making sense of conflicting statements on CR

[atlastontheroad]

I've already done it that way twice and what a GREAT feeling it is.  May not do a thing for my scores...but does a whole bunch for my peace of mind... and what's that MC commercial...(ironic)...??? 

.......Having the peace of mind to not go further into debt?... Priceless!!!

Amen. 

In the past two months, thanks to the folks here, I know I can be debt free (ok, if you don't count the mortgage and the car that is coming in June) and save money.

Peace of mind, empowerment, and the incredible lightness of being on the road to recovery....absolutely priceless.

Oh, and then there is the real fun of "If I put my mortgage, cable, cell and utility bills on my rewards card, PIF monthly......."

Someday in the near future.   It's fun to contemplate.

atlast....

[Anonymous]

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atlastontheroad wrote:

Oh, and then there is the real fun of "If I put my mortgage, cable, cell and utility bills on my rewards card, PIF monthly......."

Someday in the near future.   It's fun to contemplate.

atlast....

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LOVE that idea! 

Actually started looking around for a way to do that with the mortgage, but they don't take the card. (But they do OFFER a card that pays rewards on your mortgage... for every $2500 put on the card, they'll put $50 toward the principle of the mortgage.  Just applied for that and got the 'letter in 10 days' reply - probably 'cause I had just gone on a major apping spree and look risky.  Oh well.)

I  may do it with car payment, cable, cell, etc... I mean, I pay for it every month out of my checking... why *not* get rewards for it? 

Well...actually, one reason may be I have to really, really, really trust that I *will* PIF every single month  or I'm in big trouble!  Don't want the whole 'robbing Peter to pay Paul scenario popping up again.

but still... Would love to get benefits FROM the card instead of giving benefits ($$$$$) to. 

Sovi

[atlastontheroad]

Could you let me know what CC does the $50 reduction to principle for $2500 paid?  Shoot, that would mean a nearly $600 reduction in my principle yearly.

New York.  A lovely, if not incredibly expensive place to live.

atlast

[Anonymous]

It could be this one:

https://www.citicards.com/cards/wv/cardDetail.do?screenID=934

Not exactly $50 per $2500 in spending (which is 2%), but it may even be better.

For the first twelve months: 6% rebates on Internet, telecom services, cable, satellite, and utilities, and 1% rebates for everything else.

After the first twelve months, 1% rebates on everything.

Accrued rebates can be sent to your mortgage lender once per year to be applied directly to your mortgage principal balance.

[atlastontheroad]

Thanks Cheddar.  Since you're now a mod, do you automatically know what CRA they pull?  How about what scores would get me that card?  (grin)

Kidding.

I'm waiting for the fallout of all disputes before doing any kind of apping.

atlast

[Anonymous]

Ha!

Nope, I don't know who they would pull for you.  Citi seems to vary their pulls not only by state but also by state/product combination in conjunction with the phase of the moon and who the current governor of New York is.

Financeglobe says you need around 719 for the card, but their estimates are usually notoriously high.

[atlastontheroad]

Right, so I'm waiting a bit, until I'm close to 700.

From 534 in February to 641 in March, I think I can wait this one out.

[Anonymous]

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atlastontheroad wrote:

Could you let me know what CC does the $50 reduction to principle for $2500 paid?  Shoot, that would mean a nearly $600 reduction in my principle yearly.

New York.  A lovely, if not incredibly expensive place to live.

atlast

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Hi At Last,

It may be specific to my mortgage company (Countwide)  it's a credit card they offer through their site.    I understand AMEX offers one too, but they charge a $395 fee???

Here's the website for the Countrywide site:  https://www.firstusa.com/cgi-bin/webcgi/webserve.cgi?partner_dir_name=countrywide_rewardslow&page=co...

Problem is it's from First USA, which I've seen LOTs of bad press about?  I understand they're now part of Chase, but not sure.

Sovi

[atlastontheroad]

Countrywide is my mortgage holder as well.  I'll look into this, thanks.

[MidnightVoice]

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Soviyana wrote:

How is it that Equifax is saying two totally opposite things? 

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http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=9508&view=by_date_asc...

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MidnightVoice wrote:

Good stuff from my EQ report - What’s helping your FICO score

You have an established credit history.

Your oldest account was opened 20 years ago

Most FICO High Achievers opened their oldest account 19 years ago, on average.

Average age of your accounts 8 years

Most FICO High Achievers have an average age of accounts between 6 and 12 years

Bad stuff from DW's EQ report - What’s hurting your FICO score

You have a short credit history.

Your oldest account was opened 20 years ago

Most FICO High Achievers  opened their oldest account 19 years ago, on average.

Average age of your accounts 8 years

Most FICO High Achievers have an average age of accounts between 6 and 12 years

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