CarefulBuilder14 wrote:While those are accurate examples of what is bad advice for most people with decent credit, and those claims certainly circulate on myfico without much thought, they don't sound like something fmc92 actually tried to follow.
If anything, fmc92 (with a secured Discover, some sort of Barclaycard, and maybe 50-100 inquiries in the last 2 years) needs to garden more urgently than 95%+ (or even 99%+?) of the population, so the typical gardening mantra would be appropriate.
I was expecting to hear, if I heard anything, some horrible advice more along the lines of:
If Amex turns you down for a Gold card, apply next month for a Platinum. Then a Green the month after that. App once a month for the Green until you get it. Amex likes to know you're really interested in them, even if you have bad credit. Don't worry about looking desperate.
The FICO formula doesn't penalize you if you app for many cards at once. If you app for three cards in one day from different issuers, it only counts as one inquiry.
FICO doesn't count store cards not using a major payment network when determining your AAoA or number of inquiries.
Nope. I can say without that even over at MyFico on every single thread the guy has made, people have told him that he needs to slow down on the apping a ton. Some even suggested freezing all of his reports so he wouldn't be as tempted to keep shooting himself in the foot. Exact same kind of advice that's been given here and over at CreditBoards so this time it's been a much more universal, consistent thing here.
I don't think MyFico is all that bad. There are good people there with good advice as well if you're willing to sort out the crap and fearmongering that's also there sometimes though I also sometimes get annoyed that there are seriously people that do not contribute much other than to say congrats to others. Seeing as how that site is run by a CRA, I'm starting to see why they're a lot stricter and paranoid on certain things that can be talked about here with no problems, like freezing one credit bureau and having a creditor pull a report from a different bureau or something like that.