MyFICO EQ Score - New Credit - bad to good

[Anonymous]

If the Discover is 18+ years as your oldest, how old is #2?

What I am not thrilled with is that I was perfect for 20 years, had one investment property I could not afford due to the market (i.e. I could not flip it in time), defaulted on it and was going that way with 2 other properties, so forced to bk.   Since the bk filing, perfect payments.

So I pay the price for 10 years and are considered a far higher risk than I actually am..............But I am on the comeback trail.....hope to be at 700 by July 09.

[smallfry]

Boscoe my scores are all comfortably over 700 with an 8 year old BK7 and a 5+ year old paid state tax lien. You can get there sooner than you think. Keep the new accounts down and the utilization under 5%.

[Anonymous]

Yeah, from what I hear I will be in good shape once my bk hits 2 years.   Later this month, I will apply for my last cc for quite awhile, and util is always below 10% and shooting for 5%.............

Thanks.

[haulingthescoreup]

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@Anonymous wrote:

If the Discover is 18+ years as your oldest, how old is #2?

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The second oldest is 12 years old, and it's closed, so when it falls off, along with some others from this era, my credit history will look like a doughnut: an old open Discover card, then a whole bunch of nothing, and then the current stuff that is open and that I'm holding on to for dear life.

[Anonymous]

Which means that you will likely take a dip when that fateful day comes where FICO 08 is in effect......although your EQ score will stay up there, as I doubt we will see them implement FICO 08 much before 2010 if even then.........

[haulingthescoreup]

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@Anonymous wrote:

Which means that you will likely take a dip when that fateful day comes where FICO 08 is in effect......although your EQ score will stay up there, as I doubt we will see them implement FICO 08 much before 2010 if even then.........

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Yes, I suppose I ought to go ahead and switch to joint now, but I'm curious to see what bucket I would wind up in without the Discover, and what would happen to my scores. I have a really old closed gas card on EX only that will be there for a few more years, so presumably EX would not change, while EQ and TU would. (Then I'll go ahead and switch.)

Figured I'd take a bullet for the forums team!

In fact, I'm ready for the whole stupid thing to get going. I put DH as an AU on the PenFed gas card and AmEx Gold card, and so these will affect his scores. People don't think about this, but AU cards, even squeaky clean, can hurt credit as well as help!

[Anonymous]

True, True, but I don't think you have anything to worry with EQ, at least not before 2010.....they ain't going FICO 08 before then....you heard it here first!!!

One other question - who pulled your 7 CR's for the 7 new cards you have?  I bet EX pulled 5 and EQ pulled the other 2.  No one other than Juniper and maybe discover pull just TU anymore it seems........

If that is true, then you definitely have nothing to worry about.  Your old EX card will cover EX, and EQ won't be using FICO 08 for awhile...

[MidnightVoice]

Boscoe wrote:

One other question - who pulled your 7 CR's for the 7 new cards you have?  I bet EX pulled 5 and EQ pulled the other 2.  No one other than Juniper and maybe discover pull just TU anymore it seems........

Chase apparently pulls TU sometimes

[haulingthescoreup]

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@Anonymous wrote:

One other question - who pulled your 7 CR's for the 7 new cards you have?  I bet EX pulled 5 and EQ pulled the other 2.  No one other than Juniper and maybe discover pull just TU anymore it seems

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EX: American Express, Bank of America

TU: yup, Barclays/Juniper

EQ: PenFed (membership, CC and car loan=1 inq), Chase, Citi (Home Depot)

I was expecting TU for Chase, and I think EX for Citi. Go figure. And EQ was my worst score at the time. I really lucked out, since EX is so hyper-sensitive to inqs.

What's strange about EQ is that even though it has listed all three inqs since the milisecond that they hit, for a month I was praised on screen two for having only one inq within the last year. Now it says I only have two (same screen), while all three are still shining away on the inqs page. I'm sort of waiting for the other (other) shoe to drop.

[Anonymous]

Hauling, what kind of Barclays/Juni card did you get?   I got a pre-approval for the US Airways Master card with them.     What did you get and why that particular one?