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Regular Contributor
Posts: 173
Registered: ‎10-11-2007
0

Less than 2 cents per point

I got a discount code from MyFICO via email so I used it to get my first Experian report and score in years.  I got a bargain, because my score was 813, which is about 100 points higher than it ever was before.  And it only cost $15.95 with the discount.  That's less than 2 cents per point.

 

It's much easier to get high scores now than it was 5 or 10 years ago, because more banks do automatic payments which make sure your payments are never late.  And my score of 813 was with a fresh inquiry and a new account opened a few days before the score, after already having 30+ accounts.  And 100% of my active accounts are credit cards.  No installment, no mortgage.  I paid off my mortgage about six months ago and it made no difference at all to my Equifax score, which was 813 then, and reached a peak of 817 recently, but then nosedived to 816, for no obvious reason.  I thought it was by far my highest score, so I was surprised to see Experian in the same neighborhood.

 

In March, 2006, I had a FICO score of 500 even.  So that's a gain of about 3.6 points per month, on average, from then till now.

 

Meanwhile, MyFICO's spell checker, for this message, is asking me if I want to replace MyFICO with myopic.

 

Valued Contributor
Posts: 5,381
Registered: ‎04-30-2013
0

Re: Less than 2 cents per point


axxy wrote:

I got a discount code from MyFICO via email so I used it to get my first Experian report and score in years.  I got a bargain, because my score was 813, which is about 100 points higher than it ever was before.  And it only cost $15.95 with the discount.  That's less than 2 cents per point.

 

It's much easier to get high scores now than it was 5 or 10 years ago, because more banks do automatic payments which make sure your payments are never late.  And my score of 813 was with a fresh inquiry and a new account opened a few days before the score, after already having 30+ accounts.  And 100% of my active accounts are credit cards.  No installment, no mortgage.  I paid off my mortgage about six months ago and it made no difference at all to my Equifax score, which was 813 then, and reached a peak of 817 recently, but then nosedived to 816, for no obvious reason.  I thought it was by far my highest score, so I was surprised to see Experian in the same neighborhood.

 

In March, 2006, I had a FICO score of 500 even.  So that's a gain of about 3.6 points per month, on average, from then till now.

 

Meanwhile, MyFICO's spell checker, for this message, is asking me if I want to replace MyFICO with myopic.

 


Congrats! Thats an amazing rebound. I bet you worked hard for it though! 




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Moderator
Posts: 13,686
Registered: ‎04-15-2011
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Re: Less than 2 cents per point

Very nice!


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July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Super Contributor
Posts: 8,182
Registered: ‎03-25-2007
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Re: Less than 2 cents per point


axxy wrote:

 

Meanwhile, MyFICO's spell checker, for this message, is asking me if I want to replace MyFICO with myopic.

 


Love spell checkers  :smileyvery-happy:

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Valued Contributor
Posts: 1,449
Registered: ‎08-30-2011
0

Re: Less than 2 cents per point


MidnightVoice wrote:

axxy wrote:

 

Meanwhile, MyFICO's spell checker, for this message, is asking me if I want to replace MyFICO with myopic.

 


Love spell checkers  :smileyvery-happy:


Freud might have an interesting comment about that one ! ! !   More than a few of us on here might be considered myopic ! !

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Regular Contributor
Posts: 173
Registered: ‎10-11-2007
0

Re: Less than 2 cents per point

As I mentioned, my Experian score of 813 is after opening a new account.  However, it turns out my Equifax score had not yet been figured with that new account.  So instead of being 813 and 816, they're now 813 and 791.

 

Since the Experian 813 included a credit report, I looked at that to verify the new account was there.  For Equifax, I can only tell by what Score Watch tells me.  And when I said it was 816, I didn't notice that I hadn't yet got an alert for the new account.  Then, when the alert came in today, it came with the score decrease to 791.

 

I don't usually apply for new accounts these days.  The reason for this one is that I was getting 2% cash back on groceries, and that was decreased recently to 1.5%, so I applied for a new card that gives 2% on groceries.  I got instant approval of course, but only with a $6000 limit.  I have lots of cards with much higher limits than that, but the 2% cash back is what counts.

 

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