The Negative Side of the "MyFICO Addiction"

[Anonymous]

I think we can all agree that these forums are amazing! An absolute GREAT resource to many of us!

However, I feel that I everytime I get really re-engaged in the multiple topics around the fourm (and learn tons), I begin to get the "myFico itch." I want to start pulling my reports like crazy, look for new cards to app for, and call all my banks and request APR reductions and CLIs.

When, I'm less active I live life a little more fully and don't worry as much about the above...this is all kind-of funny. But, I was wondering if you all felt the same? In essence,  the forums (asthey new this before launching them) help customers as well as sell their products (which really are good qaulity).

In the end, I use to have a the "bad credit disease", I've been cured thanks to my "myFico.com medication;" however, there are some long-term side effects, lol.  

[Anonymous]

Sometimes the cure is worse then the disease!

Message Edited by krystofur on 02-01-2008 12:30 PM

[Anonymous]

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pjriverap wrote:

I think we can all agree that these forums are amazing! An absolute GREAT resource to many of us!

However, I feel that I everytime I get really re-engaged in the multiple topics around the fourm (and learn tons), I begin to get the "myFico itch." I want to start pulling my reports like crazy, look for new cards to app for, and call all my banks and request APR reductions and CLIs.

When, I'm less active I live life a little more fully and don't worry as much about the above...this is all kind-of funny. But, I was wondering if you all felt the same? In essence,  the forums (asthey new this before launching them) help customers as well as sell their products (which really are good qaulity).

In the end, I use to have a the "bad credit disease", I've been cured thanks to my "myFico.com medication;" however, there are some long-term side effects, lol.  

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PJ- you will get over it in time. And yes, in the beginning most of the people do pull their reports very frequently or use a daily monitoring service. Going from not paying your bills to pulling reports could be seen as a good thing

After a while you will see that pulling from Fico itself that once a quarter is genrally good.

[Anonymous]

PS- again , going from not paying bills to being totally aware is a great step up!!

[Anonymous]

ya know i was just think ing about this. whoever thought of selling fico scores through a forum should have negotiated a piece of the action. if they didn't fair isac should go hat in hand with a huge bonus check.

[Anonymous]

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pjriverap wrote:

I think we can all agree that these forums are amazing! An absolute GREAT resource to many of us!

However, I feel that I everytime I get really re-engaged in the multiple topics around the fourm (and learn tons), I begin to get the "myFico itch." I want to start pulling my reports like crazy, look for new cards to app for, and call all my banks and request APR reductions and CLIs.

When, I'm less active I live life a little more fully and don't worry as much about the above...this is all kind-of funny. But, I was wondering if you all felt the same? In essence,  the forums (asthey new this before launching them) help customers as well as sell their products (which really are good qaulity).

In the end, I use to have a the "bad credit disease", I've been cured thanks to my "myFico.com medication;" however, there are some long-term side effects, lol.  

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Yep, I agree completely, but I have found that living by a few "rules" helps me control my desire to both apply for new cards and pull my scores too frequently.  It's kind of complicated, but it works for me.

This is my system.  I know this kind of thing doesn't work for everyone, but hey, I'm a software developer; this "rule-oriented" approach is just a result of the way I think.

Rule #1)  Only pull one score per month, on a rotating basis.  To some this may sound like a lot.  To me this is just right.  It's an ongoing expense of about $12 per month.  I can live with that.

Rule #2)  Keep a wishlist, and don't apply for anything that hasn't been on that list for at least 3 months.  This rule lets me avoid impulsive apping.

Rule #3) Don't apply for new credit until I know what my score is on the day that I apply, and only apply if the score is higher than the last time I pulled it.

So, let's say I decide I want an Amex Platinum.  It goes onto the wishlist, and I have to wait three months before I even consider it again.  If I still want it three months later, then rule #3 kicks in, and now I have to wait until I'm allowed to pull EX according to Rule #1, which could be another couple of months.  If EX has gone down since the last time I pulled it, I have to wait until EX's turn rolls around again three months later, and hope it has recovered in the meantime.

With this system, I always have at least a 3-5 month "cooling off" period before I apply for something.  It's worked well for me so far.

Message Edited by cheddar on 02-01-2008 12:55 PM

[rred4]

I was just thinking about this, I spend so much money on MYFico scores that I could have paid back some of my old collections.  My TU is only 15 days old but I want to see how my Hooters Card uti effects my score so I have to pull again.  

[score_building]

the thread i started called "confessions of a closeted fico addict' could essentially be merged with this one or others -i'm sure.. it's funny how (at least for me at first) you think you're the only one feeling the effects of new found fico moxy as a near addiction.  It is nice to know it is sort of the nature of the beast from what i've been reading (for hours a day )and that there are a host of effective coping mechanisms one can employ at will (not the least of which is The Fico Sleigh Center for Appaholics) and i love your cardinal 3 rules which i'll incorporate into my personal arsenal of fico restraint techniques, if ya don't mind...

Message Edited by score_building on 02-01-2008 02:01 PM

[Anonymous]

I does take a huge amount of time form my day. On the bright side it helps pass the hours wen it's slow.

[Anonymous]

Hey cheddar, that's an amazing system.  You should sell it to S. Orman!