SM did a soft inquiry on my TU report back in Oct 2009.  What would the reason for this be?  I have a student loan with them that I always pay on time.  Why are they doing soft pulls? ... View more

When I pulled my credit score via MyFico my TU looks as though it's reporting Amex twice.  It's listed twice in the accounts, along with the balance.  All information is matching each other.  Could this be bringing my score down?  It's currently 703, while my EQ is 714 (It is only listed once for EQ). I have no other Amex account and none of my other accounts are doing this. ... View more

I have a Discover Open Road card, which paid off and will only be using it for utilities as the interest rate was raised to 19.99% and I will be paying it off monthly.  I previously had a balance of $900 and the minimum payment of $40.  I paid it off last month and this month the balance is $100 with a minimum payment of $40.   Kind of strange.  Like I said, I am paying it off in full anyway, but I couldn't find anywhere in my terms that they were raising the percentage for minimum payments.  I just want to understand how my card works if by chance I ever had to carry a balance.   Thanks for the help!   Tiana ... View more

I wrote this in another thread, but didn't get a response.  I'm still interested to see if anybody has any insight.   I apologize for my confusion, but why would an underwrite give the applicant "points" for deferring their student loans, when they'll only have to begin payment on them anyway.  I have faithfully paid my student loans on time (and every other bill), every month since graduation (5 years ago), but since it increases my DTI, it effects me.  Do underwriters usually take the payment history into consideration?   My student loans aren't going anywhere for 15 years (hopefully sooner), so I don't know why postponing payments should be rewarded and somebody given a mortgage. I pay $275/mo on a $46K salary, so what's the difference if it affects me now or later by deferring them? ... View more

How much does having a good credit score influence getting a mortgage loan, even if you have a high DTI?   I'm not getting a mortgage now, but I'm just doing my research and trying to get my ducks in a row before I do so.  Currently I have a lot of debt and I've been working dligently to pay it dow.  In a couple of months I've paid of $7K of debt   I am putting money aside for a down payment and paying extra on my debt to accelerate the process, but I just wanted to know what the lenders look at.  My credit score was lower than usual when I last checked at 714 TU and 703, but it's usually around 730 (and will probably go up b/c the extra debt I just paid off).  I have a car loan, personal loan and credit card debt.  I've never paid a bill late.   Thanks everyone.  These forums are wonderful and have really helped me focus on bigger and better things! :) ... View more

Citi just raised my interest again for no reason.  About a year ago it went from 12.99 up to 19.99%.  I called and they reduced it to 13.49%.  Now it's back up to 17.49%.  I've always paid on time and have a good credit history.  They're my oldest card (6 years) and highest limit (13,500), so I'd rather not close the card (I'm 26).   Do you think they'll lower it again?  Why do they keep doing this? Message Edited by tianapb725 on 02-03-2010 09:52 PM ... View more

I'm 26 and on my way to paying off my debt.  A few months ago I was on the forums discussing ways to pay off my debt and I believe I'm going to use my 401k to pay off the debt I accumulated in college.   Once that is done, I will immediately start saving for a condo in my area.  The condo I'm looking at is priced at $158k.   My credit score is good at 730 and I can only imagine that once my debt is paid off that it will only go up.  What credit score do I need to get approved for a loan with zero or little downpayment?   The only other debt I would have left is my vehicle at $445/monthly, student loans at $300/monthly, and a personal loan at $175/monthly.  The personal loan and vehicle will be paid off in 4 years.   I make $45k/year and have been at my job for 3 years.   Thanks everyone - these forums are great and I learn a lot! ... View more

I apologize if this isn't meant for this forum.   I'm 26 years old and currently have $10k in credit card debt.  The majority was accumulated while I was in college and right after (I know it's bad, but I can't change it now).  I feel as though I'm never going to get this debt paid off.  I have $15K in my 401k plan and was wondering if anybody had any advice because I've been considering withdrawing the funds to pay off the debt.  I've normally been able to keep it under control, but since the new credit card laws went into effect, my minimum payments have increased (I always paid more anyway) and also most of my interest rates have increased.  I am already freelancing and putting that money into a savings/emergency fund and putting it towards the debt, but estimates say that the debt won't be paid off for another 6 years.  I would like to start saving to eventually buy a condo/house in the future (certainly not anytime soon).  I do not have problems paying the debt and have never missed a payment (730 score).  I also currently max out my 401k at 6% with a company match of the full 6%.   I'm aware of the penalties involved.  It will not bump me into a new tax bracket.   I'd really appreciate the feedback or hear if anybody's done this.  I like these forums because people don't pass judgement. ... View more

I just want to say how much I love these forums and the excellent advice everyone gives!  I'm 25, so I am trying to get my ducks in a row for future large purchases!   I was also one of the ones who received a notice from Chase stating my APR was increasing.  It went from a fixed rate of 8.99% up to a Variable 15.99%!  Needless to say, I wasn't happy.  I've never been late on this card, nor any other cards.  After calling Chase multiple times, the only option that was given to me was to close the card to lock in my old rate.  I'd just hate to close a card that I've had for four years now with a good history and a credit line of $7K.   My dilemma is that I just transferred a balance to the card of $2K for an interest rate of 5.99% for the life of the balance.  I originally had a balance of $1K on the card.  While I know the best thing is to pay off the card as a whole, that's just not an option for me right now.  The entire experience has left a bad taste and I'm angry that I just brought Chase my business and they turned around and upped my rate.  And whatever payments I make will go to the lower rate first.   Is it best to just leave it be at that rate or transfer the entire $3K balance to another card?  That 3% transfer rate is just annoying to deal with considering I just paid it to Chase!   Thanks for the help! ... View more

Can anyone explain Amex's protection policy to me in normal terms lol and how well it works.  Unfortunately, I had an item shipped to me and I believe it was stolen when it was left for me in front of my building.  Is this something that Amex covers?  I did get insurance on the item, but since the post office said it was delivered, I don't think they'll do much :-(  Has a situation like this happened to anybody and what was the outcome?   Thanks for your help and have a great holiday weekend! :)   **Sorry I have an Amex Blue** Message Edited by tianapb725 on 08-29-2008 07:12 PM ... View more