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Frequent Contributor
crosbyk1
Posts: 485
Registered: ‎02-17-2008
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Score went up with 2 new cards add!

I pulled my TU expecting it to take a hit from the two new cards being added. But was pleasantly surprised to see the it had gone up 15 points. What would make that happen? One card was a Best Buy store card (370/3600) and the other was a Amex gold. Does having the Amex charge card help scoring? Also just to let any one know that gets a Best Buy card ask for cli on activation. They only gave me 600 more but i will take it. Thanks 

Starting Score: 744
Current Score: 744
Goal Score: 800


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Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
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Re: Score went up with 2 new cards add!

What are your current FICOs?  Sometimes you will get an add, sometimes not.  I added two cards and $20k in avail credit and my TU dropped six points.  But, my EQ rose by 34. 
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Frequent Contributor
crosbyk1
Posts: 485
Registered: ‎02-17-2008
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Re: Score went up with 2 new cards add!

My TU went from 730 up to 745. 

Starting Score: 744
Current Score: 744
Goal Score: 800


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Moderator Emeritus
beamMEup
Posts: 4,470
Registered: ‎12-31-2008
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Re: Score went up with 2 new cards add!

Crosby - congratulations on your two shiny new cards!  What was your utilization before and after the cards hit your CR?
Just puttin' syrup on something, don't make it pancakes.
Frequent Contributor
Karatz
Posts: 318
Registered: ‎09-25-2008
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Re: Score went up with 2 new cards add!


crosbyk1 wrote:
I pulled my TU expecting it to take a hit from the two new cards being added. But was pleasantly surprised to see the it had gone up 15 points. What would make that happen? One card was a Best Buy store card (370/3600) and the other was a Amex gold. Does having the Amex charge card help scoring? Also just to let any one know that gets a Best Buy card ask for cli on activation. They only gave me 600 more but i will take it. Thanks 

I just picked up 43k in 3 new credit cards. It would be sweet if that happens to me too.

 

 

 

TransUnion/Equifax
746/754
Date: 9/24/2009/10/02/2009
Frequent Contributor
crosbyk1
Posts: 485
Registered: ‎02-17-2008
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Re: Score went up with 2 new cards add!

Thanks... My utilization went from 9% down to 8%. Is that what did it a 1% change gave me 15 points?

Starting Score: 744
Current Score: 744
Goal Score: 800


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Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Score went up with 2 new cards add!

You may see a FICO increase when new cards begin to report if you:

1) Have a very low number of reporting revolving TL's (up to three or so), or

2) Carry revolving balances and thereby reduce your UTIL %.

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Score went up with 2 new cards add!


crosbyk1 wrote:
Thanks... My utilization went from 9% down to 8%. Is that what did it a 1% change gave me 15 points?

 

That's part of the 15 points, but maybe not all. The rest could have been achieved by things aging.

 

Do you have any derog's on your CBR's?

Frequent Contributor
crosbyk1
Posts: 485
Registered: ‎02-17-2008
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Re: Score went up with 2 new cards add!

I have never had any derog's and my reports are very clean. Maybe it was the age of a account that updated. 

Starting Score: 744
Current Score: 744
Goal Score: 800


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Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Score went up with 2 new cards add!

With no derog's you are in a positive scoring bucket. Positive bucket scoring changes seem to be more sensitive to UTIL % fluctuations than negative bucket scoring changes are. (I hope that makes sense...)

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