Posts by Lisa Jones6

electricbadger89 said:First off, it’s not the Federal Reserve, it's the credit bureau.

Second, for her to even access your credit report, she needs a signed statement from you authorizing it.
Since she didn't get one from you, that's on her—she can't just go digging through your files. No one is allowed into your credit history without your written consent.

Now, here's the other thing: once the second bank sees that JPMorgan Chase pulled your credit, they're going to demand proof that you haven't taken out a loan there.

So, you'll have to head down to a branch, sign that statement for the clueless lady, and ask her for confirmation that you haven't opened any new credit lines.

Also, expect that confirmation to cost you $18.

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The agency

Hands down, this is the absolute worst bank I’ve ever had the misfortune of dealing with. From the incompetent staff to their broken-down tech, it's a total disaster.

electricbadger89 said:And then there’s that "hit" loan everyone keeps talking about.

I actually have the one where the interest rate drops after three years of consistent payments.
But since the rate on that specific loan is fixed, I assume nothing should be changing?

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I really need to double-check the fine print in this letter from JPMorgan Chase...

The variable portion of the interest rate—specifically the 6-month SOFR for USD based on the last observation date—was 0.58, whereas the parameter value as of February 28, 2018, stands at 0.47.

Based on the above, your new interest rate will be 6.82%, and your new monthly payment will be $425.00.

The adjusted interest rate will take effect starting April 1, 2018.

electricbadger89 said:What exactly do you mean by cash?
With variable interest rates in play?

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I mean, I wouldn't be surprised if that variable is constantly shifting. It’s never a fixed target, you know?
It’s that exact same setup where, after two years, the interest rate on your loan just starts plummeting. $67Look, I honestly don’t think I’ll even live to see the finish line on this one. I’m already drowning in debt as it is, and I took out that massive loan way back in July 2017. I'm basically underwater at this point.

I just got hit with an email from my bank last week about some interest rate adjustments... It’s infuriating. I took out a $25,000 personal loan a few years back, and when all is said and done, I’m going to end up handing them about $35,000 total.