I recently applied for 3 cards, AMEX PRG, Chase Freedom & Capital One Venture. I was approved for all 3 in a span of 1-2 days. See link below for details if interested.
I would like opinions regarding what to do next to boost my FICO scores:
Pre App FICO Scores:
1. Experian: 712, 1 inq.
2. Transunion: 726, 0 inq.
3. Equifax: 731, 0 inq.
All scores in Pre App above reflect 1 secured BOA, 1 30-day late 6yrs old
Post App FICO Scores
1. Experian: 676, 4 inq
2. Transunion: 726, 2 inq,
3. Equifax: 731, 1 inq
All scores in Post App above reflect 1 secured BOA, 1 30-day late 6yrs old. They do not reflect new AMEX, Chase & Cap 1 as of yet. I assume they will appear in the next few weeks.
As you can see, my Experian took the biggest hit. I had 3 inq hit in addition to 2 very old positive installment loans fell off my credit reports during the same week of the inqs. Interesting how Eq & Trans were not affected at all. Doesn't really make sense and fair. I could understand if the old credit information was no longer being used to calculate FICO scores. Evidently, they still are considering the steep drop in my Experian. Unless the 3 additional inqs caused it. I really don't know.
Questions:
A. Will my FICO scores increase when the AMEX, Chase & Cap 1 hit the CRA'S?
B. What are my next steps to increase my FICO score to high 700's to low 800's? Keep util under 10% etc etc? On time payments?
Any suggestions would be appreciated.
Cheers,
Mohawk
http://ficoforums.myfico.com/t5/Credit-Card-Applications/Chase-Pre-Qualify/m-p/4083125#M68786
