topic Re: How come?? in Understanding FICO® Scoring

How come??

kobe2012 — Sun, 11 Nov 2012 20:20:52 GMT

I am in my rebuilding journey since March of this year and my scores have improved since.... am just wondering, how come when I opened my walmart and my chevron in May, walmart TU score started at 632, six months later my score a few days ago from walmart was only 648.... although I did opened 6 cards the past six months, I thought it should bounced back after the six month mark??.... myfico TU is actually at least 20+ points higher than my walmart, but i would think with all the good payments and all, my score would be higher than 648....any thoughts??

Re: How come??

laz98 — Sun, 11 Nov 2012 21:17:13 GMT

@kobe2012 wrote:
I am in my rebuilding journey since March of this year and my scores have improved since.... am just wondering, how come when I opened my walmart and my chevron in May, walmart TU score started at 632, six months later my score a few days ago from walmart was only 648.... although I did opened 6 cards the past six months, I thought it should bounced back after the six month mark??

You thought it would bounce back to what?

.... myfico TU is actually at least 20+ points higher than my walmart, but i would think with all the good payments and all, my score would be higher than 648....any thoughts??

The MyFICO TU & the Walmart TU are different models, so that's why there is a variation (I don't know if you knew that or not, some people don't). Your score might not be as high as you would like depending on what your balances are reporting as each month. Also, opening 6 accounts probably dropped your AAoA pretty good, so it could be a while before you get your score up to where you would like it.

Re: How come??

bettercreditguy1 — Mon, 12 Nov 2012 02:42:28 GMT

Additionally, the sting of "new credit" is going to haunt you for six to twelve months. Why, because Fico believes if you increase credit, you are an increased risk. Not always true, especially if you take a hard hit (hard pull) on your credit report for a cli, because not everybody is going to use the ultimate max of the new credit increase.

Re: How come??

Shogun — Tue, 13 Nov 2012 04:50:59 GMT

+1 You took a hit on your AAoA and for Inqs on the new accounts. Let them garden, you'll go up.