Credit Cards

[rootpooty]

I wasnt expecting this. last month i was sitting at 683 transunion and 668 equifax. I applied for walmart last month and was denied so i knew tu was going to take a hit. last month i only let an 8% util report this month i got sidetracked and let 54% report. however the util change only brought my equifax down 12 points so now im sitting at 653 tu and 656 eq. did the inquiry hurt me that bad on tu? Im so bummed lol

[hateAshbury]

patience IS the key

[Revelate]

EQ here is Beacon 5.0 (FICO '04), TU is the '98 version.

Guessing at the relative value of metrics while interesting, is unfortunately only an intellectual exercise as the EQ score is useful, whereas the TU is limited as few (if any) lenders still use it.  I wouldn't put much stock in the TU98 change, the EQ drop is the relevant one for any practical purposes.

[BigDaddy18]

Yes but as stated above patience is the key whe this happened to me it only took two months for it to go back up and not only did it go back up it was higher!

[kjm79]

TU weighs util much heavier than EQ.  My 20% util is a negative on TU but a positive on EQ.  Go figure. 

[psychoinhell]

Patience patience patience...

I took a big hit in Jan and again in Feb of this year.  Jan was due to Xmas shopping and Feb when I was offered to upgrade my Walmart to a Walmart Discover.  When I accepted the offer I did not realize it would count as a new acct.  Now 3 months later my util is down a little, my accounts are a little older and inquiries are dropping off from last years new cards and new truck; most importantly I am back over 700.  I am so tempted to go for a Citi or Chase card, but must stick to my plan, which is to be 720 by fall and then get a nice 0% promotion card.

[rootpooty]

Thanks I don't even no why I sweated the drop on tu so much all the cards I want pull eq. Hopefully when this last baddie falls off and with a low util it will put me in the 700 range