topic Re: new credit in Understanding FICO® Scoring

new credit

ironchef — Fri, 20 Sep 2019 21:30:39 GMT

Hello all!

just wanted to do a little pick your brain research on how far apart on time is a good time line for a new trade line app that dosent effect your CB Score ?

FYI Scores fico9 ex 793/fico8 778, TUfico8 791, EQ fico8 780

INQ are ex3, tu2, eq1

last 2 tradelines 7mo Ago 1 on TU,1 on EX

I have serveral pre approv with Amex, WF, & Apple ..

So no concern of getting approv just how it will effect my score!

any insight would help.? thanks all

Re: new credit

AllZero — Fri, 20 Sep 2019 22:10:54 GMT

In general, none. It will affect your CB scores.

As far as timing apps, 6 month is a safe number.

New inquiry - expect penalty points.
New account - expect penalty points.
AoYA >12 months -> 0 months. Expect penalty points.

Re: new credit

FireMedic1 — Fri, 20 Sep 2019 22:32:16 GMT

If your looking for how many points you'll lose after getting a new account. Theres no real exact pinpoint number that can be given. Thick files get less of a hit than thin files. So much goes into it. Number of accounts, age of oldest account, average age of accounts, how many accounts opened in the last year and the list goes on and on. The cards you list are nice cards. If you want one of the cards that fits your lifestyle and with the scores you posted. Then go for it. Scores rebound back to where they were shortly after in most cases. YMMV. Good Luck!

Re: new credit

SouthJamaica — Fri, 20 Sep 2019 22:43:55 GMT

@ironchef wrote:
Hello all!
just wanted to do a little pick your brain research on how far apart on time is a good time line for a new trade line app that dosent effect your CB Score ?
FYI Scores fico9 ex 793/fico8 778, TUfico8 791, EQ fico8 780
INQ are ex3, tu2, eq1
last 2 tradelines 7mo Ago 1 on TU,1 on EX
I have serveral pre approv with Amex, WF, & Apple ..
So no concern of getting approv just how it will effect my score!
any insight would help.? thanks all

Sometimes a few points, sometimes none.

Re: new credit

FireMedic1 — Fri, 20 Sep 2019 22:59:34 GMT

@SouthJamaicais correct. My last two cards were 0 hits. But you left out how many cards you have. Last one was 7 months ago I see.