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710 Declined :/

Valued Contributor

Re: 710 Declined :/

No. The inquiries should only cost you 5-10 points. Only major derogatory information can impact your score that much.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 11 of 21
Established Contributor

Re: 710 Declined :/


TwinGirls19 wrote:

creditnocash wrote:

i know discover does use the fico since my dad just got their card. 

 

how did your score drop too 610? or is it 710? since your lease just reported a reason could be loan balances to loan amount too high. 

i got a car in august (toyota) and paid about 10% when i apped amex in jan. i was declined with a 726 ex fico. 

 

2 inq's would not drop your score 100 points though no matter how you look at it. 



*****My equifax is 710 (got the score alert on friday), i purchased my trans union but its still the same score 610 i guess they take a couple of days more than equifax to upgrade their system. The reason Discover denied me was because they said the student loans are deffered but "it still looks like you havent began to pay them", they also said i have a couple of inquiries (though i have no collections), it also still shows my utilization is high which is weird because i only have a balance of 7 dollars on two cards totalin 700cli. (this base on the fico report i view on friday when i got the score alert.) I've had the two cards for about 7-8 months. I will definitely try to recon the barclays thanks for the number. uggghh lol. do you guys think these two inquiries will bring be from a 710 to 600's?  

Its hard to say really.  If you past a threshold inq amount (IE: going from 4 to 6 when 5 is a threshold amount) it might. 

A lot will be determined by how many inq you already had and how old they are.  Fico, if memory serves me correct, does not count inq over a year old in its algorithim.

 


NFCU #1 Fan!! NO MOAR APPS TIL 10/13 Minimum!!
TU -746, EX - 721, EQ -745
Cards:NFCU Flag Visa Sig $10000, CSP $8500, AMEX BCP $2000 Freedom $3500, Disc IT $5000, Cap 1 Green $2100, Credit 1 CLOSED! AU on Amex Green, Discover $2000, Cap One Plat $1000
Message 12 of 21
Mega Contributor

Re: 710 Declined :/


Pilotdude wrote:

TwinGirls19 wrote:

creditnocash wrote:

i know discover does use the fico since my dad just got their card. 

 

how did your score drop too 610? or is it 710? since your lease just reported a reason could be loan balances to loan amount too high. 

i got a car in august (toyota) and paid about 10% when i apped amex in jan. i was declined with a 726 ex fico. 

 

2 inq's would not drop your score 100 points though no matter how you look at it. 



*****My equifax is 710 (got the score alert on friday), i purchased my trans union but its still the same score 610 i guess they take a couple of days more than equifax to upgrade their system. The reason Discover denied me was because they said the student loans are deffered but "it still looks like you havent began to pay them", they also said i have a couple of inquiries (though i have no collections), it also still shows my utilization is high which is weird because i only have a balance of 7 dollars on two cards totalin 700cli. (this base on the fico report i view on friday when i got the score alert.) I've had the two cards for about 7-8 months. I will definitely try to recon the barclays thanks for the number. uggghh lol. do you guys think these two inquiries will bring be from a 710 to 600's?  

Its hard to say really.  If you past a threshold inq amount (IE: going from 4 to 6 when 5 is a threshold amount) it might. 

A lot will be determined by how many inq you already had and how old they are.  Fico, if memory serves me correct, does not count inq over a year old in its algorithim.

 


In no way shape or form will 2 INQ's drop your score close to 100 points. Never. INQ's / New Accounts only affect the FICO score 15%. Thats it.

 

It has to be a derog or some type of negative reporting to do that damage and even that is a stretch.

 




EQ FICO 548 3/3/16
Message 13 of 21
Regular Contributor

Re: 710 Declined :/


 

In no way shape or form will 2 INQ's drop your score close to 100 points. Never. INQ's / New Accounts only affect the FICO score 15%. Thats it.

 

It has to be a derog or some type of negative reporting to do that damage and even that is a stretch.

 



I think i confused you guys sorry, what i mean is will these two inquiries bring me below 700. im currently a 710 equifax.

CURRENT SCORES: EX Fico (Amex) 730, TU Fico 745, EQ Fico 717

CURRENT CARDS: Amex Green NPSL, Amex BCE 2K, Chase Sapphire 5K, Citi Thankyou Preferred 3.5K, Discover It 1.7K, Walmart Discover 1.6K, Capital One Platinum 1.5K

Message 14 of 21
Mega Contributor

Re: 710 Declined :/


TwinGirls19 wrote:

 

In no way shape or form will 2 INQ's drop your score close to 100 points. Never. INQ's / New Accounts only affect the FICO score 15%. Thats it.

 

It has to be a derog or some type of negative reporting to do that damage and even that is a stretch.

 



I think i confused you guys sorry, what i mean is will these two inquiries bring me below 700. im currently a 710 equifax.


Well that makes much more sense Smiley Very Happy

 




EQ FICO 548 3/3/16
Message 15 of 21
Established Contributor

Re: 710 Declined :/

Discover pulled a bank-enchanced EQ Fico when I was approved. The EQ they gave me was 25 points higher than the one I got from DCU.


DCU Platinum: 4000 - Discover IT: 11000 - Walmart: 5000 - AMEX BCP: 18000 - Chase Freedom VS: 5000
in the garden since 1/24/14 - #GARDENSTRONG
Message 16 of 21
Regular Contributor

Re: 710 Declined :/


eviLution wrote:

Discover pulled a bank-enchanced EQ Fico when I was approved. The EQ they gave me was 25 points higher than the one I got from DCU.


I'm done trying for discover Lol never again. I'll stick to my boa cash rewards when it unsecures and my capital one grrrr

CURRENT SCORES: EX Fico (Amex) 730, TU Fico 745, EQ Fico 717

CURRENT CARDS: Amex Green NPSL, Amex BCE 2K, Chase Sapphire 5K, Citi Thankyou Preferred 3.5K, Discover It 1.7K, Walmart Discover 1.6K, Capital One Platinum 1.5K

Message 17 of 21
Regular Contributor

Re: 710 Declined :/


TwinGirls19 wrote:

 

In no way shape or form will 2 INQ's drop your score close to 100 points. Never. INQ's / New Accounts only affect the FICO score 15%. Thats it.

 

It has to be a derog or some type of negative reporting to do that damage and even that is a stretch.

 



I think i confused you guys sorry, what i mean is will these two inquiries bring me below 700. im currently a 710 equifax.


Are you sure they even pulled EQ?

 

Barclays pulls TU almost exclusively.  Discover also pulls TU more often than not.  

Message 18 of 21
Senior Contributor

Re: 710 Declined :/

Resisting the urge to apply with every score bump isn't easy but it pays off in the long run. Smiley Happy


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


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Message 19 of 21
Valued Contributor

Re: 710 Declined :/

    So after reading the fine print a suject line that would also be accurate for this would be "610 declined." Sometimes we are only as strong as our weakest link unfortunately. You made a smart decision by checking your TU scorer after the initial score alert where your other score was 710. That may have been the time to pull back and hold off a little longer. I know I have the benefit of 20/20 hindsight saying that. Idk what I would have done but drkaje was right. Doing nothing and waiting is very hard byut essential to good credit scores....

Message 20 of 21