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Established Contributor
Posts: 869
Registered: ‎07-04-2012
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Re: 30 Point drop from application spree

What in the piss was that ahahah. Jim carry must be proud. Now going back to the topic, I also experienced a 30-40 point reduction after my last app spree. I assume our scores will recover to their fullest in a year of good use though. The higher total CL helps util when expending in big purchases and higher Cls breed similar ones.

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Contributor
Posts: 84
Registered: ‎03-11-2011
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Re: 30 Point drop from application spree


LS2982 wrote:
Lol cut the guy some slack!

LOL....They did !  I've been on some forums that would have repsonded as if he kicked puppies and drowned kittens with that post :smileyhappy:

 


Starting Score: 534 11/09
Current Score: FICO 652 05/11
Goal Score: 700+


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Contributor
Posts: 108
Registered: ‎06-24-2012
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Re: 30 Point drop from application spree

Hopefully this reads better. I can assure you that I can read and write. In fact, I have 2 Masters and Ph.d from University of Penn. My only challenge is needing  a new computer which I don't want to use credit to buy. Now laugh at that! 

Moderator Emeritus
Posts: 4,875
Registered: ‎11-02-2010
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Re: 30 Point drop from application spree


praise123 wrote:

Hopefully this reads better. I can assure you that I can read and write. In fact, I have 2 Masters and Ph.d from University of Penn. My only challenge is needing  a new computer which I don't want to use credit to buy. Now laugh at that! 


 

I've read plenty of your posts, and I know full well that you write intelligibly and articulately. At times, our electronic devices can have rather odd ways of expressing things for us. :smileywink:

 


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Senior Contributor
Posts: 4,307
Registered: ‎02-23-2011
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Re: 30 Point drop from application spree


praise123 wrote:

Hopefully this reads better. I can assure you that I can read and write. In fact, I have 2 Masters and Ph.d from University of Penn. My only challenge is needing  a new computer which I don't want to use credit to buy. Now laugh at that! 


LOL...Pretty clear you were using some kind of "difficult to type" contraption.

 

Anyway, having 0% with a single card reporting a minor balance is great a maximizing a numerical Fico score; but, not letting balance report may hurt you with some potential issuers.  Citi comes to mind, who routinely rejects applicants for "too little balances" reporting.  Amex would routinely reject an applicant for not paying or using their cards enough.

 

Some issuers will report your payments, eventhough your balance is 0.  BofA and Amex comes to mind here.  They both report what you've paid, even if you paid before your statement cuts with 0 balance.

 

On the other hand, Discover, Wells Fargo, and CapOne (others too) will report your balance, but contain no information on payments rendered.  This gives the impression you're not using your cards.

 

Ideally, you'd want low utility with positive history of using and paying your cards to optimize your chances of future approvals.

 

Good luck!

Established Contributor
Posts: 795
Registered: ‎05-16-2012
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Re: 30 Point drop from application spree


praise123 wrote:

Hopefully this reads better. I can assure you that I can read and write. In fact, I have 2 Masters and Ph.d from University of Penn. My only challenge is needing  a new computer which I don't want to use credit to buy. Now laugh at that! 



I thought it was pretty cute and after the day I had I needed the laugh..so thank you!

100% Ficos: EX 762, TU 767, EQ 762 Inquiries last 1 year/6 months: EX-0/0, TU- 0/0, EQ-1/0~ last credit card app 6/24/13- New car loan 3/8/2014
Discover IT $9500~Kohls $1000~Amex BCE $2000~ Walmart Discover $7500~NFCU Signature CashRewards $16,100~ Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $3500~ Amazon Store $7000~ Fingerhut $1050
Regular Contributor
Posts: 440
Registered: ‎02-08-2012
0

Re: 30 Point drop from application spree

Note to self: Don't post on Myfico forums after sippin' back on grandpa's old cough medicine :smileyhappy:

Goal: 700 and an Amex Card!

Chicks Dig Guys With Good Credit :smileyhappy:
Contributor
Posts: 101
Registered: ‎07-30-2010
0

Re: 30 Point drop from application spree

We all appreciating you posting your results. Let us know what cards you were approved for the deinied ones. That would help other posters that are planning on going on a spree. Thanks again. :catvery-happy:



4/5/12 TU-635 Ex-634 Eq-646 (Kroll Fact. Home loan)
9/8/10 TU-654 Ex-627 Eq-638
8/1/10 TU-629 Ex-627 Eq-638


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