Finally, after 4 months of being an AU on my wife's grandmother's 21 year old CC with $22,600 limit and $250 balance, it showed up on my credit reports today, though there was no score impact as of yet. I imagine the score impact will show up tomorrow. I have a 9 year total credit history, oldest open account, aside from Sallie Mae, is a Cap1 opened in March 2006. Cap1 has limit of $1000, balance has been around $150 for last 3 months. Also have Orchard Bank with $300 limit, no balance, Target with $200 limit, $180 balance (though it's been zero for months before this month and will be no higher than $20 at next update), 10 month old car loan with <$25k left (started at $27k), no collections on TU, 2 paid on EX, and 1 paid on EQ, and a $2k CO for Dell from 12/2005. Have a 30 day late from January, last late payment prior to that was in January 2004. So what do you think? Where will this account take my scores? I'm hoping for 50+ points across the board, but I'll settle for 30. Incidentally, the account shows on all 3 CR's. Couldn't have hit at a better time considering I got my closing date yesterday on my house and will be doing my final credit report once this account hits...
FYI, still no updates. On TC, it shows on all three reports. The FAKO's are unchanged as of 20 minutes ago. I typically wait for TC to update it's FAKO's before paying for all 3 reports and scores from myFICO, or wait for an e-mail alert from myFICO. Unfortunately, still no real news. How long do you think it should take to impact FICO's and FAKO's? Typically, I see it's within a day or two, though the automatic e-mail alerts can take a week or more. This seems to be lagging that for some reason.
Maybe FICO 08 is here and they have found a way to code if it's a spouse or not. If so, there won't be any impact.
Maybe so, but the automatic e-mail alert is at least a week delayed from my experience, which is why I wait for FAKO's to go up before buying FICO scores. I don't feel like paying almost $50 for a copy of what I bought last month...
1) It's only been 5 days, 2 of which were weekend days 2) It very well may have already updated my FICO scores, but since I have to pay each time I pull those, I wait until I KNOW they've gone up. I don't yet KNOW they've increased since I haven't received an e-mail alert from them that could have been due to this and because my FAKO's haven't increased yet. 3) FAKO's, for me at least, have always taken at least a few days between the reports being updated and the scores being updated. Sometimes it's instant, but I've noticed the bigger the impact, the longer the lag time. I disputed and had removed a CO from my EQ report. TC didn't show a score increase until about 5 business days after the CO went missing from my EQ report on TC. We'll see. I'll keep y'all updated...
I'm starting to worry that this won't affect my scores at all and that FICO '08 is here. I have a credit alert from 10/11, a full week ago, adding my wife's grandmother's address to my address history. That was the same day the TL showed up on all 3 CR's from TC. Yet here we are, a week later, and none of my FAKO's have moved and I haven't received any alerts from myFICO about this TL either (though I did receive two other alerts, a +13 and a -3, in the last week). Any ideas? Should I call someone? Should I sit tight for a few more days? Or should I bite the bullet and buy my scores from myFICO and hope the account has hit and the scores have increased?
Buy the scores from FICO; obviously it is killing you to know the effect, so go ahead and find out if the new AU account is there. Maybe FICO '08 is here....and just walked in very quietly.
Well, m guess is that the "new" FICO '08 model will have other changes, that are not publicized. The mortgage crisis has to have some effect on the model. I don't know if they will adjust actual scores, or "default" groupings". FICO is always "tweaking", we just don't know about it.
Well, it appears FICO '08 is here. The account shows up on all 3 reports at myFICO, it increased my oldest account age, increased my average account age, improved my utilization percent, and yet had NO IMPACT on my scores. All scores are up about 10 points from last month, but according to the alerts I've received, it's not because of this new tradeline, but other small factors such as actually showing a balance on my Target card for the first time in a few months (increased EQ FICO by 7). This sucks.
Hey Apex, are you still selling TL's? Are they having any impact? Or are they maybe only having impacts on rapid rescores? I find it strange that you haven't seen any impact from FICO '08, but yet it's plain to see in my scores, unless you're no longer doing this as part of your service...
I recently bought a TL from Apex so it better still be working! I'll let you know how it works out for me.
Did anything "change" in the comments section of your FICO scores regarding the change for the account? For example, did it show up under positive comments that "you have a long history", or "your ratio of debt to available credit is low", etc.? It would appear that if the "AU" account impacted your score, then it would be described in the comments sections as well. We need to hear from some other recent "AU" additions, with a before and after of their FICO scores to get a better handle on this. The other thing to watch....give it a month or so, and see if your score is then impacted. Purchased "AU" accounts are closed after a month (once reported). The new FICO model may be waiting to see if the account stays "open" before giving credit on it, or....perhaps it wants to see if you use it. But, keep us posted...
