Default User wrote:

- quote -

I don't think this is true. I think that a person's credit history is
pulled each time a score request is made. I can't find the reference
now to where I read that, so I might just be making it up...

-Will

Mark Bole wrote on [Sat, 29 Sep 2007 15:25:52 -0500]:
- quote -

What's to stop them pulling a soft request? Like the credit card
companies do? I see requests from strange places crop up from time to
time under marketing or soft pulls.


- quote -

It really depends on the employer and industry. Several IT consulting
firms I have worked for have asked for permission to check credit.

Elizabeth Richardson wrote:

- quote -

However, they don't need to do a credit check to get your FICO
score(s). That's separate from your credit report(s). FICO already has
the information from the credit companies, which they use to put
together the scores. There's also a new FICO product, called the
"insurance score".

<http://triceiver.com/Insurance_Score_PartI.aspx


Brian

--
If televison's a babysitter, the Internet is a drunk librarian who
won't shut up.
-- Dorothy Gambrell (http://catandgirl.com)

"Mark Bole" <makbo[at]pacbell.net> wrote in message
news:dQxLi.942$ih1.574[at]nlpi068.nbdc.sbc.com...
- quote -

Yeah, I thought this was worth ignoring. My insurance gets renewed every 6
months, but I'm pretty sure they have never checked my credit report. I've
been doing business with them for 30 years. Also, no employer will ever
check my credit report. No employer, present or future.

Elizabeth Richardson

Usenet2007[at]THE-DOMAIN-IN.SIG wrote:

- quote -

It's better to keep the card open by using it once or twice a year and
keeping the number locked away the rest of the time. That way no one
dumps anyone, it's more like a "friends with benefits" relationship.

-Mark Bole

Justin wrote:

- quote -

My insurance (auto) gets renewed every six months. They only checked my
credit report once, when my agent switched insurers a while back. If
they were checking at every renewal it would show up as repeated
inquiries on my credit report. This all might be subject to various
state regulations, I'm not sure.

- quote -

And unfortunately, unlike when you get turned down for credit, I don't
think they have to tell you they rejected you based on credit report.
On the other hand, I suspect it's primarily financial industry jobs that
might require this, they certainly should need your permission in
advance to check your report, so at least you know about it.

-Mark Bole

Usenet2007[at]THE-DOMAIN-IN.SIG wrote on [Sat, 22 Sep 2007 08:51:30 -0500]:
- quote -

I know Australian credit cards have a grace period, assuming the prior
months bill was paid in full, I'd assume an enzed card would also. What
that means is that if you pay in full you don't get charged any
interest.

In article <yKOdnaTQFIVzCXPbnZ2dnUVZ_uuqnZ2d[at]comcast.com> , cal-
lester[at]comcast.net says...

- quote -


Yeah, it is our patriotic duty. Although the actual benefit can
work oddly, depending on the specifics.

If I carry a balance on my NZ based credit card... the profits go
to an Australian based bank holding corporation. Oh well, at
least my interest payment is contributing to somebody's economy.
And I am sure that they feel good about that.


--
Earn Money With Your Web Site
http://www.WebSponsorZone.Net
Web Site Advertising Directory

In article
<1190273474.331746.67740[at]v23g2000prn.googlegroups.com> ,
uw_badgers[at]email.com says...
- quote -


- quote -


It is like a romantic relationship. When judging personal
coolness... is it better to be the one who got dumped, for
your inadequacy? Or is it better to be the one who pro-actively
dumped that loser who wasn't worthy of you?

Like it or not, it is perceived the same way on credit reports.


--
Get Credit Where Credit Is Due
http://www.cardreport.com/
Credit Tools, Reference, and Forum

Elizabeth Richardson wrote on [Thu, 20 Sep 2007 16:53:14 -0500]:
- quote -

Insurance rates and FICO aren't only linked when you initially get the
insurance. Your insurance gets renewed every year.

There's also employers looking over credit reports and FICO.

Not planning on taking on a lease for a house or apt anytime soon?


- quote -

You can probably count the number of institutions like this on two hands
these days.

"Justin" <nospam[at]insightbb.com> wrote in message
news:slrnff5cgh.f8g.nospam[at]debian.dns2go.com...
- quote -

This amazes me. I haven't a clue what my FICO score is, but I doubt it has
any affect on anything I do. I did happen to get a new credit card last
February, with more credit than I need, so I guess my score is OK. Now what
else? Insurance? I'm not changing insurance companies, chasing around a few
dollars here or there. If my husband I decide to borrow money (for what, I
can't imagine), we'll just go to our credit union where we've done business
for years and where they know us and we'll get the best rates they offer.
But, really, I'm not playing anybody's little game.

Elizabeth Richardson

Justin wrote:
- quote -

I'll repeat a post from January;
From the PBS show Frontline's "Secret History of the Credit Card" we have;

35% payment history
30% amounts owed
15% length of credit history
10% new credit
10% types of credit used

Now, keep in mind, the 'amount owed' is not just the dollars involved,
it's percent available credit on the average of your accounts.
Since 15% is the length of credit history, there's some value to keeping
older cards active, but the formula for the actual score is not public.

If a large enough group of people were willing to pay for score
retrieval, and sign up for new accounts, and cancel other accounts in a
methodical process, we'd have an answer to the specific impact.
I just accepted a zero % CC deal and put the $20K in the bank for 6
months. I will gross $450 (these was a $50 transfer fee) and net less,
of course. Now, having no need to refinance my mortgage, and no other
FICO-related concerns, I still wonder what my pre-advance score looked
like, what it is now, and how it will bounce back after the payoff in
April 08.

Also, worth repeating, FICO score does not take income into account. So
there was a time when I was young and stupid, had a great FICO score,
but when it was loan time, got rejected due to an insane debt to income
ratio.

JOE

Douglas Johnson wrote on [Thu, 20 Sep 2007 09:47:30 -0500]:
- quote -

Yes, it's about optimising credit scores. 2 accounts is a very thin
credit file and will give you a lower FICO than one with 4. Average age
and total utilisation is important as well.

- quote -

Even if you pay in full every month, most card issuers report the
statement balance as the utilisation of the card. So, a $1000 card with
$900 on the statement shows a very high utlisation, even if you pay in
full every month.

- quote -

Cards with no charges won't get a statement.

Total credit utilisation as a percentage of total availability is also
taken into account.

FICO and credit reports are becoming more important every day, so
playing their game a little can't hurt you.

- quote -

good point!

I just always get asked to take out a credit card when
buying something at a retail store...such as Dicks
sporting goods. They will give you good discounts on
merchandise for taking their card

- quote -


good question!

what's the consensus?

Justin <nospam[at]insightbb.com> wrote:

- quote -

But why? Are we just gaming our credit scores? If we just do the basics, like
making payments on time and keeping balances low, we'll have a score that's high
enough to get any loan we can qualify for at the best available rates.

In my opinion, the ideal situation is to have two credit cards from two
different providers (just in case one card is refused at an inconvenient time)
and always, always, always pay them both off every month.

More cards is more risk of unauthorized charges and more hassle with more
statements. I know these are small things, but who needs it?

-- Doug

Bucky wrote on [Thu, 20 Sep 2007 04:05:21 -0500]:
- quote -

Yeah, there is that. You can always buy gas or a burger or something
once a year on the card and keep it active.

On Sep 17, 7:52 am, Justin <nos...[at]insightbb.com> wrote:
- quote -

Except that some credit cards will cancel your account if you don't
use it. Citibank did that to me for a card that I hadn't used for a
few years. So the question is: is it better to close your own card? Or
have it closed on you?

me[at]privacy.net wrote:

- quote -

You should get the card in the mail (assuming you gave accurate
information on the application.)

I had a friend that would habitually fill out credit app. forms to get
discounts and free gifts. He would, however, never put accurate
information on the form.

me[at]privacy.net writes:

- quote -

Well, you'd use it at least the once - for that initial
purchase. Supposing you paid it in full and then never
used it again, you'd probably get a statement with the
zero balance (showing your payment) and almost certainly
one statement a year.

In my experience, when I have no activity (not
necessarily a zero balance - because there's a
zero balance on the month you pay if off, but
there is activity - the crediting of the payment!),
I don't get statements from credit cards.

At a minimum, they need to mail you a privacy statement
once per year, by federal law. I'm pretty sure they
have some obligation to contact you at least once a
year about your account anyway. Anyone know the
actual rules?

(You should be getting yourself a copy of your
credit report at least once a year and making sure
that all the accounts considered "open" really should be!)



--
Plain Bread alone for e-mail, thanks. The rest gets trashed.
No HTML in E-Mail! -- http://www.expita.com/nomime.html
Are you posting responses that are easy for others to follow?
http://www.greenend.org.uk/rjk/2000/06/14/quoting