topic Re: Disappointed in Myfico Credit Card Forum in Credit Cards

Disappointed in Myfico Credit Card Forum

Anonymous — Fri, 13 Jan 2012 14:00:01 GMT

This is my first and only post.

I just wanted to say that this forum has been of tremendous help to me in the past on rebuilding and picking the right credit cards. However, it's my belief that the quality of information has declined as of late and I can no longer trust the information being provided at this forum.

I've seen several post by individuals that claim they are in rebuilding mode, yet they consistantly post on this forum that they are applying for prime credit cards, requesting CLI's, etc. These individuals get upset and/or disappointed when the request is denied. And other forum members chime in with their condolences. Instead, of point them to the hard fact that maybe they shouldn't have apped in the first place. Maybe they should garden for the next year or two and focus on removing their baddies off their credit report or whatever else needs to be improved.

This forum use to talk about only applying for credit when needed and being conservative with your credit habits!

The interesting thing is that these supposed "rebuilders" are also giving advise about prime cards and rebuilding to others! Can you reallly trust the advise of someone that seems to have bad credit habits? And why do these individuals seem to get a pass when it comes to bad credit habits?

Just wondering?

Someone had to say it!

Re: Disappointed in Myfico Credit Card Forum

Anonymous — Fri, 13 Jan 2012 14:02:24 GMT

This thread should create some momentum in this forum real quick.

Re: Disappointed in Myfico Credit Card Forum

Anonymous — Fri, 13 Jan 2012 14:05:25 GMT

@Anonymous wrote:
This is my first and only post.

I just wanted to say that this forum has been of tremendous help to me in the past on rebuilding and picking the right credit cards. However, it's my belief that the quality of information has declined as of late and I can no longer trust the information being provided at this forum.

I've seen several post by individuals that claim they are in rebuilding mode, yet they consistantly post on this forum that they are applying for prime credit cards, requesting CLI's, etc. These individuals get upset and/or disappointed when the request is denied. And other forum members chime in with their condolences. Instead, of point them to the hard fact that maybe they shouldn't have apped in the first place. Maybe they should garden for the next year or two and focus on removing their baddies off their credit report or whatever else needs to be improved.

This forum use to talk about only applying for credit when needed and being conservative with your credit habits!

The interesting thing is that these supposed "rebuilders" are also giving advise about prime cards and rebuilding to others! Can you reallly trust the advise of someone that seems to have bad credit habits? And why do these individuals seem to get a pass when it comes to bad credit habits?

Just wondering?

Someone had to say it!

I feel like the key is in your last sentence...it's up to the reader to decide whether the person giving advice is qualified.

Re: Disappointed in Myfico Credit Card Forum

Chrisla2077 — Fri, 13 Jan 2012 14:11:10 GMT

Some people with poor credit now (which is most often due to some extreme life circumstance), does not mean that they never had any experience with prime cards or applications. I don't think anyone's, who has had experience with these products, advice should be discounted. It's simply up to the reader to take it. Just because a person has bad credit, does not mean they've had bad habits. This is certainly not 100% of the case.

Re: Disappointed in Myfico Credit Card Forum

boomhower — Fri, 13 Jan 2012 14:20:05 GMT

It's up the reader to decide if the suggestions are sound or not. We are all adults and can see patterns and post histories. You have made some observations, someone asking a question has a duty to themselves to find out if the answers they get are sound or not. If someone goes to an online forum and blindly takes advice given that's on them. There are a lot of good people who give good advice. The forum is full of great information, just like everything else in life each person needs to make a decision for themselves whether to take it or not.

Re: Disappointed in Myfico Credit Card Forum

sweetschuni — Fri, 13 Jan 2012 14:22:55 GMT

Re: Disappointed in Myfico Credit Card Forum

CS800 — Fri, 13 Jan 2012 14:47:25 GMT

@Anonymous wrote:
This is my first and only post.

I just wanted to say that this forum has been of tremendous help to me in the past on rebuilding and picking the right credit cards. However, it's my belief that the quality of information has declined as of late and I can no longer trust the information being provided at this forum.

I've seen several post by individuals that claim they are in rebuilding mode, yet they consistantly post on this forum that they are applying for prime credit cards, requesting CLI's, etc. These individuals get upset and/or disappointed when the request is denied. And other forum members chime in with their condolences. Instead, of point them to the hard fact that maybe they shouldn't have apped in the first place. Maybe they should garden for the next year or two and focus on removing their baddies off their credit report or whatever else needs to be improved.

This forum use to talk about only applying for credit when needed and being conservative with your credit habits!

The interesting thing is that these supposed "rebuilders" are also giving advise about prime cards and rebuilding to others! Can you reallly trust the advise of someone that seems to have bad credit habits? And why do these individuals seem to get a pass when it comes to bad credit habits?

Just wondering?

Someone had to say it!

While we all have different take in life. It is up to you to decide your course of action. This forum has a wealth of information and I owe a lot to these folks on here. It is true that sometimes some threads divert from the original topic or that some go all over the place. But I'm sure that if you ask a question you will get an answer; doesnt mean you will agree with it. But you will also see a lot of opinions; that's the beauty of the forum.

However I'm a firm beleiver that as adults we have to take responsibility for our own actions. If we decide to do something, it is at our own risk. Notice that we do not blame each other for things that we do ourselves. Whether we pull the trigger on an app or not is our own free will. But as you can see we do support each other well.

I suggest that you take the advice and decide how you want (if you want to) to act on it. We can suggest something to someone but we hope that as adults we wont point fingers if an outcome is negative.

I sincerely hope that you benefit from this forum. Take the information and you decide how (and if) it will fit in your desired outcome.

Re: Disappointed in Myfico Credit Card Forum

namvet — Fri, 13 Jan 2012 14:27:05 GMT

@boomhower wrote:
It's up the reader to decide if the suggestions are sound or not. We are all adults and can see patterns and post histories. You have made some observations, someone asking a question has a duty to themselves to find out if the answers they get are sound or not. If someone goes to an online forum and blindly takes advice given that's on them. There are a lot of good people who give good advice. The forum is full of great information, just like everything else in life each person needs to make a decision for themselves whether to take it or not.

Re: Disappointed in Myfico Credit Card Forum

Datx — Fri, 13 Jan 2012 14:30:17 GMT

Some folks may find a forum helpful than it is to others. Sorry to see you go, BOL.

Re: Disappointed in Myfico Credit Card Forum

visorboy1974 — Fri, 13 Jan 2012 14:36:42 GMT

While I agree with what the OP is saying, experience on this forum tells me the posts to take as truth and the posts to ignore. After a while it becomes very easy to distinguish.

Re: Disappointed in Myfico Credit Card Forum

RockinRay — Fri, 13 Jan 2012 14:40:24 GMT

@visorboy1974 wrote:
While I agree with what the OP is saying, experience on this forum tells me the posts to take as truth and the posts to ignore. After a while it becomes very easy to distinguish.

I agree with this. It does become pretty easy to see through the fog. We all see wild CL's posted here and I have sometimes wondered how much truth there is to some of these.

But you should take most people for their word. At least, that is the way that I feel.

Re: Disappointed in Myfico Credit Card Forum

Tonya-E — Fri, 13 Jan 2012 14:43:40 GMT

Although I see your point in a way, the value of information is subjective. What may help you, may not help someone else. IMO, to request a CLI on an existing card is not "bad advice" if you aren't taking a hard inquiry. You are working with the credit you have without apping for new credit which to me is the best avenue to take. If you have no baddies and don't exceed the credit use on your cards that you can afford to pay off, then there is really nothing left to do but cultivate what you have. Constant apping and all that kind of stuff is your own choice. From what I have read up here those who do that know the consequences, but choose to do it anyway. To have credit cards, a mortgage, etc. is not in and of itself, "bad credit habits". It's what you do with it that demonstrates the habits.

Re: Disappointed in Myfico Credit Card Forum

GB44 — Fri, 13 Jan 2012 14:52:50 GMT

@visorboy1974 wrote:
While I agree with what the OP is saying, experience on this forum tells me the posts to take as truth and the posts to ignore. After a while it becomes very easy to distinguish.
+1 And Thank goodness no one was called out specifically!

I've figured out what post to ignore.

I think there also tends to be a "don't rock the boat attitude" to prevent arguments on this forum. This lends to bad behavior of some on this forum.

Re: Disappointed in Myfico Credit Card Forum

Anonymous — Fri, 13 Jan 2012 15:09:12 GMT

These rebuilders who have gotten into trouble with credit, and are applying for "prime" cards as you point out, are actually the ones who are in a postiion to tell others their experiences, and thus help them.

So I find that valuable as I have found much of the information here valuable.

I find that criticizing people for going for better cards (how are they ever going to get them if they don't try?) is pointless. I guess if you find no meaning in it, or use in this forum, you might as well leave.

As for me I'll continue to learn from others here. I've learned a lot already and I can say I'm better for it. I personally am grateful to these people.

Best of luck.

Re: Disappointed in Myfico Credit Card Forum

Anonymous — Fri, 13 Jan 2012 15:11:49 GMT

And just out of curiousity, what do you mean by they "get a pass"? As in, how? And who exactly are you to judge people you don't know anyway? You have NO, and I mean NO idea what cricumstances might have ruined their credit. Did they lose their job through no fault of their own and were unable despite their best efforts to get another job? Did they have unexpected huge medical bills they had no hope of paying? Or were they just careless and irresponsible? You have no way to know that, and you have no right to judge.

Someone had to say it.

Re: Disappointed in Myfico Credit Card Forum

RockinRay — Fri, 13 Jan 2012 15:16:14 GMT

@Anonymous wrote:
And just out of curiousity, what do you mean by they "get a pass"? As in, how? And who exactly are you to judge people you don't know anyway? You have NO, and I mean NO idea what cricumstances might have ruined their credit. Did they lose their job through no fault of their own and were unable despite their best efforts to get another job? Did they have unexpected huge medical bills they had no hope of paying? Or were they just careless and irresponsible? You have no way to know that, and you have no right to judge.

Someone had to say it.

Here here! Very well stated.

Re: Disappointed in Myfico Credit Card Forum

visorboy1974 — Fri, 13 Jan 2012 15:22:14 GMT

Taking the popcorn out of the microwave and opening my soda and having a seat.

Re: Disappointed in Myfico Credit Card Forum

Tonya-E — Fri, 13 Jan 2012 15:25:28 GMT

Very well said @ LilloEsquilo! +1!

Re: Disappointed in Myfico Credit Card Forum

Anonymous — Fri, 13 Jan 2012 15:27:57 GMT

I completely agree with the original poster. There has been an atmosphere of one-up-manship on here recently. A lot of people who keep pushing their credit possibilities to the utmost. While this is not unlawful it has little to do with the conservative and slow approach to building credit. For some on here, it's all a game about how to get the biggest lines in no time. It's not about long-term strategies.

Frequent questions on here include:

"I've had my XY credit card for 2 months. When am I eligible for a line increase?"

"I've got only 2 baddies on my report. Why am I declined by bank X?"

"My application spree results: 8 out of 12 applications approved! When can I apply for new cards?"

"I make $40k a year. Why is my credit line with bank X only $10k?"

"I was declined for having too many inquiries. How can I recon? And, if approved during reconning, can I ask them for a CLI right away?"

"I've had my XYZ credit card for a year. Why does Amex reject me for too little credit history?"

Frequent answers/adivise by some "experts" include:

"Recon, recon, recon! If not approved, call ten times till they approve you!"

"Ask for twice your current limit!"

"Ask for as much as you can. They'll counter it."

"Don't care about inquiries. They don't matter."

"Get them all out of the way at once."

"You've got only X number of baddies on your report. You're in good shape."

I don't like the tone of entitlement that a lot of posters seem to exude. Maybe that's just my wrong perception. Most people on here are actually quite nice and helpful (from what I can tell from their online persona).In general, I'd like this forum to be a bit more conservative altogether.

I understand that some of the rebuilders saw their credit ruined through unpredictable events, bad luck, bad health. But there are also those who played high-risk games by over-extending themselves financially. It's not legal advise that's given here, obviously. However, I tend to be more impressed by those posters on here that give fairly conservative advise and that seem to have a long (and good) credit history.

Re: Disappointed in Myfico Credit Card Forum

Chrisla2077 — Fri, 13 Jan 2012 16:09:46 GMT

@Anonymous wrote:
And just out of curiousity, what do you mean by they "get a pass"? As in, how? And who exactly are you to judge people you don't know anyway? You have NO, and I mean NO idea what cricumstances might have ruined their credit. Did they lose their job through no fault of their own and were unable despite their best efforts to get another job? Did they have unexpected huge medical bills they had no hope of paying? Or were they just careless and irresponsible? You have no way to know that, and you have no right to judge.

Someone had to say it.

+ 1 Exactly what I was trying to say!!