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Murph5065
Contributor

Score increase

In the last 2 months i have applied and been approved for 9 cards, my discover just reported and it cause my Experian score to jump 11 points how does that happen? Reporting $0 balance with 6k cl On that card alone.

Message 1 of 6
5 REPLIES 5
SouthJamaica
Mega Contributor

Re: Score increase


@Murph5065 wrote:

In the last 2 months i have applied and been approved for 9 cards, my discover just reported and it cause my Experian score to jump 11 points how does that happen? Reporting $0 balance with 6k cl On that card alone.


It doesn't.

 

Something else caused the score to jump.


Total revolving limits 650200 (530700 reporting) FICO 8: EQ 708 TU 714 EX 715

Message 2 of 6
Antredd
Valued Member

Re: Score increase

It could be that your overall utilization went down as a result of having 9 new accounts with presumably 0 balances.

Message 3 of 6
Murph5065
Contributor

Re: Score increase


@SouthJamaica wrote:

@Murph5065 wrote:

In the last 2 months i have applied and been approved for 9 cards, my discover just reported and it cause my Experian score to jump 11 points how does that happen? Reporting $0 balance with 6k cl On that card alone.


It doesn't.

 

Something else caused the score to jump.


I have had balance increases on the cards i use high balance on all and still 2 baddies reporting.

Message 4 of 6
Credit4Growth
Senior Contributor

Re: Score increase

@Murph5065 Honestly, a more indepth and detailed explanation and review of your profile is needed to determine which changing factor caused the increase.
Even then with an understanding of the Scoring Primer, you will have many other changes in the near future with the other 8 accounts populating onto your CRA reports.

I would say attempting to wait and see how these various changes shake out over the next week or two.

At the least, in the long term, adding many account all at once with the intention of keeping them open as long as possible, you could affect your AAoA in such a positive way that years done the line when adding a newer account once in a while will not dramatically drop the AAoA scoring factor thus retaining more FICO points.

All of the being a given, I have no idea what your current average age of accounts is but I would to say...
Congratulations on your many approvals!
Message 5 of 6
Murph5065
Contributor

Re: Score increase


@Credit4Growth wrote:
@Murph5065Honestly, a more indepth and detailed explanation and review of your profile is needed to determine which changing factor caused the increase.
Even then with an understanding of the Scoring Primer, you will have many other changes in the near future with the other 8 accounts populating onto your CRA reports.

I would say attempting to wait and see how these various changes shake out over the next week or two.

At the least, in the long term, adding many account all at once with the intention of keeping them open as long as possible, you could affect your AAoA in such a positive way that years done the line when adding a newer account once in a while will not dramatically drop the AAoA scoring factor thus retaining more FICO points.

All of the being a given, I have no idea what your current average age of accounts is but I would to say...
Congratulations on your many approvals!A197DEF0-D147-4DCA-B68A-8C96E5BA7F27.png

Here is the averages of all 3 from my fico

9B7E9169-A422-4814-871F-B9255C085720.png

 

4F6B6A9D-3E68-4E68-A235-CC2B7FE8C1C7.png

 

58B902ED-89F6-402B-B03D-9392D10F0492.png

 

Message 6 of 6
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