topic Re: True Credit in General Credit Topics

True Credit

Anonymous — Thu, 25 Oct 2007 23:32:09 GMT

Okay, I am a sucker because I signed up for TrueCredit. I am trying to rebuild my credit and My daughter is paying a car note for a car in my name (she is the co-signer) and when I started talking to a loan officer I discovered from TranUnion my daughter had been late 5 times with the car note OMG! I need to monitor this payment closely If I am ever going to get myself in a position to own a home. I will be having for sure several questions for the board as soon as I get a quite moment to scan the reports. Did I make the right choice?

Re: True Credit

smallfry — Fri, 26 Oct 2007 00:04:47 GMT

Yep but don't pull it more than once per week.

Re: True Credit

haulingthescoreup — Fri, 26 Oct 2007 00:32:04 GMT

No one knows why they ban certain people. There was a theory that they hit people who already had a lot of inqs, but then, they've tossed others with hardly any. They've also banned people who pulled relatively rarely. If all you're doing is making sure that she's paying on a timely basis, once a month would do it. I would pull about 5 days after the payment was due --see the exact dates when the others were posted --so that if it didn't show, you can jump on it before it posts as 30-days late.

I started on 9/9, and I've probably made 35+ pulls in those 46 days. They're still letting me pull. Go figure! FWIW, I have 4 inqs in the last 12 months, plus another one that is no longer being counted and will fall off this coming February.

A thought: since your daughter has been sloppy with her payments, why don't you get her to pay half the TC subscription, or alternate months? She needs to get focused on responsible credit behavior PDQ!

Re: True Credit

SmartCookie — Fri, 26 Oct 2007 03:05:11 GMT

Good idea to monitor BUT by the time you find out about anything major, it's already happened. GW the lates and have your daughter pay YOU every month and YOU pay the creditor on time.

Re: True Credit

haulingthescoreup — Fri, 26 Oct 2007 03:12:06 GMT

@SmartCookie wrote:
Good idea to monitor BUT by the time you find out about anything major, it's already happened. GW the lates and have your daughter pay YOU every month and YOU pay the creditor on time.

...and that's how SmartCookie earned her name! Great idea