Changing billing address on credit card affect your credit score?

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RidgeRacerJM
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Changing billing address on credit card affect your credit score?

Postby RidgeRacerJM » Wed Nov 13, 2013 6:00 pm

Just curious if it does. I alternate between residences..
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MemberSince99
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Postby MemberSince99 » Wed Nov 13, 2013 7:19 pm

No it has no effect

Sevenfeet
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Postby Sevenfeet » Thu Nov 14, 2013 9:53 am

It's probably illegal to do so.
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Postby whit » Thu Nov 14, 2013 10:03 am

I guess things have changed since I've applied for ccs a few years back, my most recent app with discover I don't recall being asked how long I've been at my current residence and job

it shouldn't negatively impact you but it may be beneficial to show that you have stability much like how creditors look at the length of your lines, how often you open and close cards..

they probably would make exceptions where they normally wouldn't if you show you've been at the same job for ten, twenty years. or if you've lived in the same place for the last decade or two

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Postby takeshi » Thu Nov 14, 2013 10:23 am

Here's what FICO says your score is based on:
http://www.myfico.com/crediteducation/whatsinyourscore.aspx

MemberSince99
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Postby MemberSince99 » Thu Nov 14, 2013 1:32 pm

Sevenfeet wrote:It's probably illegal to do so.


Why would it be illegal? You could have multiple residences as part of your job where you are working at the corporate headquarters in one state some months and at another location in another state other months. There is nothing illegal about that, nor using multiple addresses for mailing as a result.

That's just one example. I thought about that too and thought it was odd at first until I realized there are very legimate reasons a person might want to do that.

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jumbo
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Postby jumbo » Thu Nov 14, 2013 2:18 pm

MemberSince99 wrote:Why would it be illegal?


Haha, I guess Sevenfeet is talking about, it would be illegal to impact your credit score based on the billing address change.
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MemberSince99
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Postby MemberSince99 » Thu Nov 14, 2013 4:04 pm

jumbo wrote:Haha, I guess Sevenfeet is talking about, it would be illegal to impact your credit score based on the billing address change.


Oh I missed that haha Big DOH to me then for that!

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otter
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Postby otter » Thu Nov 14, 2013 4:37 pm

jumbo wrote:Haha, I guess Sevenfeet is talking about, it would be illegal to impact your credit score based on the billing address change.


It's definitely not part of the FICO formula, BUT I doubt it would be illegal if it were part of it. It is certainly considered by many creditors as part of the equation when you apply for credit. Otherwise, they wouldn't ask how long you've lived somewhere when you apply for credit. Above all, creditors value stability. That's why they don't like excessive inquiries or new credit (which could indicate that your financial situation has turned for the worse). It's probably not a huge part of their decision, but given two people with the exact credit report, scores, and income- they would be much more likely to approve the guy who's lived in the same place for 10 years and worked at the same job during that time than someone else who has moved four times in one year.
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Postby GoCreditGo! » Mon Nov 18, 2013 5:43 pm

I was reading along and fully picking up what you were putting down. Glad to see this isn't the case!

MemberSince99 wrote:Oh I missed that haha Big DOH to me then for that!



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