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EQ score drops 15 points

Established Member

EQ score drops 15 points

My EQ FICO score dropped 15 points from 781 to 766 by simply opening a Walmart credit card. Does this drop seem a little much? I still have an AMEX account that has not yet reported and I'm wondering how much another new account will drop it even further.

4 REPLIES
Valued Contributor

Re: EQ score drops 15 points

It doesn't take much to have a large effect when you have a high score. I'm assuming you had no new accounts. The second new account to report will probably be less point loss. They will come back as the account ages.

Established Member

Re: EQ score drops 15 points

Ya no new accounts in over a year. Hopefully the second one won't hurt as much. I think it was worth it though because I now get my free TU FICO score every month! TU score from Walmart is 750 and TU from myfico is 765

Valued Contributor

Re: EQ score drops 15 points

The TU scores can differ because there are different year versions of the Transunion score sold. Or they could have been pulled on different days after changes to your account.

 

Your score could take another sizeable ding when the new card reports, but this should only occur if it lowers your average age of accounts significantly.

Established Member

Re: EQ score drops 15 points

 With two new accounts reporting my AAoA should be in the 6y range.