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Established Contributor
emptypockets
Posts: 989
Registered: ‎02-03-2009
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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, Nordstrom Visa,US Bank Cash+, Chase (5), Huntington Voice, UMB Visa, Nasa FCU Plat Cash Visa, Barclay's Visa, Citi (4), 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, Macy's AMEX; Several store cards.

Current Scores: EQ (6/14): 800; TU MyFico (6/14): 814; Walmart TU Fico 08 (10/2014): 813; EX (6/14): 775
Established Member
hussain99
Posts: 32
Registered: ‎11-20-2012
0

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

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

Frequent Contributor
AF_23
Posts: 288
Registered: ‎02-06-2012
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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

Established Contributor
rtw
Posts: 797
Registered: ‎05-01-2012
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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
Moderator
Revelate
Posts: 9,486
Registered: ‎12-30-2011
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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 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Regular Contributor
cowboyguy
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...
Frequent Contributor
pdog661
Posts: 377
Registered: ‎03-31-2012
0

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. 

Frequent Contributor
pdog661
Posts: 377
Registered: ‎03-31-2012
0

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
cowboyguy
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...
Valued Contributor
bs6054
Posts: 1,673
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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