Does anybody have PROOF that Many tradelines and Store cards are bad?

[Anonymous]

[Anonymous]

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@Revelate wrote:

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@Anonymous wrote:

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CAPTOOL wrote 

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She posted her Barclays score - 782 - which is a TU Fico 8, the same as is provided by MyFico. And she did not claim she did it with two accounts.

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I don't doubt the validity of the score, very impressive.  You must admit it is unusual for such a high score in 2 years and only 6 tradelines ever.

You yourself have 6 active cards and a 800+ score, may I ask how many years your AAoA and your total number of lines on your CR?  Do you have old accounts?  Respectfully asking Sir, you don't have to anser if I'm being too nosy.

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Do your own research for once, if someone can hit 740-750 with 2 cards in far less time, why is 780 unreasonable in 2 years?  

This is FICO 8 we're talking about; if you want to talk other scores (FICO 04 or earlier) fine, but FICO 8 ain't hard to get gold plated.  Your 50 tradelines doesn't mean crap to the algorithm other than possibly somewhat accelerated payment history, maybe.

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You of all people should understand buckets, you know why you can reach 750 but not 780.

So Just as I thought... no proof of somebody in the 780s with only 2 credit cards.

Lol, millions of threads and not even 1 single piece of proof.  

This 2 cards and 780s in 2 years is a fairy tale.  At least we squashed that one.

Moving on to store cards, any proof that store cards are bad?

[Anonymous]

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@Anonymous wrote:

My EX and Eq scores were well into the 750s with less than a year (more like 6 mos) AAOA before I finished paying off my first share secured loan.

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Thankyou for taking the time to post your scores, pfarro.    It looks like you are getting ALOT of new cards and your score is improving way faster than people with just "2-3 cards for optimum scoring".

Great job on the quick credit.  7 cards in just a few months is a very good idea and why I tell people go get a bunch as EARLY in their credit history as they can.

You're well on your way to 20+ credit cards and you see how quickly your score is rising...and you will never have to fear AAoA again as the normals do.  

Your start is much more aggressive than mine, I only started with 5 cards, you ran straight to 7...nice.

You are a perfect example of why it's a great idea to bum-rush your credit early and attain as many credit lines as you can.  Look at that quick run to 750 and you'll see the power of quantity.  

When's your next app spree?

[Anonymous]

Never. I started with 5 cards and 2 loans. Once my mortgage gts signed I will be eliminating 2 of the cards and adding 1. Dont want 20 cards, certainly dont need em.

[Revelate]

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@Anonymous wrote:

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@Revelate wrote:

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@Anonymous wrote:

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CAPTOOL wrote 

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She posted her Barclays score - 782 - which is a TU Fico 8, the same as is provided by MyFico. And she did not claim she did it with two accounts.

---

I don't doubt the validity of the score, very impressive.  You must admit it is unusual for such a high score in 2 years and only 6 tradelines ever.

You yourself have 6 active cards and a 800+ score, may I ask how many years your AAoA and your total number of lines on your CR?  Do you have old accounts?  Respectfully asking Sir, you don't have to anser if I'm being too nosy.

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Do your own research for once, if someone can hit 740-750 with 2 cards in far less time, why is 780 unreasonable in 2 years?  

This is FICO 8 we're talking about; if you want to talk other scores (FICO 04 or earlier) fine, but FICO 8 ain't hard to get gold plated.  Your 50 tradelines doesn't mean crap to the algorithm other than possibly somewhat accelerated payment history, maybe.

---

You of all people should understand buckets, you know why you can reach 750 but not 780.

So Just as I thought... no proof of somebody in the 780s with only 2 credit cards.

Lol, millions of threads and not even 1 single piece of proof.  

This 2 cards and 780s in 2 years is a fairy tale.  At least we squashed that one.

Moving on to store cards, any proof that store cards are bad?

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I am absolutely confident I know bucketing better than you do based on how little you invest in this other than antagonizing others.

Anything else I post is going to get me slapped with a TOS violation so I hope you have a good life.

[myjourney]

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@Revelate wrote:

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@Anonymous wrote:

---

@Revelate wrote:

---

@Anonymous wrote:

---

CAPTOOL wrote 

---

She posted her Barclays score - 782 - which is a TU Fico 8, the same as is provided by MyFico. And she did not claim she did it with two accounts.

---

I don't doubt the validity of the score, very impressive.  You must admit it is unusual for such a high score in 2 years and only 6 tradelines ever.

You yourself have 6 active cards and a 800+ score, may I ask how many years your AAoA and your total number of lines on your CR?  Do you have old accounts?  Respectfully asking Sir, you don't have to anser if I'm being too nosy.

---

Do your own research for once, if someone can hit 740-750 with 2 cards in far less time, why is 780 unreasonable in 2 years?  

This is FICO 8 we're talking about; if you want to talk other scores (FICO 04 or earlier) fine, but FICO 8 ain't hard to get gold plated.  Your 50 tradelines doesn't mean crap to the algorithm other than possibly somewhat accelerated payment history, maybe.

---

You of all people should understand buckets, you know why you can reach 750 but not 780.

So Just as I thought... no proof of somebody in the 780s with only 2 credit cards.

Lol, millions of threads and not even 1 single piece of proof.  

This 2 cards and 780s in 2 years is a fairy tale.  At least we squashed that one.

Moving on to store cards, any proof that store cards are bad?

---

I am absolutely confident I know bucketing better than you do based on how little you invest in this other than antagonizing others.

Anything else I post is going to get me slapped with a TOS violation so I hope you have a good life.

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Rev I've been following this thread and you've always been professional , helpful and courtesy to all over the years.

Some folk you can't change there thinking.

Ask Noah about the ark he built because he knew the flood was coming 

Don't do it Rev walk away 

[Anonymous]

The real problem is the sample selection here i believe. My room mate was at 78x when he refinanced. 2 ccs 1 mortgage loan, 1 auto. But he cares very little to have more cards. People come here for 2 basic reasons. To find cards or because they need to rebuild. In both cases most of them go for more cards before they could hit 780 with the 2 cards. The nixons of the world get more cards to get more money (in cash back, signups or alternative rewards) and the rebuilders add more prime cards as they can qualify. Toss in the fact we are still in a time period where a serious recession caused many people to have troubled credit and the samples get even smaller. Find some everyday joes who pay their bills, have just a couple cards, no inquiries and you 2ould find some with 780s and just a couple cards. 

Unfortunately not many of those folks lurk around these parts. I could go hunting bears in New York city, and when I never found one could say there is no evidence bears exist. 

[StartingOver10]

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@Anonymous wrote:

The real problem is the sample selection here i believe. My room mate was at 78x when he refinanced. 2 ccs 1 mortgage loan, 1 auto. But he cares very little to have more cards. People come here for 2 basic reasons. To find cards or because they need to rebuild. In both cases most of them go for more cards before they could hit 780 with the 2 cards. The nixons of the world get more cards to get more money (in cash back, signups or alternative rewards) and the rebuilders add more prime cards as they can qualify. Toss in the fact we are still in a time period where a serious recession caused many people to have troubled credit and the samples get even smaller. Find some everyday joes who pay their bills, have just a couple cards, no inquiries and you 2ould find some with 780s and just a couple cards. 

Unfortunately not many of those folks lurk around these parts. I could go hunting bears in New York city, and when I never found one could say there is no evidence bears exist. 

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^^^This.  Most everyday joes aren't here lurking on cc forums. They are out living their lives - working, etc. You are fishing in a pool of outliers

[Anonymous]

And just for giggles, proof that store cards are bad...

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Some-interesting-things-about-the-new-Mul...

while his score is absolutely ELITE, one of the few actionable things is his 29 freaking year old MACY's card. Most of us will never see that actionable detail as we have larger issues So, there is proof that store cards can be bad.

[takeshi74]

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@Anonymous wrote:

It looks like you are getting ALOT of new cards and your score is improving way faster than people with just "2-3 cards for optimum scoring".

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You're misquoting.  It's "at least 2-3 cards for scoring purposes".  2-3 is not optimal just as 30% is not optimal.

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@Anonymous wrote:

Lol, millions of threads and not even 1 single piece of proof.

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You always need to consider your sources.  Relying on forum posts for statistical analysis on any topic is dangerous ground to tread on -- especially if you cannot account for how forums skew data.