As far as I know it is VISDSNB. VISDSNB is the visa departmental Store National Bank. You may find this name listed in your credit report if you have applied for a credit card through this store. The most popular Visa departmental store card is the MACYs card.
Yeah, these departmental store card offer reward programs where the customers can accumulate points on purchases and exchange these points for rewards. However, if you want to qualify for the best reward, you need to spend thousands of dollars at these store. But since they have the VISA symbol, you can use these cards anywhere outside the store too, to accumulate points.
I agree with both of you. Most of these stores have started offering VISA and Master cards which are mostly in tie ups with banks like HSBC and CITIBANK. Some of the most sought after departmental store card include the Elite Master card, Nordstrom VISA card, Target VISA card and the Macy's VISA card.
This is true... I once got involved, or trapped I should say, into starting a home biz. It turned out to be a run around and I had to open all sorts of accounts. Telephone, fax, website and a credit card. They told me the credit card was through the company, but it turned out to be through HSBC. After I closed the home biz I told them to close all my accounts. Well, they left the credit card account open, later stating that in the fine print it states that the contract leaves the CC open for a minimun of 6 months. I have since kept the balance at Zero. Now it helps my FICO score. Their trick, my win =) Could it be that this banks just put letters togueter in order to confuse us?
Thanks goodnatured!
It was very easy to get into, but very stressfull to get out of. It put me in a great deal of pain because the whole deal messed up my credit =(
Hi lostrikan
Since your credit card account is still open and it is helping you to improve your credit score, it is advisable to keep it open. Try and increase your credit limit, by contacting your issuer, since an increased credit limit decreases your debt to credit ratio which helps in increasing your score much faster. Sometimes, the issuer increases the credit limit by himself in order to persuade you to use your cards frequently.
We think along the same lines... lol. I stated this info somewhere around these forums yesterday I believe. I did contact some and raised my limits. Like you said, this in fact can be a tough move for those of us that do not stay on track. It's just so easy to run that extra credit back up =(
hi lostrikan
Increasing credit limit to increase your credit score is no doubt a wonderful idea. But the main difficulty is that with increased lines of credit, creditors may find it risky to offer you credit, because they may think that even if you have not exhausted your credit limit on your card, you may do so after taking credit from them since you have a higher credit limit on your card and there is a chance for you to become delinquent.
What I think is that only if you have missed payment or delinquent record in your credit report, it will create problem in obtaining a credit at low interest rates. Bit, if you have a good credit history and a good score, it should not affect your credit worthiness. But the thing is that you should not think increased credit limit means that you have the freedom to spend. This is because if you spend more and fail to repay them on time, your credit worthiness will be at risk and it will affect your credit score and hence result in higher interest rates on new credit.
There are also different types of credit, the credit reporting agencies refer to these as tradelines. For example a credit card is one type of tradeline while a mortgage is a completely different type of tradeline. If you google tradelines you will see the differences in each type.
My husband gets all our crdit. I have credit and its not too bad but I am waiting for two debts to fall off.The original creditor is suppose to go off on this august but midland must have purchased the debt because the same amount I had for cap one is their exact amount minus $7. Midland list it to fall off on July 2010. and list the original creditor as Providian. It seems wierd the cap. one and providain have almost the same amount for pay off. I think it is past SOL since July 2010 is 2 years away and if it is suppose to fall off in 7 years that would make the debt 5 years old. Is this correct in assuming?
wouldn't I actually be clear now? The SOL in PA is 4 years. The amount of time something stays on your report is 7. So if it falls off in 2010 the debt now is 5 years old. That is what I figured from my credit report. It was 30 days as of Dec. 2003. Is that when the SOl started in Dec. 2003?
Right, it would start on the date in December ?, 2003, whatever date you made the last payment, so it is before the thirty days, whatever day that they report last payment activity.
So if the last payment was on Dec. 2003 plus 180 days would that be May of 2004 the SOL started? So if PA is 4 years it would have been out of SOl in May 2008. Is this correct?
Hi fireyone
You are correct. You SOL will expire on May 2008, which means it has already expired and the creditor cannot sue you any more. However, the listing will stay in your credit report for seven years from Dec 2003, i.e. it will stay in your report till Dec 2010.
That is just it Anthony. It states that it will stay on record until July 2010. The dates just don't seem to add up. It wouldn't be 7 years until Dec. 2010 so why do they list July. A couple other little ones already past SOL only remain on for 6 years. It all boggles my mind.
I have no clue. It really bugs me cause some stay on longer and some are to go off in less time. My doc bill is ready to fall off and according to my report it would only be 6 years. These things are so confusing.
Who is the mindless idiot who posetd this without addressing the reality caused by this misguided Democrat credit card bill. Now people with so-so credit who before qualified for&were able to get high interest credit cards-are out of luck,because these cards are no longer offered. Instead these people are forced to get overnight loans at pawn&check cashing stores at interest rates 10 to 50Xs higher than were the high interest credit card rates. 235%-575% is the average rate for these places
As far as I know it is VISDSNB. VISDSNB is the visa departmental Store National Bank. You may find this name listed in your credit report if you have applied for a credit card through this store. The most popular Visa departmental store card is the MACYs card.
Yeah, these departmental store card offer reward programs where the customers can accumulate points on purchases and exchange these points for rewards. However, if you want to qualify for the best reward, you need to spend thousands of dollars at these store. But since they have the VISA symbol, you can use these cards anywhere outside the store too, to accumulate points.
I agree with both of you. Most of these stores have started offering VISA and Master cards which are mostly in tie ups with banks like HSBC and CITIBANK. Some of the most sought after departmental store card include the Elite Master card, Nordstrom VISA card, Target VISA card and the Macy's VISA card.
This is true... I once got involved, or trapped I should say, into starting a home biz. It turned out to be a run around and I had to open all sorts of accounts. Telephone, fax, website and a credit card. They told me the credit card was through the company, but it turned out to be through HSBC. After I closed the home biz I told them to close all my accounts. Well, they left the credit card account open, later stating that in the fine print it states that the contract leaves the CC open for a minimun of 6 months. I have since kept the balance at Zero. Now it helps my FICO score. Their trick, my win =) Could it be that this banks just put letters togueter in order to confuse us?
Sounds as if it is a trap that people could and would fall into, glad to hear that you got a head of the game on them, good for you.
Thanks goodnatured!
It was very easy to get into, but very stressfull to get out of. It put me in a great deal of pain because the whole deal messed up my credit =(
Hi lostrikan
Since your credit card account is still open and it is helping you to improve your credit score, it is advisable to keep it open. Try and increase your credit limit, by contacting your issuer, since an increased credit limit decreases your debt to credit ratio which helps in increasing your score much faster. Sometimes, the issuer increases the credit limit by himself in order to persuade you to use your cards frequently.
Hey Anthony,
We think along the same lines... lol. I stated this info somewhere around these forums yesterday I believe. I did contact some and raised my limits. Like you said, this in fact can be a tough move for those of us that do not stay on track. It's just so easy to run that extra credit back up =(
Probably is a smart move to keep it open, pay it down and leave it alone, this will help raise your score.
hi lostrikan
Increasing credit limit to increase your credit score is no doubt a wonderful idea. But the main difficulty is that with increased lines of credit, creditors may find it risky to offer you credit, because they may think that even if you have not exhausted your credit limit on your card, you may do so after taking credit from them since you have a higher credit limit on your card and there is a chance for you to become delinquent.
True, they take past credit history and evaluate weather to offer you credit or not.
What I think is that only if you have missed payment or delinquent record in your credit report, it will create problem in obtaining a credit at low interest rates. Bit, if you have a good credit history and a good score, it should not affect your credit worthiness. But the thing is that you should not think increased credit limit means that you have the freedom to spend. This is because if you spend more and fail to repay them on time, your credit worthiness will be at risk and it will affect your credit score and hence result in higher interest rates on new credit.
Scott,
I like you tag line, it is the truth.
There are also different types of credit, the credit reporting agencies refer to these as tradelines. For example a credit card is one type of tradeline while a mortgage is a completely different type of tradeline. If you google tradelines you will see the differences in each type.
I will do that myself since I never did understand the whole tradeline thing.
I found out what it was by being denied credit, they said that I had too many open tradelines.
My husband gets all our crdit. I have credit and its not too bad but I am waiting for two debts to fall off.The original creditor is suppose to go off on this august but midland must have purchased the debt because the same amount I had for cap one is their exact amount minus $7. Midland list it to fall off on July 2010. and list the original creditor as Providian. It seems wierd the cap. one and providain have almost the same amount for pay off. I think it is past SOL since July 2010 is 2 years away and if it is suppose to fall off in 7 years that would make the debt 5 years old. Is this correct in assuming?
Yes this is correct, you should be clear in 2010
wouldn't I actually be clear now? The SOL in PA is 4 years. The amount of time something stays on your report is 7. So if it falls off in 2010 the debt now is 5 years old. That is what I figured from my credit report. It was 30 days as of Dec. 2003. Is that when the SOl started in Dec. 2003?
Right, it would start on the date in December ?, 2003, whatever date you made the last payment, so it is before the thirty days, whatever day that they report last payment activity.
fireyone,
the SOL starts at the last date of mutual activity *last payment plus 180 days
So if the last payment was on Dec. 2003 plus 180 days would that be May of 2004 the SOL started? So if PA is 4 years it would have been out of SOl in May 2008. Is this correct?
Hi fireyone
You are correct. You SOL will expire on May 2008, which means it has already expired and the creditor cannot sue you any more. However, the listing will stay in your credit report for seven years from Dec 2003, i.e. it will stay in your report till Dec 2010.
That is just it Anthony. It states that it will stay on record until July 2010. The dates just don't seem to add up. It wouldn't be 7 years until Dec. 2010 so why do they list July. A couple other little ones already past SOL only remain on for 6 years. It all boggles my mind.
That does not make sense to me fireyone, why are they staying on longer.
I have no clue. It really bugs me cause some stay on longer and some are to go off in less time. My doc bill is ready to fall off and according to my report it would only be 6 years. These things are so confusing.
iRedNmJgnXXqGlp
Who is the mindless idiot who posetd this without addressing the reality caused by this misguided Democrat credit card bill. Now people with so-so credit who before qualified for&were able to get high interest credit cards-are out of luck,because these cards are no longer offered. Instead these people are forced to get overnight loans at pawn&check cashing stores at interest rates 10 to 50Xs higher than were the high interest credit card rates. 235%-575% is the average rate for these places