Credit Cards

[crosbyk1]

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 

[pattycake]

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. 

[crosbyk1]

My TU went from 730 up to 745. 

[beamMEup]

Crosby - congratulations on your two shiny new cards!  What was your utilization before and after the cards hit your CR?

[Karatz]

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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 

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

[crosbyk1]

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

[creditwherecreditisdue]

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 %.

[creditwherecreditisdue]

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

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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?

[crosbyk1]

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

[creditwherecreditisdue]

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...)