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since
04-30-2008
06-23-2019
tianapb725
Regular Contributor
131
Posts
2
Kudos
04-23-2010
05:09 PM
Thankfully I've only had one CCC credit line decrease me (juniper), but now Chase has done it to me. I've been paying off the balance I have with them, currently $4000, that had a line of $700, but now that the balance has been paid below $4000 (currently $3900), they lowered the line to $4300! Ouch!! Chase initially changed my APR from 8.99%F to 15.99%V and I cannot wait until this balance is paid off. With a credit score of over 700 this is extremely frustrating, but I guess I have to just keep chipping away and finally get this balance paid off!
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03-18-2010
03:51 PM
I've had an amex card for about 3 1/2 years and have a 10K limit. I use it often and pay in full almost every month. I rarely carry a balance with them. I like their rewards program and it's simple...a dollar = a point. Their protection services are really good too. I had an item stolen at doorstep in my apartment and they credited the purchase...It was a small item only $45, but I was grateful that they did that.
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03-18-2010
04:35 AM
Nope all reasons are the same: What’s hurting your FICO® score You've made heavy use of your available revolving credit. You have too many credit accounts with balances. You have too many credit accounts. What’s helping your FICO® score You have no missed payments on your credit accounts. You have an established credit history. You've shown recent use of credit cards. I went from having 7 cards reporting balances to 4. Oh well, guess I'll just have to wait a few months and continue paying down debt and hope that my scores rebound in the way I was hoping!
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03-17-2010
03:56 PM
Yes, my scores were pulled from myfico and all of the new balances are now reported on this new report. All of my accounts are paid as agreed and I've never paid a bill late and have no derogs. Everything is virtually the same, nothing has fallen off as I only have a credit history that is 8 years old. The only thing I could think of is that is on my Transunion report there were 2 Amex balances reporting even though I only have one account. It was adding to utlization and having another account. I called Amex and they removed it. Utilization was at 33% in January, now at 28%. Maybe having the "other account" removed from Transuion inadvertently affected me? I just feel like it went completely in the opposite direction that it should have, especially EQ.
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03-17-2010
02:28 PM
So I paid off $4.5K in credit cards back in January. It paid off 3 cards completely. When I pulled my scores today my scores have dropped and I don't understand why - I thought they would have gone up! You can see my previous scores in my signature. Today's scores: 706TU 689EQ Both scores were above 700 when I checked them in January. I haven't applied for any credit and no other balances have increased. Shouldn't they have gone up (a noticeable amount)?
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03-14-2010
02:18 PM
I believe it also depends on the state as well. I live in MA and MassHousing is allowing borrowers to use it as part of their downpayment.
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03-14-2010
02:16 PM
Juniper decreased my credit line from $3000 to $1300 after jacking my rate from fixed 7.99% to variable 12.99%. I called to see why they decreased my limit as I've never been late and have always paid my bills on time (including all of my other cards)...they told me b/c the debt I had on other cards they lowered my limit. Not happy with them!
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03-14-2010
07:01 AM
They definitely have the highest interest rate, but they run really good promos. Right now it's 18 months no interest, when I bought my TV, it was 24 months. I did however just pay off my BB Card, which had a balance of $2500 and it was such a great feeling!
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03-12-2010
09:26 AM
Definitely call the company and see what they can do. They may or may not have a value plan for international rates and in most cases, they are willing to work with you. I believe they also have a financial services department where you can set up a payment arrangement to avoid the phones being turned off for non-payment. Most companies are willing to work with their companies, but definitely be polite to the representative. You attract more bees with honey
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03-12-2010
06:32 AM
I also have a substantial amount of student loan debt, approximately 50K. I graduated 5 years ago and I pay on time and have never missed a payment. It hasn't damaged my credit score - it's my credit card debt that is hurting it (I have a score above 700). One thing you have to be careful about with student loans however, is that many student loans are distributed at different times throughout your schooling, so you may make one single payment, but technically have 8 student loans (one loan per semester). If you miss one payment, you then have 8 late payments, which makes a hugeeee difference. Thankfully I consolidated all of my private student loans (had 3 originally) into one and then my federal student loans, so listed, I only have 2 student loans technically.
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03-11-2010
05:52 PM
I have close $45K in student loan debt. I will make $48K this year. I'm 26 years old. I actually don't do anything in my field, but my current employer required a degree before even getting a job with them, so to me it was well worth it. Sure, it's annoying to pay it back, but I feel that I spent $10K a year on college was well worth it (not only financially, but life lessons and lifelong friendships).
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03-11-2010
05:47 PM
It's nice of you to be so sympathetic of their feelings, but it would bother me too if the tax credit would be lost because they don't want to vacate the premises. Not to sound insensitve, but they knew this day was coming and you shouldn't have to forfeit your benefits because of them. It's awful what's happening to them, so I hope this doesn't make me sound like a horrible person because I certainly feel bad for them.
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03-09-2010
07:37 PM
I have a Discover Open Road card which was opened in 10/07. I received an initial credit limit of $3,100. Some other posters have said they they've received credit limit increases like clock work with Discover, however, I have had just the opposite - I just got my first CLI with them last month that went to $3,700 (even though I've PIF almost every month and never been late). I would imagine that if you started with a lower limit, it will probably increase at a faster rate than mine provided you have a good history with them.
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03-09-2010
09:21 AM
I pulled my scores in January and then paid off three credit cards, which totaled $4.5K. I am eager to see what the score is, but in the same sense, don't want to spend the money on them quite yet as I'm not finished paying off my debt and I'm not getting a mortgage just yet. I may just save my money and check every quarter as my debt gets paid down. I'm above 700 now and would like to be at least at 750 when I'm ready to apply for a mortgage in about a year.
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03-09-2010
07:52 AM
Good luck! I too am working on paying off my debt so I can hopefully in the near future get a mortgage! These forums are definitely motivating and provide a lot of great advice!
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03-09-2010
06:24 AM
Just wondering - How often does everyone here check their credit score? I'm not seeking any new credit, but eventually want to get a mortgage (in about a year) and I want to get my credit score above the top tier so I get the best interest rate.
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03-07-2010
05:33 AM
Thanks for everyone for their advice! I currently don't have anything saved for a downpayment (I am using 10K from my 401K, but I am going to have additional savings from that once this debt is paid off). I used what I had saved for the downpayment and put it towards debt, which was 4.5K, so basically I'm starting over. Here are the debt balances: Personal loan: $5,400 APR 13.49% Student loans: $48,418 APR One is 5.25%, the other is 2.625% Auto loan: $23K APR 6.99% I hope that once the cards are paid off, I will go to the 740+ range and be able to have some wiggle room. I'm certainly not going to rush anything, hence why I used my downpayment to put towards debt. I just want to have a gameplan when I am actually ready to apply. Many thanks for the help!
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03-06-2010
01:09 PM
I'm trying to arrange my finances so I can hopefully apply for a mortgage next year (and a half if need be). The money I would be putting away for a downpayment is $500 a month (sometimes $750, but the extra $250 I will keep as an emergency fund). I want to pay off debt, but strategically I'd like to allocate it so it lowers my DTI the fastest. Here is the info (balance/limit/minimum mo pmt): Chase: $4067/$7K/$83 Citi: $5659/13.5K/$136 BoA: $2775/$7K/$49 Personal loan: $173/mo - scheduled payoff date: 05/15/2013 Auto loan: $444/mo - scheduled payoff date: 05/30/2015 Student loan: $275/mo - never ending! Haha kidding, they will all end in 15 years, 2025. Currently my DTI sits at 55% if I were to get a mortgage that would cost me $1100/mo. I currently make $46/yr. As much as I want to pay off off the credit card debt, my initial thought was to use the $500/mo towards the auto loan as that is a big part of my DTI, then I could refinance in a year to lower the monthly payments. The advice you all give is great and I appreciate your feedback!
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03-03-2010
06:07 PM
When I got my first apartment which was just under two years ago, I was upfront with the property manager. I explained to them that it was my first apartment, but I had good credit. Her response to me was, "Well you have to start somewhere." If you're working on your credit, I would just be honest with them before they look at your report.
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03-01-2010
09:27 AM
I'm working on getting my FICO to 750 before applying for a mortgage so I can get the best rate and also paying down credit card debt (which I know they coincide). To improve my FICO score, is it best to pay down EACH card to 10% or lower or is it calculated overall? Does a mortgage lender look at it from both angles in addition to DTI or do they only care about DTI? I have 3 cards that on average 40% utilization amongst those 3, but overall I have 23% utilization.
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02-28-2010
05:16 PM
Juniper/Barclays 12.99% (used to be 8.99% before all of the CCC crazy rate increases!)
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02-28-2010
11:49 AM
My Chase card statement said that if I only paid the minimum ($81 on a $4000 balance 15.24% interest rate) it would be paid off in 25 years!! By paying $143 a month it would be paid in 3 years! Good thing I pay $150 each month and will have the balance paid off at the end of July. I find this information very helpful on the new statements, but somewhat sad when it puts in perspective the amount of debt I have :(
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02-26-2010
10:55 AM
Thanks! I was very happy! It probably helped that I paid off the $900 balance I was carrying (the first time in the 2 1/2 yrs I've had the card) and then just paid the new balance on this statement in full. You get rewarded for good behavior (well sometimes anyway )
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02-26-2010
03:52 AM
After a few of my own posts expressing my frustration that I've never received a CL increase from Discover after having an account for almost 2 1/2 yrs, I logged on this morning and saw that they auto increased my CL from $3,100 to $3700! Not much, but I'll take it!
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02-23-2010
07:51 PM
Don't feel bad...I've had the card for over 2 yrs and never received a CL increase. It started at $3100 and it has stayed at $3100. I use the card frequently and have only carried a balance 3 months out of the entire time I've had it, but yet no increase. I haven't been pushing the increases much as I don't want it to "bring attention" and only have them decrease it as I'm not using the entire amount that's given to me (if that makes sense).
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02-22-2010
07:44 PM
I see them frequently from Chase/Amex/Barclays, but have never seen it from Sallie Mae before. Just thought it was odd since they're a student loan financer and I haven't asked anything from them.
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