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Re: Random questions that don't deserve a separate thread

[ Edited ]

 

 


cowboyguy wrote:

Post your random questions here, which you think don't deserve their own thread. I'll start off with the following:

 

1)      Is there a general consensus on this forum regarding the minimum credit score for getting U.S Bank Cash+ Visa Signature Card? I would agree 720ish is around the minimum for this card. I read 2-3 other CC forums, and this seems to be the lowest I have seen. Keep in mind, they also may pull a ARS (Advanced Recovery Systems) report on you. This is a CRA that tracks Visa/MC apps, etc. so if you have a lot of recent apps/approvals for Visa/MC, this may be a factor. Also, it seems people with lower scores, lower AAOA, & shorter credit files are getting denied, or approved for the Cash Preferred (lower tier) card. Some getting that lower card have re-conned into Cash +, so YMMV.

 

2)      For how long do you need to have a Chase card before requesting for a CLI?  I cannot say for sure, but I opened a Freedom 6/12, and received a 2.2k auto CLI this month, with moderate usage.

 

3)      For how long do you need to have a U.S Bank card before requesting for a CLI? Again, a can only offer day my experience, but they also gave a decent (3.5k) auto CLI, after the account was open 3 months. Account was opened 6/12.  From what I have seen posted on other boards, lots of people got auto CLI'd at 3 months.

 

4)      For how long do you need to have a Citi card before requesting for a CLI? 6 months

 

5)      Do the following lenders do a SP or HP whenever requesting for CLI?

 

a)      Amex - SP

b)      Chase - HP for customer requested CLI

c)       U.S. Bank -  not sure

d)      Citi - SP

e)       Capital One - no experience with them, never got a CLI 


 


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (4), Chase (6), Nordstrom Visa,US Bank Cash+, Huntington Voice, UMB Visa, Nasa FCU Plat Cash Visa, Barclay's Visa, Citi (5), Discover IT, Walmart Discover, Sam's MC, Cabela's Visa, Cap One QS, BOA (2), BMW Visa, Comenity Visa/MC (3), Ebates Visa Siggy, 5/3 RLR MC, DC Premier MC, Macy's AMEX; A few store cards.

Current Scores: EQ My Fico (12/14): 785; TU MyFico (12/14): 793; EX (My Fico): 765; Walmart TU Fico 08 (1/2015): 788
Established Member
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Registered: ‎11-20-2012
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Re: Random questions that don't deserve a separate thread

Does USAA ask for pay-stubs while applying for membership or CC?

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Re: Random questions that don't deserve a separate thread


djrez4 wrote:

rtw wrote:

How many inquiries on EX is too many for AmEx?


Not 9.


Wow

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Re: Random questions that don't deserve a separate thread

Do other creditors view accounts opened with AmEx that are backdated as new accounts?


Starting Score: EX: 575 (PSECU 5/2/12) TU: 582 (3/6/12) EQ: 664 (4/27/12)
Current Score: EX: 699 (PSECU 06/04/14) 702 (my FICO 08/05/14) TU: 699 (08/01/14) EQ: 675 (07/08/14)
Goal Score: 720
20K PSECU 7/12 | 12K USAA 9/12 | 11K BOA 1-2-3 9/12 | 9K Citi HHonors 9/12 | 8.5K Citi AAdvantage 5/08 | 5K Chase Sapphire Pref. 9/12 | 3.8K Barclays USAir 7/12 | 6K Walmart Dis. 11/12 | 1K Amex SPG 11/12 | 2K Amex BCP 1/13
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Re: Random questions that don't deserve a separate thread


rtw wrote:

Do other creditors view accounts opened with AmEx that are backdated as new accounts?


On a manual review almosr certainly.  Automated computer based decision, YMMV depending how they analyze the tradeline.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 683, EQ 8 690, TU 710, EX 715 (01/01/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Regular Contributor
Posts: 197
Registered: ‎07-26-2012
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Re: Random questions that don't deserve a separate thread

What does the bolded part mean?

 

"Inquiries remain on your credit report for 2 years but only affect your credit score for 1 year"

 

I didn't get it. I've always heard an inquiry reduces the credit score immediately by a few points, but the credit score jumps up once a few months pass. How does 1 YEAR come in to play?

Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
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Re: Random questions that don't deserve a separate thread

I had 11, only 4 or which were in year 1, but they approved me for a 4K CLI from AMEX. 

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Registered: ‎03-31-2012
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Re: Random questions that don't deserve a separate thread

The HP remain on your credit file for 2 years, but are only calculated into your fico score for 1 year.

 

Lenders may still not like to see all the pulls, but your fico score will recover fully after 1 year of the HP. 

Regular Contributor
Posts: 197
Registered: ‎07-26-2012
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Re: Random questions that don't deserve a separate thread

So you mean I will actually see an increase in my FICO score by x points as a result of a HP that decreased my FICO score by x points today?

 

Consider this hypothetical scenario. I applied for CC today & the HP reduced my FICO by 3 points. Exactly after one year, I will see an increase in my FICO by 3 points only because this HP would expire at that time. Am I right? 

Walmart Discover $10,000... Chase SW $8,500... Freedom $7,000... CSP $6,000... Amex Delta $3,000... Amex BCP $2,000... Local CU $1,500...
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Registered: ‎11-11-2012
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Re: Random questions that don't deserve a separate thread


cowboyguy wrote:

So you mean I will actually see an increase in my FICO score by x points as a result of a HP that decreased my FICO score by x points today?

 

Consider this hypothetical scenario. I applied for CC today & the HP reduced my FICO by 3 points. Exactly after one year, I will see an increase in my FICO by 3 points only because this HP would expire at that time. Am I right? 


Well, none of us here know the exact calculation, we do know that HP last a year, but it's possible that they get less weight as the year goes on (or not).  But in general after a year the damage done by the HP is completely undone.

 

Hard to test of course, as many other factors, including things like the AAoA would also increase a year, even if you kept everything else the same.

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