No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Actually looking at my paperwork from the Walmart acceptance letter, it looks as though my score only increased 12 points from when I apped (which was on the 13th). I guess this also confirms that GECRB is using TU08 for it's approvals.
Congrats on the 16 pt increase and the loss of the derog.
I can understand the slight disappointment, but interestingly, the fact that the account was older may have caused your AAoA to decrease a bit when it fell off. That could have lessened the positive impact of the loss of the derog.
Mostly, I'd bet you were rebucketed. You probably looked alright for the "dirty report" crowd, but now you're part of the "clean crowd" and have a lot more "competition" there. Think of it as the big fish in the little pond just got moved to a bigger pond--that fish doesn't seem so big anymore.
The very good news is that now your score can increase a lot farther than it ever could have in your old bucket. And like you said, inq's aren't the end of the world. Let those previous inquiries all age to a year and then start considering looking for credit again.
@atarvuzdar wrote:Congrats on the 16 pt increase and the loss of the derog.
I can understand the slight disappointment, but interestingly, the fact that the account was older may have caused your AAoA to decrease a bit when it fell off. That could have lessened the positive impact of the loss of the derog.
Mostly, I'd bet you were rebucketed. You probably looked alright for the "dirty report" crowd, but now you're part of the "clean crowd" and have a lot more "competition" there. Think of it as the big fish in the little pond just got moved to a bigger pond--that fish doesn't seem so big anymore.
The very good news is that now your score can increase a lot farther than it ever could have in your old bucket. And like you said, inq's aren't the end of the world. Let those previous inquiries all age to a year and then start considering looking for credit again.
I was under the impression that collections weren't included in the AAoA calculation...
@atarvuzdar wrote:Congrats on the 16 pt increase and the loss of the derog.
I can understand the slight disappointment, but interestingly, the fact that the account was older may have caused your AAoA to decrease a bit when it fell off. That could have lessened the positive impact of the loss of the derog.
Mostly, I'd bet you were rebucketed. You probably looked alright for the "dirty report" crowd, but now you're part of the "clean crowd" and have a lot more "competition" there. Think of it as the big fish in the little pond just got moved to a bigger pond--that fish doesn't seem so big anymore.
The very good news is that now your score can increase a lot farther than it ever could have in your old bucket. And like you said, inq's aren't the end of the world. Let those previous inquiries all age to a year and then start considering looking for credit again.
Definitely agree, i would have to say its because of the rebucketing and now you have an opportunity to go even higher now.
Congrats
@Anonymous wrote:I think my INQs may be pulling me down too. Like an dummy, before I found this site I couldn't realize why I was getting declined for cards. So I apped alot until finally I decided to pull my reports and found the collection. Disputed it a month ago, came off this week. But I still have the wasted INQs that I can't undo.
Your more than likely being dinged for "seeking credit". I'd pull your TU98 FICO report and it will give you the reasons why your score is what it is.
I figured that. I'm just surprised that it's having such a big effect.
@LS2982 wrote:
@Anonymous wrote:I think my INQs may be pulling me down too. Like an dummy, before I found this site I couldn't realize why I was getting declined for cards. So I apped alot until finally I decided to pull my reports and found the collection. Disputed it a month ago, came off this week. But I still have the wasted INQs that I can't undo.
Your more than likely being dinged for "seeking credit". I'd pull your TU98 FICO report and it will give you the reasons why your score is what it is.