Archive for the Credit Cards

My Credit Score Dropped 25 points!

I received an email the other day from Wamu/Chase informing me that my FICO credit score had changed 20 points.  I logged in to their website to see what had happened. It is down 25 points! The only things that I can think of are that I applied for that auto loan a couple months ago. It’s either that or because Wamu closed my card the other day. I have no idea. Those are the only two things I can think of. I’m not that upset about it because it’s still 809, but the point is it was 834 and I worked my butt off to get it there! I’m just bummed.  Just for the records, here’s the history of my credit score (keep in mind I’m 25): 12/07- 781 1/08- 781 2/08-810 3/08-801 4/08-801 5/08-801 6/08-803 7/08-814 8/08-834 9/08-820 10/08-834 11/08-809 Am I being too crazy about my credit score?   Tweet

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Thanks a lot, Wamu/Chase!

As I’ve previously mentioned, I love my Wamu card. I guess I should say loved. They canceled my card! I received a letter in the mail the other day telling me that since I hadn’t used the card in over a year that they were canceling it. I was fuming! Not only did I enjoy the benefits of the card, but now it’s going to hit my credit report as a closed account and make it go down!  I am not a happy camper. I have had this card open for five or six years.  I’ve always paid on time, I had a $15,000 limit, and I loved having a card that was as flexible as Wamu.  I couldn’t believe that they would close a customer’s card without asking them first if they intended on using it.  If they had sent me a letter that said that they noticed I hadn’t used it in awhile and asked me if I would like to keep it open, I would feel a lot better about this.  I am just so mad that […]

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What’s happening to my Wamu credit card?

Awhile back, I sang the praises of my Providian/ Wamu credit card. I loved that credit card because it tracked my FICO score for free for me.  That was pretty much the only other reason I kept that card, besides the fact that I’ve had it the longest out of any of the cards that I have open now.  Since Wamu went under, I am wondering what’s going to happen to my credit card. I’m hoping that Chase will take it over and leave me with my FICO score tracking.  I figure that will happen, or I’ll be transferred over to a Chase credit card and get some of the benefits they offer.  The other day a customer was telling me about all the benefits they receive from their Chase card, and they actually sound like they have really good credit cards. I figure if they drop my FICO score tracking or I don’t like the rewards/terms and conditions, then I’ll just cancel the card.  I have one credit card that I mainly use for purchasing gas since we get […]

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Credit Card Statistics

It never ceases to amaze me how much credit card debt some people have. I was reading something the other day that said that 58 percent of Americans say that they rely on credit as a way of making ends meet. As high of a percentage as that is, I was a little surprised that it wasn’t higher. With the rising cost of gas and food prices, I anticipate it will be raised by the end of this year. Last year, our nation’s collective credit-card debt was $937 billion, having nearly quadrupled in fewer than 20 years. If our nation continues to spend at the same rate, how is anyone going to afford to live? Quadrupling in 20 years is embarrassing. What are people charging? Things they probably don’t need: new furniture, vacations, new electronics, etc. I think credit cards can be so tempting and I sometimes have to hold back from spending when I know I’ve got my credit card. I feel like if I don’t have to record it like I do in my checkbook, then it’s not […]

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Credit Scores and the Credit Crisis

With the current credit crisis happening before our eyes, now is the time to make sure your credit report is in order.  Many banks are taking precautionary measures to ensure a credit crisis like this doesn’t happen again.  They are lowering the loan to value ratio on how much they will lend up to the home’s value; for example, my financial institution used to lend up to 100% loan to value, and now the maximum is 85%.  The are verifying income on a regular basis and requiring pay stubs.  It seems that the rules are being changed and banks are buckling down even more on a daily basis. Today it was announced that if there’s a joint application, the rate of the loan would be based off the person with the lower credit score.  Hypothetically, if Mr. Money and I applied jointly for a loan and my credit score is 800, which would be an interest rate of 5%, and his credit score is 700, which is an interest rate of 7%, they are going to give us the 7%.  […]

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Proof of Payment from National City Everyday Rewards Visa!

When I got the mail today, I had received my rebate check from my National City Everyday Rewards Visa! I am so excited! Of course, I had been checking my rebate amount each month when the statement came, so last month when the rebate balance was $99.25, I was a little bit bummed. (Once you hit $100, the check is mailed). I missed my check by $.25! I was patient, and received it with my statement this month. I’m going to use this check to make a payment on that student loan. I’d love to go out and buy a new digital camera, but I’m going to be responsible and keep chiseling away our debt. It’s for the best. Here’s my proof of payment: I don’t know why, but I always enjoy seeing copies of people’s checks, especially when it involves them making money online, or easy money! Do you think I should use the check for paying on the loan, or do something fun with it? Tweet

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    Welcome! I'm Mrs. Money and I lead a frugal, simple, and debt free life on a modest income. I make money online to help support our family. I believe in saving money, living green, and enjoying life!

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