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  • Number of accounts opened: 7
  • Inquiries: 2
  • Total revolving balances: $0 ~ $99
  • Total available credit: $83,900

I haven’t checked these scores in awhile, but I received my new WaMu (previously Providian) credit card today, so I decided to login and check. The scores rebounded to quite a degree once some minor balance transfers were paid off. Notice that my total revolving balance (when this score was acquired) is a low $0 ~ $99.

You may also notice the ridiculously large amount of total available credit I now have (the total credit lines I have available from the 7 accounts). Although I’m sure there are many more people with larger credit lines on their credit cards, for someone my age without any stable income, it’s pretty ridiculous how much credit these banks will extend to me due to my “good” credit. Take note: it isn’t difficult to establish certain level of credit once you’ve managed and utilize your credit sensibly. If I can do it, anyone can.

For those that have never read these FICO score tracking post, the scores are scores provided by Providian credit cards (now Washington Mutual). These scores are computed at an unknown time, but base on what I know, the scores are most likely a month behind. Remember that your credit score changes daily depending on what your account balance carries, thus the scores I have above are most likely already outdated.

As a free service, these scores are pretty neat, and although they aren’t the latest updated scores, they are genuine FICO scores as Providian claims, thus they are much more useful than some random scores you pull from X Company. If you check back some of the previous updates (#3), you’ll see that my score was a low 612 during November of ’05 — quite a contrast to this update’s 804!

Don’t forget: a score above 800 may seem impressive, but a high FICO score is hardly the only factor lenders consider when extending credit. If I walk into a bank today and apply for a mortgage, upon seeing my income level, the loan officer will most likely laugh in my face as he hands me the basket of free candy, rub my head, and tell me: “Maybe when you expand your lemonade stand, kid.”

FICO Score Tracking Series:

  1. More Debt = Lower Score
  2. Who Cares About Credit Score?
  3. Lowest Score Ever
  4. Little Changes
  5. Nothing New, Yet
  6. Back Above 700!
  7. Breaking the 800 Mark
  8. What the Deuce?