05-07-2012 09:16 PM
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
05-07-2012 09:28 PM
patience IS the key
05-07-2012 09:29 PM
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.
05-07-2012 09:40 PM
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!
05-09-2012 11:26 AM
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.
05-09-2012 01:20 PM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.