topic Re: How quick is a score change impact? in Credit Card Applications

How quick is a score change impact?

mrcrisp023 — Mon, 10 Oct 2022 19:05:05 GMT

Hi all,

Just curious to hear some thoughts. I don't plan on actually applying right now but have been doing some prequals. I did a prequal for FNBO this morning and only got a $1000 SL offer for evergreen and world. An hour ago I got a notification that my Ex jumped up 18 points. If I did another prequal, would it recognize that already and possibly give me a higher limit? Just curious to see how much/quickly score fluctuation matters. I didn't see anything else update on my report, so it's not like I lowered my util to 1% and then it jumped. Just curious to hear feedback. I've seen some people on here prequal weekly til they get the SL they want lol.

Thanks !

Re: How quick is a score change impact?

FireMedic1 — Mon, 10 Oct 2022 21:07:24 GMT

Im no expert on this. But is the Open Sky below your only card? That might have been the reason for the $1000.

Re: How quick is a score change impact?

mrcrisp023 — Mon, 10 Oct 2022 21:06:00 GMT

Yup OpenSky is my only card. I've been heavy in the garden while I paid off old debt and just cleaned up my report overall. My scores have been creeping up more and more. Waiting for the right time to strike and have a mini app spree, then go back to the garden. I'm trying to be patient and wait until I'm at least 680,690 across the board.

Re: How quick is a score change impact?

FireMedic1 — Mon, 10 Oct 2022 21:09:24 GMT

There ya go. You'll stay with lower SL's for a little while. Its the revolving account that matters and whats reported. Not the credit line in itself.

Re: How quick is a score change impact?

mrcrisp023 — Mon, 10 Oct 2022 21:11:11 GMT

Thanks! So I wonder if it's even worth me waiting until my scores go up? Will it make a difference?

Re: How quick is a score change impact?

CYBERSAM — Mon, 10 Oct 2022 21:22:33 GMT

The good thing about FNBO Evergreen is that your not going to be bucketed like Cap1. Even if they approve you for 1K SL, most likely you can get SP CLI around 6mo!

Also when they pull your credit its going to be HP and it'll be updated score and file.

Good luck.

Re: How quick is a score change impact?

OmarGB9 — Mon, 10 Oct 2022 23:14:30 GMT

It would depend on whether they use a fresh SP every time you try the prequal, or whether they save one for X amount of time and just refer to that any time within their storage window if you run the prequal again. I don't know about FNBO in particular, but I *can* tell you that an increased score won't automatically result in a higher SL, if approved at all.

Re: How quick is a score change impact?

Lou-natic — Tue, 11 Oct 2022 01:37:07 GMT

If you want the Evergreen it won't hurt to grab it, it will grow. FNBO is also pretty easy to deal with so I won't stop you but...

If I was doing it right now I'd take a long hard look at the Bread Cashback card.

Re: How quick is a score change impact?

805orbust — Wed, 12 Oct 2022 17:00:53 GMT

Yeah, what @Lou-natic and @CYBERSAM said. FNBO will grow over time with soft pulls. I will say however that there is alot of uncertainty out there. I, for one, favor the higher starting limit to growing if I had a choice. Ymmv.

Also, I can tell you that scrutiny goes WAY down above 740 or so... like super instant approval level. I would let your cards age a bit and then go for it in the spring/summer. I bet you could easily get an over 5k approval then. When splitting hairs on time, reporting, scores, updates, I frontload it as much as possible for a strong approval. Patience is an asset in the credit game.

Not like I've been practicing much of it lately, but it's normally out of character for me 😂