More Credit Information

chromebumpers

chromebumpers

solid fixture here in the forum
Staff member
This is 100% accurate and factual info.

Ever order something from Amazon and while you are adding items to your shopping cart you will notice a statement saying “This item could be $0.00 when opening an Amazon Prime Rewards Visa credit card.”
I’m paraphrasing, the “Exact wording is slightly different however the meaning is the same.

Amazon has been giving $150 gift credit to new customers for their credit cards. Now I’m referring to the Amazon Prime Visa, there are several different cards offered, there are other offers out there - just an FYI to you. This isn’t new, Amazon has had this offer going for a couple years that I know of.

You shop, putting together an order, if you don’t reach $150 on your order (not including taxes) a credit of your balance will be carried on your account until your next order.

Click on the “Apply now” box and in 5 seconds you will be notified on the spot whether or not you have been approved.
**Here is what I know -
Amazon’s Bank that issues their Visa Card uses Trans Union as the Credit Reporting Agency. They only use the FICO score reported by Trans Union. If your score is on the high side of “Fair” on the scoring scale you will be accepted.
Remember that “Fair” credit FICO scores start in the high 580 range up to 639, “Good” credit starts at 640 to 679, - “Excellent” starts at 680 to 740.

In this case if you have at least 620 scores (Trans Union) and no more than 4 hard pulls on your record within the last 12 months you should be accepted. Of course the higher your score, the higher your line of credit will start at with your new Amazon Visa.
Nnn
Note* When I say “should” it’s because I’m avoiding the word Guaranteed. You could have something on your report that is a big negative (like a Public Judgement or student loan default) but still have a decent FICO score, and that could work against you being accepted.

I hope to hear someday one or more of guys here has benefited from these bits of info.

Rich
 
I don’t get the last 2 replies? Is something misunderstood? I don’t think anybody was asked to sell their information
 
That's what all them offers to save you money is actually all about. Ever wonder why the store clerk tells you that you can save $10 if you apply for their card.. It is because they make 10 times that by selling your information that was asked of you when you apply for their card. They don't tell you that information.

I was talked into opening a Facebook page last year so we could sell some items on Marketplace...I do not post anything on the account...
but I have noticed that they listen to your conversations and sell that info to other companies.
Example: I was asked were I bought my two post lift at. I bought it used from a co-worker. That week I was bombarded with
commercials from Max Jack !! I have never ever seen commercials from that company before. When I opened my marketplace app
their was an add for Max Jack.!!

This was just one of many things that has happened...
My wife opened a Lowes account and all of a sudden we were blasted with e-mails, U,S, Postal junk mail, and solicited calls from anything related
to home improvement...

So I learned that when it is FREE or a SAVE x amount of dollars.....It is always best to pay full price and be done with it.

“This item could be $0.00 when opening an Amazon Prime Rewards Visa credit card.”

The "click apply" is were you unknowingly give away your info.

This next experience scared the shit out of me!!....

Utility companies and such seem to always ask the last 4 of your Social Security Number to verify that it is really you.... When I was in the "Union" I was asked for the first 4 numbers...

Ok...so now you have a 9 digit SS number which you have typed in the last four numbers on a computer to access your accounts... Now they are asking for the first 4 numbers to verify it is you....What most people don't get is that you just put 8 of the 9 digit SS code out for computer hackers. All they need to get your complete SS number is 10 different try's!!!!!!
Tell me that ain't some B.S.!!!!
 
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My apologies. My intentions were purely to share what appeared to be a good deal. I did sign a statement that does not allow sharing or selling of any personal information that constitutes my identity in whole or in part. It’s all part of the Federal Anti Trust Laws.

If selling our personal information like this through deception is true then that is fraud and there are clear Federal laws being violated. I can’t believe I’m hearing this for the first time.

My time with the Feds while I was a trustee in bankruptcy court left me with a few good contacts. My brother-in-law is a banking law specialist with the doj and messaged him and I already sent off a few emails. With what little I know it should be enough if there is any of substance to this I will receive some attention right back.
 
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If selling our personal information like this through deception is true then that is fraud and there are clear Federal laws being violated. I can’t believe I’m hearing this for the first time.
IF there is any substance to this?...………….
You had better be sitting down when you get the answer!
50% of big business's income comes from the buying & selling of your personal information.
 
You are right, It was a poor choice of words used. I’m told this is commonplace and it’s estimated that big corporate has increased their poaching of consumer information over 700% since 2018. I was up late last night filling out a formal complaint based on reviewing Amazon’s consumer credit contract. I’m making an argument that it’s too ambiguous and too many contradictions in their protection claims. I also believe their process of “sharing” my personal and financial information is actually creating inaccuracies between credit reporting agencies.

If anyone is interested there are several class action lawsuits that are still open for participation. All are very specifically addressing this subject.
 
And what will any of that do? You don't think that Amazon will stuff $$$ in the pocket of any politician to keep their mouth shut?
 
Oh they pay fines everyday, everywhere. For me it’s all about making noise. A message has to be sent that soon, a lot more will be aware of these deceitful maneuvers. While none can expect to move mountains, it should be remembered the games and the price paid by CitiBank, Wells Fargo and Lehman Brothers to name just 3 of the top 28 corporations in 2008 that either lost 80% or more of their value or just folded after client fraud was discovered. So we just spread the word and watch.
 
And IF they actually survive, they just pass the cost of the fines onto their customers.
Like always, LOSE for us - WIN for them.

Sorry Rich, I get it. If we don't try, then they get to do whatever they want with no resistance.
 
Just an update as of today. I received calls from Chase Bank, Amazon customer service and the PA Gov. Action, State Attorney General’s office, all regarding my written formal complaint for fraud.

They all assured me that situations similar to my claims of fraud exist in ever decreasing occurrences. The case with PayPal and eBay was the most notorious in selling consumer credit and identification information and has been stopped since 1/20.
The offer I accepted with Amazon and Chase Bank is secure and my personal information and ID is protected under the laws in PA and recently Federal laws as well.

Pretty much what I heard from the others too.
 
I’ve been sharing my knowledge and experience in credit building, overcoming problems and planning for anyone interested in improving their standing.
I’ve been a member of SCORE for over 10 years counseling small business development and I receive feedback from the Credit Union Network on current trends.
This summer some changes to relax the monetary flow have been slowly integrating through the the less regulated credit unions and savings and loan institutions and now showing up in the major banks offering commercial credit.

If you have plans to finance a car, home improvement or home loans and want to see the better interest rates it’s best to plan slightly ahead. FICO Scores rise and fall on 4 day cycles now, just 10 years ago it took as much as 45 days depending on where changes occur in any particular billing cycle.
Reducing your outstanding balances to under 10% of your total credit allowance will see a 4 to 23 point rise within 2 reporting periods. Additional point increases trend upward in 90 days (estimated average) following your Trans Union index.
If you can’t reduce your debts the next best way to your credit utilization scores (this acts directly on your FICO scores) is to ask existing accounts for a credit increase or apply for another credit card. The goal is to dilute any outstanding balances you have, increasing the ratio between debt and available credit to sub 10%. I personally have dropped to 6% from 12% and 14 days later saw all 3 CRA’s raise scores an average 45 points.
PM me if you have any questions or post here if you like.
 
Anybody use any type of free credit watch service? Did you know that score is not the same as lenders see? Every bank in the US now offers your FICO score either in your statement (Discover Card) or online statements.

Bet you didn’t know that most automaker financing has lowered their top tier qualifying scores in March this year.
Best rates were a min 740 FICO scores. Now at 680 and up. Jobs are never validated above 620. Employment doesn’t figure in any application over 620.
Credit card balances are posted 5 to 12 days after charges are made. So apply for more credit or new credit after you make your payments. 4% outstanding balance reduction = 4 points or less*
Increases can deduct up to 13 points between reporting dates.
 
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