topic Re: Score changes after app frenzy, so far in Credit Cards

Score changes after app frenzy, so far

haulingthescoreup — Wed, 20 Feb 2008 15:34:05 GMT

OK, a sign of someone who is analyzing this stuff way too much, and needs to pick up a few new vices: I thought I'd pull my scores after the inqs hit, but before the new accounts post:

Before:
EQ 728
TU 734
EX 752

After 3 inqs hit EQ and 1 hit EX:
EQ 728 -- no change!
TU 734 -- no change (none expected)
EX 749 -- 3-point drop for one inq

What's weird is that EQ shows the three inqs on the inq tab, listing them as "inquiries that affect your score," and on the first page the light green turned to yellow for "amount of new credit," but on page two with the balance scales of death, I'm still on the happy side for "not seeking credit," and it says that I only have one inq within the last year. How does it know that I have 3 on the inquiries tab, but it only reports one on Understanding your FICO score? Is it time to upgrade the hamster chow on the FICO servers?

So anyway, for all those who keep asking how much an inq costs you, in my score bucket, EX charges me 3 points for just one, and EQ is completely wacko. I would have said that there's no real penalty until you hit two or more per CRA, but I did see the light green turn to yellow on EQ for amount of new credit. Maybe I'll wind up getting a score alert for the 2 ignored inqs once they come back from their coffee break or whatever.

And then, once the accounts actually hit, especially the $8K on the $10K BofA card... That will be deeply entertaining! I'll post them when they finally stagger in.

Re: Score changes after app frenzy, so far

MidnightVoice — Wed, 20 Feb 2008 15:41:24 GMT

haulingthescoreup wrote:
OK, a sign of someone who is analyzing this stuff way too much, and needs to pick up a few new vices:

Some of us are too old for new vices

haulingthescoreup wrote:

And then, once the accounts actually hit, especially the $8K on the $10K BofA card... That will be deeply entertaining! I'll post them when they finally stagger in.

If there is an AMEX there, don't hold your breath waiting for EX to report it - Amex and EX don't seem to be talking to each other at the moment

Re: Score changes after app frenzy, so far

haulingthescoreup — Wed, 20 Feb 2008 15:52:24 GMT

@MidnightVoice wrote:

If there is an AMEX there, don't hold your breath waiting for EX to report it - Amex and EX don't seem to be talking to each other at the moment

No, I'm still too wary to get into the AmEx game. I'm just sitting on a high nearby hill with my binoculars, watching y'all dodge bullets. Maybe next year, or if I ever have enough excitement in my life to warrant trying to understand their rewards system. Systems, really. Too complicated to keep my interest for long!

Re: Score changes after app frenzy, so far

Anonymous — Wed, 20 Feb 2008 15:52:54 GMT

Hmmm very interesting. I have not seen any score drop for an inquiry yet (maybe my bucket likes inq's...lol). Good info, I am in a holding pattern right now...

H

Re: Score changes after app frenzy, so far

MidnightVoice — Wed, 20 Feb 2008 15:58:41 GMT

HinH wrote:
Hmmm very interesting. I have not seen any score drop for an inquiry yet (maybe my bucket likes inq's...lol). Good info, I am in a holding pattern right now...

H

I had in increase when 2 dropped off EQ, leaving me with zero - I think it was 3-6 points

Re: Score changes after app frenzy, so far

Anonymous — Wed, 20 Feb 2008 16:06:19 GMT

That is why I am holding...pay what I have on time and wait for those inq's to fall off. All knowledge gained from the helpful folks at MyFico forums! I always say if you fail to plan, you plan to fail... ;-]

Thanks!
H

Re: Score changes after app frenzy, so far

Marvintran — Wed, 20 Feb 2008 16:54:59 GMT

Hey Hauling thanks for the good info on the Penfed CU,

I checked my scores after all the ings and new account posted to

my EQ and some how the score kinda jump a bit?

EQ 733

after Ped fed ing and citi new account posted

EQ 777?

But no compaint here

Re: Score changes after app frenzy, so far

Red1Blue — Wed, 20 Feb 2008 16:59:09 GMT

MidnightVoice wrote:

haulingthescoreup wrote:
OK, a sign of someone who is analyzing this stuff way too much, and needs to pick up a few new vices:
Some of us are too old for new vices

haulingthescoreup wrote:

And then, once the accounts actually hit, especially the $8K on the $10K BofA card... That will be deeply entertaining! I'll post them when they finally stagger in.
If there is an AMEX there, don't hold your breath waiting for EX to report it - Amex and EX don't seem to be talking to each other at the moment

What is going on with Amex/EX now a days? I have my Optima reported on TU/EQ. Nothing on EX yet. I wonder when will EX start reporting the account.

Re: Score changes after app frenzy, so far

MidnightVoice — Wed, 20 Feb 2008 17:06:09 GMT

concorduser wrote:

What is going on with Amex/EX now a days? I have my Optima reported on TU/EQ. Nothing on EX yet. I wonder when will EX start reporting the account.

It is a mystery. And I can't dispute the account to force an update as it has never been there!

Amex is due to report again next week, and I am wondering if that will kick start the process

Re: Score changes after app frenzy, so far

Anonymous — Wed, 20 Feb 2008 18:07:27 GMT

I just received an alert that my Penfed INQ hit EQ. I was 799 before and I'm still 799.

Is there a time lapse between the INQ hitting and the Fico score updating?

Message Edited by esshua on 02-20-2008 01:07 PM

Re: Score changes after app frenzy, so far

MidnightVoice — Wed, 20 Feb 2008 18:08:20 GMT

esshua wrote:
I just received an alert that my Penfed INQ hit EQ. I was 799 before and I'm still 799.
Is there a time lapse between the INQ hitting and the Fico score updating?

Should not be

Re: Score changes after app frenzy, so far

haulingthescoreup — Thu, 21 Feb 2008 12:23:06 GMT

More results trickling in from the precincts (you can tell that I've been watching elections coverage!): EX is now reporting the BofA, and even gave me a month of clean history, which was nice of them. It wasn't there yesterday morning when I pulled scores, but it was there last night when I ran TrueCredit.

Re: Score changes after app frenzy, so far

BBYGRL — Thu, 21 Feb 2008 23:33:48 GMT

BofA and Discover tend to report pretty fast right? My new accounts hit within days of opening them. Congrats on you new accounts. Did you get a new pair of gardening gloves?

Re: Score changes after app frenzy, so far

haulingthescoreup — Thu, 21 Feb 2008 23:49:28 GMT

@BBYGRL wrote:

BofA and Discover tend to report pretty fast right? My new accounts hit within days of opening them. Congrats on you new accounts. Did you get a new pair of gardening gloves?

Boy, I'm going to need them, aren't I? That's true, I hadn't thought about Discover, but when I went AU on DH's card, it popped up on my reports within days.

Re: Score changes after app frenzy, so far

haulingthescoreup — Sat, 23 Feb 2008 23:18:07 GMT

doo-be-doo-be-doo...

Well, I thought that the wrath of the FICO gods would be much more swift and terrible. I guess they know that I suffer more from not knowing. But I'm posting this for those who worry about how much inqs "cost" them and so forth.

So far, the BofA card has reported to EX (2/19) and EQ (2/22.) All inqs have posted, 3 on EQ and one on EX. I couldn't stand it, and wasted an EQ FICO report (I mean, c'mon, 3 inqs and 1 new card??), and no score change, although on the first page, I'm now down to "not good" on amount of new credit applied for. So it has finally figured out that I have 3 inqs, but it still only shows one inq on the what's bad - what's good page. Go figure.

I'm not feeling terribly reassured by all my various credit monitoring services. All 5 accounts were started on 2/16, although PenFed's inq hit on 2/14, when I became a member. Here are the alerts I've had so far on the dates I received them:

TrueCredit: 2/19 - the 2/18 BofA inq; 2/19 (later) - the 2/16 PenFed inq; 2/23 - the new BofA card posts, and the Home Depot and Borders inqs
Equifax Gold: 2/15 PenFed inq (never got this); 2/18 Home Depot inq; 2/21 Borders inq; 2/23 BofA card posts
Experian Consumer: 2/18 BofA inq, 2/22 BofA card posts
myFICO Scorewatch: zippo, nada, although one might have been cancelled when I pulled my scores on 2/20. Yes, yes, I know I have a Problem.)

So I've gotten alerts, but not exactly immediately, and EQ has not changed one point, despite having 3 inqs (0 before) and a new account post. I'm not bothering to pull EX yet --one inq, one account so far. doo-be-doo-be-doo...

Re: Score changes after app frenzy, so far

Anonymous — Sat, 23 Feb 2008 23:35:36 GMT

HTSU-

You need to find a rewards card that gives double ponts or cash back on Credit monitoring purchases-

Re: Score changes after app frenzy, so far

haulingthescoreup — Sat, 23 Feb 2008 23:41:03 GMT

@Anonymous wrote:
HTSU-

You need to find a rewards card that gives double ponts or cash back on Credit monitoring purchases-

Boy, you've got that right!

I'm planning on looking for a tax deduction to put this stuff under Research. Besides, you're writing off all the barbecue expenses for your HSBC and Orchard cards, right? And all that Koolaid...

Re: Score changes after app frenzy, so far

Anonymous — Sun, 24 Feb 2008 00:12:59 GMT

He could try it as a mental health deduction

Re: Score changes after app frenzy, so far

Anonymous — Sun, 24 Feb 2008 00:18:50 GMT

HTSU your app spree was not near as extensive as mine. I got 1 new cc in the beginning of Jan. and 8 in the last week of Jan. Plus about 5 denials. My app spree start 1-23 and I got SW on 1-29. Since then my SW has gone up 9 pts. I think that I am now in critical condition in the Sleigh Center Emergency Room and need to be forcibly restrained from submitting anymore apps.

Re: Score changes after app frenzy, so far

haulingthescoreup — Sun, 24 Feb 2008 00:27:49 GMT

@Anonymous wrote:

HTSU your app spree was not near as extensive as mine. I got 1 new cc in the beginning of Jan. and 8 in the last week of Jan. Plus about 5 denials. My app spree start 1-23 and I got SW on 1-29. Since then my SW has gone up 9 pts. I think that I am now in critical condition in the Sleigh Center Emergency Room and need to be forcibly restrained from submitting anymore apps.

So which have you found that you like better? --the chemical restraints, or the four-point leather restraints?