topic Re: Just curious. How much will a $10,000 TL increase CS? in Credit Cards

Just curious. How much will a $10,000 TL increase CS?

Hightechredneck — Mon, 10 Dec 2012 20:42:32 GMT

Just curious, I'm still in the garden but there is one card out there that I think will get me a $10,000 TL.

Re: Just curious. How much will a $10,000 TL increase CS?

nicholasyud — Mon, 10 Dec 2012 20:56:06 GMT

Yes off course maybe more

http://www.americanexpress.com/lacidc/iccsite/american_express_centurion_card_benefits.shtml

Re: Just curious. How much will a $10,000 TL increase CS?

Jutz — Mon, 10 Dec 2012 20:57:49 GMT

How much will it increase your Score are you asking?

It all depends on your UTIL. If you're already lower than 9% it will probably drop your score, due to HP and new account hitting AAoA

Re: Just curious. How much will a $10,000 TL increase CS?

Hightechredneck — Mon, 10 Dec 2012 20:58:21 GMT

My question is, If approved, how much would my scrore increase?

Re: Just curious. How much will a $10,000 TL increase CS?

Hightechredneck — Mon, 10 Dec 2012 20:59:58 GMT

My utilization is higher than 9% (more like 30%) So I'm only assuming that it will drop my utilization a ton since I only have about 20k out there.

Re: Just curious. How much will a $10,000 TL increase CS?

swpopham — Mon, 10 Dec 2012 21:02:11 GMT

You never know but it will prob drop 10-15pts initially

Re: Just curious. How much will a $10,000 TL increase CS?

Jutz — Mon, 10 Dec 2012 21:03:27 GMT

A 10k CL will put you around 20% UTIL then. That will definitely help, but I'd think it would be more of a wash because of the inquiry and new account. Over time obviously it will help, but right away not much. If you can pay your UTIL down below 10% AND you add the 10k? That might be a bump

Re: Just curious. How much will a $10,000 TL increase CS?

FinStar — Mon, 10 Dec 2012 21:07:50 GMT

@Jutz wrote:
How much will it increase your Score are you asking?

It all depends on your UTIL. If you're already lower than 9% it will probably drop your score, due to HP and new account hitting AAoA

If the question is associated with your FICO score, no one has an exact answer that can be provided on this forum. Merely speculative guesses can be assessed. The only sure method to know is whenever you apply. And, as noted by Jutz above, it all depends on your overall credit profile during the time of acquiring such a tradeline. Unfortunately, no crystal ball exists that can predict with exact science the specific drop or increase on your score, even with most consumer score-modeling tools around.

Re: Just curious. How much will a $10,000 TL increase CS?

Hightechredneck — Mon, 10 Dec 2012 21:09:53 GMT

ok fair enough. Thanks

Re: Just curious. How much will a $10,000 TL increase CS?

cashnocredit — Mon, 10 Dec 2012 21:10:46 GMT

@nicholasyud wrote:
Yes off course maybe more
http://www.americanexpress.com/lacidc/iccsite/american_express_centurion_card_benefits.shtml

Amex's Cent won't help EQ FICO. Nor will any other Charge cards. Ya need a revolver.

Re: Just curious. How much will a $10,000 TL increase CS?

nicholasyud — Mon, 10 Dec 2012 21:14:14 GMT

I just answer his question.

He has ask nothing about Fico score.

Re: Just curious. How much will a $10,000 TL increase CS?

Hightechredneck — Mon, 10 Dec 2012 21:14:50 GMT

Sorry, I should have made that clearer

Re: Just curious. How much will a $10,000 TL increase CS?

Repo-ed — Mon, 10 Dec 2012 21:20:11 GMT

100 pt drop

Re: Just curious. How much will a $10,000 TL increase CS?

Hightechredneck — Mon, 10 Dec 2012 21:24:58 GMT

I hope you are kidding! :-)

Re: Just curious. How much will a $10,000 TL increase CS?

FinStar — Mon, 10 Dec 2012 21:32:47 GMT

@obageegee wrote:
I hope you are kidding! :-)

Unless the above poster designed and/or has intimate knowledge with credit score algorithms, then watch out. Otherwise, I'm thinking a joke for sure.

As most other posters on this thread have shared, it is definitely going to fluctuate to some degree. However, to know the for sure, you will need to take the step and apply to determine its impact on your score.

Re: Just curious. How much will a $10,000 TL increase CS?

Hightechredneck — Mon, 10 Dec 2012 22:43:22 GMT

I think I'll keep gardening for now. I need some anti-itch powder that's for sure!