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Frequent Contributor
shalane85
Posts: 271
Registered: ‎06-19-2008

applied for new credit---score goes up 14 pts!

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‎03-03-2009 03:08 PM

I was approved for a new macys card and hsbc card within the last month. Today I got an alert that my fico score was up 14 points. I thought my score would go down with new credit on my CR. Interesting.
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Starting Score: 472
Current Score: 628
Goal Score: 680

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Starting Score: EQ FICO 470 TU FICO 482 7/15/2011
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Established Contributor
VEEnVEGAS
Posts: 645
Registered: ‎10-24-2007

Re: applied for new credit---score goes up 14 pts!

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‎03-03-2009 08:14 PM

Just curious...what was your average age of accounts before apping?

 

 Congratulations on the new cards and on the new scores!

 

 

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Frequent Contributor
shalane85
Posts: 271
Registered: ‎06-19-2008

Re: applied for new credit---score goes up 14 pts!

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‎03-04-2009 05:05 AM

How do you calcualate that? Do I count all cards even if they have been closed?

 

Capitol One June 2003 closed

Orchard Bank 2005

Macys 2005 closed

Capitol One December 2007

Capitol One July 2008

Macys Feb 2009

Credit One 2009

-------------------------------------------------------------------------------------------------
Starting Score: 472
Current Score: 628
Goal Score: 680

Take the FICO Fitness Challenge





Starting Score: EQ FICO 470 TU FICO 482 7/15/2011
Current Score: EX ?? /EQ FICO 628 / TU ??
Goal Score: 680 across the board!

Navy Federal nRewards $500 cl
Capitol One Platinum (AU) $7500 cl
USAA Amex $250
Kay Jewelers $900
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Moderator Emeritus
ByrdMan
Posts: 7,975
Registered: ‎12-19-2007

Re: applied for new credit---score goes up 14 pts!

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‎03-04-2009 07:08 AM

Yes, all accounts open or closed count, this means installment loans too. Do it in terms of months, then divide by 12 to state it in years. CAs and PRs don't count.
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Do what is true in spite of the consequences--your future is only as true as you are.
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Established Contributor
VEEnVEGAS
Posts: 645
Registered: ‎10-24-2007

Re: applied for new credit---score goes up 14 pts!

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‎03-04-2009 10:40 AM

If you carry balances on your cards your scores would increase due to increased CLs reducing overall utilization.
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