new account-up's score

[PRILEY]

The citi forward with a 6k limit just started reporting and my score went up one point. I sort of thought it would go down a bit cause of the new credit and inquiriy thing.696 to 697.So I'm hoping my 21 yr back dated Amex Blue with 20k limit will propell me forward into the fico stratosphere. I need to refinance for a lower rate and friggin equifax won't remove the paid tax lien filed 2002 but paid 2005, said it's 7 years from paid date geesh ! ! That is holding my EQ score back so badly. Tu was 749 a few months ago and TU and EX are about the same on FAKO EX Plus, so I asume they would be close in FICO land. That said I hope the lender will look at the middle score. 

[haulingthescoreup]

How many open cards did you have before this one? And did it lower your revolving util? (I don't remember if you let balances post.)

[PRILEY]

I had a store card Home Depot, BoA Visa and a Discover. I apped when Barclays closed me. I.m sure it helped my uti a little, don't know if I crossed a % level or not. at the time I think I had 38% uti before, now with this 6K it may be 34%. Not much difference. Now when Amex reports a 20k cl and what I've paid this month I should be at 18-19%. BofA is the only card with a balance.

[haulingthescoreup]

Hmmm, interesting that it's your fourth card. That's often when there starts to be an initial score hit, but like everything else in FICO-land, it's not carved in stone.

Even when there's a score hit, they usually are recovering by the third or fourth month, all else staying same. (Which it never does, of course.)

[PRILEY]

Well Barclays just closed me and HSBC closed 2 accts when the s**t hit the fan and CCC started CLDing or closing accounts. I forgot I have an old 1997 JCP card with a $124 limit that I haven't used for years... I'm scared to use it now. Affraid they'll close it or something. Maybe I should ask for a CLI ?? No gut no glory! ! What do you think?

[haulingthescoreup]

Woo-hoo, partay at JC Penney with $124!

I wouldn't try for a CLI on that until your util is way down. Never go looking until you have everything shined up as best as you can.

Then you could try, if you like. It wouldn't exactly be a crisis if they closed that one, lol. But since you've been getting chopped, the message might be to keep working on all the balances until your reports are boring enough that the banks look for someone new to go after.

I think that's a good road to credit success these days --keep your head down, be boring, and don't stand out from the crowd.