topic Re: Nice Surprise From Discover in Credit Cards

Nice Surprise From Discover

chrisw1968uk — Thu, 06 Feb 2014 17:46:23 GMT

Hi All

Even though I know it is not "Real" - I keep a weekly check on Credit Karma and have seen my score drop to around 680 (its lowest ever) because of my new accounts, reducing aaoa etc

I recently upgraded to Discover It and just saw my free Fico score for the first time, it mentioned that my relatively short history was hurting my score and that i am using too much of my available credit - currently around 22%, which will be paid off within about 3 months (i made use of the 0% for a large purchase) - but it STILL said my Fico score was 751, I'm pretty stoked - so this score would be accurate?? - and would only get better as my balances decrease??? WHOO HOO lol

Re: Nice Surprise From Discover

coldnmn — Thu, 06 Feb 2014 17:48:15 GMT

Congrats! Thanks for sharing.

Re: Nice Surprise From Discover

indiolatino61 — Thu, 06 Feb 2014 17:54:56 GMT

@chrisw1968uk wrote:
Hi All

Even though I know it is not "Real" - I keep a weekly check on Credit Karma and have seen my score drop to around 680 (its lowest ever) because of my new accounts, reducing aaoa etc

I recently upgraded to Discover It and just saw my free Fico score for the first time, it mentioned that my relatively short history was hurting my score and that i am using too much of my available credit - currently around 22%, which will be paid off within about 3 months (i made use of the 0% for a large purchase) - but it STILL said my Fico score was 751, I'm pretty stoked - so this score would be accurate?? - and would only get better as my balances decrease??? WHOO HOO lol

Congrats on your score.

Re: Nice Surprise From Discover

yudeology101 — Thu, 06 Feb 2014 18:12:12 GMT

WTG! Looking good, thanks for sharing your progress.

Re: Nice Surprise From Discover

gdale6 — Thu, 06 Feb 2014 22:26:33 GMT

Congrats, and yes the FICO is real a FICO 08 model.

Re: Nice Surprise From Discover

myjourney — Thu, 06 Feb 2014 22:28:59 GMT

@chrisw1968uk wrote:
Hi All

Even though I know it is not "Real" - I keep a weekly check on Credit Karma and have seen my score drop to around 680 (its lowest ever) because of my new accounts, reducing aaoa etc

I recently upgraded to Discover It and just saw my free Fico score for the first time, it mentioned that my relatively short history was hurting my score and that i am using too much of my available credit - currently around 22%, which will be paid off within about 3 months (i made use of the 0% for a large purchase) - but it STILL said my Fico score was 751, I'm pretty stoked - so this score would be accurate?? - and would only get better as my balances decrease??? WHOO HOO lol

Congrats great score and just wait until the balances are lower should go up more

Re: Nice Surprise From Discover

-Wade- — Thu, 06 Feb 2014 22:42:42 GMT

@chrisw1968uk wrote:
Hi All

Even though I know it is not "Real" - I keep a weekly check on Credit Karma and have seen my score drop to around 680 (its lowest ever) because of my new accounts, reducing aaoa etc

I recently upgraded to Discover It and just saw my free Fico score for the first time, it mentioned that my relatively short history was hurting my score and that i am using too much of my available credit - currently around 22%, which will be paid off within about 3 months (i made use of the 0% for a large purchase) - but it STILL said my Fico score was 751, I'm pretty stoked - so this score would be accurate?? - and would only get better as my balances decrease??? WHOO HOO lol

Congrats

Re: Nice Surprise From Discover

efranklin23 — Fri, 07 Feb 2014 02:19:45 GMT

@myjourney wrote:
@chrisw1968uk wrote:
Hi All

Even though I know it is not "Real" - I keep a weekly check on Credit Karma and have seen my score drop to around 680 (its lowest ever) because of my new accounts, reducing aaoa etc

I recently upgraded to Discover It and just saw my free Fico score for the first time, it mentioned that my relatively short history was hurting my score and that i am using too much of my available credit - currently around 22%, which will be paid off within about 3 months (i made use of the 0% for a large purchase) - but it STILL said my Fico score was 751, I'm pretty stoked - so this score would be accurate?? - and would only get better as my balances decrease??? WHOO HOO lol
Congrats great score and just wait until the balances are lower should go up more

+1 It's 08 TU score I believe

Re: Nice Surprise From Discover

ecxpa — Fri, 07 Feb 2014 04:49:56 GMT

It's a FICO score for sure........I think some lenders use whatever version this is as over the paste few months I received some denial letters from lenders and it listed the same FICO showing on my Discover and Barclays statements.......I did a recon with BOA earlier and this was the score they used. I don't know how many lenders use this version ......it would be nice to know

Re: Nice Surprise From Discover

CreditUnionFan — Sat, 08 Feb 2014 04:47:29 GMT

Yes, the FICO Score from Discover is a great addition. It was frustrating for a while that they offered the score on "IT" but not the other cards, like those of us that have 10+ year old cards, why would we want to open a new, virtually identical, card.

CreditKarma and CreditSesame seemed reliable for a while... Credit Sesame keeps losing my score, resetting it to N/A. CreditKarma seems lkocked at 695 in their model, until they drop me down to 690. All the while, I knew my FICO was hitting 717, 720, etc from other lenders.

My Discover FICO came in at 740! I was like, WOW! I'm glad to see a real FICO that's at least one of the ones a lender would use.

Re: Nice Surprise From Discover

flan — Sat, 08 Feb 2014 05:29:49 GMT

@CreditUnionFan wrote:
Yes, the FICO Score from Discover is a great addition. It was frustrating for a while that they offered the score on "IT" but not the other cards, like those of us that have 10+ year old cards, why would we want to open a new, virtually identical, card.

There's very little, if any, reason not to swtich to the IT. They'll do it over the phone. It might take two minutes. Nothing else changes. You can continue to use the card you have until it expires.

Re: Nice Surprise From Discover

Anonymous — Sat, 08 Feb 2014 06:26:22 GMT

@flan wrote:
@CreditUnionFan wrote:
Yes, the FICO Score from Discover is a great addition. It was frustrating for a while that they offered the score on "IT" but not the other cards, like those of us that have 10+ year old cards, why would we want to open a new, virtually identical, card.

There's very little, if any, reason not to swtich to the IT. They'll do it over the phone. It might take two minutes. Nothing else changes. You can continue to use the card you have until it expires.

Yeah you should PC to the IT. No reason not to, you are not opening a new account.

Also, the TU model Discover offers is actually several points higher than my TU shown here at myFICO. I think Discovers is the bank card enhanced version But not sure.