topic Re: Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry in Understanding FICO® Scoring

Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry

Anonymous — Mon, 24 Jun 2019 22:07:38 GMT

Ok so I got my 2 cards that I applied for last week from US Bank and Discover today, I am wondering if I should activate them now?

Us Bank TU ...unsure of the drop

Discover Ex Fico 818 dropped to 801 with 1 Inquiry

I want to active my Discover to get my TU Fico score to see how many pts it dropped, but some on the board said they are quick to report the card to the 3. I know when that happens my Fico score will drop some more, and I need to apply for a couple of more cards in July so I am hesitate to active my new cards, untill I am done applying. And yes the 17 pts was from the Inquiry and not the account since its not even on my credit profile as I checked today with Experian

Re: Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry

Anonymous — Mon, 24 Jun 2019 22:15:38 GMT

Just activate them. It's going to take Disco a month or two before they give you your FICO anyway.

Re: Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry

Jnbmom — Mon, 24 Jun 2019 22:22:54 GMT

Activating the cards is not going to accelerate their reporting them.

Re: Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry

SouthJamaica — Mon, 24 Jun 2019 22:52:49 GMT

@Anonymous wrote:
Ok so I got my 2 cards that I applied for last week from US Bank and Discover today, I am wondering if I should activate them now?

Us Bank TU ...unsure of the drop
Discover Ex Fico 818 dropped to 801 with 1 Inquiry

I want to active my Discover to get my TU Fico score to see how many pts it dropped, but some on the board said they are quick to report the card to the 3. I know when that happens my Fico score will drop some more, and I need to apply for a couple of more cards in July so I am hesitate to active my new cards, untill I am done applying. And yes the 17 pts was from the Inquiry and not the account since its not even on my credit profile as I checked today with Experian

1. You should activate them right away.

2. Activation has no effect one way or the other on when the accounts are reported to the bureaus.

Re: Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry

Remedios — Mon, 24 Jun 2019 23:11:46 GMT

Discover will pull your scores a couple of days before statement closes. As everyone else stated, activation has nothing to with this.

US Bank does not even offer Fico score when they do SP , so once again, activation is not related to that process

Re: Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry

Anonymous — Tue, 25 Jun 2019 00:00:33 GMT

Activated ...Thanks ...overthinking now that the rebuild of credit is happening

Re: Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry

NRB525 — Tue, 25 Jun 2019 04:19:24 GMT

Congrats on the new cards.

What does your list of cards look like now, and limits?

Why the rush to apply for more cards in July? Discover is getting 2x for the first year? Dining comes up in Q3. 10%.

Which US Bank card?

Re: Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry

Anonymous — Tue, 25 Jun 2019 14:43:21 GMT

@NRB525 wrote:
Congrats on the new cards.
What does your list of cards look like now, and limits?
Why the rush to apply for more cards in July? Discover is getting 2x for the first year? Dining comes up in Q3. 10%.
Which US Bank card?

Current Cards and inquries

Cap1 $6500 used only for cellphone bill

US Bank Plat $5000 ( TU 1)

Discover It $2750 (Ex 1)

Next for July because I want to start the garden and be done, I expect the following when I am done to show how many inquries total for each 3. Pts are not my thing at the moment, but looking for 0% APRs as I need to transfer some business debt over to my personal side to get away from higher APRs, plus these transfers will be garden and show payment history

Amex Blue Business (Ex 2)

Citizen One Personal loan and CC (EQ 2)

Barclays (Tu 2)

Re: Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry

Anonymous — Tue, 25 Jun 2019 19:38:09 GMT

Just be careful about transfering Business dept to the personal side. Saving Money on interest is great, but not at the expense of over utilization or possibly a worse case scenario.

Good luck though on your rebuild!

Re: Activate cards or wait until I apply for more cards? Fico already down 17 pts on Inquiry

Anonymous — Tue, 25 Jun 2019 20:37:17 GMT

@Anonymous wrote:
Just be careful about transfering Business dept to the personal side. Saving Money on interest is great, but not at the expense of over utilization or possibly a worse case scenario.

Good luck though on your rebuild!

I created a spreadsheet for my plan its under 21% overall and within reason