@Anonymous wrote:
@chalupaman wrote:
@Anonymous wrote:
@Anonymous wrote:
Seems like the general consensus is not "apping" for a number of cards. When I called for an increase on my WF account the CSR commented on the amount of cards I had. She said "Wow, you have a lot of cards here but you manage them very well. I can see why you don't use our card with the limit you have with us." Seems to me like there is a lot of also other risks factored in to get your accounts shut down.Yup. And another added bonus with having so many accounts is that people are inherently lazy.
When underwriters/analysts see so many open accounts, they aren't going to waste their time going through all the accounts one by one. The fact that I have mostly store cards doesn't even register with these guys because it's all counted for under "revolving credit".
So these lazy underwriters think I actually have 86 real credit cards and think I'm a master of managing my credit lines...lol..
These analysts/underwriters are too lazy to go through each page of a 70 page credit report so I get away with alot due to innate human laziness
Never thought of it from that angle at all. How many of those cards are really old by your standards?
I got 3 in on the AMEX BD
I thrashed my AAoA down to slightly less than a year.
That's when I realized AAoA bonus is no big deal and actually offset by mega-quanity bonus. In a few years I'll have both AAoA bonus and mega-quantity bonus
My AAoA is the same for the most part. What mega bonus are you referring to?
@chalupaman wrote:My AAoA is the same for the most part. What mega bonus are you referring to?
You get a FICO bonus for every positive tradeline you add. Most people say you need 3 credit cards to maximize your FICO. In reality you continue getting points for every psotitive tradeline older than 6 months. You don't get as many points but you do continue getting extra points.
I should be nowhere near 775 FICO with my <1 year AAoA but I get bonus points for having so many accounts.
It's no secret that all the 800+ FICO'ers have either a) ALOT more credit cards than 3 or b) have a 8+ year AAoA
I am guessing I should be over 800 once my AAoA reaches 2 years due to my "mega number of accounts" bonus....seems like the quickest way to 800 in my opinion as opposed to the "3 credit cards for maximum scoring" general suggestion.
I actually believe it's a loophole in the FICO '08 scoring model... I shouldn't be anywhere near a 775 score but I am They'll probably nerf it in the next version but by then I should be well into 5 year AAoA on 86 accounts
@Anonymous wrote:
@chalupaman wrote:My AAoA is the same for the most part. What mega bonus are you referring to?
You get a FICO bonus for every positive tradeline you add. Most people say you need 3 credit cards to maximize your FICO. In reality you continue getting points for every psotitive tradeline older than 6 months. You don't get as many points but you do continue getting extra points.
I should be nowhere near 775 FICO with my <1 year AAoA but I get bonus points for having so many accounts.
It's no secret that all the 800+ FICO'ers have either a) ALOT more credit cards than 3 or b) have a 8+ year AAoA
I am guessing I should be over 800 once my AAoA reaches 2 years due to my "mega number of accounts" bonus....seems like the quickest way to 800 in my opinion as opposed to the "3 credit cards for maximum scoring" general suggestion.
I actually believe it's a loophole in the FICO '08 scoring model... I shouldn't be anywhere near a 775 score but I am They'll probably nerf it in the next version but by then I should be well into 5 year AAoA on 86 accounts
I hope that theory holds true as more of my stuff gets past the six month mark as I've opened TLs largely at around the same time as each other. My US Bank card for example turns six months this month.
@Anonymous wrote:
@taxi818 wrote:
@Anonymous wrote:
@taxi818 wrote:
@woodyman100 wrote:
with all of the posts about AA lately, I'm wondering how many large portfolios have NEVER experienced AA.
By large portfolio, I mean more than 15 cards aquired in a 2-3 year span.
I'm actually surprised that hasn't happened to me.
I have been chastised by CSR's quite a bit lately for my available credit and open accounts.
Quite frankly I wouldn't care too much about AA unless it was Chase or Barclay.
Yeeeeeeaaaaahhhhhh.......uh huh......I knowWell I got 19 cards. 13 banks and 6 store or co branded ball in 18 months. No AA. In fact I got credit limit increases on every one of them. Including barclays. No one ever said anything.
Even DC?
Good reminder nixon. No. Nothing on dinersclub. Since hidden I tend to forget about it. But I'm gonna call when I get home. It's been almost 8 months now. They said they like to see 6 months of history.
You sure you wanna poke that bear?
Yes. You are right. I should leave then alone. Hehehe. I went online. There is no way to ask for cli. I would have to call. I'll wait until 1 year mark.