Ding points recovered and Fico increased

[bettercreditguy1]

Scores            TU           EQ

1/01/2012            735          707

5/27/2012            733          735

6/21/2012            757          751

All scores from My Fico

I have recovered all of the Ding Points from a new auto loan 3 months ago

I applied on line for an airlines reward card and was approved 6/2012

Last late payment was 3 years and 3 months ago

AAOA is 9 years

Longest opened cc is 26 years

All accounts paid as agreed

All cc cards PIF every month

Utilization is 6%

[Anonymous]

Very nice, congrats!

Did you only have 1 inq on your report, or multiple inqs?  If it's only 1 inq, that is a nice amount of points gained back.

[bettercreditguy1]

Tu = 3 EQ = 4 in the last year

[Anonymous]

So how much did your last inquiry drop you in the first place? 

[bettercreditguy1]

The auto loan reduced my Tu Fico 22 points for almost 90 days.

[Anonymous]

You know I was asking because I was trying to get a feel for the ding I was about to get after joining PenFed, my gosh I though for sure since I had just hit the 800 club my score was going to drop, but quite the opposite just happened.  I received myFico alert which I expected and when I logged on my score went up??  803, don't get me wrong I'm more than extatic but totally not prepared.  It said  applying for new credit sometimes increases your score?  haha wow!!!

[marty56]

IMHO an INQ alone would never increase your FICO score.  Something else must have happened.

[bettercreditguy1]

The car loan was 90 days old with all payments made on time  and one credit card inquiry from 2011 falling off. TU fico was 755 before car loan reported, untilzation < 5%, no other new credit or  inquiries, it dropped to 733.  I did have one new cc which had its first bday this month, now 3 yrs 3 mos. since last late (only remaining negative on my account), and all accounts showing paid as agreed. Remaining TU inquiries (3) fall off December of this year.

[bettercreditguy1]

Yes, I know it is true. The ymmv thing really applies. With the Fico model, the more responsible you are with credit, the more it POSITIVELY REWARDS YOU!. Although I hit a very rough patch, occured the late payments and the emotion distress and dejected pride, I paid everything in full. I NEVER did PFD or tried to settle for less. The monies owed were for services or credit extended, and they each one deserved full compensation. Along the way, it has really sped up my ability to get new credit at excellent rates. Yes those paid accounts are aging nicely on my report. I am not ashamed as it was a point in my life. My new car loan is 1.99% and my credit card is under 10% apr. Many here in the forum do not seem to understand. I will be in the 800 club soon. My current goal of 760 is easily in reach and I am about six months ahead of where I thought I would be at this time. Pay in full, Pay on Time, and Patience are the virtues of a Great Fico Score. Have a beautiful day!

[Anonymous]

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@marty56 wrote:

IMHO an INQ alone would never increase your FICO score.  Something else must have happened.

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I think I had 4 inquiries in the past year and one fell off this month maybe that was it??  Possibly!!!