Credit scores a mess

[Jim Smith]

As you might know the credit score calculations are in need of some serious overhaul. If you have too many credit cards you could get a bad score. If you cancel your cards to prevent any temptation of using them you get a bad score. Gee , I wonder who set up these rules?? So do the right thing and get punished. If you get chance during this holiday season write your folks in Congress and let them know that some change is required. We have the power of the pen so I'll write mine.

 

[SHobbs]

I wish something was done about companies that buy old credit card accounts. Say from a divorce you get accounts that were your wifes removed. She don't pay them so they are written off. Now some company buys that account and tries to get you to pay them and it's been placed on your credit report once again ruining the work you did to clear your report. Get that removed and here comes another company doing the same thing. It's easy for someone to put something on your report and it's a pain in the butt for you to get it off.



I do agree though that something needs to be done about credit card companies. I do believe some rule changes are in the works. As for me I do not have a single one and do not miss them. So far my bank card has done for me everything I credit card did and it comes right off the top with no interest or other associated fees.