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.