Re: Consolidation

jordanmedical · ‎04-15-2012

Will consolidating reduce my score?

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)

Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700
Take the FICO Fitness Challenge

Lel · ‎04-15-2012

@jordanmedical wrote:
Will consolidating reduce my score?

It could, but perhaps not by that much. When I consolidated a while back, there wasn't any obvious change in score. I had a new account, a slightly decreased AAoA, and an inquiry, but I also had fewer accounts with balances.

If consolidation saves you money, then it's a reasonable thing to do.

jordanmedical · ‎04-16-2012

Do the old accounts still showa long with payment history?

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)

Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700
Take the FICO Fitness Challenge

laz98 · ‎04-16-2012

@jordanmedical wrote:
Do the old accounts still showa long with payment history?

Yes

Consolidation

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Consolidation

Re: Consolidation

Re: Consolidation

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