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Talking of credit...
Going through an issue now which adversely affected my credit. Long story short, the card company placed an erroneous negative report on my credit report and it has been hell getting it set right. At least I now have a letter from the card company admitting that it was in error and that they have requested the credit reporting agencies remove the report. If that hasn't happened within 30 days I'll manually dispute the notices on each of the 3 credit agencies. Someone else's mistake became my problem. On top of which, the card company then tried to extort late fees and other penalties which it took a while and several phone calls to get them to cancel. I paid them once it all came to light so as not to inflame the situation so now have a credit with this card!
Anyway, the real point I'm trying to make here is that all of this is out of your control - all you can do is react and, by the time you realize you need to react, the damage has been done. My credit score plummeted - good job I wasn't trying to buy a house or car or apply for credit because it would have cost me.
Once it is done I will cancel the card but they don't really care - I'm just one of millions of suckers. Jaded? You elephanting bet I am. 
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Not just that, if you work in financial services a credit check is part of the job screening process!
Regards,
Rob Philpott.
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Shrink your credit and minimize your interest payments save a lot of money. And you dont pay income taxes on the saved interest.
I also got a stupid bank which cant calculate and doest do its job. Even quitting endures now for 3 months 
Press F1 for help or google it.
Greetings from Germany
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KarstenK wrote: Shrink your credit and minimize your interest payments save a lot of money.
Or better still, pay debt off in full each month which is what I set up!
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Most smart folks do that - they use the CC for the points and protection. Not for actual credit.
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Indeed. 
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Or do what Dame Ramsey teaches, stay out of debt and then your credit score means nothing.
There are two kinds of people in the world: those who can extrapolate from incomplete data.
There are only 10 types of people in the world, those who understand binary and those who don't.
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You mean Dave Ramsey?
RyanDev wrote: stay out of debt and then your credit score means nothing
I agree - I'm not in debt - that wasn't the point. In any case, quite hard to move around in society without a decent credit score - try getting a job these days without them wanting a credit check.
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Well, when buying a house, car etc. you have to go into debt, at least for the house.
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Nish Nishant wrote: have to
Not true. But for a house, often true.
There are two kinds of people in the world: those who can extrapolate from incomplete data.
There are only 10 types of people in the world, those who understand binary and those who don't.
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If one could pay cash for a decent house, they probably wouldn't be posting here.
"the debugger doesn't tell me anything because this code compiles just fine" - random QA comment
"Facebook is where you tell lies to your friends. Twitter is where you tell the truth to strangers." - chriselst
"I don't drink any more... then again, I don't drink any less." - Mike Mullikins uncle
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jeron1 wrote: If one could pay cash for a decent house, they probably wouldn't be posting here.
I agree that over 90% of people get loans to buy a house but I think the mentality that you have to is part of why we have such financial troubles. Ironically, those in this forum probably make good salaries and after saving up for a few years could pay cash for a house. It's just a matter of your priorities.
When I was in Mexico many years ago no one had a mortgage. Everyone had to pay cash. I don't know about the rich Mexicans but the regular people paid cash and often built what they could until they could save more. Credit was not even a thing, except at your corner grocery store or with your neighbor.
There are two kinds of people in the world: those who can extrapolate from incomplete data.
There are only 10 types of people in the world, those who understand binary and those who don't.
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RyanDev wrote: I agree that over 90% of people get loans to buy a house but I think the mentality that you have to is part of why we have such financial troubles.
Surely striving to own a property is a good thing? The notion that you a) get tax relief on the mortgage interest, b) don't have to pay rent and c) accrue equity are the main drivers I would think. Also, there aren't that many places where ordinary Joe's earning the national average could possibly pay cash for a house. Unless you mean Assbum Alabama or Nowhere Nebraska... (I'm sure both states are very nice - I'm just making a point at their expense )
RyanDev wrote: It's just a matter of your priorities.
You mean like raising a family, keeping food on the table, etc., etc. You know, real life.
RyanDev wrote: When I was in Mexico many years ago no one had a mortgage
That's because a) who the elephant would want to live there and b) land costs 5c an acre and it costs $10 and some mud to build a house...
RyanDev wrote: Credit was not even a thing, except at your corner grocery store or with your neighbor.
When I were a lad the only credit was a mortgage and you had to qualify. That meant you had to be customer of good standing; perhaps been with the bank or building society/credit union for a number of years. You had to be seen to be saving. The manager probably knew you by name. Finally, you had to be able to put down at least 10% and be earning 2.5 times the amount of the mortgage (3.5 times if you were a couple with both working).
Very few people of my parents generation even had a bank account and most would have rented somewhere to live.
Times change.
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R. Giskard Reventlov wrote: That's because a) who the elephant would want to live there and b) land costs 5c an acre and it costs $10 and some mud to build a house
There are two kinds of people in the world: those who can extrapolate from incomplete data.
There are only 10 types of people in the world, those who understand binary and those who don't.
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LOL - true
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jeron1 wrote: If one could pay cash for a decent house, they probably wouldn't be posting here.
Good job you said "probably", or I'd prove you wrong.
I wanna be a eunuchs developer! Pass me a bread knife!
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I guess this is the sort of thing where having a credit monitoring service would have helped detect the problem as soon as it happened. Seems in this case you found out 2-3 months after the error?
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That is a good point. However, it takes time for the notice to appear on your credit report. I started to deal with it as soon I knew but it was a sh*t-fest trying to sort it out. Everyone assumes that it is your fault and they do not believe anything you say. What helped was researching on the internet and finding out that I was not the only person this happened to. I suspect there will be an antitrust suit at some point.
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Well, both myFICO and Amex CreditSecure have 24/7 monitoring. They claim that any data changes generate alerts the same day. Not sure how true that would be in practice.
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Nish Nishant wrote: Not sure how true that would be in practice.
Depends which version of windows they use.
I wanna be a eunuchs developer! Pass me a bread knife!
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Nish Nishant wrote: Well, both myFICO and Amex CreditSecure have 24/7 monitoring.
Mine does too. Again, not the issue though I have no way of knowing when the notice was issued and when they let me know. I got emails telling me about a change in my credit report. Ata that point, the fight was on.
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Ah alright. Good luck getting this resolved quickly.
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Out of curiosity, which company services your CC account? I ask so 1.) I know not to do business with them or 2.) I have an account and should now be watching it like a hawk.
if (Object.DividedByZero == true) { Universe.Implode(); }
Meus ratio ex fortis machina. Simplicitatis de formae ac munus. -Foothill, 2016
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Was a dinosaur priest a Velocirector?
Bad command or file name. Bad, bad command! Sit! Stay! Staaaay...
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