Brehs with 700+ credit..

[DeuceZ]

i'll add dont close out older accounts, just pay them off and never use them if need be. some cards will send a notice due to inactivity that if not used in certain time frame they will close the card. I just make small purchase (gas, corner store, etc) and pay it off completely and lock it away again.

Question for the brehs - whats the advantage of paying off a card once purchases made or long before the due date? if card paid off on or just before due date there is still no interest charged or am I missing something?

 

[JoelB]

i'll add dont close out older accounts, just pay them off and never use them if need be. some cards will send a notice due to inactivity that if not used in certain time frame they will close the card. I just make small purchase (gas, corner store, etc) and pay it off completely and lock it away again.

Question for the brehs - whats the advantage of paying off a card once purchases made or long before the due date? if card paid off on or just before due date there is still no interest charged or am I missing something?

some issuers will still close the account down due to inactivty without notice. That happened to me a couple years ago. So if its a card you want to keep long term, put a reminder on your phone to go buy lunch/gas with that card once a quarter so it remains active.

Im not sure i understand your second question. If you pay your balance in full on or before your due date, u will not be charged interest. only when you carry a balance to the next statement

 

[DeuceZ]

some issuers will still close the account down due to inactivty without notice. That happened to me a couple years ago. So if its a card you want to keep long term, put a reminder on your phone to go buy lunch/gas with that card once a quarter so it remains active.

Im not sure i understand your second question. If you pay your balance in full on or before your due date, u will not be charged interest. only when you carry a balance to the next statement

yeah seen some ppl say pay off balance as soon as its posted on card. i typically just wait until monthly statement generated and pay down/off then.

 

[FukYaFeelings]

yeah those are 3rd party debt collection agencies, they arent going to offer Pay For Deletions bc it doesnt benefit them. They just wanna scare u so u pay fast.

in the future you send them a letter stating in exchange for paying (usually start with 30-40% of what they are trying to collect) they will remove the collection from your credit report.

now the collection is probably going to stay on your credit report with a status underneath that says something like 'Paid as agreed' or something.

Thats fine tho, with time it wont impact u as much.

I had a $1200 bill with AT&T I couldn’t pay cuz I got locced up. And a $300 bill on a discover card cuz a payment was returned and they charged it off. Since it was charged off I didn’t know u was still suppose to make payments.

But anyways for both of them they said they were gonna dispute it for me because they said sum shyt was inaccurate.

 

[MarcMan]

They literally use the score to see if you'll pay on time

See if you can get your credit card limit raised, which will lower you utilization rate (assuming you don't put more on the card).

Check your credit to ensure there isn't anything bad that you can get off.

 

[JoelB]

yeah seen some ppl say pay off balance as soon as its posted on card. i typically just wait until monthly statement generated and pay down/off then.

Paying balances down frequently is a good way to keep your utilization down. So thats not a bad habit to get into

for example if you have a $1,000 credit limit, and you spend $700, you are at 70% utilization. That will kill your score. It would be wise to pay that down asap before that utilization gets reported to the credit bureaus.

2 dates to keep in mind

Due Date: Thats when you're supposed to pay. Pay in full is best. Less than and u will carry a balance and pay interest
Statement Cutoff Date: That is the date the credit card issuer snitches your behavior (including your utilization) to the credit bureaus. Make sure to pay down your utilization a few days before that statement date. If you dont know what date that is, call your credit card issuer and ask them. Then call back again because most customer service reps dont know shyt.

 

[JoelB]

I had a $1200 bill with AT&T I couldn’t pay cuz I got locced up. And a $300 bill on a discover card cuz a payment was returned and they charged it off. Since it was charged off I didn’t know u was still suppose to make payments.

But anyways for both of them they said they were gonna dispute it for me because they said sum shyt was inaccurate.

These debt collectors might be doing some new shyt bc i never heard of them saying they will dispute for the consumer. Im gonna look those 2 companies up later and see their business model.

Typically when you're with Discover and you dont pay, after some time they will charge off the account. Thats dead money for them and essentially a tax write off. They will usually send that $300 debt to another company, and thats who is blowing up your phone trying to collect. Its not Discover anymore.

The secret is to send a debt validation letter over to the 3rd party company which says "nikka i dont know you, prove to me I owe what u say i owe in writing". Alot of times these companies cant produce the paperwork so it gets removed from your credit report. Thats what alot credit repair companies charge people for, but u can do it yourself.

70% of every credit report has innacuracies, so even if you technically owe money, if you send the debt validation letter and they cant produce the paperwork on time (usually a document showing that Discover properly sold the debt to XYZ debt collector) it gets removed.

 

[FukYaFeelings]

These debt collectors might be doing some new shyt bc i never heard of them saying they will dispute for the consumer. Im gonna look those 2 companies up later and see their business model.

Typically when you're with Discover and you dont pay, after some time they will charge off the account. Thats dead money for them and essentially a tax write off. They will usually send that $300 debt to another company, and thats who is blowing up your phone trying to collect. Its not Discover anymore.

The secret is to send a debt validation letter over to the 3rd party company which says "nikka i dont know you, prove to me I owe what u say i owe in writing". Alot of times these companies cant produce the paperwork so it gets removed from your credit report. Thats what alot credit repair companies charge people for, but u can do it yourself.

70% of every credit report has innacuracies, so even if you technically owe money, if you send the debt validation letter and they cant produce the paperwork on time (usually a document showing that Discover properly sold the debt to XYZ debt collector) it gets removed.

They also saying I gotta pay em $99 a month while they dispute it smh. They asked me some security questions like picc which address u stayed at, picc which job you worked at. So it seemed legit

Yea I was paying this company in Houston $50 a month to fix my credit. (They tried to do $100 a month but I said dats too much)But after 6 months and no results I decided to try and handle my shyt in collections alone. But it seems like I got finnessed again.

I’m mad cuz dat $300 was a secured card and I neva got my $300 bacc.

I learned on Reddit I can write a goodwill letter for late payments or sum

 

[maxamusa]

LMFAO IM HOWLING



hold this rep breh

 

[FlimFlam]

The deeper you get into the credit game you realize the variety of your credit history holds more weight than just the score itself

Ie favorable home loan , car installment histories etc are more valuable than a higher score ONLY through credit cards

 

[JoelB]

They also saying I gotta pay em $99 a month while they dispute it smh. They asked me some security questions like picc which address u stayed at, picc which job you worked at. So it seemed legit

Yea I was paying this company in Houston $50 a month to fix my credit. (They tried to do $100 a month but I said dats too much)But after 6 months and no results I decided to try and handle my shyt in collections alone. But it seems like I got finnessed again.

I’m mad cuz dat $300 was a secured card and I neva got my $300 bacc.

I learned on Reddit I can write a goodwill letter for late payments or sum

$99/mo? Yeah that sounds like you're dealing with a credit repair company trying to dispute for you.

They just gonna keep sending the same boilerplate template letters every month which something you can do yourself.

Goodwill letters are good if you have an open account with 1 or 2 late payments. It basically says "Hey i been with ya'll for a minute and been a good customer. do me a solid, and remove that late for me bc i made a mistake. it will never happen again". They will remove those lates for you alot of times.

but if its a closed/chargedOff account that Goodwill letter wont do nothing. You will have to send out dispute letters to get it removed.

 

[JoelB]

The deeper you get into the credit game you realize the variety of your credit history holds more weight than just the score itself

Ie favorable home loan , car installment histories etc are more valuable than a higher score ONLY through credit cards

Ding Ding Ding...

Most people are trying to manipulate the 3 digit fico score when you're profile in its entirety is what u have to build.

Quality accounts + Credit Mix + Age

 

[FukYaFeelings]

$99/mo? Yeah that sounds like you're dealing with a credit repair company trying to dispute for you.

They just gonna keep sending the same boilerplate template letters every month which something you can do yourself.

Goodwill letters are good if you have an open account with 1 or 2 late payments. It basically says "Hey i been with ya'll for a minute and been a good customer. do me a solid, and remove that late for me bc i made a mistake. it will never happen again". They will remove those lates for you alot of times.

but if its a closed/chargedOff account that Goodwill letter wont do nothing. You will have to send out dispute letters to get it removed.

Damn breh. I appreciate all the info. I looked a bit on Reddit too. But before this I was just hoping the credit repair company would fix it. And yea the 3rd party debt collectors are basically doing credit repair too.. I wish I could have just settled for less or paid to delete it

Yea my late payments are when they charged off my card. Ian know I was still suppose to make payments on em after it being charged off.

 

[JoelB]

Damn breh. I appreciate all the info. I looked a bit on Reddit too. But before this I was just hoping the credit repair company would fix it. And yea the 3rd party debt collectors are basically doing credit repair too.. I wish I could have just settled for less or paid to delete it

Yea my late payments are when they charged off my card. Ian know I was still suppose to make payments on em after it being charged off.

If it was me, i'd stop paying that credit repair company. They will have you paying month after month for years if u let them. Especially not for only 2 deragatory items. fukk that.

u got 2 collections. The one from AT&T and the Discover one. totalling $1500

go to annualcreditreport.com and pull your full reports for free and look at which companies are trying to collect. Basically you need to cut out the middle man.

1. Find the name of that company and send them that validation letter. If you need one, i'll find one of my old ones and paste it here
2. wait about 30 days and see if you get something back in the mail or check if they removed it from your reports.

Unless you are up against a deadline and need to pay these collections off fast (like if you're about to move to a new place) I would do my strategy instead. It might take a few months, but atleast you arent paying some random company $100 a month to stick a letter in the mail for you.

 

[FukYaFeelings]

If it was me, i'd stop paying that credit repair company. They will have you paying month after month for years if u let them. Especially not for only 2 deragatory items. fukk that.

u got 2 collections. The one from AT&T and the Discover one. totalling $1500

go to annualcreditreport.com and pull your full reports for free and look at which companies are trying to collect. Basically you need to cut out the middle man.

1. Find the name of that company and send them that validation letter. If you need one, i'll find one of my old ones and paste it here
2. wait about 30 days and see if you get something back in the mail or check if they removed it from your reports.

Unless you are up against a deadline and need to pay these collections off fast (like if you're about to move to a new place) I would do my strategy instead. It might take a few months, but atleast you arent paying some random company $100 a month to stick a letter in the mail for you.

Damn some how I need to get my money bacc from the collection agency’s I paid. I paid $578 for the AT&T one and $248 for the discover one. I used a chime account and it’s hard to dispute charges. They haven’t taken out the $99 a month yet dat don’t start till the 3rd.

I’m not on no deadline I’m not tryna make any major purchases just tryna improve it by da time I do.

Yes please send me that validation letter.