this?

I have a credit score of 550 and alot of the things on my credit report I have no knowledge of what should Ido

Big or small, note any errors and ask the respective credit agency to investigate your claim. You may be able to dispute the erroneous information online via a link from the page displaying your credit report (you can go to each of the 3 reporting agencies separately; see below) but the Federal Trade Commission recommends you put your dispute in writing and send it certified mail.

State why you believe the information is inaccurate and request that it be removed. Include a copy of your credit report with the questionable information circled and copies of any supporting documents you were able to obtain.

The credit bureau will investigate your claim and if the information is indeed found to be false, you can ask the credit bureau to send a notice of the correction to anyone who received your report in the last six months.

The FTC even provides a form letter for disputing information on your credit report and the addresses of the three credit agencies online at its Web site,

If an investigation does not resolve your dispute, you can ask to have a short explanation, written by you, included on all future copies of the report.

Under current rules, what can you do if you just can%26#039;t get your credit file corrected by taking the proper steps of writing to major credit bureaus?

An FTC staff attorney suggests:

閳ヮ敾nder the Fair Credit Reporting Act, you can write a statement of up to 100 words stating reasons for disputing the accuracy or completeness of a credit-report item. Submit it to the credit bureau. Your statement must be added to your credit report at no charge.

閳ヮ斀hen applying for a loan, you may request in writing that the lender consider information indicating that the credit history being considered is inaccurate. %26quot;Regulation B,%26quot; which implements the Equal Credit Opportunity Act, requires a creditor to consider that information.

閳ヮ斂ou can sue the credit-reporting agency under the Fair Credit Reporting Act for %26quot;negligent%26quot; or %26quot;willful%26quot; noncompliance. Besides damages, a successful suit can also net you court costs and attorney fees.

閳ヮ斂ou can resubmit a dispute to the consumer reporting agency, but only if you have additional documentation.

The FTC staff suggests your easiest and most effective route may be to contact the party responsible for sending the wrong information about you to the credit bureau. Be sure to provide documentation of the error. Obtain a letter of correction from the furnisher. Then write the credit bureau, submitting a copy of the furnisher%26#039;s correction letter.

You quite frequently are told to go to and you get one free credit report per year. I have found that if you go to each credit reporting agency separately you can get a free report at diferrent times of the year and since the agencies in general have much the same information, you can monitor changes that have taken place for the last 3 or 4 months; in that way monitoring the effevtiveness of your actions.

I have a credit score of 550 and alot of the things on my credit report I have no knowledge of what should Ido

550 is bad but it can get a lot worse. if you have a cop of your credit report, address the things that are current, first off. whatever happened in the past that you think is resolved or disputed fix them. Credit Plus offers assistance fixinf these problems within 7-10 days. Credit bureaus don%26#039;t care about what you dispute and don%26#039;t really put a rush on things to fix it. So companies like Credit Plus, bug the hell out of the bureaus to fix things until they%26#039;re fixed. I don%26#039;t see how you can have stuff on your credit report before you were 18 and that might be something you want to focus on. if the different SSN%26#039;s are similar to yours then it just may have been a typo on whoever checked or gave you credit to begin with. My advice, since you have so much stuff on there is hook up with a credit repair service and have them do all the leg work for you. they%26#039;ll let you know what documents and such you%26#039;ll need and help you get them as well. it%26#039;s a big stress reliever to have someone else do it but just make sure you get someone legit to do it.

I have a credit score of 550 and alot of the things on my credit report I have no knowledge of what should Ido

First you need to contact ALL THREE credit bureaus: Experian, TransUnion, and Equifax, and put a notification on your credit bureau that you are a victim of fraud. They should also be able to help you get phone numbers and addresses of the companies reporting the questionable items.

Then, you need to contact EACH company that is reporting incorrectly and DOCUMENT EVERYTHING. Send them letters, call them, do what you need to in order to have the questionable items removed. Keep a file of everything that you are doing. If you make phone calls, write down names, dates, and times of who you talked to and what about. Keep a record of what they told you. Then followup, followup, followup. Keep after them. The bigger a pain you are in their backside, the more likely they are to help you... but always stay polite but firm.

Documentation is your friend. I can%26#039;t stress that enough. The sooner you clear everything up, the less likely you will be bitten by this later.

I have a credit score of 550 and alot of the things on my credit report I have no knowledge of what should Ido

dispute everything...I mean everything on 30 days, do it the disputes online with the individual credit reporting agencies....

then contact the creditors who are reporting the fraudulent or questionable accounts and balances and find out what their supporting documentation is...they should have something to clear up things for you.

I have a credit score of 550 and alot of the things on my credit report I have no knowledge of what should Ido

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I have a credit score of 550 and alot of the things on my credit report I have no knowledge of what should Ido

You have received several really good answers here. The ONE thing I would IMMEDIATELY do is contact the three major credit reporting agencies and ask to have a %26quot;freeze%26quot; put on your credit lines. This will require any credit granting organization to contact and confirm with you directly that you are requesting a NEW credit line before it can be granted. That will generally stop anyone else from getting new credit in your name.

You will have to get your credit unfrozen before you can get any new credit.

After doing that, I would begin to follow the good advice about getting fraudulent credit removed from my credit file.

Be patient, diligent, persistent, but most of all polite. It will get things turned around. Eventually.

Best to you.

I have a credit score of 550 and alot of the things on my credit report I have no knowledge of what should Ido

You have to contact the agency that has the report such as equifax but good luck it is very hard to get removed even if it is not You.! You might need a lawyer

How to increase credit score?

I paid off my credit card debt of 1500 i accrued during college. BTW, just graduated a month ago. It was the first thing i did. However, I was also told that i should continue to use my credit card. Can I just pay it off online every week to make sure that i have it paid off. Can%26#039;t i just transfer online from my account to my credit card account?

I%26#039;m also a bit confused, because i paid cash for my car. SO... i%26#039;m technically being punished for not putting up with creditors leeching money off of me per month?

Sorry I%26#039;m naive and dumb regarding my personal finances.

How to increase credit score?

From what you have provided:

-Paying off any loan that you have accrued is a plus.

-Paying everything off every week will only show creditors you%26#039;re not using the credit card. It%26#039;s best if you paid at the end of the month, or whenever the credit card company reports your information.

-With purchasing a car: if you wanted to build credit and had enough to pay off the car, then i suggest financing everything as much as possible and pay it off after 6 months. The bigger the loan, the more likely they will think you%26#039;re credit worthy when you really need to negotiate.

Other than that, there%26#039;s a lot of information online and they%26#039;re easy to understand. Keep in mind that there will be a change from FICO to VantageScore. Nothing too different other than the change in the looppole of the authorized user and the grading system; FICO is like the SAT and VantageScore is like high school grading [A-F]

How to increase credit score?

There are a few things you could do to increase or boost your credit score or credit rating. Consider the following,

a). make your payments on time,

b). use under 30% of your available credit at all times. That is, for a credit card with credit limit of $1,500 try not to use more than $450. In other words, always have an available credit of at least $1,050 on a credit card of $1,500 credit line.

Do these for each of your credit cards.

c). the higher your credit limit the better it is for your credit score. Having a credit card with a limit of $10,000 as long as you don%26#039;t chard more than 30% at any given time is better than having a credit card of $2,000.

d). you also want to keep your credit cards and credit accounts in good standing, the longer you have an account the better it is for your credit score.

You can find more free information at

Hope this helps!