Will This Hurt My Credit?

ItsYoBuddy

ItsYoBuddy

Rise And Grind!
Apr 6, 2008
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Not like it matters but curious if this will hurt my credit:

1) Recently I've been getting a ton of credit card offers and figure I should probably get a better CC with a higher limit. I could never get a good CC because for some reason when I opened my first bank account my mom had to have her name on it or something because I was too young. Well she also put a loan or something in my name or on my bank account. I don't know what she did, but I looked at my credit report last august and it said I owed money, I think under my revolving report. Asked her to take it off and I guess it's off my credit report now.

My one credit card is about to expire in august and I don't want to renew. It has a low limit and I have asked multiple times if I can raise the limit and every time they say they aren't raising cards at this time. If I let this one expire and get a new CC from a different company, will it hurt my credit report? I've always heard getting more cards can hurt your credit.



2) I got surgery back in august and I was told by the hospital I did not have to pay anything and that the insurance will cover it all. Well I get a bill 6 months later for the anesthesia. I wouldn't have cared if they told me I had to pay. I also wouldn't have cared if they billed me a month later. The bill is only like $300, but it's just annoying because its 6 months later and they told me no bill. Maybe I'm over reacting and should just pay it all. But I feel like just paying $10-$20 a month just so they have to wait to get all the money.

I've never been in a situation like this before, if I do only pay $20 a month will this hurt my credit? I was told by some people that the hospital will sell my debt or something to a company then they will try to get the money from me. And if that happens that will definitely show up on my credit.



tl;dr - 1) If I let a CC expire and get a CC from a different company will it hurt my credit?
2) If I take forever to pay a hospital bill, will it hurt my credit?
 


If you have the 300 bucks, stop being a peasant and pay it. If you don't have the 300 and need to pay the 20 a month, it will not hurt your credit. Not paying the 20 a month and letting it be charged off to creditors is what hurts your credit. GL, bro.
 
ItsYoBuddy said:
Asked her to take it off and I guess it's off my credit report now.
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It doesn't work like that. If it showed up on your report it stays on your report until you dispute it. Even if your mom paid whatever debt was showing up, it will still be on your report, so you should just dispute it.

ItsYoBuddy said:
I've always heard getting more cards can hurt your credit.
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It's a little more complicated than that. In the short term, your score may drop a couple of points, but it's negligible if you are smart about managing your credit.
On the card expiring, they auto renew. Even if they charge an annual fee, usually they renew and bill it to you. If you don't pay it, then they start hitting you with the standard late fees (usually around $40), and will eventually fuck your credit good. CC companies share info, and what one card reports can screw your chances of getting a decent rate on another card. Even cards you currently own may raise your rate arbitrarily based on what other CCs report.

ItsYoBuddy said:
I've never been in a situation like this before, if I do only pay $20 a month will this hurt my credit?
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Just pay it all.
 
ItsYoBuddy said:
If I let this one expire and get a new CC from a different company, will it hurt my credit report? I've always heard getting more cards can hurt your credit.
Click to expand...

#1: If you let your only credit card expire/close it (and from what you're saying it seems to be your only credit account) it will definitely hurt your credit score. Your credit score is calculated based on several factors, one of which is length of credit history. If you close that account you're shooting yourself in the foot.

#2: Applying for a new card will cause hard inquiries on your report (i.e. slight drop in score) but getting more credit improves your credit:debt ratio, thus in the long term this "should" raise your score (provided you don't go raping the new card bringing your credit:debt ratio lower than 3 to 1).
 
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1) Credit history is a major factor when considering credit scores. If you have have that credit card for more than a couple years, you should probably just keep it.

2) Anesthesia is often not covered by insurance companies. It's not up to your hospital to know what your plan covers, the deductible, etc. If $300 is too much for you, you can always negotiate (yes, even hospital bills are negotiable -- you can ask for a lower bill or a monthly payment plan)
 
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DanWesson said:
It doesn't work like that. If it showed up on your report it stays on your report until you dispute it. Even if your mom paid whatever debt was showing up, it will still be on your report, so you should just dispute it.


It's a little more complicated than that. In the short term, your score may drop a couple of points, but it's negligible if you are smart about managing your credit.
On the card expiring, they auto renew. Even if they charge an annual fee, usually they renew and bill it to you. If you don't pay it, then they start hitting you with the standard late fees (usually around $40), and will eventually fuck your credit good. CC companies share info, and what one card reports can screw your chances of getting a decent rate on another card. Even cards you currently own may raise your rate arbitrarily based on what other CCs report.


Just pay it all.
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She did dispute it though, didn't really go into detail about that.

Thanks for the replies. Looks like i'll just keep the card and just use it for little things and apply for a new card for a higher limit.

As for the $300 bill, I can afford it. It's just annoying that they sent it 6 months later, idk. Was just curious how it would effect my credit. Appreciate the replies.
 
ItsYoBuddy said:
She did dispute it though, didn't really go into detail about that.
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Your credit report, yours to dispute. There is nothing your mother can do to your credit report (except fuck it up, obviously).:2drinkspit:

Can't tell you how many young people I used to deal with in a previous job who's credit had been fucked because their parents used their info to buy a flat screen, cell phone, or something else equally retarded.
 
DanWesson said:
Your credit report, yours to dispute. There is nothing your mother can do to your credit report (except fuck it up, obviously).:2drinkspit:

Can't tell you how many young people I used to deal with in a previous job who's credit had been fucked because their parents used their info to buy a flat screen, cell phone, or something else equally retarded.
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hmm, thought we cleared it up but it was awhile ago. I'll have to look at my credit report this weekend to double check and call her tomorrow. I was kinda mad about it when I found out, but hey things happen. I just assumed it was taken off because all of a sudden 6-10 months later, I get all these credit card offers.

Appreciate the info. Would rep you but it says I gave out too much rep
 
ItsYoBuddy said:
Well she also put a loan or something in my name or on my bank account. I don't know what she did, but I looked at my credit report last august and it said I owed money, I think under my revolving report. Asked her to take it off and I guess it's off my credit report now.
Click to expand...

It's still going to be there. You have to dispute it with each of the 3 credit reporting agencies. You may be stuck with it. You can check at annualcreditreport dot com, which is the only legitimate way to check your credit for free. If you're going to get a credit monitoring service, I recommend TrueCredit from TransUnion.

ItsYoBuddy said:
My one credit card is about to expire in august and I don't want to renew. It has a low limit and I have asked multiple times if I can raise the limit and every time they say they aren't raising cards at this time. If I let this one expire and get a new CC from a different company, will it hurt my credit report? I've always heard getting more cards can hurt your credit.
Click to expand...

Credit accounts don't "expire". The card does, and they're going to send you a new one. You should not close this account. Something like 15% of your credit score is calculated based on the average age of your credit accounts. Opening new lines of credit or closing old ones will dramatically change that average and hurt your credit score. If you have to open a new account, at least keep your older ones open to offset this. If your average account age is less than 4-5 years it will hurt you.

ItsYoBuddy said:
I wouldn't have cared if they told me I had to pay. I also wouldn't have cared if they billed me a month later. The bill is only like $300, but it's just annoying because its 6 months later and they told me no bill. Maybe I'm over reacting and should just pay it all. But I feel like just paying $10-$20 a month just so they have to wait to get all the money.
Click to expand...

Apparently you didn't know yet, but now you know: healthcare is a scumbag's business and the hospitals and insurance companies will conspire to screw you out of every possible dollar. They also have the system to collect their money from you heavily rigged in their favor. This is not a fight worth fighting. Pay them in full. Immediately.

ItsYoBuddy said:
I've never been in a situation like this before, if I do only pay $20 a month will this hurt my credit? I was told by some people that the hospital will sell my debt or something to a company then they will try to get the money from me. And if that happens that will definitely show up on my credit.
Click to expand...

If you set up a payment plan it is highly unlikely they will place a collections account on your credit report. However, these are huge companies with a lot of bureaucracy that tends to easily make mistakes and not so easily fix them. Don't give them the chance unless you really enjoy spending months writing certified letters to 5 different companies trying to undo their fuckups.
 
DanWesson said:
Your credit report, yours to dispute. There is nothing your mother can do to your credit report (except fuck it up, obviously).:2drinkspit:

Can't tell you how many young people I used to deal with in a previous job who's credit had been fucked because their parents used their info to buy a flat screen, cell phone, or something else equally retarded.
Click to expand...
Yeah I've seen the same, that's a nice gift to leave your kid. Start em off with bad credit and then kick them out into the world, NICE.... :ugone2far:
 
Have more credit cards up to a point helps your credit. I have read that the correct number to have is around 5. Also make sure to not use too much of your credit and to use each credit card a small amount each month to show that you have not lost or forgotten about it.
 
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