Random question thread.

[haulingthescoreup]

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@Datx wrote:

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@haulingthescoreup wrote:

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@CS800 wrote:
I would add a charge card for credit mix.. I would say the AMEX Zync

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Charge cards don't help credit mix. If all you had were store cards, it would help to add a bank card like a VISA, AmEx, etc. But American Express charge cards are just another bank card. They don't do anything special for your scores.

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Would it also mean that it doesnt negatively impact your score? Just asking since its a new account being added to your credit report, and possibly affecting your AAoA. What if its a new Amex charge card that is backdated?

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Credit mix is a different factor from new accounts, AAoA, etc. Addding an AmEx charge card like Zync might help, hurt, or do neither, depending on your individual credit profile. But the impact would be the same as that for a BofA MC, a Chase VISA, etc.

eta: OK, there might be a slight difference in the impact IF you allow balances to display. Since the AmEx charge cards don't report limits, they don't help your revolving util. Other cards that do report limits can help.

If you don't have balances reporting, or if you already have a high total CL, there probably would not be an advantage in adding a card that reports a limit, and so in that scenario, the impact would be the same.

[Anonymous]

So I noticed yesterday when I reported my amazon card lost that it closed my old account and opened a new one with the same age as the old one, increasing my AAoA....

So can I just report my oldest account lost/stolen and it will close and open a new account with the same age again further increasing my AAoA?

[wmarat]

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@Anonymous wrote:
This thread is for questions that do not merit a whole thread for themselves. I'll go first : Is it possible that a fraud alert on my credit report might cause me to get declined?

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Yes, it might.

[Anonymous]

Now I see why a thread like this was a bad idea -_-

[Anonymous]

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@Anonymous wrote:

So I noticed yesterday when I reported my amazon card lost that it closed my old account and opened a new one with the same age as the old one, increasing my AAoA....

So can I just report my oldest account lost/stolen and it will close and open a new account with the same age again further increasing my AAoA?

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I'm going to go with YMMV, I doubt all companies would do that, not to mention its fraud if you're doing it on puropse..

[Anonymous]

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@Anonymous wrote:
This thread is for questions that do not merit a whole thread for themselves. I'll go first : Is it possible that a fraud alert on my credit report might cause me to get declined?

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   Is it considered a "negative" to get CLI's on your existing cards within the same month/week? I received a FICO memo on one of my recently credit approval letter that      stated.."Too many recent new credit limit increases". 

Ms. Nae

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
This thread is for questions that do not merit a whole thread for themselves. I'll go first : Is it possible that a fraud alert on my credit report might cause me to get declined?

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   Is it considered a "negative" to get CLI's on your existing cards within the same month/week? I received a FICO memo on one of my recently credit approval letter that      stated.."Too many recent new credit limit increases". 

Ms. Nae

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That sounds odd.. But if anything, I'd say its negative only because when applying for new credit, they look at asking for more and more credit increases in a short period of time as a lending risk.  Some Analysts may think that you're planning to max out and end up never paying it back.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

So I noticed yesterday when I reported my amazon card lost that it closed my old account and opened a new one with the same age as the old one, increasing my AAoA....

So can I just report my oldest account lost/stolen and it will close and open a new account with the same age again further increasing my AAoA?

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I'm going to go with YMMV, I doubt all companies would do that, not to mention its fraud if you're doing it on puropse..

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It may be fraud but it wouldn't be illegal, nor wrong IMO.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
This thread is for questions that do not merit a whole thread for themselves. I'll go first : Is it possible that a fraud alert on my credit report might cause me to get declined?

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   Is it considered a "negative" to get CLI's on your existing cards within the same month/week? I received a FICO memo on one of my recently credit approval letter that      stated.."Too many recent new credit limit increases". 

Ms. Nae

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I didn't know FICO kept track of CLIs o_O

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:
This thread is for questions that do not merit a whole thread for themselves. I'll go first : Is it possible that a fraud alert on my credit report might cause me to get declined?

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   Is it considered a "negative" to get CLI's on your existing cards within the same month/week? I received a FICO memo on one of my recently credit approval letter that      stated.."Too many recent new credit limit increases". 

Ms. Nae

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That sounds odd.. But if anything, I'd say its negative only because when applying for new credit, they look at asking for more and more credit increases in a short period of time as a lending risk.  Some Analysts may think that you're planning to max out and end up never paying it back.

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 Thx you Pet, 

 I did a double take when I read it. Made no sense. I had (at the time) 5 cards, I received CLI on 4 of them in two days.  I called for them. I hadn't had any CLI in a year on any of them. I thought it was time.  No spending sprees planned at all. Purely for score purposes. 

Ms. Nae