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Discussion in 'The Lounge' started by Toshi, Dec 5, 2005.

  1. Toshi

    Toshi Harbinger of Doom

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    http://www.annualcreditreport.com

    get yer free annual credit reports there. no joke. here is a news article mentioning it: http://www.kansascity.com/mld/kansascity/news/consumer_news/13304838.htm

    and whether you have good credit or bad it pays to check and read the reports: 2 of the 3 agencies seemed to think i had a credit card through a bank i've never done business with. (there must be some other Toshi out there... at least he pays his bill each month.)

    http://www.annualcreditreport.com
     
    #1 -   Dec 5, 2005

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  2. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    Nice thing about this is you can get your report from each agency once a year. So basically you can get your report every 4 months for free.

    I do.
     
    #2 -   Dec 5, 2005
  3. binary visions

    binary visions The voice of reason

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    Yeah, laws went into effect regarding this a little while ago. I did my credit report last month just for fun.
     
    #3 -   Dec 5, 2005
  4. -dustin

    -dustin boring

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    i thought i had more school debt than what's shown. whoo....relief. kind of, i guess.

    i see credit cards listed, though, that i no longer have, nor use (card's been cut and trashed). do i have to call up the company and request my account be closed? i don't receive anything in the mail from them any more.

    --edit--

    god damn, 22 pages to print? oi.
     
    #4 -   Dec 5, 2005
  5. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    Don't close them. Apparently your score will be better with the available credit.
     
    #5 -   Dec 5, 2005
  6. Tenchiro

    Tenchiro Attention K Mart Shoppers

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    Just remember everytime you request a report, your credit score goes down a little.
     
    #6 -   Dec 5, 2005
  7. binary visions

    binary visions The voice of reason

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    I've heard that's a myth :think:
     
    #7 -   Dec 5, 2005
  8. narlus

    narlus Eastcoast Softcore
    Staff Member

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    and baby jesus cries too.

    oh wait, that's for something else.
     
    #8 -   Dec 5, 2005
  9. binary visions

    binary visions The voice of reason

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    Yeah, that happens every time N8 posts.
     
    #9 -   Dec 5, 2005
  10. rooftest

    rooftest Monkey

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    Every time you apply for credit, your score goes down a bit. If you look at your credit yourself, it doesn't count.
     
  11. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    It looks like it *may* be true - depending on if the agency considers getting your report an "inquiry".......... I wonder what the truth is.

    http://money.howstuffworks.com/credit-score4.htm
     
  12. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    I thought God killed a kitten...... :think:
     
  13. Toshi

    Toshi Harbinger of Doom

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    :stupid:

    there are permissible and non-permissible inquires. checking your own credit report through the site will not ding your score. having the car dealer check your credit will make it drop a bit.
     
  14. Tenchiro

    Tenchiro Attention K Mart Shoppers

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    I have heard that any interaction with your credit, wether it is an application or just asking for a repotr can lower the score. The reasoning being that increased activity and credit balance makes you a higher credit risk.

    Kind of like with Insurance companies, even calling to inquire about your policy can raise your rates. I saw a news article a year ago where a lady called her insurance company to find out of root damage to her plumbing was covered. It wasn't and her next bill relected a higher rate. When she called to find out what was up, they told her that because the inquiry that she had made.
     
  15. binary visions

    binary visions The voice of reason

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    They always say "pay your bills on time" but I've never seen a real bill on the credit report. Loans and credit cards, yes, but it seems silly to refer to these as "bills" in a generic sense - they're outstanding money owed for money borrowed, not for services rendered. Most bills are for services, not money borrowed.

    Do bills really impact your credit score?
     
  16. Toshi

    Toshi Harbinger of Doom

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    if you have an unpaid bill that has gone to a collection agency, yes it will show up, and yes it will hurt your credit
     
  17. Toshi

    Toshi Harbinger of Doom

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    from my equifax report:

    note the categorization.

    further backup of my point from this article: http://moneycentral.msn.com/content/Banking/Yourcreditrating/P41876.asp

     
  18. binary visions

    binary visions The voice of reason

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    That's not really what I mean. I know that if an account is opened with a collection agency it gets put onto your credit report, but simply not paying your bills on time doesn't open accounts with collection agencies.

    I've read probably a dozen sources on credit reports and they all stress that you need to pay your bills on time. It just seems like odd advice if what they mean is "Pay back borrowed money on time" and "Make sure you don't get turned over to collection agencies."

    :confused:
     
  19. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    They're probably talking about credit bills specifically. If you don't pay your water bill for a couple months, I'm pretty sure nobody cares.
     
  20. Tenchiro

    Tenchiro Attention K Mart Shoppers

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  21. ALEXIS_DH

    ALEXIS_DH Tirelessly Awesome

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    ERROR 404
    The page cannot be found
    The page you are looking for might have been removed, had its name changed, or is temporarily unavailable.
     
  22. manimal

    manimal Ociffer Tackleberry

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    wrong. having open accounts does nothing for you unless they are being used and paid off. simply having them to have them represents more risk because the opportunity to get into further debt is there.
    my wife and i have gone to a completely cash based lifestyle and no longer have any open loans or credit on our credit report. we have a good history of debts paid on time but we will not have any other debts listed besides a mortgage (which we plan to pay off in 10 years).

    another myth buster: "you need to build credit w/ a credit card to have a good credit score to buy a house/car".
    wrong. this is a myth run by the large credit corporations.
    you only have to show 8 months of on-time rent payments to qualify for a mortgage.
    think about it, our grandparents never had credit cards like we do now. they saved their money and bought things in cash. it wasn't until the mid 70's that the credit card was available to a portion of the public and it took the insane 80's to push them to the top.

    **side note: the only bummer about the free credit reports is that you still have to pay to get your actual score to see where you stand.
     
  23. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    Apparently this *used* to be the case, but it doesn't appear that it is anymore:

    http://money.howstuffworks.com/credit-score4.htm
     
  24. Toshi

    Toshi Harbinger of Doom

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    this is kind of a roundabout way to get a fico score: i have a credit card through providian/washington mutual that offers free fico score access (at any time, updated once a month). the card itself has no annual fee so in essence it is a free way to get your score...
     
  25. -dustin

    -dustin boring

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    OMG! ME TOO!!
     
  26. Toshi

    Toshi Harbinger of Doom

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    :think:
     
  27. -dustin

    -dustin boring

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    research paper is making me a little loopy.
     
  28. Toshi

    Toshi Harbinger of Doom

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    OMGHI2U in that case :D
     
  29. ALEXIS_DH

    ALEXIS_DH Tirelessly Awesome

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    anybody else gets a 404 error page..??
     
  30. Toshi

    Toshi Harbinger of Doom

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    it might be restricted to u.s. ip addresses...
     
  31. manimal

    manimal Ociffer Tackleberry

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    i'm not referring specifically to a credit score but mainly to what the loan officer looks at for a mortgage.

    there is no actual need to build credit with a credit card just to have a good score.

    "The borrower is slave to the lender"
     
  32. SkaredShtles

    SkaredShtles I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!

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    You make it sound like a credit card is a bad thing............ :p
     
  33. johnbryanpeters

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    Toshi,

    I respect your integrity, but how in the hell would one ever determine whether this site was truly legitimate?

    J
     
  34. Toshi

    Toshi Harbinger of Doom

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  35. Acadian

    Acadian Born Again Newbie

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    so it's safe to plug your SS# in there??
     
  36. Brian HCM#1

    Brian HCM#1 MMMMMMMMM BEER!!!!!!!!!!

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    Thats kinda what I was wondering too.
     
  37. binary visions

    binary visions The voice of reason

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    Yep.

    It's now the law that you can get that credit report. The site is gov't sponsered.
     
  38. manimal

    manimal Ociffer Tackleberry

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    no...they're great! ....and wal-mart agrees too! ;)
     
  39. Silver

    Silver find me a tampon

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    Having a good FICO sure helps though. It's like Astroglide and anal sex. Sure, you might be able to do without, but if you have lots of it, things go smoother...
     
  40. Acadian

    Acadian Born Again Newbie

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    So I gave it a try. Everything looks good except my Personal information on the Experian report. It shows one address that I've never lived at. Should I be concerned? Is it even worth my time to contact them about it?