A Week's Worth of Bank Suckitude

[Ghel]

The only place to get a truly free copy of your credit report is www.annualcreditreport.com. You can also get your credit score this way, but it will cost you a fee. (I think last time I did it, it asked right after I chose which credit bureau I wanted the report from. I think it was less than $10.)

In fact, you can get your credit report for free 3 times per year if you choose a different credit bureau each time.

You can also get a free copy of your credit report through the local credit bureau office (there's one about a 20 minute drive from my workplace) if you've been turned down for credit. The place that turned you down has to give you an Adverse Action which lists the reasons you were turned down. You take the Adverse Action to the credit bureau office, and they have to give you a free copy of your credit report.

Disclaimer: The above only applies in the US.

[42_42_42]

Per Clark Howard, if you want to establish credit the easiest way is to get a secured credit card. After a year of always paying the balance off each month, the bank will typically issue you a standard credit card and refund the security deposit back to you. However, what he considers the BEST way is to open an account at a credit union rather than a bank and then apply for a credit card through the credit union. Apparently, credit unions will issue account members standard credit cards right off, without having to go through the secured card period.

[AtDIelement]

My eye is still twitching from the story about the guy who needed his check book balanced, but at least you can charge them. I have to do it for the same elderly woman every month, but we don't charge. It takes a few hours everytime because she writes the amounts different in the book than what the actual check is written for... UGH. She's due in any day now.

[Andara Bledin]

edit: FCR has changed - you can get a free report, theoretically with no strings, from them with a 2 day delay or so before getting your data, OR pay them a dollar for the previously free set plus your Score more or less right away, which signs you up for the paid service (you have 7 days to cancel).

A note on that 7-days to cancel: If it's the same service I have (which is likely) the cancellation must be done via phone during business hours due to the nature of the account and who actually holds it.

^-.-^

[Caractacus_Potts]

34 never had a credit card, loan or morgage. Bought a lappy on credit once and paid it off early.

Yup you guessed it I can't get a credit card. (Not that I want one anyway.)

I found this out 22 years ago when I applied for overdraft protection on my first checking account. Who knew that being responsible and never buying anything unless you had the money to pay for it would be a liability?

You might want to consider getting a secured credit card.

That's what I did. I still wouldn't buy something unless I had the money to pay for it; however, I would buy it with the card then send the money to the CC company.

I still do that to this day and I deliberately leave a $5 or $10 balance every couple of months so the CC companies see that they are making money from me even if it's only a few dollars a year.

I'm also all over 0% interest offers. A loan that costs me nothing and boosts my credit score? Sweet! I make a payment every two weeks like clockwork and set it up so the loan is paid 3 to 6 months before it's due. A coworker got hit with fees and back interest because the bank changed his due dates. Even though he had an auto payment the same day every month due to the change in dates they showed him as 2 payments in one period and none in another. That's why I do every two weeks instead of once a month.

The only place to get a truly free copy of your credit report is www.annualcreditreport.com. You can also get your credit score this way, but it will cost you a fee. (I think last time I did it, it asked right after I chose which credit bureau I wanted the report from. I think it was less than $10.)

In fact, you can get your credit report for free 3 times per year if you choose a different credit bureau each time.

That's what I do. Every four months I have an automated email reminder come in telling me it's time to get another free credit report. I usually pay the small fee for the score too.

My last check was 832 out of possible 850. I bought my wife diamond earrings last Christmas and they had a 0% for two years offer that I took advantage of. The sales guy actually started sputtering when he ran my credit then started calling other sales people over to look at it. Apparently they had never seen someone with as high a score as I got.

I'm by no means rich but as someone else mentioned your credit score has little to do with your actual income and I've learned to play the system to my advantage.