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QuoteTheRaven424
22 Months?!!!!
Member since 5/05 13659 total posts
Name:
And If That Isn't A True Blue Miracle
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Example of how having excellent credit pays off
One of the things instilled in me by my father at an early age was when using a credit card, always pay it off in full, no matter how big the bill was.
Christine had the same upbringing
And because of that, we are both debt free.
Fast forward to today
I recently had a rather large bill on my corporate card. I had to wait to get my expense check from my company before I could pay it.
When I got the check, I deposited it in the bank and immediately sent the payment in to AMEX.
The problem is that the bank was delayed in clearing the check, so when AMEX went to collect payment, the money was not in my account. They went in again once it cleared and collected on it.
So, on this current statement, I get charged with a $20 penalty for them not being able to collect the first time.
I call them and explain the situation and they access my records and note my excellent record of never missing a payment and having no debt outstanding. Because of this, they waive the $20 charge.
Just a little example of why having good credit is important
Carry on
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Posted 8/3/06 11:47 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
BobBsWife
No more school= too much time!
Member since 5/05 1395 total posts
Name:
Tracy
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Re: Example of how having excellent credit pays off
YAY For good Credit!!!
My DH and I are the same way with our credit!
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| Posted 8/3/06 11:49 AM |
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baghag
:P
Member since 5/05 10278 total posts
Name:
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Re: Example of how having excellent credit pays off
Good for you! 
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| Posted 8/3/06 11:50 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Example of how having excellent credit pays off
Thats very true. But are you talking about having a good record with credit card companies or your credit score?
Becuase isn't true that having no debt at all actually lowers your credit score?
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| Posted 8/3/06 11:50 AM |
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Emily
Kasey & Me! Lurves it!
Member since 7/06 8703 total posts
Name:
STBHC
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Re: Example of how having excellent credit pays off
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| Posted 8/3/06 11:53 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Example of how having excellent credit pays off
I have a average amount of debt- and excellant credit- so having debt hasn't hurt me in the least
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| Posted 8/3/06 11:54 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Example of how having excellent credit pays off
Good for you. Most will waive the fee the first time it happens. That's how it was explained to me by Amex.
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| Posted 8/3/06 11:55 AM |
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MrsRbk
<3 <3 <3 <3
Member since 1/06 19197 total posts
Name:
Michelle
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Re: Example of how having excellent credit pays off
Posted by SweetTooth
Thats very true. But are you talking about having a good record with credit card companies or your credit score?
Becuase isn't true that having no debt at all actually lowers your credit score?
DH has absolutely no debt (well, except for our new mortgage). He hasn't carried a balance on anything ever and has the most impeccible credit score.
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| Posted 8/3/06 11:56 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Example of how having excellent credit pays off
Posted by Blu-ize
Good for you. Most will waive the fee the first time it happens. That's how it was explained to me by Amex.
almost every company will waive of fee the first time- they want to keep you- lots of competition in this industry
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| Posted 8/3/06 11:57 AM |
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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Re: Example of how having excellent credit pays off
I wished I had followed the same examples in my life and now I continue to pay for it. Just making it debt free now and learned my lesson big time.
Message edited 8/3/2006 12:06:37 PM.
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| Posted 8/3/06 12:04 PM |
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~Colleen~
my loves...
Member since 5/05 9129 total posts
Name:
guess
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Re: Example of how having excellent credit pays off
Posted by MrsRbk
Posted by SweetTooth
Thats very true. But are you talking about having a good record with credit card companies or your credit score?
Becuase isn't true that having no debt at all actually lowers your credit score?
DH has absolutely no debt (well, except for our new mortgage). He hasn't carried a balance on anything ever and has the most impeccible credit score.
Same with my DH - except add a car payment to the mortgage.
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| Posted 8/3/06 12:08 PM |
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Re: Example of how having excellent credit pays off
DH and I have always paid our credit cards in full, no matter how big the bill is, and how much it hurts. And believe me, sometimes it hurts!
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| Posted 8/3/06 12:09 PM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Example of how having excellent credit pays off
Posted by MrsRbk
Posted by SweetTooth
Thats very true. But are you talking about having a good record with credit card companies or your credit score?
Becuase isn't true that having no debt at all actually lowers your credit score?
DH has absolutely no debt (well, except for our new mortgage). He hasn't carried a balance on anything ever and has the most impeccible credit score.
When I got out of college I had only used debit cards, and couldn't even get a credit card because of my no record of credit! I finally got one and worked my way up to a high limit.
I've found that all places (banks, credit card companies, cell phone companies, phone companies, cable) will waive the fee the first time it happens if you've been a customer for a while. Always pays to call and ask!
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| Posted 8/3/06 12:25 PM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: Example of how having excellent credit pays off
Posted by SweetTooth
Thats very true. But are you talking about having a good record with credit card companies or your credit score?
Becuase isn't true that having no debt at all actually lowers your credit score?
I have heard that too. You have to open some cards up, pay them off on time or in full and work your way up to a high fico score.
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| Posted 8/3/06 12:29 PM |
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dom-n-nic
LIF Adult
Member since 5/05 1143 total posts
Name:
nicole
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Re: Example of how having excellent credit pays off
dont they waive the fee for the 1st time ??
my cc company did
i was late with my payment and they waived the fee for me because it was my 1st time that i was late .
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| Posted 8/3/06 12:40 PM |
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VirginiaDeb
Don't eat me, hippo!
Member since 5/05 9252 total posts
Name:
Deb
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Re: Example of how having excellent credit pays off
That's awsome, Don!
I was that way until DH and I got married 
about 90% of our CC debt is his 
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| Posted 8/3/06 12:46 PM |
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janet
WITH LOVE MY ANGEL MISS YOU!!!
Member since 5/05 12823 total posts
Name:
janet
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Re: Example of how having excellent credit pays off
keith was the same way! and he too got stuff waived when needed. never had to worry to much about this... and i would always complain but now i understand it. it is driving me crazy not being able to pay things and all i hear is keith going on about how important it is
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| Posted 8/3/06 1:11 PM |
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unknown1
****
Member since 5/05 2771 total posts
Name:
lisa
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Re: Example of how having excellent credit pays off
Posted by CaptainCharisma424
One of the things instilled in me by my father at an early age was when using a credit card, always pay it off in full, no matter how big the bill was.
Christine had the same upbringing
And because of that, we are both debt free.
Fast forward to today
I recently had a rather large bill on my corporate card. I had to wait to get my expense check from my company before I could pay it.
When I got the check, I deposited it in the bank and immediately sent the payment in to AMEX.
The problem is that the bank was delayed in clearing the check, so when AMEX went to collect payment, the money was not in my account. They went in again once it cleared and collected on it.
So, on this current statement, I get charged with a $20 penalty for them not being able to collect the first time.
I call them and explain the situation and they access my records and note my excellent record of never missing a payment and having no debt outstanding. Because of this, they waive the $20 charge.
Just a little example of why having good credit is important
Carry on
All credit cards are allowed to give you one freebie good credit or not.. I know I worked for credit card co.
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| Posted 8/3/06 1:34 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Example of how having excellent credit pays off
yay for you! 
not to brag (but I will anyway  ) my credit score average (all 3) is 801 
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| Posted 8/3/06 1:36 PM |
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MRSE
LIF Adult
Member since 5/05 1420 total posts
Name:
(112903)
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Re: Example of how having excellent credit pays off
It really does pay to be on top of things..... like everyone else said most companies will waive the first time
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| Posted 8/3/06 1:36 PM |
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MissJones
I need a nap!
Member since 5/05 22150 total posts
Name:
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Re: Example of how having excellent credit pays off
Posted by BobBsWife
YAY For good Credit!!!
My DH and I are the same way with our credit!
Ditto! In fact, DH used to carry a balance but with me, you MUST pay it off!!!
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| Posted 8/3/06 3:36 PM |
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Pumpkin
LIF Adult
Member since 5/05 3353 total posts
Name:
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Re: Example of how having excellent credit pays off
I do not think having good credit has anything to do with it. Most companies will waive that fee in order not to lose you. they have no idea what your credit score is when you call. They only know your standing with their cc company.
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| Posted 8/3/06 7:27 PM |
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bklyngirl
COULD THIS BE MY YEAR??
Member since 6/05 15758 total posts
Name:
Gail
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Re: Example of how having excellent credit pays off
that's great our sleepy's bill didn't come one month. dh realized it when we got our next bill. the waived the fee for us since they see they get the payments on time
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| Posted 8/3/06 7:33 PM |
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jozieb0925
Double Trouble!
Member since 5/05 4358 total posts
Name:
Josie
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Re: Example of how having excellent credit pays off
That's great!
Something similar happened to me..where my payment arrived to the cc company a couple days late..they waived the fee after they reviewed my record...
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| Posted 8/3/06 7:38 PM |
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05mommy09
Family of 5!
Member since 5/05 15364 total posts
Name:
<3 Mommy <3
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Re: Example of how having excellent credit pays off
Posted by Beth1210
I have a average amount of debt- and excellant credit- so having debt hasn't hurt me in the least
IM just curious... I was always told the opposite of Don-
Not to pay in full (even if we can) but to break it into a couple payments... for it helps your credit score..
Thats what DH and I have always done, and we have EXCELLENT credit!
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| Posted 8/3/06 7:45 PM |
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