Credit Cards

[Brandnick]

Applied for two credit cards today, below is the following detail 

American Express Blue - Approved ($5000)

Discover - Approved ($5500)

Equifax score (Discover Pulled) went from 763 to 755 = 8 point drop

Experian score (American Express) went from 771 to 764 = 7 point drop

[Creditaddict]

---

Brandnick wrote:

Applied for two credit cards today, below is the following detail 

American Express Blue - Approved ($5000)

Discover - Approved ($5500)

Equifax score (Discover Pulled) went from 763 to 755 = 8 point drop

Experian score (American Express) went from 771 to 764 = 7 point drop

---

I think this is why rebuilders get so scared about applying for cards and taking score drops.... someone with a 580 is not going to see score drop from 2 apps like a person with 750+ (95% of the time in my opinion)

I personally can tell you once my score cleared the 650 I saw an up and down of no more than 10 points through 10,20,30 ING's, and 1,5,10,15 new accounts reporting!

[wallyworld123]

Congrats on the cards gr8 starting limit. your score will be back up in no time!

[Epcot]

Nice. On monday I apped for two cards as well as a CLI that I was told would be a HP. Only one of the three inquiries has shown up. No score change for me yet..

[Brandnick]

Correct I was amazed how much a score drop I got. Based on the score drop I guess it's saying that persons with high score must give more then persons with lower score. I am ok with that as I maybe apply for credit once every year or two. (this sounds very familiar like I heard it before) honestly I am ok because my score will recover.

[android01]

I had an EQ score of 818 before I applied for a new card two months ago, and with that one inquiry and one new account, my score dropped 21 points to 797.  I'm sure it'll be back up over 800 in another couple of months.