@Anonymous wrote:
@Anonymous wrote:Thanks to all of you for your answers.
I have another question. I recently opened a new Wells Fargo LOC for $ 5,000. I belong to score watch and credit watch, ( Equifax). they alerted me to the new account, my question is that Experian listed the Credit limit of $ 5,000, but Equifax listed the credit limit as N/A. Why is that and doesn't that hurt my score since EQ is not showing $ 5,000 more of available credit. Having said that, my EQ score went from 782 to 786 as a result of this alert.
Go figure? Can I call Wells and tell them to call EQ and get them to put the credit limit on the report?
You're balancing a scale with AAoA on one side and UTIL % on the other. Opening a new account has lowered your UTIL leading to a score increase. However it also lowered you AAoA which may have the effect of lowering your maximum attainable score.
That said having FICO's above 760 makes you a FICO High Achiever and you have made it to the FICO promissed land. A FICO score of 800+ is good for bragging rights, but no additional benefits will inure once you surpass 760. Be happy, enjoy your great credit and don't frustrate yourself attempting to micro manage your way to 800+. There's no point and the two factors in getting there are: 1) maintaining perfect credit performance and 2) time! Just make sure you control the one of those two that you can control.
There are CCC accounts which generally approve (statistically) at FICO levels higher than 760.
760 will get you the lowest auto and home mortgage rates. But for revolving and charge accounts, you may find certain issuers actually do like 780 or higher, with certain ages, existing CL's and absence of derogs.
IME 