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haulingthescoreup
Posts: 28,114
Registered: ‎04-01-2007

Re: The real problem will be


Ulan wrote:


thelopez08 wrote:

btw, if we choose to not activate a particular card, that account will vever be reported to the cra's, correct? 


Well, you already get the hit for the inquiry, and if all that's missing is the activation, I would also expect it to report. It depends a bit on the issuer. I heard that some cards come pre-activated, anyway, regardless what they tell you.



99.9% of cases, it will report. If you apply for it and you're approved, you'll be looking at it for the next ten years on your reports.

Unfortunately, buyer's remorse doesn't keep the account from reporting. Your credit reports are listing credit you asked for, so it will be on there, unless you get lucky.

If you're declined, though, all that will report is the inq. Strange, isn't it?

I did an app blitz, too. I never recommend them on a general basis, but sometimes, for very specific situations, they make sense.
* 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
Established Member
thelopez08
Posts: 11
Registered: ‎01-17-2008

Re: The real problem will be

well, if the accounts will report, we'll activate them all.

 

i don't think you were reffering to our situation as "buyers remorse", because that's not the case. it's just that some of the offers are better than others. "cherry-picking" would be a better term for how we are feeling right now.

Frequent Contributor
likewise
Posts: 454
Registered: ‎08-18-2008

Re: The real problem will be

Seems to me that if you have the credit you want, you use it wisely, you don't want any more credit, what would be the difference if you lose those points?  It can be just a numbers game, with no return on investment in keeping 800s if you don't use your credit. Other than being ABLE to get new credit (and keep your credit limits) what are FICO scores for?

 

I don't see a down side to getting those TLs now and using them carefully, especially if you don't think you need to buy a house or a car for a few years.

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haulingthescoreup
Posts: 28,114
Registered: ‎04-01-2007

Re: The real problem will be


thelopez08 wrote:

well, if the accounts will report, we'll activate them all.

 

i don't think you were reffering to our situation as "buyers remorse", because that's not the case. it's just that some of the offers are better than others. "cherry-picking" would be a better term for how we are feeling right now.



Good point!
* 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
Established Member
thelopez08
Posts: 11
Registered: ‎01-17-2008

Re: The real problem will be

update: just received equifax score watch alert. discover pulled eq and dropped my score 3 points. i'm thinking that if the others had pulled eq, i would have been notified, don't you thnk? i actually wouldn't mind if the balance of them hit ex, 'cause then i'll freeze them and maintain "good" eq and tu scores. 

 

keeping my fingers crossed it plays out like that... 

Established Member
thelopez08
Posts: 11
Registered: ‎01-17-2008

Update: inquiry distribution

so far, here is the inq spread:

 

amex blue -> EX -> approved

citi -> EX -> approved

chase -> EX -> approved (had to ask for recon based on denial due to # of inq's)

local bank -> EX -> still being processed

discover -> EQ -> approved 

local cu -> ? -> still being processed

 

i like the way this played out, wouldn't you agree? nothing touched our highest score from tu! so now, the question becomes what the impact will be when the new tl's report?

 

also, i froze experian today. in the future, i will not do business with anyone pulling exclusively (with exception of any potential mortgage is suppose) from them... 

Valued Contributor
jmbfl
Posts: 1,185
Registered: ‎03-04-2008

Re: Update: inquiry distribution


thelopez08 wrote:

so far, here is the inq spread:

 

amex blue -> EX -> approved

citi -> EX -> approved

chase -> EX -> approved (had to ask for recon based on denial due to # of inq's)

local bank -> EX -> still being processed

discover -> EQ -> approved 

local cu -> ? -> still being processed

 

i like the way this played out, wouldn't you agree? nothing touched our highest score from tu! so now, the question becomes what the impact will be when the new tl's report?

 

also, i froze experian today. in the future, i will not do business with anyone pulling exclusively (with exception of any potential mortgage is suppose) from them... 


An interesting attempt at a boycott. Too bad it will be of little effect other that to severely limit your credit choices.

 

Would you kindly post your approved CL from Discover when you know it? Many here will be interested to know.

Established Member
thelopez08
Posts: 11
Registered: ‎01-17-2008

Re: Update: inquiry distribution

in case you havn't noticed, i really don't need any more credit... 

 

i've decided not to disclose individual account #'s, but so far, we are over 20k in total. 

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haulingthescoreup
Posts: 28,114
Registered: ‎04-01-2007

Re: Update: inquiry distribution


jmbfl wrote:

An interesting attempt at a boycott. Too bad it will be of little effect other that to severely limit your credit choices

There are boycotts meant to attempt to force an entity into changing its behavior, and there are boycotts based simply on one's refusal to support a certain business and its behavior.

Frankly, I don't think that there are enough consumers aware of the issue of lack of access to one's FICO EX score who are willing to boycott that will create a change in Experian's actions. Possibly media pressure might do something.

I just support or refuse to support various entities, simply because I like to choose who gets my money and who doesn't.

I don't expect my actions to change the world. I just want to be able to face myself in the mirror and to sleep at night.
* 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

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