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New Contributor
abarcla1
Posts: 52
Registered: ‎11-05-2012

Theory question????

Does having many accounts in good standing ever begin to outweigh the bad stuff?

How many should I have? Can you have too many?
Moderator
Shogun
Posts: 10,985
Registered: ‎04-15-2011

Re: Theory question????

Positive TLs are necessary for a good healthy TL.  Some people get too hung up on scores.  While scores are important, the report and what's on it is equally important.  You will see people with scores in the 700 range get denied for credit while people in the 600 range are granted credit by the same people.  

 

This is because often there is an UW, a person that looks at the report and determines whether credit should be extended or not.  You will also see this on a recon for an account if credit has been denied.  If they look on your report and see good healthy TLs and a few old baddies, then they may decide that you have improved your situation and are now able to handle the debt.  However if you have a higher score, but no history and unable to show that you are able to handle things now, you may be declined. 

 

Hope that made sense to you, Dabears hasn't gotten me my morning coffee yet,  he's slipping.  :smileyhappy:


Starting Score: 504

Current Score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Going for Wade64's RUDY Spade!
Senior Contributor
DaBears
Posts: 3,916
Registered: ‎10-26-2012

Re: Theory question????

[ Edited ]

I will get you a cup of coffee if change my daughters ( 15 months old ) #2 dirty diaper. She ate Mexican food last night by the way :smileyvery-happy:

Moderator
Shogun
Posts: 10,985
Registered: ‎04-15-2011

Re: Theory question????

My youngest is turning 14 next month, sorry, but I'm past that stage.   I'll just get up and go get my own coffee.    "This time".  :smileyhappy:


Starting Score: 504

Current Score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Going for Wade64's RUDY Spade!
New Contributor
abarcla1
Posts: 52
Registered: ‎11-05-2012

Re: Theory question????

I'll send my 2 year old over for some potty training.  This is a nightmare!  LOL

Regular Contributor
shanac
Posts: 219
Registered: ‎09-20-2012

Re: Theory question????

Ooh potty training lessons? Can I send my 22 month old over?


Current Score: EQ FICO 758 as of 4/15/14 TU FICO 789 as of 5/2013 EX 781 via Amex 6/12/13
Goal Score: 800 Gardening 10/12/13 until 8/2014 app for final PLUS Loan
Regular Contributor
ApexdvToo
Posts: 232
Registered: ‎06-01-2012

Re: Theory question????

[ Edited ]

Shogun wrote:

Positive TLs are necessary for a good healthy TL.  Some people get too hung up on scores.  While scores are important, the report and what's on it is equally important.  You will see people with scores in the 700 range get denied for credit while people in the 600 range are granted credit by the same people.  

 

This is because often there is an UW, a person that looks at the report and determines whether credit should be extended or not.  You will also see this on a recon for an account if credit has been denied.  If they look on your report and see good healthy TLs and a few old baddies, then they may decide that you have improved your situation and are now able to handle the debt.  However if you have a higher score, but no history and unable to show that you are able to handle things now, you may be declined. 

 

Hope that made sense to you, Dabears hasn't gotten me my morning coffee yet,  he's slipping.  :smileyhappy:


I had this same thing happen to me recently: app'd for a card, received the infamous onscreen "NO WAY!", rang up the back-door recon number and after chatting a few minutes with the credit analyst (UW) was approved.  He mentioned that although there were negatives on my report he could see there have been no lates for about 3 years and that all open CCs have been paid on time.  He went on to say that because of that they will grant the approval with a low CL.  My scores were 640'ish and from what I could find through online research this particular card is usually only approved at the upper-600 to 700s range.

 

Now if only I had been around here 15 years ago ... I woulda been trading coffee-go's for diapers like mad!  That kid was *amazing* :smileyfrustrated:


Starting Score 4/15/2012:579 Ex-FAKO, 572 Eq-FAKO, 546 TU-FAKO (all were sub-500 in 2011)
FICO as of 3/08/2013: 627 EQ, 647 TU
FAKO as of 3/23/2013: 638 EX, 652 EQ, 648 TU
Goal 1: 600 FICO achieved 10/2012!, Goal 2: 650 FICO Across the Board - Let's take Baby-Steps!
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