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Revelate
Posts: 8,164
Registered: ‎12-30-2011
Re: can applying for a credit card raise a credit score?

jeffg330 wrote:
Thnx all. My new (unsecured) card is my only open CL that reports to EQ. I mistakenly got a secured CC in April that only reported to EX and TU, those scores went up 40 points each. Hoping to get only half of that with EQ. My AAOC was 8 years....

If we're talking about maximizing FICO I strongly suspect two open credit cards helps vis a vis the anecdotal information people have shared on installment loans over time.... seems to hold on revolving tradelines too and logically I don't see why it'd work any differently in two similar places in the model... assuming the estimation is right in the first place.

 

If you're not on the path of auto or mortgage in the next year or so, personally I'd go open another that reports to all three bureaus.  Out of curiosity, what secured card only reports to EX/TU?  If you live west of the Mississippi that's probably mostly fine historically, but lender pulls are kinda wonky in the information age and no longer pull on regional lines in the national lender cases.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 703, TU 708, EX 702* (05/30/14, EX older)
Goal Score: 700 in all three (01/01/15)


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