topic Re: FICO crashing ... 755---> 750 ----> 740 in Credit Cards

FICO crashing ... 755---> 750 ----> 740

Fico2Go — Thu, 30 Jan 2014 15:57:12 GMT

After weeks of wating for new TLs to show up on my CRs I'm seeing them now. I've also made some mistakes by not paying by the statement dates on a couple of TLs so some balances are showing up and pushing my UTIL to 11%. As many of you know December/2013 was a busy month for me. Added a bunch of new cards and I've been waiting for TL reporting to see the effect.

Well I'm seeing them now and I don't like it.

Furthermore, the worst isn't here yet when my Chase Slate will be reporting a balance transfer. Slate statement cut date will be 02/02/2014.

I hope the Slate statement doesn't hit the CRAs until after my Amex 61 day CLI on 02/06/2014. It's a race to the end...

Or, I hope AMEX does a SP on me before SLATE hits the CRs.

Re: FICO crashing ... 755---> 750 ----> 740

Anonymous — Thu, 30 Jan 2014 16:12:13 GMT

Just remember that the drop you're seeing in CS is only temporary and when it starts to climb again you'll have more account data behind the CS which will help dampen the effects of future inqs or balance changes.

I've added five new revolving accounts and over 62K in CLs in the last three months so my CS is starting to take a dive. But now I have the bank cards/programs I've been interested in and don't need to app for credit anytime soon.

Hope you get your AMEX 3X cli!

Re: FICO crashing ... 755---> 750 ----> 740

FocusedAndDetermined — Thu, 30 Jan 2014 16:13:12 GMT

Paying off the balances that reported will have counteract the effects of the new TLs. In a few months things will start to level out.

Re: FICO crashing ... 755---> 750 ----> 740

Anonymous — Thu, 30 Jan 2014 16:54:03 GMT

@Fico2Go wrote:

I hope the Slate statement doesn't hit the CRAs until after my Amex 61 day CLI on 02/06/2014. It's a race to the end...

Or, I hope AMEX does a SP on me before SLATE hits the CRs.

.

.

Amex's last sp on me was 12 days prior to my 3x request/increase. Good luck!!

Re: FICO crashing ... 755---> 750 ----> 740

Fico2Go — Thu, 30 Jan 2014 16:59:56 GMT

Blackrv, did u leave any balance at time of request for CLI?

Re: FICO crashing ... 755---> 750 ----> 740

-Wade- — Thu, 30 Jan 2014 17:02:14 GMT

@Fico2Go wrote:
After weeks of wating for new TLs to show up on my CRs I'm seeing them now. I've also made some mistakes by not paying by the statement dates on a couple of TLs so some balances are showing up and pushing my UTIL to 11%. As many of you know December/2013 was a busy month for me. Added a bunch of new cards and I've been waiting for TL reporting to see the effect.

Well I'm seeing them now and I don't like it.

Furthermore, the worst isn't here yet when my Chase Slate will be reporting a balance transfer. Slate statement cut date will be 02/02/2014.

I hope the Slate statement doesn't hit the CRAs until after my Amex 61 day CLI on 02/06/2014. It's a race to the end...

Or, I hope AMEX does a SP on me before SLATE hits the CRs.

.

.

Once the dust settles in 3-6 months your scores should come back, may be a lil higher!!! Good luck on Amex CLI

Re: FICO crashing ... 755---> 750 ----> 740

Fico2Go — Thu, 30 Jan 2014 17:33:37 GMT

Strange things are happening.

Pulled my CR today and noticed myfico jumped up 10 points. The only difference is one extra $0 balance added to the report.

The most recent AMEX SP for me was on Jan. 7.

Any tips on whether to zero out AMEX balance before CLI request or keep a small $100 balance on there?

Re: FICO crashing ... 755---> 750 ----> 740

-Wade- — Thu, 30 Jan 2014 17:45:01 GMT

@Fico2Go wrote:
Strange things are happening.

Pulled my CR today and noticed myfico jumped up 10 points. The only difference is one extra $0 balance added to the report.

The most recent AMEX SP for me was on Jan. 7.

Any tips on whether to zero out AMEX balance before CLI request or keep a small $100 balance on there?

Amex likes usage and PIF!!! I think you will be fine either way

Re: FICO crashing ... 755---> 750 ----> 740

Anonymous — Thu, 30 Jan 2014 18:08:51 GMT

@Fico2Go wrote:
Blackrv, did u leave any balance at time of request for CLI?

I had both my delta card and business Amex pif'd. When I got my 3x, I immediately appt'd for my BCP and got an instant $8K on it. Some say it doesn't matter to leave a balance as Amex knows your spend and pay patterns anyway. My ult at their last sp date was 1%.

Re: FICO crashing ... 755---> 750 ----> 740

Fico2Go — Thu, 30 Jan 2014 19:14:05 GMT

Thanks, let's hope everyone is right. If going by my last Amex SP my util would be 1%.

Re: FICO crashing ... 755---> 750 ----> 740

-Wade- — Thu, 30 Jan 2014 19:20:17 GMT

@Fico2Go wrote:
Thanks, let's hope everyone is right. If going by my last Amex SP my util would be 1%.

Good luck

Re: FICO crashing ... 755---> 750 ----> 740

Anonymous — Thu, 30 Jan 2014 19:46:03 GMT

@Wade64 wrote:
@Fico2Go wrote:
After weeks of wating for new TLs to show up on my CRs I'm seeing them now. I've also made some mistakes by not paying by the statement dates on a couple of TLs so some balances are showing up and pushing my UTIL to 11%. As many of you know December/2013 was a busy month for me. Added a bunch of new cards and I've been waiting for TL reporting to see the effect.

Well I'm seeing them now and I don't like it.

Furthermore, the worst isn't here yet when my Chase Slate will be reporting a balance transfer. Slate statement cut date will be 02/02/2014.

I hope the Slate statement doesn't hit the CRAs until after my Amex 61 day CLI on 02/06/2014. It's a race to the end...

Or, I hope AMEX does a SP on me before SLATE hits the CRs.

.

.
Once the dust settles in 3-6 months your scores should come back, may be a lil higher!!! Good luck on Amex CLI

+1. In Aug of 2012, I added four new cards. My EQ score went from 723 down into the upper 600s. I gritted my teeth and waited, reminding myself that at least I got the cards I had wanted. Within 3 months, my scores had bounced back up and within a few more months -- with all of the positive history reporting -- they were even higher. Take heart in knowing that the new account ding will fade.