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Senior Contributor
BungalowMo
Posts: 4,235
Registered: ‎05-01-2008

Re: should i app for more cards?

 


marinevietvet wrote:

 


BungalowMo wrote:

 


Wow...I can't understand that at all.....is it just me??? :smileyindifferent:

 


It's greek to me.  :smileyhappy:

 

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work



Hey...I'm Greek & don't get it!  :smileyvery-happy:

 



Starting Score: 07/2011 TU 732 - EQ 717 - EX 702
Current Score: 06/2014 TU 739 - EQ '08 709 - EX 721
Goal Score: 850

Bury me in the garden...last app 06.18.14

Member
sufur
Posts: 11
Registered: ‎03-03-2010

Re: should i app for more cards?

how much of a point drop could i expect if my aaoa dropped by a year? my equifax fico just went up to 735. dont get my transunion till the 1st.

Mega Contributor
Creditaddict
Posts: 18,830
Registered: ‎10-23-2007

Re: should i app for more cards?

I wouldn't think that much but any loss you will probably gain back in less than 6 months

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Member
sufur
Posts: 11
Registered: ‎03-03-2010

Re: should i app for more cards?

[ Edited ]

i just became a member of penfed a few days ago....but i havent apped for any of their cards yet. as i have heard they are pretty tough. i have heard of people with pretty high scores and incomes getting rejected.

What would be considered too many inquires?

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Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: should i app for more cards?

 


sufur wrote:

how much of a point drop could i expect if my aaoa dropped by a year? my equifax fico just went up to 735. dont get my transunion till the 1st.


 

This depends on what the years are. There are these mysterious things called "score buckets" that try to match you with consumers with similar credit profiles, and most of the buckets are defined by age in full years.

 

We do a lot of guessing (and arguing) around here as to what the age brackets are, but there's a good chance that two of them are "less than 2 years" and "2 years to less than 5." When my EQ file finally hit 5 years AAoA (they had lost some old closed accounts for me :smileymad:), my score hopped around 10 points. I can't be more precise, because it's so hard to separate things out, but that's a for-instance.

 

But you might well see no change at all if you went from 4 to 3, or 8 to 7, for example.

* 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 Contributor
Uncle_Money
Posts: 530
Registered: ‎07-28-2008

Re: should i app for more cards?

PenFed, is indeed, tuff.

 

Originally, I was denied with an EQ of nearly 750 but my recon was a success due to the documents they received from me. I had to fax in everything from tax returns to W2s. It was worth it, though.

 

I had ZERO inquiries when I apped w/ them. Currently, they're my only inquiry on my Equifax report.

 

How many inqs do you have now and what are the dates of them?

 

UM

Equifax Fico 785 as of 01/18/2012
Member
sufur
Posts: 11
Registered: ‎03-03-2010

Re: should i app for more cards?

well i had 4 inquires in 12/2008 all for rental cars. did a lot of travel and didnt have a credit card. only a debit card.

9/2008

5/2009

11/2009

3/2010 2 inquiries

8/2010 2 inquiries

 

one of those last inquires was the penfed savings account i opened and the other was a refinance on my car.

id really like to get maybe a chase untied mileage plus card because i travel quite a bit and ive also been looking at the starwood amex as ive heard its an excellent card for travelers rewards. how many inquiries is too many.?

Valued Contributor
thrasher865
Posts: 1,163
Registered: ‎05-21-2008

Re: should i app for more cards?


my-own-fico wrote:

 


beamMEup wrote:

Greek to me, too.  However it  may be useful to savvy Apple script users.

 

I keep mine in a simple Excel spreadsheet - it's easier than redoing the math whenever I need to check it out. 

 

Do whatever works best for you.


 

+1.

 

You don't have to AppleScript savvy to use the above code though. Just paste it into a Mac's Script Editor window and press Command-R to run it. You can change the input values at the top of the script code to fit your needs.

 

If you do an average in Excel, I don't know if it can calculate the number of non-blank cells only. Because if you change the number of cards, you may not want to bother with updating the formula of the cell with the result.

 


You can do anything with excel, usually using some combination of if, then commands.  I don't understand exactly what you're saying though, or I would explain.

 

For instance if you want it to add up the number of non blank cells in a column, say column C, make another column off to the side that is full of =if(C1="",0,1).  Then that column will print a 1 in each cell corresponding to each row that is not blank.  Then just =sum() at the bottom of that column and you have the number of nonblank cells in column C.  Then you can hide the column that the math is done in to keep your spreadsheet looking tidy :smileyhappy:


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Member
sufur
Posts: 11
Registered: ‎03-03-2010

Re: should i app for more cards?

still not sure if i should wait or not.....i dont think my chances with penfed are very good even if i wait till december when 4 inq drop off. what do you think my chances are with a starwood amex is right now? ive appped for amex about a year a fidelity amex and got denied...i didnt think to try a recon.

Mega Contributor
Creditaddict
Posts: 18,830
Registered: ‎10-23-2007

Re: should i app for more cards?


sufur wrote:

still not sure if i should wait or not.....i dont think my chances with penfed are very good even if i wait till december when 4 inq drop off. what do you think my chances are with a starwood amex is right now? ive appped for amex about a year a fidelity amex and got denied...i didnt think to try a recon.


You could try for the Starwood, if it's declined I would consider a Charge card, they are easier to get and if you apply same day they won't pull credit again.  Gold is free for first year, Zync is also pretty popular right now.  Many people have better luck getting an amex credit card product after showing history to amex on a charge card product.

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:

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