FICO score jumped 64 points

[JoeKing]

I use myfico.com to keeps tabs on my score, and I received a notice today that my score has gone up 64 points?! Don't get me wrong I'm very happy about this, but also confused.

The only activity I've had over the past few months was a new AMEX account I opened for traveling purposes. I thought your score actually drops if you open another line of credit. What gives?

 

[compnovice]

Did your total available credit increase a lot because of that a/c?

 

[Yzzim]

maybe your debt to available credit ratio is better?

64 points for that seems like a lot though.

 

[pstylesss]

debt to credit ratio?

 

[spidey07]

Originally posted by: ZeroIQ
debt to credit ratio?

That's exactly why. revolving credit utilization.

 

[zoiks]

Originally posted by: spidey07

Originally posted by: ZeroIQ
debt to credit ratio?

That's exactly why. revolving credit utilization.

Thats probably why my score also keeps fluctuating as well. Thanks for pointing that out.

 

[TallBill]

Zing, just another post that proves that I know next to nothing about credit scores. Nor do I want to!

 

[JoeKing]

Originally posted by: ZeroIQ
debt to credit ratio?

see that's what I was thinking at first, but this is a "no limit" card. I read before I opened it that this might actually be bad since it doesn't affect my total credit, but still shows my current balance on the card when the report is generated.