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Posts posted by cap1kid

  1. MT2VA- I think it will work for you...I was stuck in subprime hell, which turned into chargeoff hell. I then went almost 3 years with no credit cards and paid cash for evrything. About a 1 1/2 years ago I got a wake up call when I was contacted by an attorney wanting to file a lawsuit on one of those subprime chargeoffs- that had gone from 800 to over 2000 because of late fees and overlimit fees etc. I found this site and changed my life. I thought of the credit union solution after talking to some people at my CU about credit repair. I think the 1g is a good benchmark. Treat it like a 300 card (that way utilization is never over 30%)

  2. Although I'm a little leary to pay myFico for my scores because the last time I purchased them the CR that came with the score was still showing stuff that was not on the report from the actual CRA so how could my FICO score possible be accurate if its based on wrong info??

    MYFICO is the score that most lenders rely on. The other scores are referred to as FAKO- and are notoriously inaccurate.

    I would wait 6 months between myfico score purchases so you get a truer picture.

  3. I believe those subprime cards get more people in trouble and create long term problems. If you are patient, you can get a nice $1000+ card with no fees and star building a nice savings account at the same time. If she goes on an app spree with the likes of First Premie, Crap1 Orchard - she's likely going to get a crappy 300 card with fees. If she follows my advice she's better off in the long term Plus she saves those inquiries.

    junk begets junk-

  4. Stay away from Subprime cards- they are junk- here is my advice from a different thread:

    I like the idea of a credit union- but here is how I would approach it.

    1) Set up a special savings account at the credit union-(not a checking account you pay bills with)consider this your credit repair account

    2) Place $1000 in that account with the intention of not touching it for a year. If you don't have 1000- place $50 a pay into the account - or whatever you can afford- and wait until you have $1000.

    3) Keep working on getting those other cards Util down to around 10% or lower- this will increase your scores.

    4) Apply for a credit card at your credit union- If your approved for over 1000 Great-

    5)If denied - immediately ask about secured- You may broach this subject with a lending officer prior to applying for the initial card- This is your backup plan and hopefully will result in only 1 inquiry- I've found that Cu's tend to pull from EQ

    I believe that $1000 seems to be a benchmark- and now you can stay away from the 300 junk cards- They have their place- but should be carefully weeded out, if they carry annual fee

  5. is the place to get FICO scores for TU and EQ - EX no longer offers them. Almost anywhere else are FAKOs and can lead to confusion. My recommendation got to and get your free report (no scores here) fed law requires each CRA to give you 1 report a year free. THIS IS THE PLACE- don't get fooled by other places that offer a service. Use these reports as a basis for cleaning/repairing. Get your TU and EQ FICO from as a starting baseline.Use the discount code. (don't get obsessed with score- manage your debt and start repairing for at least 6 months until your check your FICO scores again)

  6. If they are making you money- or helping keep the site alive- Of course I love them and have been buying tons of stuff from the sponsors.

    If they aren't generating $$$- they are annoying.

    Actually I haven't really noticed any difference.

    What ever happened to the website that stole your entire content?

  7. Dateline: Connecticut/ Washington DC 2008- Chris Dodd receives at least $103,000 in political contributions from AIG!

    Tuesday 03/17/09 - Chris Dodd has 'no idea' how the provision allowing huge AIG bonuses with bailout money became law.

    Wednesday 03/18/09- Chris Dodd admits he added provision: "I agreed reluctantly," Dodd said. "I was changing the amendment because others were insistent."

    OTHERS WERE INSISTENT???? WHOSE PULLING THIS PUPPETS STRINGS???? certainly not the American Public

  8. I am curious at what percentage the credit card balances need to be under to have a positive or non-negative effect on your credit score. I heard that under 30% is the cut off? Does it make a difference at 40, 50, or 60%?.... What is the difference in credit score between carrying 50% of your credit limit compared to carrying 30% of your limit?

    I believe that utilization is one of the largest factor in scoring. I've been told that a good mark to shoot for is <10% overall with no more than 30% on any card. YMMV