Hello. Just wondering about the CR by Scorewatch, The Equifax one says that I have good payment history, etc while it says the amount of new credit that I've recently obtained or applied for is not good. What does this mean, exactly..? Does it mean that I need to obtain/apply for more new credit or does it mean that I've gone overboard and app'd too much and recently received too much?
Sorry for the dumb question
That means you have displeased the FICO gods by adding new credit-
The higher the FICO the more nit picky the reason codes are-
A year a go my "new credit" was "Very Good" , now it is "Not Good" only a dozen new accounts.
hautemama wrote:
Hello. Just wondering about the CR by Scorewatch, The Equifax one says that I have good payment history, etc while it says the amount of new credit that I've recently obtained or applied for is not good. What does this mean, exactly..? Does it mean that I need to obtain/apply for more new credit or does it mean that I've gone overboard and app'd too much and recently received too much?Sorry for the dumb question
Same for me. Went from Very Good to Poor, just because of new accounts and balances. 
Just don't apply for 1 year and FICO will like you again.
Just don't apply for 1 year and FICO will like you again.
Too much new apping or new credit and you reap the FICOnsequences. 
I intend to be (unless there are unforseen events) app free and more of less inq free in 2008 (might be asking for a Junny CLI, might result in a TU hard, I have no TU inqs. Amex CLI will be soft, I am told)
masdeocho wrote:Too much new apping or new credit and you reap the FICOnsequences.
