Got Ex FICO from AmEx!

[SimonP]

I just got my letter as well. My EX Fico score was 754, and I had a Chase inquiry one day before Amex! I have been approved for BCP with 15K limit.

My reasons are pretty much the same:

•  Length of time accounts have been established.
•  Lack of recent installment loan information.
•  Too few accounts currently paid as agreed.
•  No recent revolving balances.
•  Too many inquiries in the last 12 months.

So I guess only the 4th reason is different than yours.

[quest208]

what does amex consider "too many inquiries"

is 1 too many?

[PetRaccoon]

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@quest208 wrote:

what does amex consider "too many inquiries"

is 1 too many?

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Evidently cause I had one also.

[dalebb]

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@PetRaccoon wrote:

Oddest thread derailment of Dec '11

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[Anonymous]

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@SimonP wrote:

I just got my letter as well. My EX Fico score was 754, and I had a Chase inquiry one day before Amex! I have been approved for BCP with 15K limit.

My reasons are pretty much the same:

•  Length of time accounts have been established.
•  Lack of recent installment loan information.
•  Too few accounts currently paid as agreed.
•  No recent revolving balances.
•  Too many inquiries in the last 12 months.

So I guess only the 4th reason is different than yours.

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Very nice, Congrats on the BCP, it's an excellent cash rewards card, and very nice CL as well.

Congrats and Happy Holidays.

[andyaycw]

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@PetRaccoon wrote:

766! After an INQ from Chase. (Guess it would have been higher, I'm amazed, I thought Ex was the harshest of three CRAs)

I just wish chase included an Ex FICO to compare.

Key factors that affected my score:

Too few accounts paid as agreed. (Guess that means I have too few accounts period..)

Lack of recent installment loan information (I never had one.. Don't know how this really affects my score, unless they want me to have one?)

Length of time accounts have been established (Guess 2.4rs IS pretty short..)

Too many inquiries in the last 12 months (I had one at Chase, thats too many??)

Okay so I guses thats a lesson for me in the future.. Apply for AmEx 1yr or so apart from other INQ..

Let my accounts age...

Get an installment loan?? (Uh..?)

I hope 3 accounts will break me out of the "too few accounts"..

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OP has a 766 EX FICO with only a 2.5 year credit history? That's gotta be a record of some sort - what are your EQ and TU FICOs?

[PetRaccoon]

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@andyaycw wrote:

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@PetRaccoon wrote:

766! After an INQ from Chase. (Guess it would have been higher, I'm amazed, I thought Ex was the harshest of three CRAs)

I just wish chase included an Ex FICO to compare.

Key factors that affected my score:

Too few accounts paid as agreed. (Guess that means I have too few accounts period..)

Lack of recent installment loan information (I never had one.. Don't know how this really affects my score, unless they want me to have one?)

Length of time accounts have been established (Guess 2.4rs IS pretty short..)

Too many inquiries in the last 12 months (I had one at Chase, thats too many??)

Okay so I guses thats a lesson for me in the future.. Apply for AmEx 1yr or so apart from other INQ..

Let my accounts age...

Get an installment loan?? (Uh..?)

I hope 3 accounts will break me out of the "too few accounts"..

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OP has a 766 EX FICO with only a 2.5 year credit history? That's gotta be a record of some sort - what are your EQ and TU FICOs?

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Check Siggy.

I've never had an AU account reporting.

Edit: Although my mom has been an AU on my HSBC card since I got it, I don't know if that matters at all..

[JusdoNit]

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@PetRaccoon wrote:

Thank you all! Credit education from these forums is <3! Glad I came here before I friviously applied at random places lol.

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Maaannnnn. Wish I would have known about ther forum here.  I surely would not have 21 inquiries and all of them from this year.  Guess, Im ending this year with a bang.LOL 

[PetRaccoon]

Need opinions:

4-8 mo down the line, should I apply for the Sapphire (Preffered) card? (Most likely want my cards to age a bit first..)

I have a trip planned to Vegas in Aug for the Star Trek Convention..

Going to be dining out alot, going to have to order plane tickets, dining out ect...

Is it worth it just to keep for a year? (Cancel before AF, or try to get AF waived for good payment history and banking with Chase)

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Also, think the Walmart store card is worth apping for just for the TU08 FICO? (Most likely going to App for this after my trip.. I don't have a NEED to know what it is..) I have a general idea with the CK TransRisk score of 764 and my TU98 FICO below.

[CS800]

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@MarineVietVet wrote:

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@CS800 wrote:

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@android01 wrote:

Installment loans carry more weight in FICO scoring as they tend to be for a long period of time and they demonstrate that you meet your commitments over that time.  They are a better indicator of your reliability as a debtor.  In order of importance and heavier weighting for FICO scoring:

Mortgage

Installment Loans

Credit Cards (Bank)

Retail Cards

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+1

This is how it is ranked on Experian

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Is this from the EX website? Remember that the scores and credit advice from EX are to be ignored. The PLUS score formula looks at factors much differently than FICO scoring.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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Yes EX ranks it this way .Credit cards are third on the list.