topic Re: New Account - Lag time on ding?? in Credit Cards

New Account - Lag time on ding??

Tonya-E — Sun, 11 Mar 2012 16:57:05 GMT

Hello all,

I recently applied for a Barclays Rewards MC. It appeared on my EQ report this morning (I wasn't expecting it this soon), but I didn't get a ding. I realize I wouldn't get the inquiry ding since they pulled TU, but I expected a ding from the new account reporting. Is there ever a lag time from when the new account reports and the actual ding you experience from the addition? I am trying to figure out if I may have squeaked by with no damage.....

Re: New Account - Lag time on ding??

boomhower — Sun, 11 Mar 2012 17:12:37 GMT

Once it reports the score will reflect any changes immediately.

Re: New Account - Lag time on ding??

Tonya-E — Sun, 11 Mar 2012 17:42:22 GMT

Ok thanks boomhower. Well it seems I got thru this one ok. I lost none on EQ and 2 on TU. I of course h e no idea on EX. Now I just need to see what happens with FP and the HSBC card falling off my report. They are both showing closed on the account sites but haven't reported on CBs yet. That is what I am really waiting to see.

Re: New Account - Lag time on ding??

LS2982 — Sun, 11 Mar 2012 17:50:39 GMT

Any impact of a new account should appear as soon as it shows up on your files. Have you checked your EQ FICO?

Re: New Account - Lag time on ding??

Tonya-E — Sun, 11 Mar 2012 17:54:22 GMT

Hi LS. Yes. I have SW and no change on EQ. A 2 point ding on TU. Since TU took the inquiry and the new account it should have dropped the most. So with only a 2 point drop on TU I can see having no score change on EQ. My history is a little bit longer on TU and EX.

Re: New Account - Lag time on ding??

pizzadude — Sun, 11 Mar 2012 19:26:47 GMT

The score ding will vary based on how much your AAoA is lowered. And if it wasn't a significant drop then you might not see any change at all, which is great !

Re: New Account - Lag time on ding??

Tonya-E — Sun, 11 Mar 2012 20:12:30 GMT

I am assuming that is what happened pizzadude. I guess it didn't lower the age and the 2 points I lost on TU were from the inquiry.

Re: New Account - Lag time on ding??

LS2982 — Sun, 11 Mar 2012 21:22:50 GMT

Thats great you didnt lose points! you may want to garden for 6 months before the "seeking credit" ding comes.

Re: New Account - Lag time on ding??

Tonya-E — Sun, 11 Mar 2012 23:16:59 GMT

Honestly, in addition to the fact they pulled TU; that is part of the reason I chose Barclays. I have heard that you really have to wait 6 months just to be on the safe side. But, truth be told, I need to garden indefinitely. This card was to cover me if Care Credit drops me as I suspect they may be thinking of doing soon. I haven't used that card in a year and it's a nice chunk of available credit that I don't want to lose. If I can't find a use for it in the next 6 months, I will be closing that too.

Re: New Account - Lag time on ding??

LS2982 — Sun, 11 Mar 2012 23:21:22 GMT

@tonyaether wrote:
Honestly, in addition to the fact they pulled TU; that is part of the reason I chose Barclays. I have heard that you really have to wait 6 months just to be on the safe side. But, truth be told, I need to garden indefinitely. This card was to cover me if Care Credit drops me as I suspect they may be thinking of doing soon. I haven't used that card in a year and it's a nice chunk of available credit that I don't want to lose. If I can't find a use for it in the next 6 months, I will be closing that too.

AFAIK, CareCredit will drop you if you have a year straight no activity on the card. Can you take your pet for a checkup?? It worked for me.

Re: New Account - Lag time on ding??

Tonya-E — Sun, 11 Mar 2012 23:24:23 GMT

My cat's vet doesn't accept it (or isn't an authorized provider) and I definitely do not want to change my cat's vet just to use it. I am going to talk with her though to see if she would think of becoming one...I don't know what kind of costs or fees may be associated with her becoming an authorized provider though.

Re: New Account - Lag time on ding??

LS2982 — Sun, 11 Mar 2012 23:25:56 GMT

@tonyaether wrote:
My cat's vet doesn't accept it (or isn't an authorized provider) and I definitely do not want to change my cat's vet just to use it. I am going to talk with her though to see if she would think of becoming one...I don't know what kind of costs or fees may be associated with her becoming an authorized provider though.

You can do a search in your area for vets who take the card and just do a basic checkup, no need to go back. Just to keep your active.

Re: New Account - Lag time on ding??

Tonya-E — Sun, 11 Mar 2012 23:32:59 GMT

Hmmmm...now that sounds like a plan LS! Awesomeness!

Re: New Account - Lag time on ding??

LS2982 — Sun, 11 Mar 2012 23:46:05 GMT

@tonyaether wrote:
Hmmmm...now that sounds like a plan LS! Awesomeness!

Keeps your card active for another year and it may come in handy if an unfortunate situation ever happens!! That's why I got mine!

Re: New Account - Lag time on ding??

Tonya-E — Mon, 12 Mar 2012 00:29:44 GMT

Thank you so much LS! You are always so helpful in providing a lot of advice and insight! I appreciate that!

Re: New Account - Lag time on ding??

LS2982 — Mon, 12 Mar 2012 10:36:20 GMT

@tonyaether wrote:
Thank you so much LS! You are always so helpful in providing a lot of advice and insight! I appreciate that!

Thanks!! I try to be as helpful as I can!!

This forum and the members here have helped me so much as well!