Saw my FICO score/disapointed-

Discussion in 'Credit Talk' started by Jim, Feb 15, 2001.

  1. Jim

    Jim Well-Known Member

    Just an update on the continuing saga of how my FICO score dropped from 641 to 574 over eight months while I opened new credit and always paid my bills on time.

    As you will recall, I saw my FICO score at the credit union on Monday when I applied for credit. What I didn't realize was that last week my Nordstrom application was approved. I received a $2,000 limit. The card arrived in the mail yesterday one week after I telephoned in the application.

    If anyone wants to read the threads on the FICO score issue or the separate Nordstrom application; just use the search feature here. Use "574" for the FICO thread. Use Nordstrom for the Nordstrom application. Please don't think I am boasting or anything here. I just think the fact that I was able to see the FICO score at 2 points in time is unusual along with the effects of applying for credit on the score.

  2. Dustin

    Dustin Well-Known Member

    RE: Saw my FICO score/disapoin

    That is cool. I don't see what applying for credit would make it drop so much, though. Damn FICO is all confusing. The more I try to understand it, the less I do!

    BTW: I don't think it is boasting. I love to hear other peoples success in repairing/re-establishing credit! It makes me have good stuff to look forward to, and gives me some goals so I don't get too discouraged!!

  3. Donna

    Donna Well-Known Member

    Congratulations! Jim!

    Nordstroms! Here you come!

    Great going, Jim. You've worked hard and I'm glad Nordstroms has rewarded your efforts.

    Sorry about the drop in your score, though. But, just hang in there and it will shoot back up in a few months.

    Lately, I've opened up several new accounts and I'd bet my scores have dropped, too. That's why I'm on the no-more-credit wagon! Occasionally, maybe I'll try to get an increase from an existing creditor, but that's it.

    Please! Bang me over the head if you hear me talking about getting another card!

  4. Jim

    Jim Well-Known Member

    Thanks Dustin

    My Bk was discharged 2 years ago this month. Nordstrom was unusual as they were so professional when I called and the rep. told me the BK policy over the phone before I applied.

    As to FICO, there is mounting evidence that too new of credit, too many accounts, too many inquiries, and too much debt against the available limits can really sink your score. But FICO remains a mystery.
  5. Jim

    Jim Well-Known Member

    Thanks Donna.

    I feel the same way you do. I am going to apply for a credit limit increase in March on my Capital One gold card. I hope to go to a $4,000 limit from $3,000. Right now I have $2900+ charged on it - to be paid off in 2 weeks.

    After that I want to get my Providian gold card apr. lowered.

    I am on the wagon too. No more credit applications for a year.
  6. Donna

    Donna Well-Known Member

    RESimilar Cap One Gold

    The limit on my Cap One gold is also $3,000. The account was opened in September with a $500 limit. "If this is gold, who needs it!" I thought.

    Then, three months later, with no prompting, my limit jumped up to $3000. And you know how Cap one is - That's sooo unlike them.

    Now I'm at my six-month period and was just denied an increase yesterday. Why? Because they're just plain stingy, I guess. My payment history with them is perfect.

    Anyway, I'll wait three more months and give them another jingle. In the interim, though, if I should be lucky enough to receive approval for the Universal card, my Cap One gold account will be history!

    Good luck and let me know what happens when you call Cap One in March.

  7. Momof3

    Momof3 Well-Known Member

    RE: Saw my FICO score/disapoin

    Congrats on the Nordstrom, now no more card yah hear LOL:) I am happy you got the card and now just sit back and wait for time to help you, and also your remaining disputes that Junum is working on of course:)

  8. sam

    sam Well-Known Member

    RE: nordstroms!! ack

    Congrats, i wouldn't want one, dont tell my gf she always goes to their HUGE shoes department :) id be screwed :)
  9. Momof3

    Momof3 Well-Known Member

    Hey you know

    A girl can never have enough shoes:)

  10. Donna

    Donna Well-Known Member

    REThat's right!

    It's impossible to have too many shoes!

    Jim, can Mom and I try out your new card? :) :) :)


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