Comments on: A Life Without Debt: Simple Credit Reports

By: peg

peg — Wed, 01 Jul 2009 18:37:31 +0000

I have been helping someone work through credit problems….She needs to get a second income…ONe of the responses said she works from home….Would she share what she does?

By: Gail

Gail — Wed, 01 Jul 2009 13:19:41 +0000

So nice of you to help your neighbor with this. The long term effect of you helping her with her finances can spread like a ripple in a pool as her freinds and faimly (children if she has them) see her start to manage her money better and then as she passes the word. Unbelievable to have a credit report that you don’t know for sure if a bill on it is yours or not!

By: Monkey Mama

Monkey Mama — Tue, 30 Jun 2009 19:46:15 +0000

Yikes!

To comment on the last comment – we always apply for cards for discounts, than we promptly close them. We have also done some credit card arbitrage – and had around 6 mortgages (for various reasons – refis for lower rates,moving, etc.) BUT I know my report is no more than 2-3 pages since we generally do not borrow as a whole. No car loans or anything.

Is it 7 years that things stay on the report? We are young enough that I don’t think anything has dropped off our report yet. Our first mortgage may drop off this year. I Closed my first credit card in 2003 – so our report may start to get lighter, even so.

I can’t even fathom how to get to 10+ pages.

Sadie – you are a saint, indeed.

By: Health Insurance Guy

Health Insurance Guy — Tue, 30 Jun 2009 15:27:01 +0000

A lot of folks also apply for too many credit cards in order to save 10% on a purchase. This can affect their credit score and also add to their 43 pages. Canceling those that are not used might help in the long run.

By: Snowy Heron

Snowy Heron — Tue, 30 Jun 2009 14:09:44 +0000

Whoa!! 43 pages! I have worked in finance for years and seen plenty of credit reports, but never one that was 43 pages long. I think we should make a rule that any credit report that is more than 10 pages long means you have a credit problem. You might be paying your bills now, but if you have more than 10 pages to your credit report, it won’t take much to cause a problem. Sadie, you were a saint for spending 6 hours with this person.

By: trevor

trevor — Tue, 30 Jun 2009 08:06:31 +0000

I have monthly credit reports which I can view online, these only put a “light touch” on my credit history and like you said I can keep track of anything happening or unusual – I got myself into a lot of debt and I am working through paying it all back, I work full time and do work from home in the evenings to earn some money.