Home Page link  

Bank of America shouldn't mess with its customers credit report

  
Groups | Search | About
User Password
Register Now! Lost Password?

Quicken Personal Finance Discussions - Quicken - personal finance software discussions

 Post an article  get this group's latest topics as an RSS feed add this group's latest topics to your My MSN content add this group's latest topics to your My Yahoo content  add this group's latest topics to your Google content  YahooMyWeb Yahoo!  Google Google  Windows Live Favorites Windows Live  del.icio.us del.icio.us  digg digg  Add to Netscape Netscape
Subject Author Date
Bank of America shouldn't mess with its customers credit report xcwork 10-07-2006
Posted by Bob Wang on October 10, 2006, 2:47 pm
Please log in for more thread options
 Joshua:

May I suggest that you sign up for the free 30-day trial at MyFICO.com.

http://www.myfico.com/products/scorewatch/freetrial.aspx

"100% Risk-Free 30-Day FREE Trial. A week before your 30-day trial expires,
we will contact you by email to confirm that you wish to convert your trial
to an annual subscription. If you do not cancel prior to the end of the
30-day trial, you will be billed at the annual subscription rate of $89.95
when the 30-day trial expires."

Just remember to cancel before 30 days are up.

Of course, this is the consumer Equifax score, not the "real" score used by
banks and mortgage companies.

But it will still give you a good indication of where you stand.

If you are over 750, no harm no foul.

If you do sign up, would you be so kind as to let the group know, ROUGHLY,
where you stand?

Bob

>>>

bobby_wang@hotmail.com says...

> If your bank did a "soft" pull, which is likely for existing customers,
> your
> FICO score was probably unaffected.

There's more to a score than the number of inquiries.

For someone who does not have many credit accounts open, a brand new
card can significantly reduce the average *length* of accounts as well.
(To give an oversimplified example: you previously had two accounts, one
open four years, one open five years. Average length of accounts, 54
months. Open a brand new card, average length of the three accounts
together is now only 36 months.)

--
josh@phred.org is Joshua Putnam
<http://www.phred.org/~josh/>
Braze your own bicycle frames. See
<http://www.phred.org/~josh/build/build.html>



Posted by DP on October 11, 2006, 12:03 am
Please log in for more thread options
Another option is this: https://www.annualcreditreport.com/cra/index.jsp
This is the site that resulted from a federal law that allows you to get a
free credit report every year. You do not have to sign up for anything else
to get your report. You don't have to sign up for a limited-time free trial,
after which you will be charged, etc etc.
It is absolutely free and you get free reports from the three major
credit-reporting agencies.
However.....

1) This will not give you a credit score. You can sign up to pay extra to
get a credit score, but it is not free. But at least the free reports will
show you the inquiries made about you.

2) As you go through the process with each of the agencies, they will try to
get you to sign up for services that cost you money. All you have to
remember, though, is to not sign up for anything that costs you money
(unless you want to). At the end of the process, you will still be able to
get your FREE credit reports.

Just remember, it's free. I've been through the process twice and managed to
get reports from all three bureaus for NO COST. (I did pay an extra few
bucks once to see a credit score, but that was my option).




> Joshua:
>
> May I suggest that you sign up for the free 30-day trial at MyFICO.com.
>
> http://www.myfico.com/products/scorewatch/freetrial.aspx
>
> "100% Risk-Free 30-Day FREE Trial. A week before your 30-day trial
> expires,
> we will contact you by email to confirm that you wish to convert your
> trial
> to an annual subscription. If you do not cancel prior to the end of the
> 30-day trial, you will be billed at the annual subscription rate of $89.95
> when the 30-day trial expires."
>
> Just remember to cancel before 30 days are up.
>
> Of course, this is the consumer Equifax score, not the "real" score used
> by
> banks and mortgage companies.
>
> But it will still give you a good indication of where you stand.
>
> If you are over 750, no harm no foul.
>
> If you do sign up, would you be so kind as to let the group know, ROUGHLY,
> where you stand?
>
> Bob
>
>>>>
>
> bobby_wang@hotmail.com says...
>
>> If your bank did a "soft" pull, which is likely for existing customers,
>> your
>> FICO score was probably unaffected.
>
> There's more to a score than the number of inquiries.
>
> For someone who does not have many credit accounts open, a brand new
> card can significantly reduce the average *length* of accounts as well.
> (To give an oversimplified example: you previously had two accounts, one
> open four years, one open five years. Average length of accounts, 54
> months. Open a brand new card, average length of the three accounts
> together is now only 36 months.)
>
> --
> josh@phred.org is Joshua Putnam
> <http://www.phred.org/~josh/>
> Braze your own bicycle frames. See
> <http://www.phred.org/~josh/build/build.html>
>
>



Posted by Dennis M on October 12, 2006, 3:27 am
Please log in for more thread options

>Another option is this: https://www.annualcreditreport.com/cra/index.jsp
>This is the site that resulted from a federal law that allows you to get a
>free credit report every year. You do not have to sign up for anything else
>to get your report. You don't have to sign up for a limited-time free trial,
>after which you will be charged, etc etc.
>It is absolutely free and you get free reports from the three major
>credit-reporting agencies.
>However.....
>
>1) This will not give you a credit score. You can sign up to pay extra to
>get a credit score, but it is not free. But at least the free reports will
>show you the inquiries made about you.
>
>2) As you go through the process with each of the agencies, they will try to
>get you to sign up for services that cost you money. All you have to
>remember, though, is to not sign up for anything that costs you money
>(unless you want to). At the end of the process, you will still be able to
>get your FREE credit reports.

If this is the same site I'm thinking about I didn't have to "go through
the process with each of the agencies," however I've only done it once and
right after the program was first started. I just downloaded a form on that
site, filled it out, and put it on top of the refrigerator until 6 months
had passed and my area of the country was eligible for the three free
credit reports (which all eventually arrived).

Posted by DP on October 12, 2006, 7:27 am
Please log in for more thread options

>
>>Another option is this: https://www.annualcreditreport.com/cra/index.jsp
>>This is the site that resulted from a federal law that allows you to get a
>>free credit report every year. You do not have to sign up for anything
>>else
>>to get your report. You don't have to sign up for a limited-time free
>>trial,
>>after which you will be charged, etc etc.
>>It is absolutely free and you get free reports from the three major
>>credit-reporting agencies.
>>However.....
>>
>>1) This will not give you a credit score. You can sign up to pay extra to
>>get a credit score, but it is not free. But at least the free reports will
>>show you the inquiries made about you.
>>
>>2) As you go through the process with each of the agencies, they will try
>>to
>>get you to sign up for services that cost you money. All you have to
>>remember, though, is to not sign up for anything that costs you money
>>(unless you want to). At the end of the process, you will still be able to
>>get your FREE credit reports.
>
> If this is the same site I'm thinking about I didn't have to "go through
> the process with each of the agencies," however I've only done it once and
> right after the program was first started. I just downloaded a form on
> that
> site, filled it out, and put it on top of the refrigerator until 6 months
> had passed and my area of the country was eligible for the three free
> credit reports (which all eventually arrived).

I think it has improved some since then. You don't have to download a form;
you just do it all online. Your report shows up online and you can print it
out. Nothing needs to be mailed out and nothing is returned to you by mail.
Some of the agencies (but I don't think all three) give you the option of
returning to that site to view the same report in the next 30 days for free.
The report is in effect frozen for viewing. For example, if you go back to
look at the report 29 days later, it won't show any intervening activity.
And you don't have to do all three agencies when you look for reports. You
can pick one or two.
When you finish with one agency, it kicks you back to the home page where
you can choose to go to another of the three agencies.

It's a shame that there are other sites out there with similar names that
are not really free at all. What they do is offer a free credit report if
you sign up with their credit-monitoring service. For example there is one
out there (and I'm writing this name so that it does NOT show up as a link)
called freecreditreport(--dot--)com. I'm pretty sure that's one of the sites
that is not actually free at all.









Posted by Dennis M on October 12, 2006, 6:40 pm
Please log in for more thread options

>>
>>>Another option is this: https://www.annualcreditreport.com/cra/index.jsp
>>>This is the site that resulted from a federal law that allows you to get a
>>>free credit report every year. You do not have to sign up for anything
>>>else
>>>to get your report. You don't have to sign up for a limited-time free
>>>trial,
>>>after which you will be charged, etc etc.
>>>It is absolutely free and you get free reports from the three major
>>>credit-reporting agencies.
>>>However.....
>>>
>>>1) This will not give you a credit score. You can sign up to pay extra to
>>>get a credit score, but it is not free. But at least the free reports will
>>>show you the inquiries made about you.
>>>
>>>2) As you go through the process with each of the agencies, they will try
>>>to
>>>get you to sign up for services that cost you money. All you have to
>>>remember, though, is to not sign up for anything that costs you money
>>>(unless you want to). At the end of the process, you will still be able to
>>>get your FREE credit reports.
>>
>> If this is the same site I'm thinking about I didn't have to "go through
>> the process with each of the agencies," however I've only done it once and
>> right after the program was first started. I just downloaded a form on
>> that
>> site, filled it out, and put it on top of the refrigerator until 6 months
>> had passed and my area of the country was eligible for the three free
>> credit reports (which all eventually arrived).
>
>I think it has improved some since then. You don't have to download a form;
>you just do it all online. Your report shows up online and you can print it
>out. Nothing needs to be mailed out and nothing is returned to you by mail.

I don't think this is necessarily an improvement, I'd just as soon send in
a form and receive three hard copies of the reports through the mail. I
guess the new way is easier on the credit agencies themselves though.

Similar ThreadsPosted
OT - Bank of America Credit February 27, 2007, 1:40 pm
Bank of America Credit Card November 16, 2006, 8:41 pm
Bank of America credit card and Q2004 September 9, 2006, 12:07 pm
Bank of America Credit Card Updates in WA August 12, 2008, 1:51 pm
Bank of America - No longer down loading recent credit card transactions.... March 4, 2007, 6:02 pm
Bank of America credit card downloads-dropped transactions issue May 29, 2007, 7:07 am
Bill Pay with Bank of America - CA April 27, 2007, 11:46 pm
Did Bank of America Change Something? October 22, 2007, 1:34 pm
Bank of America $9.95 monthly fee. February 11, 2008, 9:04 am
Question with Bank of America Changes September 12, 2008, 5:03 pm

Contact Us | Privacy Policy
This site is not affiliated with Intuit - makers of Quickbooks and Quicken software
This site is not affiliated with Sage Software - makers of Peachtree accounting software
XML SitemapXML Sitemap