topic Re: more questions in Credit Cards

Re: more questions

chnceit — Sat, 19 Jan 2013 20:26:42 GMT

Yes it is possbile for a CCC close your account for too many new accounts; its called adverse action.

Barclay is well known for this and AMEX could request income documents.

But its always a YMMV with all lenders. If they think or see you are a risk they could close or suspend your account at anytime.

As far as to see a increase in your score it would take at least a couple of months

Re: more questions

CribDuchess — Sat, 19 Jan 2013 20:30:12 GMT

@coachmiff wrote:
when you go on an app spree and say get approved for 3 or more new cards --can the company close your account the next month when they show up on cr?

second question--does score watch ever update on the weekend or holidays?

Last--had a co/collection/120 days late account deleted off my report 16 jan per score watch equifax notice--when will i see spike in credit score?

Barclays is known to close a fairly new account if you subsequently open new accounts. There may be a few other companies that engage in this practice, but Barclays is the only one that comes to my mind. Most issuers will be fine if you open new accounts and just pay on time and PIF. You usually run into trouble when you open a bunch of new cards and you carry balances on most of them.

Yes, ScoreWatch does update on the weekends as I've received a few scorewatch alerts on Saturdays and Sundays. Not sure about holidays as I can't recall offhand, but I would hazard to guess a yes on that, too.

Did you see a change in your EQ score when you got the alert that it fell off? If it was that old (7+ years), it's possible that it wasn't really affecting your score anymore at that point anyway.