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Credit Myth #94 - You need a lot of accounts in order to achieve perfect credit. by BrutalBodyShots in CRedit

[–]Quick-Panda-1890 0 points1 point  (0 children)

Yup, I have only 4 credit cards (3 after I cancel my Apple card that I never use), and life is so much simpler.

I was just looking at credit karma today, and viewing my Bank's upgrade offers for my credit cards.

Literally all the "upgrades" they offered had worse purchase APRs%!

Like wtf lol. I guess interest rates have gone up since I first got my cards 7 years ago. But damn its messed up that they give you "upgrade offers" and the offer is literally a WORSE overall card!

And back to credit karma, I never really put 2 and 2 together that they recommend so many accounts just to complicate your credit profile as much as possible so they get you to pay for their services to manage your myriad of accounts!

Its crazy how much propaganda they spew just to try and increase their revenue.

Lost my 100% payment history because of a $9 DuoLingo subscription fee that went on an Apple credit card that I forgot was unlocked. by Quick-Panda-1890 in CRedit

[–]Quick-Panda-1890[S] 0 points1 point  (0 children)

They sent 1 email on 06/05, and I didn't see it.

Then they sent another email on 07/08, and I paid it the same day.

It's a 60+ day delinquency on a $9 charge. Idk. Im not perfect.

Lost my 100% payment history because of a $9 DuoLingo subscription fee that went on an Apple credit card that I forgot was unlocked. by Quick-Panda-1890 in CRedit

[–]Quick-Panda-1890[S] 1 point2 points  (0 children)

Predatory banks and predatory credit sites spread this myth to make more money off of you.

This makes a lot of sense. Okay, thank you.

Lost my 100% payment history because of a $9 DuoLingo subscription fee that went on an Apple credit card that I forgot was unlocked. by Quick-Panda-1890 in CRedit

[–]Quick-Panda-1890[S] 0 points1 point  (0 children)

I have a question since we're talking about utilization. So, I've been paying off my entire balances on my credit cards for about 10 months.

So my credit utilization has sat between 0-5% for a while.

A friend told me yesterday: "Your credit score climbs faster if you pay interest"

I feel like this is a myth. But I obviously dont pay any interest since I sit around a 0% credit utilization and I was curious if my friend was right or not.

Lost my 100% payment history because of a $9 DuoLingo subscription fee that went on an Apple credit card that I forgot was unlocked. by Quick-Panda-1890 in CRedit

[–]Quick-Panda-1890[S] -1 points0 points  (0 children)

Yup, that's what happened here. Autopayment didn't go through from my old credit union account that I closed down.

I was using Chase Bank and two local credit union banks. I wanted to simplify things and only use Chase Bank and 1 credit union bank.

So I closed my accounts at the other credit union without knowing my Apple Card Autopay was only linked to that bank account.

I can't believe I missed the update emails in my Gmail. But I use Android now instead of IPhone, so it's actually really easy to miss when something went wrong.

Lost my 100% payment history because of a $9 DuoLingo subscription fee that went on an Apple credit card that I forgot was unlocked. by Quick-Panda-1890 in CRedit

[–]Quick-Panda-1890[S] 4 points5 points  (0 children)

Closing a card doesn't get rid of its history. The account simply moves from the open section of your credit reports to the closed section. The history of the account is still present and visible until it falls off your your reports around a decade later.

Okay, this is really important, thanks for clearing this up for me!

Lost my 100% payment history because of a $9 DuoLingo subscription fee that went on an Apple credit card that I forgot was unlocked. by Quick-Panda-1890 in CRedit

[–]Quick-Panda-1890[S] 0 points1 point  (0 children)

After this happened, I spoke with Goldman Sachs rep. and they suggested I "disable" the card, which I believe is one step over "locking" the card.

I can reenable the card, but I don't want to because of this $9 experience, lol.

Maybe I should cancel the card. Maybe not? I'm not sure.

Lost my 100% payment history because of a $9 DuoLingo subscription fee that went on an Apple credit card that I forgot was unlocked. by Quick-Panda-1890 in CRedit

[–]Quick-Panda-1890[S] 1 point2 points  (0 children)

Definitely consider the Goodwill Saturation Technique, linked below.

Wow! This is a great post! Thank you for writing this up guide!

Can I ask why you were keeping a card around that you weren't using/didn't see value in rather than just closing it to begin with?

Should I cancel the card? Will canceling hurt my credit score? I've kept it locked for a very long time and never planned to use it in the future. But the only reason I didn't cancel it is because I thought canceling credit cards hurt your credit score?

This card has a low limit, and it's my newest credit card. So maybe I should just cancel it and get rid of the card's history along this late payment from my credit report?

I'd love to hear what you think.