10-01-2009 05:06 PM
10-01-2009 05:29 PM
10-02-2009 12:32 AM
10-02-2009 02:13 AM
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.
10-02-2009 09:46 AM
10-02-2009 09:47 AM
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 %.
10-02-2009 09:50 AM
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?
10-02-2009 10:59 AM
10-02-2009 11:05 AM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO