I had 3 new accounts report and took a pretty huge hit Now from what I can see since they are "too new to rate", I am thinking the limits aren't factored in, but the new accounts factor takes a hit. So hopefully once they are rated the 10K in additional credit will be factored in?? Any thoughts?
I haven't been keeping track of my score, but after opening up 4 accounts in about 3 months, I stopped getting a bunch of "Pre-Approved" offers in the mail. These were accounts that were reporting the credit limits and "pays on time." Hope this helps.
Ya I got some bad news today too. All my reports were gettig so close to getting out the 500 club and whamo Equifax drop down to 527!!!! wwaahh i need to compare to see what changed. Not looking forward to it. MistyEyed
Do away with Fico and folks won't have to put up with the concerns expressed in this thread !!!!!!!!!!!!!!!!!!!!
dont feel bad i lost 37 points when my new car loan hit i give up for a while no more inq's and let accounts age for a year and i should have it back...
Well thanks for the insight all. I have had new accounts hit before and never took a big hit, but this was 3 accounts so I will just sit back and let them age and bounce back. lbrown I realize your hatred of FICO which is certainly understandable, but quite framkly if you don't have any information pertaining the the actual question....... Sorry don't mean to come across harsh, but constantly posting FICO this and FICO that doesn't help answer most people questions. Unforunately we can't change the scoring system so we have to work with what he have.
F.I.C.O. SCORING SYSTEM IS ILLOGICAL, BECAUSE I LOST POINTS BY PAYING OFF $30,000+ IN ONE MONTH (NO IT WASN'T A BT)... Total balance owed goes down every month...no new accounts, no new inquires, F.I.C.O. SHOULD GO UP...didn't...went down.
