topic Re: MyFICO Scores improving from APP Spree in Credit Cards

MyFICO Scores improving from APP Spree

Bay_Area_Joe — Wed, 12 Jun 2013 17:02:24 GMT

Well,

I pulled the trigger today and updated MyFICO TU and EQ.

To my surprise I am recovering nicely from major app spree on 3-13-13.

MyFICO TU is a amazing 793 and MyFICO EQ is a good 755.

Just trying to hold back any apps for now, need more time to age accounts. I think the biggest thing holding me back is AAoA is at 3.9 years. Maybe one more AMEX to get another 22.5 added to AAoA, but even that is a strech.

But, really I don't need any more cards, finding it getting hard to manage getting some use on all the cards.

My UTL is at 5% and I will work on getting that down to 1%, and I have two accounts reporting a balance because I missed a PIF prior to statement cut. That is taken care of now, so next report it will be only one account, hopefully down to 1%.

I am so amazed of how I have been able to recover from bad stuff in the past.

I am just pressing forward trying to get the coveted 800 club.

Thank you all in the Forum for all the advice. Any other suggestions by the members is appreciated.

Have a great day !!!!!

Re: MyFICO Scores improving from APP Spree

09Lexie — Wed, 12 Jun 2013 17:24:43 GMT

You've done extremely well and your CS demonstrate that fact! If you don't need one then don't add another cc to your portfolio ESP if keeping up with them is cumbersome. If you were to add an Amex, a charge ( to replace your debit card) or a BCE/BCP.

IMO, letting your new accts age and keeping that util to your sweet spot is the best cause of action.

Re: MyFICO Scores improving from APP Spree

JonStur — Wed, 12 Jun 2013 18:00:10 GMT

Way to go!!! I'm in recovery phase myself so I know the feeling...

Re: MyFICO Scores improving from APP Spree

fittiger — Wed, 12 Jun 2013 18:18:37 GMT

@Bay_Area_Joe wrote:
Well,
I pulled the trigger today and updated MyFICO TU and EQ.

To my surprise I am recovering nicely from major app spree on 3-13-13.

MyFICO TU is a amazing 793 and MyFICO EQ is a good 755.

J

I just completed an app spree applying for and landing 4 cards. What were your scores before your spree and after they all reported? How many cards did you end up getting in March?

Re: MyFICO Scores improving from APP Spree

Bay_Area_Joe — Wed, 12 Jun 2013 23:05:03 GMT

Here are the stats of spree.

Prior to App Spree MyFico EQ was 766, MyFico TU was 784, and EX from Experian was 742.

So, I did my first ever APP Spree on 3-13-13. I kind of liked 3-13-13 format. All done with in one hour.

Here is what I did.

Pen Fed Cash Rewards Visa. Instant Approval of 19k, EQ Inq.

Pen Fed Personal LOC asked for 25k, Counter offered 20k, accepted, same EQ Inq.

Citi Hilton Honors, Got message, called in and verify a bit of info, Approved 15k, EX Inq.

Sams Club Discover, Got email approved, called in 1.5k credit recon to 3k, TU Inq.

Chase Prioirty Club, called in automated status Approved, 8.4k, EX Inq.

Amex Hilton Surpass, Instant Approval, only 2k, but maybe 61day 3X, EX Inq.

B of A Hawaii Visa, Approved 5k, but 2 HP’s one on TU Inq, 1 on EX Inq.

But, add them, 7 accounts approved in a matter of a few days, total CL of $72,400

Took 4 Exp Inq. 1 EQ Inq, and 2 TU Inq.

After the two Inq on TU, I had 0 prior, MyFICO TU is 784, UTL is 7%, one account w/ bal.

After the one Inq on EQ, I had 4 prior, MyFICO EQ is 774, UTL is 7%, one account w/ bal.

After the four Inq on EX, I had 9 prior in last 12 months (so now 13) My Experian Score is 742.

Smart Credit has me at 776, with the 2 new Inq on TU

Credit Karma has me at 747 with the 2 new Inq on TU

Now I will wait to see the damage in all these new accounts reporting. The only great thing is the Amex Hilton Honors will be backdated 22+ years and that will save my AAoA and make it about 3.3 years.

Total available credit line is an eye popping $ 144,350.00

My income is $104,000 per year.

Re: MyFICO Scores improving from APP Spree

myjourney — Wed, 12 Jun 2013 23:23:12 GMT

Nicely done

I wish we knew more about the perfect storm so to speak..

App'ed June 2012 scores fell of the map 5 months to recover

App'ed Dec 2012 Scores stayed the same started moving upward 1 month later

App'ed June 2013 wish me luck

Somewhere there's a magic amount of account,inq's,aaoa, that makes scores react in a positive way just wish I knew

Congrats on hitting the perfect storm