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re: How Long Will My Credit Suffer?? - Update pg 2 - Score Lowered Again!!!
Posted on 6/10/13 at 12:46 pm to LETSGEAUX2
Posted on 6/10/13 at 12:46 pm to LETSGEAUX2
quote:
Yeah, but this card was closed by Chase on me before I even noticed the balance, well over a year ago. It's odd that my score is still declining, no?
OK, so that's not it. It has to be something else that happened on your credit to cause such a large drop.
quote:
Yes, it says it will go from 661 to 671-701. That's a big range. How long will this take?
It should take a month max. After you open the card you'll have to wait for the new trade line to get reported.
quote:
would you go the route of 2 small loans from a CU or a credit card used strictly for gas?
I wouldn't do the two small loans. You already have an installment loan in the car note, so the mortgage, car note and a new CC will be a good enough mix.
You also don't want to hammer your credit reports with several inquiries in a short timeframe.
2
Posted on 6/10/13 at 12:53 pm to ZereauxSum
quote:
It has to be something else that happened on your credit to cause such a large drop.
This is what I don't understand. Here's what it states:
quote:
Your FICO® score has dropped from 678 to 661 Your TransUnion score has dropped from 678 on 3/11/2013 to 661 on 6/9/2013 . Some of the reason for this change:
quote:
•You no longer have a positive factor helping your score: "You've missed relatively few payments to your creditors."
quote:
•You have a new negative factor hurting your score: "There is no recent activity on your revolving accounts."
So basically the good things I've done don't matter any more and I need more revolving payments?
Posted on 6/10/13 at 1:54 pm to ZereauxSum
quote:
You also don't want to hammer your credit reports with several inquiries in a short timeframe.
Yeah, it is 3 to 4 points per hard inquiry, once past the floor (which is like 3 or 4).
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