Does MyFico Treat Credit Apps Like

ScarletFever · ‎05-18-2008

an auto or mortgage by allowing for several apps within a short time period without being punished? If not, has anyone app'd sevreal times within a week or so period without being killed by the inqs? Where were your scores in your scenario?

.Citi FICO-836 Barclays TU FICO; 827. Discover Fic0-826; CK:EQ-821; TU-819; CS-819; Total credit-$165,500: NASA-29,700; AMEX BCP-17,000; AMEX EDP-20,000; CSP-14,400; Barclay Ring-10,000; Discover It-9,000; U.S.Bank Sig Visa13,000; United TeleTech Federal Credit Union-$9000; Citi Double Cash-9900; Citi TYP-7,700; Discover Cashback Bonus-7,200;Chase Freedom-6,500; AMEX HHilton Honors-5000; Barclay NFL Extra Points-$5000. Utility always 1-2%

Anonymous · ‎05-18-2008

ScarletFever wrote:

an auto or mortgage by allowing for several apps within a short time period without being punished? If not, has anyone app'd sevreal times within a week or so period without being killed by the inqs? Where were your scores in your scenario?

No, unfortunately, credit card apps with different creditors are not deduplicated by FICO, the way that mortgage and auto inquiries are.

ScarletFever · ‎05-18-2008

**bleep**. thought so. I guess I just have to roll the dice and hope that I get approved for at least a couple offers with good credit lines...Thanks.

.Citi FICO-836 Barclays TU FICO; 827. Discover Fic0-826; CK:EQ-821; TU-819; CS-819; Total credit-$165,500: NASA-29,700; AMEX BCP-17,000; AMEX EDP-20,000; CSP-14,400; Barclay Ring-10,000; Discover It-9,000; U.S.Bank Sig Visa13,000; United TeleTech Federal Credit Union-$9000; Citi Double Cash-9900; Citi TYP-7,700; Discover Cashback Bonus-7,200;Chase Freedom-6,500; AMEX HHilton Honors-5000; Barclay NFL Extra Points-$5000. Utility always 1-2%

Anonymous · ‎05-18-2008

ScarletFever wrote:

**bleep**. thought so. I guess I just have to roll the dice and hope that I get approved for at least a couple offers with good credit lines...Thanks.

Keep in mind that with a little bit of research you can avoid applying for cards that you are sure you won't qualify for, and limit your apping to various cards that you will be more likely to get. Also, it's good to know which CRA your creditor will pull so that you can spread out the inquiries among the three CRAs. (Inquiries only count against the score on the CRA that was actually pulled.)

Also, if you have a very thin file and need to establish revolving credit, having a couple of inquiries on your reports is a very small price to pay for the addition of a few new revolving accounts.

Message Edited by cheddar on 05-18-2008 03:32 PM