Credit

[Beebs]

Fair and Accurate Credit Transactions Act - Wikipedia, the free encyclopedia

Basically the FACT act fucked certain states that let people check their credit on demand down to only once a year.

[Beebs]

Originally Posted by Ironic Mustache

If you don't want to pay interest, save up and buy with cash. But then that has nothing to do with credit, and therefore won't and shouldn't raise your credit score.

Very important point, and one that is not as well known as it should be.

[DDTempest]

Originally Posted by angry pancake

These are the only time a credit card seems to make good sense. Need an incentive to use those bitches.

Over the past six years I've banked $3500 in cash back rewards from a credit card through my bank and paid $0 in interest ... unfortunately they recently downgraded all the reward % after the new mandates in the credit reform bill.

[PumpkinBitch]

Anybody else use a charge card instead of a credit card?

[angry pancake]

Originally Posted by DDTempest

Over the past six years I've banked $3500 in cash back rewards from a credit card through my bank and paid $0 in interest ... unfortunately they recently downgraded all the reward % after the new mandates in the credit reform bill.

Sounds like a decent enough incentive.

[Cocktooth]

Here is cocktooth's Credit situation, and maybe one of you can gain knowledge.

18 years old with a credit card. Paid it to zero balance for a year. Maxiumum balance was pushed up to 5,000 from 300 in 2 years. Ended up with 3 cards in that span. Paid them perfect, along with student loan payments til I was 24 1/2. Bought a car with a 790 score on said credit cards and student loans.

Lost my job and stopped paying everything. At that time, I had 2 outstanding credit cards, along with my truck loan. Truck gets repo'd. After 2 years of faulting on everything, started paying a year and a half ago on them again. I now have nothing on my bureau besides my current truck payment. My score was a 542 when I bought the truck, and now is a 612. That is my trans of course. I've played the ups and downs of credit, and it isn't a fun game.

Also, some of you might be able to help me. I have a debt collection company calling me. Their name escapes me at this time. They are telling me they are collecting 648 dollars in debt. At first, I was just going to pay it off and be done with it. Then I thought about it and ran my bureau. I had no debt besides my truck. I researched this company and there were a ton of reviews about this being a spam company. They told me that their debt can be found on my experian report, which we can pull but don't. I pull it, and it's still clean, yet these people are still running my credit. How can I stop this, and does this fall under identity theft, when I know I have no more debt?

[Ugly Bastard]

Speaking of debts, is my $20 check in the mail yet Cocktooth?

[Ironic Mustache]

Originally Posted by Beebs

Not as much as you would think, since you aren't showing what they want to see: consistent timely payments over an extended time.

If theres no mortgage it doesn't do anything at all.

[Cocktooth]

Originally Posted by Ugly Bastard

Speaking of debts, is my $20 check in the mail yet Cocktooth?

Should be there today or tomorrow. Sent it out Saturday evening when I got home.

[Ugly Bastard]

You're the greatest ever.

[Cocktooth]

Well, I tell myself that, but to hear it from you means more!