FICO Score Tracking #4 – Little ChangesPosted by Cap on April 10, 2006 |
- Number of accounts opened: 7
- Inquiries: 3
- Total revolving balances: $11,000
- Total available credit: $50,000
Nothing new really. Scores are staying consistent, as I steadily pay off my 0% balance transfer loans. I have only about $11,000 in the loan left, sitting in my ING Direct account earning 4.75% (till April 17). The 0% rate will end around July.
Quick explanation if you don’t want to track back (because it’s a mess to read). The score started to slide around June of 2005 as I started to take on more 0% credit card loans. The all-time low could be seen during November, when I maxed out about three of my credit cards for these loans. The sharp increase during December and January is because I paid off one of them, a $7,800 balance transfer loan.
In about 4-5 months, you will see another sharp increase, bringing my FICO score back to around the 750 ranges as all my 0% balance transfer loans are paid off. When that happens, it’ll be time for more 0% balance transfers!
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