Credit Card question...

[Patrick9915]

I have a few questions about credit cards and credit scores.

 

I received an offer for a credit card. As money isn't constant right now, I won't go for it. I'm not exactly sure what my credit score is. This is pretty much how I handle my bills. If I make a bill, I pay it. If I'm unsure if I can pay the bill, I just don't get the product or service. If I have some extra money, I may pay a little in advance on next month's bill. Not sure how that has affected my credit score. The only two things I have that aren't paid for outright now are a car and my cell phone.

 

So, I get this letter for an offer. It says they have checked my credit score and that I qualify. Here are the questions with that.

 

Do they actually check my credit score or is this just something they say for me to sign up?

 

If they do, is it legal for them to just go around checking credit scores and make offers? I don't remember asking anyone or giving anyone permission to check my credit score.

 

Finally, I thought having your credit score checked had a negative impact on it. Are the companies that are supposedly checking out my credit actually destroying it?

 

Now there is another issue. On the envelope, it says "Action Required. Open Immediately!" This is a bit of a lie since I don't want their card, no action is required immediately. I feel this is borderline fraud. No action is required on my part. Eff them.

[fishinambition]

I dont think they really check. I've gotten pre-approved letters only to be denied upon application. It's been over 5 years since I've even applied for anything, so things may be different now.

[skip0ls]

i'm in the same boat as you basically, and always worried about similar things. i don't have a card, but i feel kind of pressured to, so i can build credit, and eventually buy a house, blah blah. good thread, i'm subscribed now.

[Nemesis]

Most states allow a free credit report a year... get yours.

 

They are not checcking your credit until you apply. You are in a huge data base and people with the worst credit get tons of these offers... There are actually a couple of movements to limit the information banks ansd businesses know about you, but they know a lot.

 

If you are making regular on time payments on outstanding and manageable debt then you should have a good credit score.

[Patrick9915]

Most states allow a free credit report a year... get yours.

 

They are not checcking your credit until you apply. You are in a huge data base and people with the worst credit get tons of these offers... There are actually a couple of movements to limit the information banks ansd businesses know about you, but they know a lot.

 

If you are making regular on time payments on outstanding and manageable debt then you should have a good credit score.

 

Then they shouldn't effing claim that they did.

 

I try to keep my bills to the bare minimum. If I want something badly, I try to save up and pay in one down payment or close to it. It makes me decide if I really want it or not. I try not to impulse buy because I know that will get me into trouble quickly.

 

If I can't pay for it outright, whatever remaining debt is usually easily handled.

[Eagles Dare]

You wont get your score, but you can get a free copy of your credit report each year from the "big 3" bureaus. Go to annualcreditreport for the request. If you stagger the requests, you can end up getting a free report every 4 months.

[Toad in Nj]

Experian

888-397-3742

------------------------------------------------------

Equifax

800-685-1111

------------------------------------------------------

TransUnion Credit Report 800-916-8800.

[stakones]

Free reports tend not to be very accurate. Having credit cards with the mid frame Patrick mentioned is important. Emergencies, building credit, etc.

[Nemesis]

I try to keep my bills to the bare minimum. If I want something badly, I try to save up and pay in one down payment or close to it. It makes me decide if I really want it or not. I try not to impulse buy because I know that will get me into trouble quickly.

 

If I can't pay for it outright, whatever remaining debt is usually easily handled.

 

 

Very responsible...

[Patrick9915]

I'm not really questioning what my credit score is. It has to be okay because I've never really been turned down for anything reasonable except that I had to put a large deposit down on my first cell phone. That's only because I had no credit at that point.

 

I was just wondering if they were doing any damage. Since it looks like they're just saying I'm approved to get me to apply, it looks like no harm is being done.

[Ravioli]

You will be fine.

[Eagles Dare]

I'm not really questioning what my credit score is. It has to be okay because I've never really been turned down for anything reasonable except that I had to put a large deposit down on my first cell phone. That's only because I had no credit at that point.

 

I'm was just wondering if they were doing any damage. Since it looks like they're just saying I'm approved to get me to apply, it looks like no harm is being done.

 

I'd take a look at your report just to make sure there's no inaccuracies on it. Try the site I posted above. It's the official site relegated by the FTC, not some fly-by-night operation like that one with the stupid song on TV.

[stresst]

They do not check your credit score, Its only an atempt to get your business. If you dont know what your credit score is find out! I have Privacy guard, I pay 29.95 a year and they monitor your credit. They also send you scores for all three reporting agencies. You should definetely have one credit card,two won't hurt. Use them for everything and watch you credit score's rise. Everything you use cash for from gas,pharmacy to mechanic repairs charge it and pay it rite off.

 

I have a Cabela's credit card and like I said use it for everything. I get at least 2 free calcutta's a year from the points.

[Ravioli]

They do not check your credit score, Its only an atempt to get your business. If you dont know what your credit score is find out! I have Privacy guard, I pay 29.95 a year and they monitor your credit. They also send you scores for all three reporting agencies. You should definetely have one credit card,two won't hurt. Use them for everything and watch you credit score's rise. Everything you use cash for from gas,pharmacy to mechanic repairs charge it and pay it rite off.

 

I have a Cabela's credit card and like I said use it for everything. I get at least 2 free calcutta's a year from the points.

 

That only works if you are disciplined enough to not overspend.

[sageguy]

In this day and age, it's tough to live under the credit radar.....credit cards are not bad.....how people use them is.......try to rent a car, book a cruise, reserve a hotel room without one......you need to build a strong credit score for bigger and better things in the future.

 

Other than your payment history the single most important aspect of your credit rating is your debt ratio......keep that ratio low and you will be considered a good credit risk.