topic Re: Tips? in Credit Cards

Tips?

JaeJae12 — Fri, 17 May 2013 13:45:39 GMT

Hey all, I went on a app spree recently, and I also got my CR scores, my TU is 796 fico, 735 exp, and 735 EQf.. I k ow that my recent apps will bring my sores down but in 6 months it should recover, one of my question is how do I bring my exp&eqf scored up to like 750-770 at least.

Some useful informations are:
No baddies/ collection ever
Always pif/ never late ever
Prior to my new CC's I only had 1 CC a boa
No autoloans/mortgage
No bk

Re: Tips?

electra — Fri, 17 May 2013 13:53:36 GMT

Two things I can suggest:

1) See if you can CLI at least one of your cards to $5k or higher.

2) Try leaving a small balance on one of your cards (between 1-7%)

Re: Tips?

JaeJae12 — Fri, 17 May 2013 13:55:59 GMT

To number 1. That is my goal so in 6mknth I can try and app for the last card I want csp again( my family travels a lot so it would be very beneficial of us)
To number 2 my util is always no more than 7% total on all my CC, I do how ever spread my purchases out on my cards.

Re: Tips?

nicholasyud — Fri, 17 May 2013 14:28:14 GMT

Why would you want your score 750 !??? I not make much diff from 720 to 800........

Re: Tips?

JaeJae12 — Fri, 17 May 2013 14:33:19 GMT

I just want it abit higher

Re: Tips?

Anonymous — Fri, 17 May 2013 15:10:07 GMT

I thought 760 was better in terms of interest rates than 720? I'm in the same boat as JaeJae12 score wise, but my utilization is way too high, so I know I need to get that together to see score changes.

I thought Equifax was more sensitive to credit card balances than TU, but if your utilization is low and you have the same score discrepancies I do, perhaps TU is just a bit more generous.

Re: Tips?

jamesdwi — Fri, 17 May 2013 15:10:50 GMT

Your score may go up or stay the same as you had only one card before, the sweet spot is 3-5 cards so its a possitive to add a couple new cards that may take the sting out of the new TL's and INQ's you incurred.

At 61 days you can request a 3x CLI from AMEX on your BCE card, After 6 months you should be golden for just about any card you want and can afford the AF on.

Re: Tips?

calihlove75 — Fri, 17 May 2013 15:11:23 GMT

@nicholasyud wrote:
Why would you want your score 750 !??? I not make much diff from 720 to 800........

Ha! Your asking someone on myfico why they want a higher score...people that tweak their utility to get any extra points they can!!!

We are credit nerds!!!

Re: Tips?

JaeJae12 — Fri, 17 May 2013 15:23:09 GMT

I thought scores matter to lenders depending on location and how they determine let's it CL on top of other information such as income n what's on it CR.

Re: Tips?

nicholasyud — Fri, 17 May 2013 15:29:08 GMT

To calih : i know ppl tend to get crazy over it lol.........