Alliant online preapproval how do you use the auto loan?

[Anonymous]

   I was wondering how long it would take after the new accounts post for the score to not count them as "new".

 I watched the score after each pull just because I was curious and had the score tracker and it worked out to about 15 points on the first, then around 9 points an Inq after. When the accounts started to post as new it did not seem to make the score go one way or another so maybe the "hit in the score" comes mostly from the inquiry? I am guessing it will take a month to get all these accounts posted to which CRA's they will post but some like AMEX, Macy's and Citi posted before I even got the card in the mail! Macys card has not arrived and my daughter used the account number to purchase this weekend and the amount she put on the card was on the CRA the next day! I could not believe it! Apparently the advantage to having the store cards over paying with debit is they also get more "coupons" for sales as an inducement to using the cards. That is ok with me since all my family is bargain conscious to start with. I never would have imagined I would know what my "credit score" was on a weekly basis! I used to apply for anything and just get what I wanted no problem. So I want to make sure my kids get the best rates on things in the future so the money will buy nicer things (car, home) for the same payment and income! I have to admit when I sat in front  of the computer screen, pushed  the mouse and bingo there was a new account, could really have an effect on someone. I will just keep learning and listening.

[Anonymous]

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@Anonymous wrote:

   I was wondering how long it would take after the new accounts post for the score to not count them as "new".

 I watched the score after each pull just because I was curious and had the score tracker and it worked out to about 15 points on the first, then around 9 points an Inq after. When the accounts started to post as new it did not seem to make the score go one way or another so maybe the "hit in the score" comes mostly from the inquiry? I am guessing it will take a month to get all these accounts posted to which CRA's they will post but some like AMEX, Macy's and Citi posted before I even got the card in the mail! Macys card has not arrived and my daughter used the account number to purchase this weekend and the amount she put on the card was on the CRA the next day! I could not believe it! Apparently the advantage to having the store cards over paying with debit is they also get more "coupons" for sales as an inducement to using the cards. That is ok with me since all my family is bargain conscious to start with. I never would have imagined I would know what my "credit score" was on a weekly basis! I used to apply for anything and just get what I wanted no problem. So I want to make sure my kids get the best rates on things in the future so the money will buy nicer things (car, home) for the same payment and income! I have to admit when I sat in front  of the computer screen, pushed  the mouse and bingo there was a new account, could really have an effect on someone. I will just keep learning and listening.

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That's the apping addiction you see lots of folks here speak of!! Just kind of a rush seeing that approval.

You have so many new accounts...time to sit back and let them age and grow!

Speaking of age...Did you manage to get your new AMEX to report with your old opening date?

[Anonymous]

    The Amex account I opened 2 weeks ago reports as new, they cannot find the old account number and I have no old records from 10 years ago so it was a no go so far. Wish I could find it since the new accounts brought the AAOA's down by at least 5 years but it has very little impact on the score that I can see. The inquiries are what seem to have had the most impact for my scores. Yes I agree the accounts have to age, but for how long? Hey I am an old geezer and now I understand how certain companies view new requests for credit (many stated must be 90 days between apps for any cards underwritten by them including branded cards) I never got to apply for the 2 I wanted for myself! Oh well.

[ocheosa]

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@Anonymous wrote:

    The Amex account I opened 2 weeks ago reports as new, they cannot find the old account number and I have no old records from 10 years ago so it was a no go so far. Wish I could find it since the new accounts brought the AAOA's down by at least 5 years but it has very little impact on the score that I can see. The inquiries are what seem to have had the most impact for my scores. Yes I agree the accounts have to age, but for how long? Hey I am an old geezer and now I understand how certain companies view new requests for credit (many stated must be 90 days between apps for any cards underwritten by them including branded cards) I never got to apply for the 2 I wanted for myself! Oh well.

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Congratulations on your new accounts!!

Don't give up so easily with AMEX. Give it a month and see if your original member since date shows up on your account summary page. If it does not I would call again and ask to speak to someone in the credit department, explain your situation and ask if they can try to locate your old account by your SS#. It seems some of the accounts are found and some are not.

God bless anyone who is as neurotic as me, but I keep a copy of the credit report pulled by the loan officer in my mortgage file. Maybe you have a copy on file that would have that old amex account number on it? If so, the credit bureau department (yes, amex has their own dept) could possibly find the old account. Or a receipts/statements in your tax files? Just thinking out loud. It would make quite a difference in your AAoA.

Again, congratulations!

Message Edited by ocheosa on 06-19-2009 09:24 PM

[Anonymous]

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@Anonymous wrote:

    The Amex account I opened 2 weeks ago reports as new, they cannot find the old account number and I have no old records from 10 years ago so it was a no go so far. Wish I could find it since the new accounts brought the AAOA's down by at least 5 years but it has very little impact on the score that I can see. The inquiries are what seem to have had the most impact for my scores. Yes I agree the accounts have to age, but for how long? Hey I am an old geezer and now I understand how certain companies view new requests for credit (many stated must be 90 days between apps for any cards underwritten by them including branded cards) I never got to apply for the 2 I wanted for myself! Oh well.

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What is your new AAofAs?  You've managed to keep your scores in the mid 700s even with all the new inquiries and reports. That's a feat in itself! 

I remember seeing a bump in scores at 3 months, then again at 6 months. By 1 year my scores were well above what they had been before opening the new accounts. Of course all of us have very different reports and they will respond differently to specific scenarios. ex. Someone with no credit cards at all will usually see a rise in scores immediately after obtaining a new credit card, this despite the new inquiry.

Many prime lenders are sensitive to new inquiries and new accounts...at least a 6 month wait might have best results when applying for these cards. If there is a specific card you are interested in obtaining I would start a new thread here asking for others experience and advise on when to apply for it.

Good luck to you and your family

[Anonymous]

  Oldest account reporting 10 1/2 years (even though my file is way older that's that) Average age has dropped with the new accounts from 6 1/2 years to 2 1/2 years and will drop some more when the last 2 new accounts show up.

[Anonymous]

Wow...big hit. Too bad AMEX didn't find your ld account info. Keeping my fingers crossed that they still might.