Friday, December 11, 2009

Damn! Damn! Damn!

I'm sad today.

I'm sad today because my credit score went down.

I'm sad today because my credit score went down and I can't see any way to have prevented it from happening.

It's no secret that CC companies are going for blood out here, but I got a letter in the mail that my very high credit limit on my *insert name of company* card would be decreased by a significant amount due to gross negligence or some other crap like that. (yes, I said the name of the card. I hope they're monitoring an I hope they know I think they can kick rocks!)

I called and very calmly asked what they meant by "gross negligence." Come to find out a loan I co-signed for my dearly beloved sister was paid late TWICE. *side note: the heavy emphasis on twice indicates two things. 1) I'm pissed at my sister for messing up two times, once maybe, but two. #CmonSon. 2) Twice also emphasizes that I think it's ludicrous for CC companies to have the ability to lower my credit limit for paying late twice [not non-payment, paying late] thereby a)making my total amount available lower, which simultaneously lowers my credit score AND b) making it appear like I went over my credit limits. [i.e. if my limit was $1,000 and my high balance was $987, then they drop my limit to $750, then my high balance will still be $987 and I look like I make a habit or going over credit limits, which I don't.])

I don't necessarily feel helpless, but I can't think of a better word. The last time I talked to you all about my credit score here it'd jumped up 70 points (from decent to good). Well from there, it's gone down 85 points (from good to bad). So I'm not even back to sqaure 1. I'm on square -1.

And I'm going to tell on myself. It's not ALL my sister's fault. Remember that CC I paid off in this post. I um... well um... I ran it back up within three or four months, buying this and some other stuff. :-/ Having maxed out cards (even if you're paying the bill on time no-lookie-good).

Well, the good news is:

1) I make more money than I did the last time I talked about my credit, but my expenses are the same, so debt payment can really take center stage in 2010. (Making sure I eat regularly took center stage up until now).
2) It usually only takes about 6 months to a year get your credit score up and I don't have any major purchases on the horizon, so I have yet another opportunity to practice patience, diligence, restraint & responsibility. (Dear God, what are you preparing me for? Oh boy!)
3) I actually do eat well everyday, so while I'm sad about this minor setback, I see the bigger picture and it looks good (and tasty).

**P.S. I was sad on the day that I wrote this, but I'm fine now. (For all of you all that worry about me.)


Luvvie said...

I read the Consumerist and Mashable, which are the bibles of Social media and finance. One of them suggested a website called that monitors your credit score for you FOR FREE! And it lets you know how different actions will affect your score, whether good or bad. Its apparently very secure. I signed up for it and was BLOWN at how awesome and comprehensive it was. Look into it.

chichi said...

Thanks luvvie
These credit people are out for blood.

T said...

@Luvvie OMG, I love that site. It's not telling me anything I don't already know, but I love the pretty charts and graphs and it really does make you feel like you can improve your score.

Moreover, it compares me to others and apparently everyone in the whole damn country has bad or mediocre credit. And even more than that, I'm right where the rest of my age group is.

After seeing the aggregated date it's starting to make me think credit scores are just a way to make you feel bad about yourself and pay higher interest rates (unless you're a millionaire).


K to the... said...

The same thing happened to me with Chase in the summertime, and boy was I heated!!! The bastards sent me the letter about lowering my credit limite...AFTER lowering my credit limit. SO I had to move some funds around to make a nice large payment. My credit score hasn't gone least for now. Ugh! I'll have to check out this creditkarma site.

Soapbox Cormack said...

Okay, I know I'm late, but I gotta get in on this. Citibank tried to change my credit card interest rate from 0% to 32% because of the "Changing economic conditions". I had to cancel it, which I didn't want to do and it had a VERY high limit. Boo Citibank!