Ladies & Gents-- I've been doing my newbie homework for a while... now I have a question I can't find on the boards. I did the pretty stupid thing of applying for and receiving Amex Blue cash, knowing full well that I would be applying for a mortgage shortly. (I was just so pissed at Cap 1 for tacking on a bogus annual fee.) Now I'm worried that the card will report as "Too new to rate" or something like that. The Myfico simulator drops me 10-20 points for having a new card. How long does that hit last? Two months? Six months? Longer?
it depends on avg age of all accounts. I myself have 4 student loans over 25 years so I have enough age that applying for many cards lately has not hurt me at all. I don't get that code about new accounts and I probably have 8 new accounts in last 3-6 mos.
Re: How long for new Blue to report That never, ever occurred to me. Good for you, shawbee! Well, I certainly don't have as long a credit history. Eq reports 11 years, but TU and Ex linger at 9 years, 10 months.
Re: How long for new Blue to report This has been making me so paranoid, as soon as I got the card, I charged $7.04 (look out!) and the next day paid it online. Ahhh... the rush of obsession/compulsion.
Re: How long for new Blue to report New Amex Blue took 60 days to show up on my reports. They seem to report further behind than other creditors. My last report in Feb for all my Amex accounts shows my statement balance as of December 1.
Re: How long for new Blue to report Funny you should mention that as this is the first month I noticed that AMEX reports the previous month's balance. I significantly paid down my Amex in january, thinking it should show up in february (I'm looking to refinance my mortgage soon). When they updated it, they updated it with december's balance.
Re: Re: How long for new Blue to re What info was given? Did it say "Too new...", or the delicious "Pays as agreed"? Did your scores dip, and if so, by how much and for how long?
Re: Re: How long for new Blue to report? Anyone knows how much new account hurts people with short history and for how long? Thank you!
Re: Re: Re: How long for new Blue to re It reported as "pays as agreed". Scores went down by about 3 points was all on all bureaus between the combination of the added inquiry and the new tradeline.
Re: Re: Re: How long for new Blue t I'm thinking about calling Amex and requesting/begging that they report my account in good standing right off the bat. I have about 45 days before NiceGuy's 60-day estimate of reporting expires. Right now my scores are at their highest. So far, so good. But what if I don't find a house for two months and when the banks pull my reports, that Blue Cash tl is sitting there, all brand-new and derogatory? So, has anyone tried this before--calling the CC and asking for immediate reporting to the CRAs? Thanks to everyone who has taken the time to respond so far.
Re: Re: Re: How long for new Blue t Adding new account definitely decreases your fico score. 4 points for new inquiry + Credit limit ( higher the limit, higher the decrease. I recently opened MBNA Elite credit card account starting with 10k that reduced my score of TU by 14 points.
