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Valued Contributor
Posts: 1,772
Registered: ‎10-28-2011
0

30 point drop!

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

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Regular Contributor
Posts: 132
Registered: ‎11-14-2011
0

Re: 30 point drop!

patience IS the key


Starting Score: 653 (11/1/2011 TransUnion)
Current Score: 719 (5/3/2012 TransUnion) 572 (3/21/2012 Equifax) 762 (4/14/12 VantageScore)
Goal Score: 700


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Moderator Emeritus
Posts: 10,860
Registered: ‎12-30-2011
0

Re: 30 point drop!

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.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 683, EQ 8 690, TU 710, EX 715 (01/01/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Frequent Contributor
Posts: 673
Registered: ‎04-23-2009
0

Re: 30 point drop!

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!


Starting Score: EQ FICO 777
Current Score: EQ FICO 803
Goal Score: EQ FICO 810


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Established Contributor
Posts: 1,008
Registered: ‎01-22-2008
0

Re: 30 point drop!

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


Starting Score: TU? EQ 585 EX? (12/06) (CH 7 bk 11/04)
Current Score: (5/12) TU 699 (myFICO) TU 709 (WalMart) EQ 690 EX 686 (CC denial 7/11)
Goal Score: 720 Across the Board by Mid 2012
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Regular Contributor
Posts: 565
Registered: ‎06-12-2010
0

Re: 30 point drop!

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.


Starting Score: 600ish in 2007
Highest Score to date: EQ 716 May 2012(lender pull)
Current Score: EQ 685 6-21-12 ; Walmart TU Fico 744 6-05-12
Goal Score: 801
Valued Contributor
Posts: 1,772
Registered: ‎10-28-2011
0

Re: 30 point drop!

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
NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club

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