Garden Cult Meeting - November 2014

For just about anything you want to get off your chest about credit cards.
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CarefulBuilder14
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Postby CarefulBuilder14 » Mon Nov 03, 2014 8:40 pm

Since gardening in August, my TU FICO (according to Barclaycard and Discover) has yet to improve. TU moved from 731 during the Sallie Mae pull to 720. It's been stuck at 720 for nearly two months.

I know a really great credit score takes time, but I really was hoping for 5 or 10 points by now.

The stone-age part of my brain wants to poke the TU FICO with a stick to see if it's still alive.

With some positive and negative influences, is it normal to have a FICO do nothing for a while? Barclaycard was giving me several updates before it got to 720, so I'm guessing it's TU and not Barclaycard.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when


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PlyrStar93
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Postby PlyrStar93 » Mon Nov 03, 2014 9:38 pm

When I applied for Discover the first statement showed TU FICO from 740 (at time of approval, 05/16) to 729 (05/29). That's most likely because of new account being reported in addition to an inquiry.

Then, I got the Chase Freedom on mid June (inquiry at that time). TU FICO was 735 (06/27). Presumably some time later than that, Freedom got reported and the next FICO was 738 (07/28).

So it's possible for FICO to stay for all kinds of reasons. If you expected an increase but actually it did not, it might be new accounts dragging score down, provided your other factors remained same or better. A new account sometimes needs more time to get reported.

My most recent TU FICO on 10/28/2014 is 751, my highest score I have ever seen (though I believe I had better score before this February, when I only had one account for over a year). Now I only have Citi Forward reporting a ~370 balance while all other accounts are 0.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

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CarefulBuilder14
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Postby CarefulBuilder14 » Mon Nov 03, 2014 10:07 pm

I mostly find it a little odd that (apparently) every time some good or bad thing happens to my credit, there's some counteracting force that keeps my FICO exactly constant. Not down to 719 or up to 721. Just staying at 720.

Did I let one more card report a balance on the statement date? Then perhaps my AAoA is up a little.

Did I have a new account report, lowering my AAoA? Then maybe having 5 accounts in good standing is better than having 4.

Did an inquiry fall off or age enough to not matter? Maybe my utilization on a low-limit card was higher than before.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Nixon
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Postby Nixon » Tue Nov 04, 2014 2:21 am

CarefulBuilder14 wrote:Since gardening in August, my TU FICO (according to Barclaycard and Discover) has yet to improve. TU moved from 731 during the Sallie Mae pull to 720. It's been stuck at 720 for nearly two months.

I know a really great credit score takes time, but I really was hoping for 5 or 10 points by now.

[color="Red"]The stone-age part of my brain wants to poke the TU FICO with a stick to see if it's still alive.[/color]

With some positive and negative influences, is it normal to have a FICO do nothing for a while? Barclaycard was giving me several updates before it got to 720, so I'm guessing it's TU and not Barclaycard.


If you had a Walmart card you could instantly update your FICO.
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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Nov 04, 2014 7:43 am

Nixon wrote:If you had a Walmart card you could instantly update your FICO.


It's a GECRB/Synchrony card with terrible rewards - even at Wal-Mart I'd go with my Discover.

I don't need to worry about fraud risk for a card I'd never use.

I think Barclaycard does update FICO scores whenever they actually do change - or at least not long thereafter. I've also got Discover confirming there's no change in TU.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

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kcm7
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Postby kcm7 » Tue Nov 04, 2014 10:05 am

CarefulBuilder14 wrote:Freedom Turns 1!


If that isn't just the cutest little credit card party EVER!


Still in the garden, but still thinking about going for an AmEx soon.
Cards:

-Capital One Quicksilver
-Barclaycard Arrival (no AF)
- US Bank (no rewards)
-IHG

Nixon
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Postby Nixon » Tue Nov 04, 2014 10:44 am

CarefulBuilder14 wrote:It's a GECRB/Synchrony card with terrible rewards - even at Wal-Mart I'd go with my Discover.

I don't need to worry about fraud risk for a card I'd never use.

I think Barclaycard does update FICO scores whenever they actually do change - or at least not long thereafter. I've also got Discover confirming there's no change in TU.


True I suppose, The only real benefit to the Wal-Mart card is the possible promo terms.
Barclaycard in the Wife's experience updates monthly on average like Discover does with the VERY occasional update where they email you (3 in 5 1/2 months)
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Vattené
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Postby Vattené » Tue Nov 04, 2014 2:38 pm

CarefulBuilder14 wrote:It's a GECRB/Synchrony card with terrible rewards - even at Wal-Mart I'd go with my Discover.


I do the same even with a Walmart card in wallet. With a Freedom, it, and BCE as a fallback I know this won't interest you, but the Walmart card gets you at least 5¢ off a gallon at Walmart gas stations. Sometimes they offer a bigger discount for a stretch of time - this past summer it was 15¢ off a gallon, I imagine to help it compete with the gas quarter for Freedom and it.

Like I said I realize you have better options, but this is why I originally got it. Before I got into Prime Land and was using a debit card for everything (even regular Walmart purchases) this card was used exclusively for gas. It is a good option for people whose credit isn't good enough for a major rewards card. I still use it as a gas card when I can't get better than 1%. Between converting the Discover to chrome and that sweet, sweet third quarter the Walmart card finally got some action.

*****


I was stuck at 748 for a three month stretch from May to July and I have been at 756 the last two consecutive months. Like you I would expect to see some movement with so many factors going into the calculation that are always changing, even just a couple points up or down.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

Nixon
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Postby Nixon » Tue Nov 04, 2014 2:43 pm

Vattené wrote:I do the same even with a Walmart card in wallet. With a Freedom, it, and BCE as a fallback I know this won't interest you, but the Walmart card gets you at least 5¢ off a gallon at Walmart gas stations. Sometimes they offer a bigger discount for a stretch of time - this past summer it was 15¢ off a gallon, I imagine to help it compete with the gas quarter for Freedom and it.

Like I said I realize you have better options, but this is why I originally got it. Before I got into Prime Land and was using a debit card for everything (even regular Walmart purchases) this card was used exclusively for gas. It is a good option for people whose credit isn't good enough for a major rewards card. I still use it as a gas card when I can't get better than 1%. Between converting the Discover to chrome and that sweet, sweet third quarter the Walmart card finally got some action.

*****


I was stuck at 748 for a three month stretch from May to July and I have been at 756 the last two consecutive months. Like you I would expect to see some movement with so many factors going into the calculation that are always changing, even just a couple points up or down.


We mostly use the WM card for CB at POS. :p
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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Nov 04, 2014 7:21 pm

kcm7 wrote:If that isn't just the cutest little credit card party EVER!


Still in the garden, but still thinking about going for an AmEx soon.


Thanks!

Slicing a piece of chocolate into fifths was proving difficult, so I just cut it into sixths and ate one - before I ate the other five. It does have a bit of a 'cake' look to it, though.

In retrospect, I could have invited my Chase debit card to the party for the sixth slice.

I've liked my experience with Amex, and getting 2014 backdating would be good. I can't suggest a specific Amex without knowing about your spending and other cards, though.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when



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