Credit Karma updates every 7 days.
You do realize that there’s really no such thing as an “old” score. Your credit score is calculated from the information on your credit report at the moment your report is pulled to get a score. Unless the place you requested your score from happened to have a 2 month old copy of your credit report already on hand (pulled 2 months ago), it’s impossible for them to produce a 2 month old credit score.
What you saw as “old” scores are more likely what’s commonly known as a FAKO score - alternate scoring formulas intended to mimic the FICO formula without paying the royalty fees, and thus are far from exact. Also, different credit reports will produce different scores, due to different information.
If you don’t care, you’d probably thaw all three. But if you want to be strategic and try to “redistribute” inquiries, DoC to the rescue. Allegedly some people had success with making Chase pull a different report than they normally do (and what they normally pull may be inferred from the credit pulls database… it’s always EX for me). And CapOne usually pulls all 3, but some have had success with either TU or EX frozen.
Most often the scores provided me by my many FIs are dated. The dates vary, depending on the institution, over a very wide range. And too often the dates on the scores they offer me are quite a while back from the day I’m making the inquiry.
If Credit Karma is updating every seven days, that is decent service. Credit scores dated last month, or even two months ago, are of no value to me whatsoever. Why even bother.
I probably need to add that I understand, for some folks, their credit score is (more or less or at least relatively) time invariant. And for those folks an old credit score might still have some relevance to their lives. That’s not me. But I acknowledge need for a current score does not apply to everyone.
A credit score “dated” (whatever that means, the score is based on whatever date the credit report was pulled) today is also of no value to you. You arent making lending decisions, knowing your own score serves little purpose beyond satisfying your curiosity.
I’m a very curious chap. My curiosity is one of several attributes that has supported my success through life. Knowing my score is important to me. If you have a different level of curiosity I respect your view. But I ask from you in return some consideration for my take on this, even though you do not share it. We are not all the same. .
Hey, I’m all for curiosity. Curiosity is often what results in us stumbling into our lucrative shenanigans. Just don’t oversell it as being important or particularly valuable to know. At most it provides positive reinforcement for the choices you’ve already made.
If we are talking about checking the FICO or Vantage score obsessively to watch it vary from 796 to 812 to 805 to 809, yeah, that’s fretting over something that doesn’t matter.
As someone who plays the credit card reward game, I do find it useful as a tool (beyond curiosity) to be able to see such details as hard pulls, whether or not a recent account has shown up, etc. to decide whether or not to proceed to applying for a card that data points show is sensitive to these metrics. A really bad day in the rewards card game is to apply and be denied for a card because I didn’t know that a new hard pull had shown up unexpectedly. It’s doubly bad because: 1) I didn’t get the card, and 2) I’ve added a hard pull for nothing.
I assume from previous posts that Shinobi watches credit utilization like a hawk. Maybe curiousity, maybe needed for his hobby … don’t know.
I applied for a Chase Ink Preferred (for the 80,000 points) on Wednesday and nothing has shown up in my online account (I have a Chase Ink card from a long time ago that I still use regularly - same social security number but different business name). When I call to check the status of my application, the automated recording says it is under review and I will get a letter in 7 to 10 business days. How quick do folks usually hear back if they were approved for a chase business card? I was honest in my application and put my real business revenue of only $7,500/year, so my guess is that they might not think I’m worth it.
Last year for a relative it took between 3-7 days on the ink preferred.
It’s been 3 years since I added one myself (Ink Plus), and I had a business/identity verification because I had recently moved and forgot to update address on one of my Chase cards, so I had to go in to a branch.
Revenue data point: My last one was $1K and Chase assigned a limit higher than any of my other Chase cards, almost $20k.
Awesome, there’s still hope! Thanks for the data point.
Appreciate the post. Yes, for me unconventional spending is more a hobby than anything else. That was a good way for you to put it.
And I’m fascinated by all aspects of my hobby. For example I recently, knowingly, intentionally and with forethought, committed a massive violation of Argyll’s rule. It was a “testing the system” sort of thing. The outcome?
My credit score hit its lowest level in recorded history. I suffered an over 100 point credit score haircut. Mind you, violation of Argyll’s rule does not involve late payments. It does not imply need to pay interest. I did “nothing wrong”, and obviously I paid the money I owed shortly after conducting the experiment, never paying a dime of interest.
My takeaway is that the idiots running the credit score game clearly had doubts about my ability to pay the money I owed . . . . unless I paid those debts essentially in advance!! WABOA
Anyway, when I paid the money my score recovered sharply. Bottom line lesson is they surely become nervous when your utilization jumps up significantly.
I did CIP and CIC in the last few months. I think each took around 7 business days. Pretty sure I put my revenue lower than yours and was approved for both. Oddly (?), I also got a credit limit increase on the first card after a few months. (This was wonderful because I was still in the 0% purch APR window).
Happy hunting! I love chase UR points…
With some new centurion lounges announced for next year… I want to verify I’m not missing anything about the Platinum, it still seems like a (relatively) expensive card.
$550 AF. But the only “credits” are $200 airline, up to $200 Uber (spread monthly) and maybe a “$100” Saks5thAvenue?
So the net annual fee I am calculating at around $230. (Valuing airline and Uber 15% and 25% discount and $0 for saks).
Seems still impossible for me to justify the steep AF for only the centurion lounges.
*Yes, I’m also valuing the low hotel statuses, GE, and priority pass at zero because negative AF cards already cover. I also would see very low value to the 5 ppd categories because I have >$10k accumulated in rewards accounts that I can use for various travel.
The uber credits can be used on uber eats if you don’t use uber.
The airline credits can be used on ticket purchases. FT has more details about how to do that.
Another option is the business platinum card, which comes with 10 free gogo flight passes. Depending on your airline choice (and whether you would otherwise use wifi) these can be worth anywhere from $0 to ~$200. The business platinum fee is $450. There’s no uber credits though.
Both cards also allow you to use the delta sky clubs, so that’s nice if you fly delta.
Cool, thanks for another data point. I’m kicking myself for waiting as long into Christmas spending seasons to get the card, but oh well. I shouldn’t have an issue hitting the minimum spend organically.
Side note that creditkarma doesn’t pull data for the last 7 days, but pulls instantly. You need to wait 7 days since your last CK pull to refresh it. For example, if you pull on the 1st, you wont be able to refresh your score until the 8th. However if you pull on the 1st you will get an instant update if you pull again on the 10th (it doesn’t give you a score from the 3rd). CK is awesome for tracking what does/doesn’t hurt your score and by how much and when certain banks update after payment (pre-pay before statement cycle as Shinobi notes keeps your score premium). I use CK frequently to determine my perceived risk when I’m ready to apply for a couple cards or if I should wait for my score to rebound.
if interested in credit pulls… and you have a few amex cards already… they will approve you w/o a credit check… I have a few OBCash cards and a blue cash everyday plus simply biz card… I applied for the new gold card and was immediately approved and credit check never shows up anywhere. This was on Oct 20. Card took 10 days to arrive. they allow you 5 cards.
btw… the 250 fee is immediately charged… but plan to make it back with my 25k grocery “shopping” by 12/31. I am at 12k already. Plus the 4% unlimited on rest and fast food is a no brainer. Plus the seamless deal.
Thanks, Corndogg. That is really good and helpful information. Much appreciated!