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Frequent Contributor
obageegee
Posts: 270
Registered: ‎09-30-2012
0

Just curious. How much will a $10,000 TL increase CS?

Just curious, I'm still in the garden but there is one card out there that I think will get me a $10,000 TL.



Starting Score: 530 - 2/12
Current Score: EX - 720 EQ - 714 TU-690 WM-720
App free since 5/7/2014
Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012
0

Re: Just curious. How much will a $10,000 TL increase CS?

Yes off course maybe more 

http://www.americanexpress.com/lacidc/iccsite/american_express_centurion_card_benefits.shtml


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
0

Re: Just curious. How much will a $10,000 TL increase CS?

How much will it increase your Score are you asking?

 

It all depends on your UTIL.  If you're already lower than 9% it will probably drop your score, due to HP and new account hitting AAoA

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Frequent Contributor
obageegee
Posts: 270
Registered: ‎09-30-2012
0

Re: Just curious. How much will a $10,000 TL increase CS?

My question is, If approved, how much would my scrore increase?



Starting Score: 530 - 2/12
Current Score: EX - 720 EQ - 714 TU-690 WM-720
App free since 5/7/2014
Frequent Contributor
obageegee
Posts: 270
Registered: ‎09-30-2012
0

Re: Just curious. How much will a $10,000 TL increase CS?

My utilization is higher than 9% (more like 30%) So I'm only assuming that it will drop my utilization a ton since I only have about 20k out there.



Starting Score: 530 - 2/12
Current Score: EX - 720 EQ - 714 TU-690 WM-720
App free since 5/7/2014
Established Contributor
swpopham
Posts: 550
Registered: ‎06-02-2012
0

Re: Just curious. How much will a $10,000 TL increase CS?

You never know but it will prob drop 10-15pts initially
"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
0

Re: Just curious. How much will a $10,000 TL increase CS?

A 10k CL will put you around 20% UTIL then.  That will definitely help, but I'd think it would be more of a wash because of the inquiry and new account.  Over time obviously it will help, but right away not much.  If you can pay your UTIL down below 10% AND you add the 10k?  That might be a bump

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Valued Contributor
FinStar
Posts: 5,413
Registered: ‎10-21-2012
0

Re: Just curious. How much will a $10,000 TL increase CS?


Jutz wrote:

How much will it increase your Score are you asking?

 

It all depends on your UTIL.  If you're already lower than 9% it will probably drop your score, due to HP and new account hitting AAoA


If the question is associated with your FICO score, no one has an exact answer that can be provided on this forum.  Merely speculative guesses can be assessed.  The only sure method to know is whenever you apply.  And, as noted by Jutz above, it all depends on your overall credit profile during the time of acquiring such a tradeline.  Unfortunately, no crystal ball exists that can predict with exact science the specific drop or increase on your score, even with most consumer score-modeling tools around.

Frequent Contributor
obageegee
Posts: 270
Registered: ‎09-30-2012
0

Re: Just curious. How much will a $10,000 TL increase CS?

ok fair enough. Thanks



Starting Score: 530 - 2/12
Current Score: EX - 720 EQ - 714 TU-690 WM-720
App free since 5/7/2014
Established Contributor
cashnocredit
Posts: 1,024
Registered: ‎07-18-2009
0

Re: Just curious. How much will a $10,000 TL increase CS?


nicholasyud wrote:

Yes off course maybe more 

http://www.americanexpress.com/lacidc/iccsite/american_express_centurion_card_benefits.shtml


Amex's Cent won't help EQ FICO. Nor will any other Charge cards. Ya need a revolver.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k

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