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Question I have... What happens when I have no money in your account and use debit Discover Card? Thanks for any response. Second question.. I paid off all three of my credit cards and waited for the balances to be zero. Then I pulled my credit score and it's only 588.. |
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Good question... I dunno what is the right answer to your question. I'll do some investigation and get back to you if I discover an useful answer. You should email the people at Discover Card as they probably could give you an answer..
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Hey how long ago did you pay off those CCs? sometimes it doesnt reflect until a month later, one full billing cycle after you pay it off. Mine took two..
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I paid off my CC's about two months ago...my balances all show zero....
Does that mean my new zero balances haven't yet been reflected in my score or does it take longer for your score to change even tho my CC's show a zero balance?. Equafax shows all my CC's have a zero balance and that's who I pulled my score from.. So, is that my 'true score' or might it go up with more time?. This post has been edited by. Krypto. : 05 December 2009 - 09:14 PM.. |
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How old are your tradelines and whats your avg account age?.
Whats your total credit available? Is it possible that $811 is still maxing. Your Util?. Keep in mind, auto loans are likely to use an auto enhanced FICO that. Probably lends much more weight to previous auto loans.. Improving your "regular" FICO cant hurt, but unless you can. Clean up lates in a previous auto loan, I dont think anything. To do with revolving accounts will help much.. I could be wrong.. This post has been edited by. Sonicanatidae. : 05 December 2009 - 09:47 PM.. |
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My tradelines are about 5 years old..
My average account age is 6 years.. Credit available is $1,700 zero balance on the three CC's.. I don't know how much that $811 is effecting my score, it's under negative and collections. That's my only negative.. My only real debt is my mortgage, which is well within my budget and paid on time for 5 years.. I have never had a car loan. I always have paid cash for my cars. Is this bad?.. |
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The medical bills and the charge off are all hurting your score...
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I didn't think medical bills counted against your score..my mistake.
My medical bills are less then $100.. Should I send them a 'pay for delete' letter? Or just call lthem up and pay them?.. |
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I think you should go to auto forum to ask for help. They should be able to help you. By the way, first time to get auto loan is tough without any prior auto loan history. Your score is too low for aut loan approval..
Ron... |
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I would pay cash again for a car if you possibly could (even a junker) until your credit scores are higher. Otherwise if you can get a loan it'll be 29% or some such ridiculous percentage with your scores. I've had no success with PFD either. The CA I tried it with will not respond. It's frustrating...
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I'm feeling a bit overwhelmed, frustrated by this process..
I get the bad feeling that I'm spinning my wheels, waiting for people to repond when they may never.. Not saying I'm gonna do this but... Is there a decent credit repair service/person out there, or are they mostly rip-offs?.. |
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Everything I've studied in this forum suggests markca and Ron1 are correct, it will be terribly difficult to secure an auto loan with scores below 620..
A good credit union MAY be able to help. I got my auto loan thru a CU the dealership dealt with, EQ Fico 672, rate was 7.5%, not great but what I expected. Really great loan rates only go to those with scores 720++.... maybe 750+ now.... But hey, GOOD LUCK, whatever you do!!.. |
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Go to the MEDICAL forum to see how to deal with the medical bills.....
Who "owns" the CO, the OC or a JDB?.. |
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Who "owns" the CO, the OC or a JDB?.
Not sure if I understand the question (sorry still learning the lingo). I have 2 medical bills they are in collection with :. SYNDICATED OFFICE SYSTEMS. Agency Address: Attn: CRU. PO Box 66051. Anaheim, CA 928166051. And. NCO FINANCIAL SERVICES INC. Agency Address: 4165 E THOUSAND OAKS BLVD #245. WESTLAKE VILLAGE, CA 91362. (800) 668-6702. Should I try a pay for delete letter? They are both less then $100... |
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Krypto -.
I noticed that you've been here since 2003, but have very few posts... There is a lot you can do to work on your credit, but you've got to be consistent for it to work because of the SOL on everything, including violations by CAs and OCs.. 1. You are correct and incorrect that medical bills don't count against your score. They don't count for everything (like car insurance rating) but can count on other types of credit.. 2. An auto dealer will most likely pull an auto-enhanced FICO. I think you said you've never had a car loan before? I believe in auto-enhanced FICOs (Marv can verify), installment loans are given a little more weight than revolving accounts.. 3. The charge-off is putting you on a score card that is most likely the root of your problems with the low score. You need to get it off. Follow the steps here for doing so. Dispute the charge off with the CRA. Write & post your letters here for dealing with this. SEnd everything CMRRR... |
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Don't feel overwhelmed by the process. The first thing to do is read, read, read, read, read, read....read here until your eyes bleed..
Head on over to the medical forum regarding the medical negatives. LOTS of great info there on how you can deal with these to get these off of your reports.. The best thing you can possibly do is doing it yourself....of course that is coming from a board that is a DIY board. There is nothing a credit repair agency can do that you can't do yourself... |
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Did your Discover credit card ever late or past due before paid off? The lender will look at your Discover credit card payment history when you don't have previous auto loan. By the way, your loan history will be higher when you never had any auto loan before..
Ron... |
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Loan history will be higher when you never had any auto loan before..
Sorry you lost me what does that mean?.. |
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The issue is without a previous auto loan, auto loan lenders have no idea.
How well you'll do with long term installment loans.. Since you mentioned paying (with Discover card) in cash, I'm assuming you have a chunk of $. You could throw at a car.. What about going to your local bank/credit union and using the $$$ you have. On hand to partially secure a loan for an auto. Even if they only approve. You for slightly more than you're putting down, it's still building a positive. Tradeline and thats what you need the most, after cleaning your derogs.. My SUV loan was approved in 12/08 with an Auto Enh FICO of 601.. I put $2000 down and got stuck with a 21.5% interest rate.. Luckily, the monthly payments are low enough that I can pay an extra. $150 a month and lower the effective APR to 13%. Still high, but I can. Live with that for now, compared to 21.5%... |
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Sorry,I mean loan rate will be higher. Is your 588 FICO score or FAKO? What bureau did you get from? Did you ever late on your Discover credit card payment?.
Ron.. Ron.. This post has been edited by. Ron1. : 06 December 2009 - 03:40 PM.. |
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I got the 588 from 'score power' in Equifax..
I was late on the Discover credit card payments, but only for the card that is in collection. All my other cc's paid on time... |
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My brother was approved for a $20K auto at 12% from NFCU with a EQ of 570...
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You may need to know TU FICO score. It is because they usually pull more than 1 cra to approve auto loan. How long ago was your Discover credit card late? Do you have still collection on your report?.
Ron.. This post has been edited by. Ron1. : 08 December 2009 - 07:32 PM.. |
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Have you posted this in the medical forum. WhyChat is great at helping..
I was helped to get 10 medicals off my reports and now I've been clean for 2 years... |
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SYNDICATED OFFICE SYSTEMS This is the in-house collection arm of Tenet Healthcare. IOW, the OC still owns the debt..
I had a collection from them on my report. Was able to contact the OC (a hospital) billing department and get them to agree that if I paid them the amount owed, they would request that SOS remove the TL from my reports.. I did and they did.. Hope this helps... |
