Just pulled equifax and with 8 inq...it went up from 700 to 707...sears just started reporting and the "too new to rate" made my score come down to 687....anyone know when too new to rate changes? Just thought I'd share some more on the RNG..LOL If I loose 20points per new account...I'll be back in the low 500's...argh...that can't happen can it?! Well, I let you all know as they start reporting...
I just had a "too new to rate" installment loan from my CU for 3500 and my points on EQ went from 580 to 594. Go figure. I wonder if it matters if it's installment as opposed to revolving???
I believe having a installment loan is good since it's factored into your scoring for having a good credit mix. A paid down installment loan will give you a nice boost in your score. I wouldn't expect much of an increase in score just for having a installment balance, but once paid down you should see a nice boost aswell offers flooding your mail.
I lost 8 points for my too new to rate b of a card, however, I made a payment online to my new cap1 card before it reported and the first report on this card came out pays as agreed, gained 5 points back. I think even after one payment you should have pays as agreed.
I just opened a couple of new accounts with FirstUSA and Fleet and both were showing on my credit report, reported as pays as agreed, even before I had received the cards or the first statement!
