July 3, 2013 at 11:18 pm #3367
Regarding your credit score drop, the most common thing is for your score to take a hit after a credit inquiry, a new account opened and your average age of accounts reduced. This is temporary, as your score will improve again within the next months if you manage your card responsibly.
I wouldn’t pay too much attention to FAKO scores, your FICO score could’ve dropped only a few points. Monitoring your credit report is what I think is valuable about the services offered by places like Credit Karma and Credit Sesame.
My score dropped after opening my first secured card, but improved after a second one for some reason.
Regarding opting out and removing old addresses, I don’t know much about this topic, though I’m sure this other person is not going to be affected by it. I’ll see what I can find out.July 8, 2013 at 7:52 pm #3368
I checked my credit report from one of the agencies, not both of them, but one of them. The address on the card is set to the one I live in now, so I shouldn’t have an issue with the card 🙂 Or, they shouldn’t. Yeah, I’m trying not to pay too much attention, but FAKO score or not, 33 points is still a huge loss. Once my CapOne card gets here, I think I will order my FICO reports/scores (possibly order the Suze Orman Kit) from myFICO. I haven’t decided yet or not.
Update: I received my approval letter in the post Saturday – about a week after I applied for the card (give or take a few days). I already sent my deposit in the day after applying and being accepted. The approval letter said the same thing as the website. Hopefully it doesn’t take 2-3 weeks from the day I get the letter to get my card.July 15, 2013 at 7:32 pm #3369
Update: Received my Capital One Secure Card today!!!!
Took about 2 weeks to apply and get the card 🙂July 15, 2013 at 8:06 pm #3370
woohoo!July 15, 2013 at 8:13 pm #3371
I just can’t figure out my due date and statement dates though, esp as everything is paperless. I heard the yearly cost will be in the first month, so I’m curious to find out when lol. I’m anxious I know 😉July 18, 2013 at 2:33 pm #3372
I remember feeling like my first due date took forever to post, so it might be a few days until that happens. You’ll see your annual fee soon I believe.July 18, 2013 at 2:36 pm #3373
Yep. My annual fee posted on the 17th (yesterday). I had to contact them by secure e-mail (as I want everything in writing from now on because of the collection that was paid and not taken off…) and was told that my DUE date is the 2nd of every month and my billing cycle is the 5th every month. I saw a post on CK (https://www.creditkarma.com/question/utilizing-credit-cards-to-build-credit-with-numbers) and it caught my interest, asked if I should change my due date or not and haven’t received a reply so far. lolSeptember 25, 2013 at 8:27 pm #3383
Hey Valerie, any new updates?February 23, 2017 at 3:34 am #4439
Thanks for sharing your experience through this blog. It’s been a great help for those who were facing same troubles regarding their credit score.
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