topic Re: New Disco! The good vs bad... in Credit Card Approvals

New Disco! The good vs bad...

JLL2104 — Sun, 19 May 2019 15:52:11 GMT

Score dropped ~15 points on FAKO. SL is $750. How long do you think until I get those 15 points back?
Super happy to be in the Disco family though

Re: New Disco! The good vs bad...

AverageJoesCredit — Sun, 19 May 2019 16:06:52 GMT

No way to tell without knowing your profile. Check out the Fico scoring thread youll find people with better understanding on how Fico works.

Congrats on your new Disco

Re: New Disco! The good vs bad...

JLL2104 — Sun, 19 May 2019 16:12:14 GMT

What exactly do you mean by profile? Sorry to ask and know that question shows my amateur knowledge. I appreciate everyone on the board so very much.

Re: New Disco! The good vs bad...

Anonymous — Sun, 19 May 2019 16:16:51 GMT

Dont stess the 15 FAKO points my Disco HP only netted 7 actual Fico points and only on one report so the hit will be short lived,, hope you enjoy your new Disco as much as i have been enjoying mine ,,, congrats on the new card,,,

Re: New Disco! The good vs bad...

Anonymous — Sun, 19 May 2019 17:27:17 GMT

i have been with disco 6 mos now and ABSOLUTELY LOVE them, i am focusing my time and money and energy all on discover, hope to get my $3000 card up to $10,000 by next summer

Congrats on your new Disco!

Re: New Disco! The good vs bad...

joltdude — Sun, 19 May 2019 17:41:22 GMT

FAKO is not FICO

Least in my experience a new card is a more dramatic hit than on a real FICO score...

Even if there is a drop of points, you get them back pretty quickly afterwards.. 6 months at the worst..

And if you have less than 4 CC's it can even gain you points once things start reporting

Don't panic.. it will be ok...

in the end youll actually be ahead not behind....

Re: New Disco! The good vs bad...

gdale6 — Sun, 19 May 2019 17:56:21 GMT

Grats on the new card

Dont sweat a FAKO, new inquiries affect Fico for up to 1 year with the first 6 months being the hardest of the hit. The point drop in Fico due to a new inquiry varies depending on your overall profile nothing is set in stone.

Re: New Disco! The good vs bad...

Anonymous — Sun, 19 May 2019 18:19:15 GMT

have you requested a cli since opening ?

Re: New Disco! The good vs bad...

JLL2104 — Sun, 19 May 2019 18:21:09 GMT

I haven’t. Isn’t it too soon? I think I activated it May 3rd.

Re: New Disco! The good vs bad...

JLL2104 — Sun, 19 May 2019 19:13:55 GMT

I believe everything you all say. I just hate seeing my score drop like that...even FAKO

Re: New Disco! The good vs bad...

pinkandgrey — Sun, 19 May 2019 19:25:55 GMT

Losing those points isn’t a big deal at all. Assuming your credit usage is responsible, you’ll probably recover those points within a month or so. Congrats on the new Disco! That limit will grow well

Re: New Disco! The good vs bad...

JLL2104 — Sun, 19 May 2019 19:42:36 GMT

Thanks Pinkandgray. How long until I should ask for a cli?

Re: New Disco! The good vs bad...

HighAchiever — Sun, 19 May 2019 19:55:11 GMT

That's how your scores work (FICO or FAKO)... They potentially can change multiple times in a month, week or even a day, depending on what information is changing in your credit profile that the CRA's have. In Feb I lost 40 points with EX and three months later, I got them all back... YMMV.... The point is, like everyone has said, just focus on utilizing your new credit properly and you will be more than fine in time!!!

Re: New Disco! The good vs bad...

JLL2104 — Sun, 19 May 2019 19:59:57 GMT

Thank you so much high achiever. You made me think of something though...you said use your credit properly. Should I charge everything to my cards and make sure to AZEO? It seems like people on here that have really improved use their credit cards for everything

Re: New Disco! The good vs bad...

HighAchiever — Sun, 19 May 2019 20:13:38 GMT

@JLL2104 wrote:
Thank you so much high achiever. You made me think of something though...you said use your credit properly. Should I charge everything to my cards and make sure to AZEO? It seems like people on here that have really improved use their credit cards for everything

Your welcome... now to answer your question, it depends!!! That is a specific method to squeeze out every drop of a point at that particular time usually used during the time frame of getting a mortgage or loan, etc. You don't have to attempt that normally when utilizing your credit cards. The best strategy is to usually pay in full just before the statement cut date (which is when most credit card companies/banks report your balance to the bureaus) and sometimes let a small amount report just to show activity on your credit report, but definitely pay that small amount in full by the due date!!! IMPORTANT no late payments!!!

Re: New Disco! The good vs bad...

Anonymous — Sun, 19 May 2019 20:50:28 GMT

Congrats on your Disco approval! Don't worry, you score will rebound soon enough!

Re: New Disco! The good vs bad...

SoCalifornia — Sun, 19 May 2019 21:22:32 GMT

"I believe everything you all say. I just hate seeing my score drop like that...even FAKO"

If you take nothing else from this thread, remember this:
FICO is king and everything else is moot. Never be concerned about FAKO scores. The information you find here, during your time with the forum is solid. And even still- I would only grow concerned about a score for two reasons: #1. Fraudulent activity and #2. IF scores don't change to your expectations (see reason #1 because you are the only reason your score should change) the second month in a row.

Welcome to wealth of information 👋🏽

Re: New Disco! The good vs bad...

Anonymous — Sun, 19 May 2019 22:19:08 GMT

@JLL2104 wrote:
Thanks Pinkandgray. How long until I should ask for a cli?

Congrats and welcome to the Discover family! Not pinkandgrey. But, many have gotten good results asking for a CLI after 90 days. I'm a witness, I received my first CLI around that time. I have never received an auto CLI, while many others have around that time.

Re: New Disco! The good vs bad...

JLL2104 — Sun, 19 May 2019 22:21:29 GMT

Discover HP for CLI’s?

Re: New Disco! The good vs bad...

GApeachy — Sun, 19 May 2019 22:26:40 GMT

@JLL2104 wrote:
I believe everything you all say. I just hate seeing my score drop like that...even FAKO

When I get a ck fako score drop I get excited......most of the time that means my Fico just gained some pts.