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  1. #1
    Expert Forum User The Ultimate London Mom!
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    Cross posting to get advice from the accountant as well if you are able to help me with this too! Thanks

    I was just at the bank and found out that my credit score is only 624. I pay my bills on time, use my credit card a lot but always pay it off so I expected it to be good.

    The lady kindly looked up the issues and I have two R9 ratings.

    One is from a store credit card, they talked me into getting it saying I could always just pay it off every time I used it. That's what I always did. I paid in cash one time (maybe $30) and they sent me a bill as if I didn't pay it. I argued with them till they stopped calling. Apparently they wrote it off and just gave me a bad credit score. This was back in 2005

    The other one was a credit card that I paid off and closed. Apparently after I paid it off they assessed another $5 in interest. That pissed me off and I refused to pay it saying I asked them for the total, paid it and closed the account. They should have given me the right amount.

    So what's the best way to just fix this to increase my credit score? I heard that they disappear after 7 years but if I pay them off now the 7 years starts from now. The one from 2005 is almost at 7 years so am I hurting myself by just giving them the money? Seems like a backwards system to me.

    My goal is a great credit score so I can be approved for credit in the near future.

    How do I best fix these two blemishes on my otherwise R1 ratings on all my other cards and bills?
    ~ "A friend is one who walks in when the rest of the world walks out."~


  2. #2
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    Hi Anon,

    Credit scores are not my area of expertise at all .... and not something I work with much so I'm not sure I can offer anything that hasn't been said in another thread . In my experience any lender's primary concern is the safety of their investment in you the borrower. They just want absolute assurance they'll get their money back without having to chase you for it. Paying things on time now and keeping your debt ratio in line with the lender's pre-determined suggested formulas builds your ratings. Large banks work within the same system however you may be surprised that what your current bank says is impossible is something another bank down the street has no issue with.

    Your prior disputes are for such a little and immaterial amounts I'm surprised they're an issue at all - but it seems that the systems of rating have caught you and I'm not sure there is anything you can do to have the amounts changed now beyond a request to the original lender. My guess is for less than $50 they won't care or devote much time to it ... which again sucks for you on such an immaterial balance.

    My suggestion would be to let the time elapse and not to devote great energy on trying to change something that's almost a non-issue in terms of the time left in appearing on your score and in terms of amounts. Shop around when you're applying for credit and don't assume that every bank and every bank manager uses the same criteria.

    Sorry I can't be of more help - but again this isn't an area I work with frequently.

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