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I smell some of my advice in here
As always everything is YMMV and I don't try to state as a fact but more of a plan and observation of trends around here and/or personal experience. Nothing in credit is 100% no matter how much of an SME you think you are. The best we can do is educated guesses when it comes to the parameters set forth before us.
Cause and effect is never certain either. I usually suggest things like with Discover based on the information I have from past performance and assistance from others posting their experience that certain things help more than others. Usually where you would see the 30/60/90 day intervals come into play when trying to time a CLI. 90% of the time a 30 day period is just too short to get a positive response from them. 90 days for some is more optimal than a 60 day spot.
Similarly AMEX 3X and hitting the "limit cap" before they request a 4506 is a best guess for most at $34.5K since this watermark seems to be a popular point in which they ask for the doc. Just because policy seems to be 3X doesn't ever mean you'll get that amount but, there's a good chance if you don't ask for it you're not collecting the full amount available for your particular account.
Of course each lender has specific nuances in how they do business and it's helpful to have an eye for picking up on these things to pass them along to others that may stumble into the puddle. I tend to focus on the posts that I'm more of an SME in when it comes to what lenders are doing. I jump around on the same 3 catagories you mentioned and don't divert into learning, smorgs, mortgage, auto, etc. I have personal experience in loans that are collateralized i.e. auto/home since I've done many of them over the years and can offer some support there as well if I happen to see a thread going sideways.
There's also a ton of info you don't see posted since a good handful of us also just direct message each other on particular subjects and situations. If it's not public there's a good chance the info being passed back and forth is more upfront between people. As to the churning of new members.... it happens for a variety of reasons like forgetting their password to the other extreme where they don't get coddled with the answer they were hoping for. Sometimes it's when a thread goes sideways and diverts totally off base into a spat between other members about silly stuff.
Since it's a forum most of the time just take it as a grain of salt.... eventually those grains add up as you see the results from each person pan out in your own experience.
I am sure such things as approvals, CLI's and such is a multi-step process. All except the final step involves your credit reports and scores. I believe for the final step, there is a dart board or roulette wheel involved. Nothing can convince me otherwise!!
Always do your own homework and never take a follow the herd mentality in anything you do.
That's for everything in life.
+1 spaghetti. Good post. I agree there have been quite a few many posts lately where people have been phrasing it as "A will equal B" instead of YMMV. Some posts on the board would be better posts if they started with "my opinion is....."
No one but the credit card company themselves can tell you that A will equal B - and the reason A doesn't equal B is not always because "something in your profile doesn't add up." I've seen a few people with 780-800 FICO's and clean files lately not get a CLI from Discover or Amex and it's definitely not their profile.
As Irish stated very well yesterday, these CLI's and situations are extremely variable and not always possible nor easy to predict. I wouldn't want to see anyone on our board think that if they do x, it will equal y.
Regardless of how the advice is written here, I have always read it as YMMV. Without anyone knowing the exact algorithms that go into the Fico scoring model, all we have is everyone's opinions, educated guesses and experiences. Nothing in this forum should be taken as an absolute....just a "here's what happened to me".
If someone has misunderstood the intention and left the forum...that's on them. Blame cannot be placed on the good people who take the time to share their experiences in this forum. Most people are doing their best to guide others based on whatever information the "poster" has decided to give, which quite often isn't much.
Just my thoughts and opinion....YMMV.
@Gidgetmom wrote:Regardless of how the advice is written here, I have always read it as YMMV. Without anyone knowing the exact algorithms that go into the Fico scoring model, all we have is everyone's opinions, educated guesses and experiences. Nothing in this forum should be taken as an absolute....just a "here's what happened to me".
If someone has misunderstood the intention and left the forum...that's on them. Blame cannot be placed on the good people who take the time to share their experiences in this forum. Most people are doing their best to guide others based on whatever information the "poster" has decided to give, which quite often isn't much.
Just my thoughts and opinion....YMMV.
True - I think the point several people are trying to make is that the way information is delivered makes a difference as well. No one is an expert.