dropping utilization

[smallfry]

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@haulingthescoreup wrote:

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@smallfry wrote:
The EQ generated report shows your soft pulls and has more detail as far as payment history. You can take a one month flyer for 7 bucks if you use the discount from the Coastal Credit Union website. This will allow you to view an updated EQ report every 24 hours and 1 minute. Equifax calls this product Credit Watch Gold.

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Whoa, no sh*t?? daily EQ pulls?? OK, I need to find my teeth and put them back in!

Any minuses to the EQ version?

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None at all. You'll find that any creditors that pulled Equifax for your applications who approved you do account reviews periodically. Other than that it is basically the same thing you get at Truecredit or one of the other resellers. This whole business of pulling credit reports is problematic. If you pull Equifax too often you run the risk of a split file. If you don't pull the reports how do you know if you are the victim of ID theft? Unless you are adding accounts or radically reducing or increasing your utilization of available credit it is really a waste of time and money to pull your reports. FICO's TU product doesn't work either. I signed up for weekly emails and just got my first after six weeks. It claimed there were no changes to my TU when I had added an inquiry and an account to that report. The entire reporting system needs to be revamped. There really needs to be only 1 agency that collects data.

[Anonymous]

As smallfry indicated, the Equifax report is much more detailed.  Soft pulls show up (including the day that the pull was done).  The account information displayed is more detailed, including date opened, date reported, date of last payment, scheduled payment amount (or minimum payment), actual payment, high credit, credit limit, and balance.  The dates are only MM/YY format though.

What's nice is they show last date reported for each account on the summary page.  Makes it easy to see who's reporting and when.

What's odd is that all of my current accounts reported last month, but for some reason both my HSBC cards (HSBC and Household) last reported in September?

[Anonymous]

My HSBC accounts also have a last reporting from Sept. I thought that was weird but I had paid both of these cards off and thought maybe that was why.

[haulingthescoreup]

Some companies are slow or get behind in reporting. My Countrywide mortgage hasn't updated since September, either, but I think that is because they only have about 7 employees left nationwide.

[smallfry]

I get the feeling HSBC updates only 6 times per year.

[jackg]

Son of a gun, my HSBC account also did'nt report in September! Maybe they went to celebrate Oktoberfest?

[Anonymous]

thats my motto.. never ever be late..

I swear if I had to I would bounce a check before I 'd be late.

[haulingthescoreup]

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@Anonymous wrote:

thats my motto.. never ever be late..

I swear if I had to I would bounce a check before I 'd be late.

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And then you'd be dinged on Chexsystems!

[Anonymous]

FYI

if i did have to pay a bill in order to keep from being 30 days late I would defintely do so without hesitation. 

The thing is that checksystems is only notified via the bank when a person is ABUSIVE. So ONE check will not do anything to jeopardize my relationship with checksystem...I know this well and no I would not have a ding on anything....just a bounced check fee that the bank will charge in which i will be very happy to pay in order to avoid being late on any of my bills. Between the ages of 19 and 25 when i didn't have a good job i learned to juggle everything in my favor...so now that i am able to afford my weight.. there is no need to...just stressing the importance of never being late...on a bill....7 years of a negative vs 30 dollar bank fee.....i know which is better for me...

[haulingthescoreup]

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@Anonymous wrote:

FYI

if i did have to pay a bill in order to keep from being 30 days late I would defintely do so without hesitation.

The thing is that checksystems is only notified via the bank when a person is ABUSIVE. So ONE check will not do anything to jeopardize my relationship with checksystem...I know this well and no I would not have a ding on anything....just a bounced check fee that the bank will charge in which i will be very happy to pay in order to avoid being late on any of my bills. Between the ages of 19 and 25 when i didn't have a good job i learned to juggle everything in my favor...so now that i am able to afford my weight.. there is no need to...just stressing the importance of never being late...on a bill....7 years of a negative vs 30 dollar bank fee.....i know which is better for me...

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Didn't mean to offend --I was just pondering the intricacies of credit and personal finance.