Case Study: CC Apps Affect on FICO Score
Feb 11, 2007 | 10:03 am
#16
Join Date: May 2000
Location: Naples, Florida
Posts: 7,419
Negociant - Great posting!
I opened and closed CC accounts, however, I did in a time frame of 10 to 12 month (not in 8 weeks, like you). The score went even up! Note: There are now (at least two) scores out there ... I wish our fellow poster Dr.Bond would comment on your topic "CC Apps Affect on FICO Score"
The numerical score ranges from 990 to 501 equaling grade ranges from A to F (higher scores represent a lower likelihood of risk) It looks like VantageScore is now used by all three credit report companies. I don't know what happened with the FICO score!?!
Read here: http://www.vantagescore.com/
I am a little confused and sceptically, but here are our VantageScores:
Mrs. USAFAN: 990
USAFAN: 990
Added: I had plenty of inquiries too!
Last edited by USAFAN; Feb 11, 2007 at 10:06 am Reason: Added: I had plenty of inquiries too!
Feb 11, 2007 | 4:02 pm
#17
Join Date: Nov 2002
Programs: MTD pass holder
Posts: 1,144
This may help a little. I to had lots of inquiries. Almost all CC applications. The excess number of CC applications as well as the short length of time many accounts were open was noted as a negative on the last two reports.
1-5-06: Experian, 780, excellent
7-19-06: Equifax, 794, excellent
11-16-06: Trans Union, 909, 84%, A
I do not know how 84%, A relates to the previous fico scores. I suspect it is not as high given I did plenty of churning in 2006.
1-5-06: Experian, 780, excellent
7-19-06: Equifax, 794, excellent
11-16-06: Trans Union, 909, 84%, A
I do not know how 84%, A relates to the previous fico scores. I suspect it is not as high given I did plenty of churning in 2006.
Feb 11, 2007 | 4:11 pm
#18
Suspended
Join Date: Dec 2005
Location: HY
Programs: AA-EXP (3.3MM), AAirpass, SQ-PPS Solitaire, DL-PM (.777MM), SPG-Plat, HH-D
Posts: 2,307
This may help a little. I to had lots of inquiries. Almost all CC applications. The excess number of CC applications as well as the short length of time many accounts were open was noted as a negative on the last two reports.
1-5-06: Experian, 780, excellent
7-19-06: Equifax, 794, excellent
11-16-06: Trans Union, 909, 84%, A
I do not know how 84%, A relates to the previous fico scores. I suspect it is not as high given I did plenty of churning in 2006.
1-5-06: Experian, 780, excellent
7-19-06: Equifax, 794, excellent
11-16-06: Trans Union, 909, 84%, A
I do not know how 84%, A relates to the previous fico scores. I suspect it is not as high given I did plenty of churning in 2006.
84% most likely means your TU score is higher than 84% of the US pop. which is very good.
I reccomend myfico.com for keeping tabs.