Credit Score Question

a_skeleton_00 said:

I'm reading I absolutely need to apply for another credit card to increase my credit history line limit etc., I know I've asked when should I apply, instead now I'm asking what specific credit card for this maneuver would someone suggest?

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Whatever credit card will give you the best rate and line of credit. www.creditcards.com www.card.com

Also, side note, I would get your Experian score. Trans/Equifax are the "secondary" credit reporting agencies. Most places default to Experian, but will sometimes secondarily seek TransUnion. Equifax can fuck off.

Jysin said:

Multiple inquiries show you are shopping around for more debt, hence the credit hit. Let those drop off and you will see an improvement. I haven't had an inquiry in years, so can't say how much it adversely affects the actual score.

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Doesn't necessarily affect your score, however, if you have a dozen inquiries in a month, most creditors will see you're desperate for credit, and that's looked at from two perspectives - you're already in debt (which will also show in your active accounts), or your account is high risk for fraud. You shouldn't have a car loan, credit card, and mortgage application in the same month. 1-2 credit applications in a month you shouldn't see much affect on your rating, or credit response. When you hit your report 3 in a month, the potential for fraud and declines skyrockets.

Self lookups don't count towards this. Your inquiry isn't looked at as an inquiry for credit, but a status check, or "pre-check". Companies will perform prechecks to see if your rating is within their parameters before performing an actual check when you approve them to ping your credit for an actual application. Thing is, your rating doesn't tell the whole picture, so you may get a pre-check approval from a company, but they may have other declines reasons - like too many negative accounts (high utilization), too much debt-to-income, or validations tied to your address. If you live in certain areas, you can be declined simply because you live there. There are areas noted for having high fraud rates. Pretty sure I'm not at liberty to say where some of those places are, or I would. (tip: you can probably guess some of them)

a_skeleton_00 said:

Tons of prepaid approvals coming via mail, all going in trash. Waiting to see what happens the 20th when one of the hard inquiries comes off.

Here is an odd question, and yes I am a moron for cosigning etc;

Back in 2012, I cosigned on a car with my then roommate, payments were missed in 2014 and 2015 so I had to steal the car and then sell it back to the dealership at a loss to pay off the remainder on the loan.

This installment loan, showing paid since i sold it, however with the showing of missed payments, is showing TWICE on my experian account.

1) Is this supposed to be a double hit or something because it was a joint loan? That's why there's 2 accounts closed but showing the same #?

2) what would be the best time to request a dispute on this, in the hopes of this somehow not being replied to in 60 days and then falling off?

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You shouldn't have more than one reporting of a single credit account. The single reporting should show all of your past payments (assuming they reported them), the two missed payments, as well as showing the account is paid in full or closed. If there are two reportings of these things on your record, you should submit a dispute for review. They will easily expunge one or the other. If the lender never responds, both could be removed -- however, that may not benefit you, since paid accounts are good, even if you have a missed payment. Unless you're saying payments were not made for the entirety of 2014/15, in which case, yowzahs.

a_skeleton_00 said:

Still digging into this second report, is it possible because of the length of the loan it's shown as two accounts, or could that be an error too? I cannot find any difference in these 2 except for one has payments through 2015 the other only goes through 2014, showing wise.

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They might have reported separately for each year. Which is more or less fine, however it wont show as two years of continuous payments, and instead will show one year of payments for two different periods. If that makes sense. Unfortunately that's not really something that is fixable.