topic Re: App spree then garden time...need help! in Credit Cards

App spree then garden time...need help!

acevesf — Sun, 19 Feb 2012 14:53:05 GMT

Hi all. Well I'm going to go on a little app spree and would like some help in deciding what to apply for and where I have the best chance of approval.

My Profile:

Eq: 632 pulled 2/17.TU 692 pulled today
Income: 65K
AAOA: 3 years (oldest 6yrs 8 monts)
Baddie: WFNB/Express had a 30 day late in december 2006 Was stupid and young.. argh! Will this fall of in 12/2013 or is it based off the date the account was opened which was 4/05?
Collections: 6 medical

Current accounts:

credit one bank	8/2008	$272	950 limit
barclays/apple	3/2011	$580	2500 limit
macys	8/2008	$32
best buy store card	1/2008	$245	1900 limit
security service credit union	8/2007	$3,279	car loan will be paid off in august
guild mortgage.	7/2010	$236,730	mortgage

App Spree: I'd like to apply for a major credit card, I have two visas was thinking of adding a MC to the mix if possible.
Can any of you credit gurus make some suggestions?
Anyone pull just transunion?

Will the medical collections prevent me from approval?

Note: I will also be trying for a Jared Card soon, hoping to add that and one more card to my profile before gardening for a year or two.

Re: App spree then garden time...need help!

LS2982 — Sun, 19 Feb 2012 15:28:31 GMT

@acevesf wrote:
Hi all. Well I'm going to go on a little app spree and would like some help in deciding what to apply for and where I have the best chance of approval.

My Profile:
Eq: 632 pulled 2/17.TU 692 pulled today
Income: 65K
AAOA: 3 years (oldest 6yrs 8 monts)
Baddie: WFNB/Express had a 30 day late in december 2006 Was stupid and young.. argh! Will this fall of in 12/2013 or is it based off the date the account was opened which was 4/05?
Collections: 6 medical
Current accounts:
credit one bank 8/2008 $272 950 limit
barclays/apple 3/2011 $580 2500 limit
macys 8/2008 $32
best buy store card 1/2008 $245 1900 limit
security service credit union 8/2007 $3,279 car loan will be paid off in august
guild mortgage. 7/2010 $236,730 mortgage
App Spree: I'd like to apply for a major credit card, I have two visas was thinking of adding a MC to the mix if possible.
Can any of you credit gurus make some suggestions?
Anyone pull just transunion?
Will the medical collections prevent me from approval?
Note: I will also be trying for a Jared Card soon, hoping to add that and one more card to my profile before gardening for a year or two.

IMO, you may want to work on getting those collections removed first. Are they paid?? If yes, send GW letters.

Util. is not that bad (18%) but i;d try to get that down below 7%.

Barclay's is the only major CC provider I know that primarily pulls TU.

I think if you work on removing the collections and getting your util. down and gardening until January you wont have to rely on just TU you can get what you really want!

Re: App spree then garden time...need help!

acevesf — Sun, 19 Feb 2012 16:25:30 GMT

Good point LS2982, they're medical collections. I hope I can do some PFD on some of them...

Gonna try for the Jared and leave it at that for a while then work on the medical collections!

Re: App spree then garden time...need help!

Anonymous — Sun, 19 Feb 2012 16:32:45 GMT

maybe medical insurance...

Re: App spree then garden time...need help!

Anonymous — Sun, 19 Feb 2012 16:34:17 GMT

@acevesf wrote:
Hi all. Well I'm going to go on a little app spree and would like some help in deciding what to apply for and where I have the best chance of approval.

My Profile:
Eq: 632 pulled 2/17.TU 692 pulled today
Income: 65K
AAOA: 3 years (oldest 6yrs 8 monts)
Baddie: WFNB/Express had a 30 day late in december 2006 Was stupid and young.. argh! Will this fall of in 12/2013 or is it based off the date the account was opened which was 4/05? it will fall off 7 years + 180 days from DoFD (Date of First Delinquency)
Collections: 6 medical
Current accounts:
credit one bank 8/2008 $272 950 limit
barclays/apple 3/2011 $580 2500 limit
macys 8/2008 $32
best buy store card 1/2008 $245 1900 limit
security service credit union 8/2007 $3,279 car loan will be paid off in august
guild mortgage. 7/2010 $236,730 mortgage
App Spree: I'd like to apply for a major credit card, I have two visas was thinking of adding a MC to the mix if possible.
Can any of you credit gurus make some suggestions?
Anyone pull just transunion?
Will the medical collections prevent me from approval?
Note: I will also be trying for a Jared Card soon, hoping to add that and one more card to my profile before gardening for a year or two.

and +1 to what LS posted.

Re: App spree then garden time...need help!

Anonymous — Sun, 19 Feb 2012 16:39:32 GMT

buy some medical insurance then you wont have future medical collections

Re: App spree then garden time...need help!

LS2982 — Sun, 19 Feb 2012 16:54:52 GMT

@Anonymous wrote:
buy some medical insurance then you wont have future medical collections

Not sure how to respond to this.......................

It's possible the OP ran into some hard times and wasn't able to pay his/her bills.....

Re: App spree then garden time...need help!

Open123 — Sun, 19 Feb 2012 16:57:15 GMT

@Anonymous wrote:
buy some medical insurance then you wont have future medical collections

You'd be surprised by how large co-pays and assorted other bills that medical insurance doesn't cover.

Re: App spree then garden time...need help!

LS2982 — Sun, 19 Feb 2012 16:58:54 GMT

@Open123 wrote:
@Anonymous wrote:
buy some medical insurance then you wont have future medical collections
You'd be surprised by how large co-pays and assorted other bills that medical insurance doesn't cover.

Big +1

Thats what im dealing with now with my DW.

Re: App spree then garden time...need help!

Anonymous — Sun, 19 Feb 2012 17:07:55 GMT

without med. insur. the collects will just continue in the future and credit scores will always be low. health costs is the number 1 cause of bk.

Re: App spree then garden time...need help!

LS2982 — Sun, 19 Feb 2012 17:19:07 GMT

@Anonymous wrote:
without med. insur. the collects will just continue in the future and credit scores will always be low. health costs is the number 1 cause of bk.

I somewhat agree with this. I all depends on how responsible the individual is with their finances.

Re: App spree then garden time...need help!

Open123 — Sun, 19 Feb 2012 17:26:48 GMT

From what I've read, an estimated 55-60% of all CRA derogs are related to medical expenses.

Maybe around 50% of BKs are due to unexpected medical expenses. There's got to be something wrong with the scenario where if you get sick, you'll be financially ruined at the same time.

Re: App spree then garden time...need help!

Open123 — Sun, 19 Feb 2012 17:28:13 GMT

@LS2982 wrote:
@Anonymous wrote:
without med. insur. the collects will just continue in the future and credit scores will always be low. health costs is the number 1 cause of bk.
I somewhat agree with this. I all depends on how responsible the individual is with their finances.

Individual responsibility is important, but so is the cost. These days, the cost of medical care is certainly not commensurate with the quality of the care.

Re: App spree then garden time...need help!

LS2982 — Sun, 19 Feb 2012 17:29:41 GMT

@Open123 wrote:
@LS2982 wrote:
@Anonymous wrote:
without med. insur. the collects will just continue in the future and credit scores will always be low. health costs is the number 1 cause of bk.
I somewhat agree with this. I all depends on how responsible the individual is with their finances.
Individual responsibility is important, but so is the cost. These days, the cost of medical care is certainly not commensurate with the quality of the care.

I agree. But most companies will work with you with good communication and a payment arragement.

Re: App spree then garden time...need help!

Anonymous — Sun, 19 Feb 2012 18:19:38 GMT

@Open123 wrote:
@Anonymous wrote:
buy some medical insurance then you wont have future medical collections
You'd be surprised by how large co-pays and assorted other bills that medical insurance doesn't cover.

Or, your doctor's office doesn't code something properly and the insurance company refuses to pay for something that they should cover. I've had that happen. The doctor's office insisted that they used the proper billing code and the insurance company insisted otherwise. If it's something too large to pay for out of pocket so as to protect one's credit, it can wind up as a collection. (Mine was relatively small so I ate it. )

Re: App spree then garden time...need help!

LS2982 — Sun, 19 Feb 2012 18:22:10 GMT

@Anonymous wrote:
@Open123 wrote:
@Anonymous wrote:
buy some medical insurance then you wont have future medical collections
You'd be surprised by how large co-pays and assorted other bills that medical insurance doesn't cover.

Or, your doctor's office doesn't code something properly and the insurance company refuses to pay for something that they should cover. I've had that happen. The doctor's office insisted that they used the proper billing code and the insurance company insisted otherwise. If it's something too large to pay for out of pocket so as to protect one's credit, it can wind up as a collection. (Mine was relatively small so I ate it. )

Something of that nature I would dispute if it got on my credit reports after trying to fix the situation with the doctor/ins. company.

Re: App spree then garden time...need help!

haulingthescoreup — Sun, 19 Feb 2012 18:27:30 GMT

@LS2982 wrote:
@Anonymous wrote:
@Open123 wrote:
@Anonymous wrote:
buy some medical insurance then you wont have future medical collections
You'd be surprised by how large co-pays and assorted other bills that medical insurance doesn't cover.

Or, your doctor's office doesn't code something properly and the insurance company refuses to pay for something that they should cover. I've had that happen. The doctor's office insisted that they used the proper billing code and the insurance company insisted otherwise. If it's something too large to pay for out of pocket so as to protect one's credit, it can wind up as a collection. (Mine was relatively small so I ate it. )
Something of that nature I would dispute if it got on my credit reports after trying to fix the situation with the doctor/ins. company.

Understandable reaction, but it won't help, because you can't dispute whether you ought to have been sent to collections. (That's an argument to have with the OC.) You can only dispute whether you actually got sent to collections, whether it was your bill, etc etc.

I'm a coder, and every now and then an insurance company kicks back a bill. I'll take a look at it and see if it can reasonably (and ETHICALLY) be recoded, but IME, most of the time it's because the insurance company doesn't know what it's doing. Often, they don't like the diagnosis code that was linked to the procedure code, so they deny it for lack of medical necessity.

Whenever possible (I know that emergencies are different), get a preapproval from the insurance company before you have anything done. It can save you a ton of grief.

Re: App spree then garden time...need help!

LS2982 — Sun, 19 Feb 2012 18:32:25 GMT

@haulingthescoreup wrote:
@LS2982 wrote:
@Anonymous wrote:
@Open123 wrote:
@Anonymous wrote:
buy some medical insurance then you wont have future medical collections
You'd be surprised by how large co-pays and assorted other bills that medical insurance doesn't cover.

Or, your doctor's office doesn't code something properly and the insurance company refuses to pay for something that they should cover. I've had that happen. The doctor's office insisted that they used the proper billing code and the insurance company insisted otherwise. If it's something too large to pay for out of pocket so as to protect one's credit, it can wind up as a collection. (Mine was relatively small so I ate it. )
Something of that nature I would dispute if it got on my credit reports after trying to fix the situation with the doctor/ins. company.
Understandable reaction, but it won't help, because you can't dispute whether you ought to have been sent to collections. (That's an argument to have with the OC.) You can only dispute whether you actually got sent to collections, whether it was your bill, etc etc.

I'm a coder, and every now and then an insurance company kicks back a bill. I'll take a look at it and see if it can reasonably (and ETHICALLY) be recoded, but IME, most of the time it's because the insurance company doesn't know what it's doing. Often, they don't like the diagnosis code that was linked to the procedure code, so they deny it for lack of medical necessity.

Whenever possible (I know that emergencies are different), get a preapproval from the insurance company before you have anything done. It can save you a ton of grief.

I understand what your saying, but IMO it's not my problem that the Ins. company and the doctors office can't get on the same page. So ruining my credit for it shouldn;t be in the equation unless I decide I'm not going to in good faith try to fix the situation.

If you totally blow it off of course it should go on your CR but if your making strides to resolve the situation and they still do it i'll fight it tooth and nail with the bureaus!

Re: App spree then garden time...need help!

haulingthescoreup — Sun, 19 Feb 2012 23:36:31 GMT

@LS2982 wrote:
@haulingthescoreup wrote:

Understandable reaction, but it won't help, because you can't dispute whether you ought to have been sent to collections. (That's an argument to have with the OC.) You can only dispute whether you actually got sent to collections, whether it was your bill, etc etc.

I'm a coder, and every now and then an insurance company kicks back a bill. I'll take a look at it and see if it can reasonably (and ETHICALLY) be recoded, but IME, most of the time it's because the insurance company doesn't know what it's doing. Often, they don't like the diagnosis code that was linked to the procedure code, so they deny it for lack of medical necessity.

Whenever possible (I know that emergencies are different), get a preapproval from the insurance company before you have anything done. It can save you a ton of grief.
I understand what your saying, but IMO it's not my problem that the Ins. company and the doctors office can't get on the same page. So ruining my credit for it shouldn;t be in the equation unless I decide I'm not going to in good faith try to fix the situation.

If you totally blow it off of course it should go on your CR but if your making strides to resolve the situation and they still do it i'll fight it tooth and nail with the bureaus!

Yup. It just won't work. It'll come back as verified.

I found out the hard way that even a legit dispute can get you labeled as a frivolous disputer. For a stretch of time, J.Crew would never update my balances back to $0 after balances posted and I paid them off. It made me crazy to see that balance reported after it had been paid off 2 months before. So the first time, I disputed the balance with all three bureaus, and it got fixed. 4-6 months later, it happened again. So I disputed with all three again, and Experian refused to investigate, saying that they had already done so. No, same lender, different balance and date, doofuses. Nevertheless, they blew it off.