What in gods name is going on? I am scared here.

[Anonymous]

Long story short, My TU FAKO was 712 after I opened a new account with BofA($5k limit). I transferred $3.5k to the card and my TU FAKO today is 637! Yes, the old card now reports a 0 balance.

Nothing else has changed, no new accounts, no new inquiries, no lates. Any help? I almost feel like TU is committing fraud after I cancelled True Credit. I am going to order a TU fico now from MyFico. I am going to buy FICO Complete in a few days and see what that looks like.

ARGH!

EDIT: I just bought a TU fico and don't dare to click view product .

Message Edited by wcnghj on 12-20-2008 07:07 PM

[Anonymous]

This just goes to show how sucky FAKO's really are. Now to get those accounts with balances down.

 

        I currently have 6:

• Mortgage
• 2nd Mortgage
• 2 CC's
• Line of Credit

• Car

Would paying off the LoC with a BT check help at all?

[laz98]

that's why people don't recommend getting worked up over them! 

[marty56]

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@Anonymous wrote:
Would paying off the LoC with a BT check help at all?

---

LOC is usually scored as revolving so it wont help your scores.  These days I would not do a BT because the CC your are BT'ing to could do a CLD or some other AA.

Pay balances down is the only way to improve your scores.

[haulingthescoreup]

Sorry that you had such a scare, but I have to say, this was fun to read. I'll need to save this one to link to posts by newbies determined to believe that FAKO's have value.

As marty said, all that's left now is to focus on paying down balances. btw, I had a BT on a new BofA card with a $10K limit. It started out at 84% ($8K BT plus 3% fee). I quickly paid it down to 74%, but it still freaked me out, so I called them after about 2 months and asked for a CLI due to the impact this was having on my EX score. I had to escalate to a credit analyst, but they took me up to $15K.

The economy has changed a bunch since last spring, but your scores are way better than mine were at the time, so you might think about trying for a CLI in six weeks or so yourself.

Thanks for posting this, and I'm glad it all worked out so well!

[Anonymous]

---

@haulingthescoreup wrote:
Sorry that you had such a scare, but I have to say, this was fun to read. I'll need to save this one to link to posts by newbies determined to believe that FAKO's have value.

As marty said, all that's left now is to focus on paying down balances. btw, I had a BT on a new BofA card with a $10K limit. It started out at 84% ($8K BT plus 3% fee). I quickly paid it down to 74%, but it still freaked me out, so I called them after about 2 months and asked for a CLI due to the impact this was having on my EX score. I had to escalate to a credit analyst, but they took me up to $15K.

The economy has changed a bunch since last spring, but your scores are way better than mine were at the time, so you might think about trying for a CLI in six weeks or so yourself.

Thanks for posting this, and I'm glad it all worked out so well!

---

It's only a $500 line, so it counts as revolving. I knew before this FAKO's meant little, but figured a 65 point jump might effect my fico by more than 3 points.

The Credit Union I have that line with is charging me 15% interest, and a $3/month 'fee' to have a savings account. The problem is this line is my 2nd oldest account opened in 1995. My other CU has a BT check in each statement, and they have 4.9% for a year then 6.9 no bt fee.

If I pay it off and close the account, would it count in my AAoA for 10 years?

[haulingthescoreup]

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wcnghj wrote:

If I pay it off and close the account, would it count in my AAoA for 10 years?

---

Yes, it should. I say "should" because things have been known to fall off earlier, especially on EQ which is a bit unstable in this area, but otherwise 10 years.

My EX full reports include a status report on closed accounts that say something like "this account is scheduled to report until March 2013", or some such, and it's always exactly 10 years after closing.


edit: whoops, I mis-typed: it's EX, not EQ, that has the will-report-for-ten-years message.

Message Edited by haulingthescoreup on 12-21-2008 06:19 AM

[smallfry]

---

@haulingthescoreup wrote:
Sorry that you had such a scare, but I have to say, this was fun to read. I'll need to save this one to link to posts by newbies determined to believe that FAKO's have value.

As marty said, all that's left now is to focus on paying down balances. btw, I had a BT on a new BofA card with a $10K limit. It started out at 84% ($8K BT plus 3% fee). I quickly paid it down to 74%, but it still freaked me out, so I called them after about 2 months and asked for a CLI due to the impact this was having on my EX score. I had to escalate to a credit analyst, but they took me up to $15K.

The economy has changed a bunch since last spring, but your scores are way better than mine were at the time, so you might think about trying for a CLI in six weeks or so yourself.

Thanks for posting this, and I'm glad it all worked out so well!

---

I got BofA to bump me from 2500-5000 last week so I agree with OP's scores he shouldn't have a problem getting a CLI even in these times.

[Anonymous]

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@smallfry wrote:

I got BofA to bump me from 2500-5000 last week so I agree with OP's scores he shouldn't have a problem getting a CLI even in these times.

---

Chase just denied me, I requested 4k more to 10k. BofA was opened 2 months ago and I got a 1k CLI on activation to 5k. I requested another and they said my I had enought credit for my household income($38k).

I have had the Chase account since '05 and will be sending them a nice letter.

---

@I wrote:

Dear Chase,
On 12/20/2008 I requested a credit limit increase to $10,000. I requested this for two main reasons. Reason one being my family was invited to the Presidential Inauguration and the other being my income increased $6500 to $38,000.

Please consider my high TransUnion FICO score(781 when you checked it on 12/20/08) and my perfect payment record. I have never missed a payment in my life on any credit account. Even if you can only approve me for $8000, that would be wonderful.

NAME

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Message Edited by wcnghj on 12-21-2008 08:45 AM

[smallfry]

38K HHI? Yeah I would not push it.