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ShoogarBear
07-06-2007, 12:30 PM
What the frack is the deal with these guys? I get something in the mail from them at least 3 times a week. For someone who hates junk mail, they are the Anti-Christ.

They should change their slogan to "What's In Your Mailbox?"

Johnny_Blaze_47
07-06-2007, 12:38 PM
Just screw up your credit and declare bankruptcy.

That'll end the credit card offers.

PM5K
07-06-2007, 12:44 PM
Or opt-out...

tsb2000
07-06-2007, 01:02 PM
1-888-5OPT-OUT. Call that number to get rid of all those offers. Plus, when companies can see your credit scores via pulling your credit, it lowers your FICO score.

tsb2000
07-06-2007, 01:03 PM
www.creditboards.com

2nd best website on the net. :nerd

Flea
07-06-2007, 01:13 PM
Capitol one loves me too. I must get several a week.

BacktoBasics
07-06-2007, 01:22 PM
1-888-5OPT-OUT. Call that number to get rid of all those offers. Plus, when companies can see your credit scores via pulling your credit, it lowers your FICO score.Those are just preaprovals based a lot of factors. They don't always have access to your credit report.

tsb2000
07-06-2007, 02:28 PM
Those are just preaprovals based a lot of factors. They don't always have access to your credit report.

True, but opting out makes sure nobody can see your scores, because a credit pull lowers your score. :king

ShoogarBear
07-06-2007, 02:36 PM
They lower your score just by looking at it?

duncan228
07-06-2007, 02:50 PM
They lower your score just by looking at it?

The more inquiries on your credit make it seem like you're over-extending.

I don't know if it actually lowers your score but I do know too many inquiries is a bad thing.

BacktoBasics
07-06-2007, 02:54 PM
Yes, an inquiry will lower your score and not 1 point like people think. Depending on the type of inquiry you score can drop 2-6 points and recovery time differs depending on various factors. Anything over 8 inquiries a year is considered excessive and can hurt you further.

This is why its a million times better to use your own bank to secure loans for vehicles, boats, RVs and so forth. I can't even begin to tell how many times I've had a competitor(dickhead salesman) get ahold of a customer with great credit only to shop them to 20 different banks lowering their score enough to make it nearly impossible for this person to buy from anyone else. Oldest salesman trick in the book. Its called shotgunning someones credit.

Happens a lot in the auto business. Lost of finance guys will do this if you are warm to the car but are definately not buying right then and there. This way over the next month or so no one could even get close to the initial rate you were offered there and if the car happens to sell the approval is still good and can be applied to a like vehicle.

This is what I mean when I say people are ignorant and don't listen. I try to teach people this shit everyday and it never fails time and time again people hand out their info to just anyone who asks for it.

dougp
07-06-2007, 03:01 PM
Here you go, b2b - figured you'd want this.

http://img514.imageshack.us/img514/6343/b2b420cm6.jpg

ShoogarBear
07-06-2007, 03:04 PM
Holy crap. Most useful information I've gotten all year.

PM5K
07-06-2007, 03:08 PM
Umm, there is a difference between a soft and hard inquiry...

ShoogarBear
07-06-2007, 03:09 PM
Credit Viagra?

PM5K
07-06-2007, 03:13 PM
Credit Viagra?

Exactly...

BacktoBasics
07-06-2007, 03:26 PM
Umm, there is a difference between a soft and hard inquiry...There is and that is exactly what I mean.

Checking your own credit won't hurt you. I pay the 15 bucks a month and get all three reports plus scores. Its worth it.

BacktoBasics
07-06-2007, 03:27 PM
Here you go, b2b - figured you'd want this.

http://img514.imageshack.us/img514/6343/b2b420cm6.jpgThat made me chuckle....thanks.

tsb2000
07-06-2007, 04:35 PM
There is and that is exactly what I mean.

Checking your own credit won't hurt you. I pay the 15 bucks a month and get all three reports plus scores. Its worth it.

I do too. People wouldn't believe the garbage that is incorrect / inaccurate on their credit reports.

tsb2000
07-06-2007, 04:38 PM
Holy crap. Most useful information I've gotten all year.

There's a lot of places to get a free credit report online. Everyone, by law, can check it once free per year. Either way, checking out your own report is always worth the $15/each. There are three main reports, and depending on who is checking what, they can and often do report different things for the exact same tradelines.

:)

duncan228
07-06-2007, 04:44 PM
There's a lot of places to get a free credit report online. Everyone, by law, can check it once free per year. Either way, checking out your own report is always worth the $15/each. There are three main reports, and depending on who is checking what, they can and often do report different things for the exact same tradelines.

:)

Does it matter where you live in the country?

I know about the 3 main reports but someone recently told me that some cover East, some West.

I'd never heard that before, I thought they were all National.

Anyone know?

PM5K
07-06-2007, 05:23 PM
Does it matter where you live in the country?

I know about the 3 main reports but someone recently told me that some cover East, some West.

I'd never heard that before, I thought they were all National.

Anyone know?

Does't work that way..

ObiwanGinobili
07-06-2007, 05:32 PM
Does it matter where you live in the country?

I know about the 3 main reports but someone recently told me that some cover East, some West.

I'd never heard that before, I thought they were all National.

Anyone know?


they are ALL national, but in some places you will find that 1 is favored by creditors over the other 2. They report to that one more often, adn they pull from that one most of the time. I know alot of palces around here will mostly use Equifax - but thats not 100% and you never know which one they will pull. So it;s best to keep up wiht all of your reports at all 3 agencies.
However when you make a major purchase (house) they will defiantly be pulling all 3 reports.

duncan228
07-06-2007, 06:07 PM
Thanks Obiwan!

SpursWoman
07-06-2007, 06:21 PM
Oldest salesman trick in the book. Its called shotgunning someones credit.

Fortunately, though, if all of the inquires are from a certain type of lender ... primarily auto & mortgage lenders, in a relatively small time frame, it's very simple to call/write the credit agencies and have them removed, under the premise that you shouldn't be penalized for shopping around...especially for a major purchase. I had to get a bunch of them removed from when we were shopping for mortgages.

ShoogarBear
07-06-2007, 06:26 PM
I had always heard it was the hardest thing in the world to get mistakes corrected on your credit record. Comments here seem to indicate it's not.

SpursWoman
07-06-2007, 06:33 PM
Didn't take very long to get the inquiries removed. I doubt it'd be that simple to have a bankruptcy removed just for writing (:lol) ... but inquiries when it's obvious you're shopping for the best rate is a no-brainer. The loan officer who we ended up going with was the one who informed me of this. :)

tsb2000
07-06-2007, 09:05 PM
I had always heard it was the hardest thing in the world to get mistakes corrected on your credit record. Comments here seem to indicate it's not.

It's not really hard, but it does take patience. The internet helps, but many prefer to keep it "oldschool" and write the letters by hand and send them certified mail. :spin

tsb2000
07-06-2007, 09:06 PM
Didn't take very long to get the inquiries removed. I doubt it'd be that simple to have a bankruptcy removed just for writing (:lol) ... but inquiries when it's obvious you're shopping for the best rate is a no-brainer. The loan officer who we ended up going with was the one who informed me of this. :)

Correct. Inquiries within a day or two, like shopping for a car or mortgage, are usually without penalty. I have heard horror stories of people having 20-30 inquiries from overzealous sales managers, though, which gives the FICO scores a huge ding.

tsb2000
07-06-2007, 09:07 PM
Does it matter where you live in the country?

I know about the 3 main reports but someone recently told me that some cover East, some West.

I'd never heard that before, I thought they were all National.

Anyone know?

No, all three reports are national, like Obi said, but some industries have preferences.

BacktoBasics
07-09-2007, 01:42 PM
Fortunately, though, if all of the inquires are from a certain type of lender ... primarily auto & mortgage lenders, in a relatively small time frame, it's very simple to call/write the credit agencies and have them removed, under the premise that you shouldn't be penalized for shopping around...especially for a major purchase. I had to get a bunch of them removed from when we were shopping for mortgages.Thats true I write all the time and simply put that I didn't athorized them to shop me to those banks and so forth. But keep in mind that it can take up to 30 days to have something removed. Not to mention most people pull their reports before shopping if at all. Not in the middle of shopping to see if someone shopped you to death. Most people going to buy a car do it within two weeks so damage can easily be done.

The simplist thing to do is to just go to your own bank and get the loan.

BacktoBasics
07-09-2007, 01:48 PM
I had always heard it was the hardest thing in the world to get mistakes corrected on your credit record. Comments here seem to indicate it's not.The law states within 30 or 45 days inaccurate info must be removed. Although sometimes it doesn't happen. I had a hell of a time getting a wrong address removed from my report because I have a commmon name. I also had a hell of a time getting a overdue power bill from LA removed because of the common name. They kept coming back and telling me they verified it was me. Then at one point they had the wrong SSN in my TransUnion. Take a guess at how fucked up that became. Its only 15 bucks for all three reports and you just pay it monthly. Highly worth it.

I've learned a lot just repairing my credit and by working in finance and sales. I know an aweful lot of tricks if you want to try to get something removed. Its never as simple as just paying the bad debt off. A zero balance chargeoff that you paid will still hurt you.

Mixability
07-10-2007, 05:23 PM
A little late, but thanks. I had totally ignored my credit info, even though I'll be house hunting in about a year. I pulled my credit report and I had alot of accounts that had been paid in full and closed, but were still shown as open accounts, so they are now under investigation to get those changed to "closed". Thanks for all the info in this thread.