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Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: What should I do next!?

Look in the rebuilding section for more information on good will letters. Get that baddie off your report before you app for anything.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Established Member
paparoach429
Posts: 19
Registered: ‎12-13-2012

Re: What should I do next!?

Is it that easy to get a negative removed from your history? Whats the worst the could happen? I have to wait for another 6 months for it to automatically fall off? So in your guys opinions I will be denied for pretty much anything applied for? If a walmart card is my only hopes right now I might as well just wait a while.

Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: What should I do next!?

It is not that you will get denied now. You will just get much better terms if you get that baddie off first. IE higher limit lower APR. It shouldn't be too hard for you to GW that baddie.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Member
guardsman54672
Posts: 20
Registered: ‎12-19-2012

Re: What should I do next!?

Contact the creditor requesting verification of the late payment.  Do not admit anything and let them provide the facts they have.  Then, contact the Credit Bureau and file a dispute.  The dispute will be attached to every credit report request thereafter regarding that issue.  Financial Institutions often post late payments, even though they are not late, in order to add interest, fines, and penalties.  Next, attempt to consolidate the existing cards into one account.  Having to many credit cards active in your Credit Report is just as bad as as having no credit history.  To Creditors, it apears you are robbing Peter to pay Paul, so to speak.  Finally, before you sign another application for a credit card, find out who is actually issuing the card.    If you look at the reverse of your credit cards, you may find some issued by the same financial group such as HSBC, CITI, CHASE, ect.   The application you are getting ready to sign will probably have this information near the end of the contract.  Read it close.

Established Member
paparoach429
Posts: 19
Registered: ‎12-13-2012

Re: What should I do next!?

Ahhhh. I understand more now. I'll get on that tomarro. Btw, What does finding out who issues the card matters? Are you trying to say dont apply for a card issued by the same bank that issues the firestone card?

Member
guardsman54672
Posts: 20
Registered: ‎12-19-2012

Re: What should I do next!?

Walmart credit cards are actually issued by and granted by Discover Financial Group, LLC. (GE Money Bank)  Check your current credit cards to see if you may have others

Member
guardsman54672
Posts: 20
Registered: ‎12-19-2012

Re: What should I do next!?

Certain financial groups, such as HSBC AND CITI FINANCIAL are owned and operated from other countries who are not required to abide by the Unted States Code

Established Member
paparoach429
Posts: 19
Registered: ‎12-13-2012

Re: What should I do next!?

Oh ok. The cards I dont use are locked up in my safe so il check tomarro. So your point is to apply for cards issued by them as that might be my only option?

Member
guardsman54672
Posts: 20
Registered: ‎12-19-2012

Re: What should I do next!?

On the back of the Firestone Card, see who issued the card as FIRESTONE is what is known as the merchants card and is not actually the issuer of the card.  The issuer of the card is the actual creditor

Member
guardsman54672
Posts: 20
Registered: ‎12-19-2012

Re: What should I do next!?

No.  My point is to attempt to use a financial group (such as Chase) who is actually governed by the Federal Statutes.  You have to be familiar with the financial instituition you are dealing with.  HSBC is homed in Shanghai, China and Capitol is homed in india. 


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