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I've just about had it...

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MidnightVoice
Super Contributor

Re: I've just about had it...



@Anonymous wrote:
No credit card company has a vested interest in reporting anything positive about you to the bureaus. That could cause your scores to rise, and that would in-turn give you the opportunity to seek a better card or interest rate from a competitor.

And the bureaus? They are in no hurry to see your scores rise either. The bureaus all want to sell you subscriptions and services that encourage you to monitor your scores and other tools to help you "work" on your scores... all of which would be obsolete and not needed if credit card companies would simply report positive info immediately, and bureaus would post it on a "real time" basis.

More than one bureau associate has admitted this to me over the phone. It's a brilliant business plan... it just sucks for the consumer.

A wise man once said:

@Anonymous wrote:
Remember that credit bureaus use different methods to receive and process good versus bad credit information.

Information that would negatively affect your credit rating--like a late pay or charge-off--is instantly beamed from the creditor to the agency via Department of Defense 256-megabit fiber optic lines and written to their servers in 8.6 milliseconds.

Information that would positively affect your credit rating is scribed onto scrolls in special ink by Gregorian monks, which are then painstakingly illuminated. The Credit Scrolls are then placed onto camel caravans which wind their way to the credit bureau headquarters by way of Marrakesh, Dubai, and Tripoli. Once the caravan reaches Equifax, Experian or TransUnion, the scrolls are then laid out in the sun for a week so that the special ink can be read. (Note that the weather around the credit bureau headquarters is notoriously gloomy, like FICO itself, so finding seven consecutive days of sunshine can be quite an ordeal in and of itself.) Only then can the information finally be encoded into your credit files...


The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 11 of 15
Anonymous
Not applicable

Re: I've just about had it...



@MidnightVoice wrote:


@Anonymous wrote:
No credit card company has a vested interest in reporting anything positive about you to the bureaus. That could cause your scores to rise, and that would in-turn give you the opportunity to seek a better card or interest rate from a com

A wise man once said:

@Anonymous wrote:
Remember that credit bureaus use different methods to receive and process good versus bad credit information.

Information that would negatively affect your credit rating--like a late pay or charge-off--is instantly beamed from the creditor to the agency via Department of Defense 256-megabit fiber optic lines and written to their servers in 8.6 milliseconds.

Information that would positively affect your credit rating is scribed onto scrolls in special ink by Gregorian monks, which are then painstakingly illuminated. The Credit Scrolls are then placed onto camel caravans which wind their way to the credit bureau headquarters by way of Marrakesh, Dubai, and Tripoli. Once the caravan reaches Equifax, Experian or TransUnion, the scrolls are then laid out in the sun for a week so that the special ink can be read. (Note that the weather around the credit bureau headquarters is notoriously gloomy, like FICO itself, so finding seven consecutive days of sunshine can be quite an ordeal in and of itself.) Only then can the information finally be encoded into your credit files...







LOL!! Smiley Very Happy

Sometimes, I think that's the truth... Spoiled by CJ's insta-report, I suppose...

This brings a question to mind, tho. I got my tribute card in Dec. if they report in 90 days, will they report for march starting in march, or will they report december in March? I don't want to lose age because of their slack selves.
Message 12 of 15
Anonymous
Not applicable

Re: I've just about had it...



Jennabean wrote:
LOL!! Smiley Very Happy

Sometimes, I think that's the truth... Spoiled by CJ's insta-report, I suppose...

This brings a question to mind, tho. I got my tribute card in Dec. if they report in 90 days, will they report for march starting in march, or will they report december in March? I don't want to lose age because of their slack selves.

One of the things they report is the date the account was opened, which is how the age of the account is determined.  It makes no difference whether they report for the first time one month later or three years later, you'll get credit for the age from the date the account was opened.

 
Message 13 of 15
MidnightVoice
Super Contributor

Re: I've just about had it...



Jennabean wrote:


This brings a question to mind, tho. I got my tribute card in Dec. if they report in 90 days, will they report for march starting in march, or will they report december in March? I don't want to lose age because of their slack selves.

All my cards report the date opened.  Amex took nearly 2 months for the first statement to hit (as normal), but the opening date on the CRs is correct.
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 14 of 15
Anonymous
Not applicable

Re: I've just about had it...

Whew!!! I feel better now... and I'll feel even better once they report....
Message 15 of 15
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