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New Contributor
Want2BDebtFreeNow
Posts: 73
Registered: ‎10-15-2007
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Sept 2006 - Last time I applied for a credit card!

3 years of "sobriety". The cool part about it is that I don't have any desire to apply for one.  Every once in a while I get the itch, but with the current credit market I know it would be a waste of an INQ.  Plus I do want to get to the 2 year mark with NO inq period on my credit report.  All the ones on there now are from trading veh's, another bad habit that I am trying to break.  In July of 2010 I will have had my car for 2 years! yay! 

 

Anybody else care to share their "sobriety" story? :-)

As of 11/14/2012 EQ: 672

5 inqs in the last year - October 25, 2012, July 05, 2012, July 03, 2012, June 18, 2012, February 16, 2012

(Report reads them as 3) Your applications for credit in the past year
3 inquiries

Last account opened June 2012

Average age of your accounts
6 years

Number of your accounts with a missed payment
0 accounts

Ratio of your revolving balances to your credit limits
82% (Ouch)
Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
0

Re: Sept 2006 - Last time I applied for a credit card!

Wow - that is what I call SELF-RESTRAINT!!!!
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Frequent Contributor
DickC
Posts: 260
Registered: ‎05-21-2009
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Re: Sept 2006 - Last time I applied for a credit card!


Want2BDebtFreeNow wrote:

3 years of "sobriety". The cool part about it is that I don't have any desire to apply for one.  Every once in a while I get the itch, but with the current credit market I know it would be a waste of an INQ.  Plus I do want to get to the 2 year mark with NO inq period on my credit report.  All the ones on there now are from trading veh's, another bad habit that I am trying to break.  In July of 2010 I will have had my car for 2 years! yay! 

 

Anybody else care to share their "sobriety" story? :-)


 

I have not applied for Credit since Feb 2001. That was not even a credit card, but was actually an application to join a Country Club and they wanted to do a credit check.

 

We are very happy with our CC's (we have just 4) and I have turned down all CLI's offers as we have no need for it.

 

 

New Contributor
Want2BDebtFreeNow
Posts: 73
Registered: ‎10-15-2007
0

Re: Sept 2006 - Last time I applied for a credit card!

That is my goal, 7 more years down the road be able to say the last time I got a cc was 10 years ago! by then the only thing that will be on my credit report should be the open credit card accounts as all the other accounts should have dropped off by then (all paid on time) but I have tons and tons of c cc's reporting on my credit report from the days I didnt know any better. I thought the more the better.
As of 11/14/2012 EQ: 672

5 inqs in the last year - October 25, 2012, July 05, 2012, July 03, 2012, June 18, 2012, February 16, 2012

(Report reads them as 3) Your applications for credit in the past year
3 inquiries

Last account opened June 2012

Average age of your accounts
6 years

Number of your accounts with a missed payment
0 accounts

Ratio of your revolving balances to your credit limits
82% (Ouch)
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Sept 2006 - Last time I applied for a credit card!

That's a worthy goal. I have 11 TL's reporting on EQ and EX and 10 on TU. All but one are open, and that one was closed by me years ago to avoid an RJ. It feels good to be a master of your own destiny (more or less).  :smileywink:
Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
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Re: Sept 2006 - Last time I applied for a credit card!

I'm more into a good FICO score.  But, that may mean laying off and following your lead, OP!!!
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
0

Re: Sept 2006 - Last time I applied for a credit card!

[ Edited ]

No more apping for me!!  I just checked  Credit Karma and my AAoA has gone from 4 years to 2yrs 9mths.    But, strangely my credit score with CK increased.

I'm not sure how AAoA works.  Can someone confirm that my AAoA will go back up to 4 years after 1 year 3 mths?

Message Edited by DI on 10-08-2009 05:42 AM
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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Sept 2006 - Last time I applied for a credit card!


DI wrote:

No more apping for me!!  I just checked  Credit Karma and my AAoA has gone from 4 years to 2yrs 9mths.    But, strangely my credit score with CK increased.

I'm not sure how AAoA works.  Can someone confirm that my AAoA will go back up to 4 years after 1 year 3 mths?



As long as you don't have any new accounts appear on your reports, and as long as any old ones don't drop off, your AAoA should go up by one month every month.


Sort of a general aside: don't forget that if and when your next oldest account falls off, you'll still have the same length of history (from the older account remaining), but you might well lose some AAoA. The fewer accounts you have, the more impact on the average age when an older one falls off, or when an entire account is removed. I think lots of people forget that part.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
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Re: Sept 2006 - Last time I applied for a credit card!


haulingthescoreup wrote:

DI wrote:

No more apping for me!!  I just checked  Credit Karma and my AAoA has gone from 4 years to 2yrs 9mths.    But, strangely my credit score with CK increased.

I'm not sure how AAoA works.  Can someone confirm that my AAoA will go back up to 4 years after 1 year 3 mths?



As long as you don't have any new accounts appear on your reports, and as long as any old ones don't drop off, your AAoA should go up by one month every month.


Sort of a general aside: don't forget that if and when your next oldest account falls off, you'll still have the same length of history (from the older account remaining), but you might well lose some AAoA. The fewer accounts you have, the more impact on the average age when an older one falls off, or when an entire account is removed. I think lots of people forget that part.

Ok.  I 'm still waiting for the PenFed and GM card to appear.  So I guess my AAoA will decrease 2 months for two cards opened the same month, or is it just 1 month?

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
0

Re: Sept 2006 - Last time I applied for a credit card!


DI wrote:

Ok.  I 'm still waiting for the PenFed and GM card to appear.  So I guess my AAoA will decrease 2 months for two cards opened the same month, or is it just 1 month?


It's not that simple. It is most likely going to be more than a two month decrease. The two new, yet to show up TL's will be adding two more zeroes to the top part of your fraction and adding 2 two the bottom part. If you know how many open and closed TL's were included in that 2y 9m it can be figured out. (That would be the total number of all open and closed TL's of all types reporting on your CBR.) Hopefully it stays above 2y for you!

 

(According to my back of the envelope calculation the AAoA of accounts would only go down by 2 m if it is currently based on 31 reporting TL's!)


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