I have a question about charge-offs. I have paid all in settlements, but the pay status says either "payment after charge-off" or if it was transferred to collections, the original account just states "charge-off", or "charged off as bad debt". For the accounts that went to collections that were purchased by another lender, is it possible to get them to state paid instead of just charge-off? If I have to wait for them to fall off, it will be 2014 before my credit is completely clear. I am new to this, so I am unsure as to what actually has to stay on my report. Any thoughts would be appreciated

Hi AmyB98, when paying collection items in the future..ask the creditor in writing to report as "paid" before you pay them. If you google "collection letters", you may ask the creditor to either take the item off your credit report, or report it as "paid" once you make your payment.

Make sure you get this in writing first.

Please note the creditor does not have to do this, and more than likely they might say no, but it's worth the try.

I had paid a collection item and it was updated as "paid for less than own" I don't know which is worst , but at lease it show that I paid something.

Rob, I'm sorry, we have the Sears Premiere card which is not the MC and it is underwritten by Citibank.

Re JCP, I forgot to mention that her CLI went from $1k to $1800.

I have a question about charge-offs. I have paid all in settlements, but the pay status says either "payment after charge-off" or if it was transferred to collections, the original account just states "charge-off", or "charged off as bad debt". For the accounts that went to collections that were purchased by another lender, is it possible to get them to state paid instead of just charge-off? If I have to wait for them to fall off, it will be 2014 before my credit is completely clear. I am new to this, so I am unsure as to what actually has to stay on my report. Any thoughts would be appreciated!

Rob have you seen the connection with people like us w/Fair Credit? It appears that all HSBC issued cards, e.g Discover,Sears,BestBuy..gets this $29-$79 annual fee. Whats up with that..

Yoyo, yes I've seen that. I guess that is HSBC's standard price to us with Fair Credit. To take it further, look at Poor Credit: First Premier, Tribute, etc. Program fees, monthly servicing fees, internet fees. Then you have good credit with lower a/f's or no a/f's. I think whatever your class of credit is, that determines how much you are going to pay for credit. The higher the risk of default, the more cc companies are going to charge to offset losses from defaults. We at Fair credit are sort of in the middle. We don't pay the Program fees or monthly servicing fees just higher a/f's and apr's. I think when we finally get to the Good Credit, we will see a reduction again in fees, at least in annual fees. At least that is what I am hoping. I hope that helps. Or HSBC's higher a/f's may just be higher so when you call in to complain about the service or fees, threatning to cancel, they have a tool to use to calm you by lowering the a/f thinking that if they lower it, you will feel like you got something and won't cancel. Two of my cards had the $59 a/f cut in half so they can do that. Good luck:cheesing:

Shark6, thanks for the encouragement. The Sears Solutions Mastercard is issued by HSBC not Citi. If you apply for the Citi card and get declined, HSBC automatically reviews your app to see if they can approve you for a card. That is what happened to me. The card even came with a $59 a/f which I managed to get lowered to $29.50 but if next year I will probably get rid of it if they don't give a cli or lower the a/f again.

Rob have you seen the connection with people like us w/Fair Credit? It appears that all HSBC issued cards, e.g Discover,Sears,BestBuy..gets this $29-$79 annual fee. Whats up with that..?

Rob72830, Sears is underwritten by Citibank and IMO, they do not give out consistent and even healthy CLIs for the Sears card. DH and I have had Sears Premiere card for over 10yrs and the first time that we asked for a CLI in June we were only give 190 and they wouldn't budge.



I would keep Sears as well as this card is one that is not easy to get. It may help with approvals for other cards.

Shark6, thanks for the encouragement. The Sears Solutions Mastercard is issued by HSBC not Citi. If you apply for the Citi card and get declined, HSBC automatically reviews your app to see if they can approve you for a card. That is what happened to me. The card even came with a $59 a/f which I managed to get lowered to $29.50 but if next year I will probably get rid of it if they don't give a cli or lower the a/f again.

Fico Scores

TU 653
Eq 662 Just got increased by 16pts today Yipee!
EX 607

Rob72830, Sears is underwritten by Citibank and IMO, they do not give out consistent and even healthy CLIs for the Sears card. DH and I have had Sears Premiere card for over 10yrs and the first time that we asked for a CLI in June we were only give 190 and they wouldn't budge.

JCPenny

I would not close this account. They have great sales, coupons and they have the luv button online where you can pay your bill. My daughter got an $800CLI when she clicked on the luv button in June after about 9mths of having the card. I would definitely keep this card as this one should grow with you.

I would keep Sears as well as this card is one that is not easy to get. It may help with approvals for other cards.

went to myfico.com and my scores are as follows

Transunion 648

Experian 628

Equifax 670




there is life after bankruptcy

Congrads on your scores..please join the FICO club!

Just thought about something, I dont think the graph updates as soon as you pull the report becasue that is the same thing that mycreditkeeper has. The graph is a score tracker and it updates at a seperate time frame from when I pull my credit report.

Yeah, here I come! I know they are not real FICOs but still look good. Wamu updated the PFICO and it dropped to 627

Had the same on my accounts, maybe they havent fully updated their system???

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Most people do state that the BOA reports as secured, however that does not make a difference in your FICO scores. You can look at it this way...a creditor who sees a secured card knows you have the money to back that card up. Plus when the card unsecures they a very good with CLIs. This card should be a keeper!!!
One other side note. I would not close your jc penney. You will see very nice CLIs from them after a few months of use which will greatly help with util ratios. Walmart, not so much.

Thanks for that info. Makes me feel better. I know one thing for sure, First Premier is out of here next month.

Thats good. Maybe they are doing something different for me. It is probably nothing to worry about but I would like to know if anyone else has the secured card and if it reports as secured. And if it does, does it affect their cr negatively? Thanks

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Most people do state that the BOA reports as secured, however that does not make a difference in your FICO scores. You can look at it this way...a creditor who sees a secured card knows you have the money to back that card up. Plus when the card unsecures they a very good with CLIs. This card should be a keeper!!!
One other side note. I would not close your jc penney. You will see very nice CLIs from them after a few months of use which will greatly help with util ratios. Walmart, not so much.

My Fico just went up! It is sitting at 731! It's close to what my origional score was.

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That is an awesome score. Congrats to you!

Rob,

My BOA card has not thus far indicated it is a secure card on my credit reports. I have had it a few months and BOA has reported to all three credit Bureaus.

Thats good. Maybe they are doing something different for me. It is probably nothing to worry about but I would like to know if anyone else has the secured card and if it reports as secured. And if it does, does it affect their cr negatively? Thanks