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Did One Card Mess Up My Score?

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Community Leader
Mega Contributor

Re: Did One Card Mess Up My Score?


@firefox100 wrote:

 

What is AOYA ?


Age of youngest account 

 

 

EX 754 EQ 774 TU 752


Message 21 of 37
Frequent Contributor

Re: Did One Card Mess Up My Score?

 

 

WF american express card. another 2 cards in August of 2018 Td bank Blispay. Will try not open another account until next year. Want to get the new Apple card.

Message 22 of 37
Frequent Contributor

Re: Did One Card Mess Up My Score?

 
Message 23 of 37
Super Contributor

Re: Did One Card Mess Up My Score?


@firefox100 wrote:

 

WF american express card. another 2 cards in August of 2018 Td bank Blispay. Will try not open another account until next year. Want to get the new Apple card.


That's got to be frustrating opening Blispay only having them pull the plug on it 3 months later.

Message 24 of 37
Frequent Contributor

Re: Did One Card Mess Up My Score?

Lets try this again. Thank you did not Know that. Open 2 accounts in December 2018 Uber visa 12K, Wf ameex credit card 7K, 2 more cards in August 2018 Td bank cash visa 14K Blispay visa 2K. Total cl is 130.9K and my fico 9 score is 798 by Wf. I am going to try not to open any more cards until next year want to get the new Apple card and Paypal master card some day. Must stay in the garden.

Message 25 of 37
New Member

Re: Did One Card Mess Up My Score?

First off.....WOW!  I'm amazed and thankful how helpful and generous you folks are with your explanations.  I have learned a tremendous amount so far, and I'm greatly appreciative.

 

I have a lot to absorb, and a few things to look into...like getting a trial acct going at creditscore.com.  Because right now, my only source of seeing my FICO is at my savings/checking/mortgage bank.  I should probably see it from another source.  Someone mentioned Amex providing it to me, but it looks like its a paid service and from googling, folks don't have a high opinion of that service.

 

To answer a few questions from forum members here, my AoYA would be that Amex Corporate card (late 2017).  But as a few have mentioned here, that will not affect my FICO score.  So the next youngest would be that Car lease #2 in Dec2016.  I do not know my AAoA at this time, and I need to get cracking on collecting this specific info.

 

I may hold off temporarily from getting my own CC, because I want to move my HELOC to a different bank within the next month, for interest rate purposes.  I better do that while I am still ~770 FICO, opposed to getting a CC and having that score drop.  I may call Citibank to try to reinstate the CC that closed (whch I had since 1989 with a $22.5k limit...bad mistake), but I doubt they can/will.  That would probably still count as a new acct anyway, and may want to move that HELOC first.

 

Today probably isn't the day for additional leg work, however, being Father's Day and all.  I believe my family may want me doing something else!

 

You guys are great.  Thank you.

Message 26 of 37
Highlighted
New Member

Re: Did One Card Mess Up My Score?

OK, I continue to look today.  Can't put it down.

So, that Citibank CC opened in 1989 and closed in 2012 (due to inactivity) is still on my credit report.  I also had a Sears card open in 2008 and close that same year 2008 (iirc, this was a promo thing to get a washer/dryer cheaper).

 

It is true those CLOSED accounts are presently helping my FICO, but when they fall off my report, that will be a detriment?  Do those closed accounts contribute to my AAoA, which is currently 10 years 1 month?

 

My most recent account is in fact the Car Lease #2 DEC2016.  The Amex Corporate is not on my report.

 

So I guess that car lease #2 ($1245/month, which replaced car lease #1 $760/month) drew me down somehow from the 812 FICO to 770.  I guess?

Message 27 of 37
Established Contributor

Re: Did One Card Mess Up My Score?

Since you weren't actively watching your scores it's futile to try to pin down the 40+ drop over a couple of years.

 

Your closed accounts do report for 10 years post closing.  When they drop off they will drop your score further.  In terms of points it's hard to know but, they will drop some.

 

Get a CC in place now to carry on into the future should something happen to the AU CC you're sharing currently.  Start working on that age of CC's sooner than later to prevent a drastic change if you need to get another lease (APR) or mortgage (APR).  

500K+ TCL / 800+ FCOs
Message 28 of 37
New Member

Re: Did One Card Mess Up My Score?

Thanks for the reply, Obscure-Expert.  I hear ya, regarding trying to figure out the 40 point drop.  My initial thrust to figure it out was because if either of these company related things (Amex card or car lease) were affecting my score by that much, I was going to see if the company had a different solution for those items.  There seemed to be a direct correlation.

 

But, it seems I have those answers, as well as can be determined at this time.

 

In the meantime you guys have taught me more about the whole equation (particularly about assuring I have my own revolving account history), and I appreciate that.

Message 29 of 37
Established Contributor

Re: Did One Card Mess Up My Score?

You're welcome!  Now you have to go through 100+ cards to find the right one for your wallet.  Once you hit that first bonus you'll be hooked and opening a new card every 6 months Smiley Wink

500K+ TCL / 800+ FCOs
Message 30 of 37
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