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FICO crashing ... 755---> 750 ----> 740

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Fico2Go
Established Contributor

FICO crashing ... 755---> 750 ----> 740

After weeks of wating for new TLs to show up on my CRs I'm seeing them now.  I've also made some mistakes by not paying by the statement dates on a couple of TLs so some balances are showing up and pushing my UTIL to 11%.   As many of you know December/2013 was a busy month for me.  Added a bunch of new cards and I've been waiting for TL reporting to see the effect.  

 

Well I'm seeing them now and I don't like it.  Smiley Sad

 

Furthermore, the worst isn't here yet when my Chase Slate will be reporting a balance transfer.  Slate statement cut date will be 02/02/2014. 

 

I hope the Slate statement doesn't hit the CRAs until after my Amex 61 day CLI on 02/06/2014.  It's a race to the end...

 

Or, I hope AMEX does a SP on me before SLATE hits the CRs. 

 

.

 

.   

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 1 of 12
11 REPLIES 11
nois
Regular Contributor

Re: FICO crashing ... 755---> 750 ----> 740

Just remember that the drop you're seeing in CS is only temporary and when it starts to climb again you'll have more account data behind the CS which will help dampen the effects of future inqs or balance changes.

 

I've added five new revolving accounts and over 62K in CLs in the last three months so my CS is starting to take a dive. But now I have the bank cards/programs I've been interested in and don't need to app for credit anytime soon.

 

Hope you get your AMEX 3X cli!

 

 


FEB 2014 EQ: 798 EX: 780 TU: 798
Message 2 of 12
FocusedAndDetermined
Senior Contributor

Re: FICO crashing ... 755---> 750 ----> 740

Paying off the balances that reported will have counteract the effects of the new TLs.  In a few months things will start to level out.

Message 3 of 12
Blackrv7
Frequent Contributor

Re: FICO crashing ... 755---> 750 ----> 740


@Fico2Go wrote:

I hope the Slate statement doesn't hit the CRAs until after my Amex 61 day CLI on 02/06/2014.  It's a race to the end...

 

Or, I hope AMEX does a SP on me before SLATE hits the CRs. 

 

.

 

.   


Amex's last sp on me was 12 days prior to my 3x request/increase.  Good luck!!


Current myFico EX 734, EQ 777, TU 742
AAoA 6 years 3 months, Length 25 years 2 months

Message 4 of 12
Fico2Go
Established Contributor

Re: FICO crashing ... 755---> 750 ----> 740

Blackrv, did u leave any balance at time of request for CLI?  

 

 

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 5 of 12
-Wade-
Valued Contributor

Re: FICO crashing ... 755---> 750 ----> 740


@Fico2Go wrote:

After weeks of wating for new TLs to show up on my CRs I'm seeing them now.  I've also made some mistakes by not paying by the statement dates on a couple of TLs so some balances are showing up and pushing my UTIL to 11%.   As many of you know December/2013 was a busy month for me.  Added a bunch of new cards and I've been waiting for TL reporting to see the effect.  

 

Well I'm seeing them now and I don't like it.  Smiley Sad

 

Furthermore, the worst isn't here yet when my Chase Slate will be reporting a balance transfer.  Slate statement cut date will be 02/02/2014. 

 

I hope the Slate statement doesn't hit the CRAs until after my Amex 61 day CLI on 02/06/2014.  It's a race to the end...

 

Or, I hope AMEX does a SP on me before SLATE hits the CRs. 

 

.

 

.   


Once the dust settles in 3-6 months your scores should come back, may be a lil higher!!! Good luck on Amex CLI

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 6 of 12
Fico2Go
Established Contributor

Re: FICO crashing ... 755---> 750 ----> 740

Strange things are happening. 

 

Pulled my CR today and noticed myfico jumped up 10 points.  The only difference is one extra $0 balance added to the report. 

 

The most recent AMEX SP for me was on Jan. 7. 

 

Any tips on whether to zero out AMEX balance before CLI request or keep a small $100 balance on there?

 

 

 

 

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 7 of 12
-Wade-
Valued Contributor

Re: FICO crashing ... 755---> 750 ----> 740


@Fico2Go wrote:

Strange things are happening. 

 

Pulled my CR today and noticed myfico jumped up 10 points.  The only difference is one extra $0 balance added to the report. 

 

The most recent AMEX SP for me was on Jan. 7. 

 

Any tips on whether to zero out AMEX balance before CLI request or keep a small $100 balance on there?

 

 

 

 


Amex likes usage and PIF!!! I think you will be fine either way

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 8 of 12
Blackrv7
Frequent Contributor

Re: FICO crashing ... 755---> 750 ----> 740


@Fico2Go wrote:

Blackrv, did u leave any balance at time of request for CLI?  

 

 


I had both my delta card and business Amex pif'd.  When I got my 3x, I immediately appt'd for my BCP and got an instant $8K on it.  Some say it doesn't matter to leave a balance as Amex knows your spend and pay patterns anyway.  My ult at their last sp date was 1%.


Current myFico EX 734, EQ 777, TU 742
AAoA 6 years 3 months, Length 25 years 2 months

Message 9 of 12
Fico2Go
Established Contributor

Re: FICO crashing ... 755---> 750 ----> 740

Thanks, let's hope everyone is right.  If going by my last Amex SP my util would be 1%.   

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 10 of 12
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