02-26-2013 04:37 PM
Yes. My EX Fico was 809 in December at the AX pull with only the two BofA cards reporting. But then I got 4 new cards (total of 6 inquires within 4 weeks) and now I am on a big dive presently at 740 .. but hope to recover in the next 1-2 months. We will see..
02-26-2013 07:54 PM
No, no mortgages, loans, car, etc. Just CCs. Fused was one of the two. I think I know the other but I'd have to confirm.
Wow quite insightful, thanks for sharing that!
I'll often see posters in here asking about adding a loan to help their mix of credit, or worse, posters adamant that adding a loan will help their score. It's easy to hit 800 without one and never made sense to me to spend hundreds or even thousands on a loan just to potentially help a FICO score. Now if someone needed a loan, like a mortgage, then by all means. But nobody should get a loan just for a FICO score.
I think that is very helpful llecs, maybe you should make a static post informing users about making such an error, this def. has helped me clear my mind on such consideration for the future. Hopefully others who have ever had this same curiosity come across this thread.
As we always say....YMMV. Based on what I've seen you can nearly top out at the FICO scale without any loans. But what about those with only one CC and a short history? Or those with a small number of CCs and baddies reporting? IMO, there is more harm by adding a loan (e.g. new credit ding, impact to AAoA, interest $$$), but some swear by them. Every scoring bucket treats loans differently. To each their own I guess.
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