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Home Depot, score increase

Frequent Contributor

Home Depot, score increase

So, after biting all my nails off waiting for the LUV button to appear in my Home Depot account, I decided to go ahead and call for a CLI, because I read in the forums that it's likely my limit is only $1250 because I applied online back in October, and I have never called in.  I asked them to give me a $1250 increase, and I received a $1350 increase, so my total line is now $2600.  It did, however, result in a hard pull, but for that kind of increase I think it's worth it.  So today (1 day later) I got a Scorewatch alert telling me about the inquiry, and stating my score went up 7 points! Weird I think...

AMEX Blue Cash - $15k, Lowes/GECRB - $10K, PNC - $10K, CIti Diamond Preferred - $10K, Home Depot/Citi - $7590, Best Buy Store/HSBC - $7400, Citi Platinum Select - $7150, Best Buy RZMC/HSBC - $5750, Dillards/GECRB - $4350, Discover More - $3600, Cap 1 Cash Rewards - $3000, Amex HHonors - $2000, State Farm - $2000, Cap 1 MTV - $1500
Message 1 of 4
3 REPLIES
Regular Contributor

Re: Home Depot, score increase

even with the hard inquiry, your score increase because since you received a CLI your utilization on your credit cads went down. that might also be the reason.


Starting Score: EQ 548 [ Feb 2010 ]
Current Score: TU 663 EQ 686
Goal Score: 700


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Message 2 of 4
Frequent Contributor

Re: Home Depot, score increase

 


sonson wrote:

even with the hard inquiry, your score increase because since you received a CLI your utilization on your credit cads went down. that might also be the reason.


I don't think that's the reason, because I have total credit card limits of about $25,000 and nearly 0% util.

 

AMEX Blue Cash - $15k, Lowes/GECRB - $10K, PNC - $10K, CIti Diamond Preferred - $10K, Home Depot/Citi - $7590, Best Buy Store/HSBC - $7400, Citi Platinum Select - $7150, Best Buy RZMC/HSBC - $5750, Dillards/GECRB - $4350, Discover More - $3600, Cap 1 Cash Rewards - $3000, Amex HHonors - $2000, State Farm - $2000, Cap 1 MTV - $1500
Message 3 of 4
Moderator Emeritus

Re: Home Depot, score increase

It's not the inquiry. It's likely something else that caused that. I once got an alert that my EQ FICO increased 20 points after I added one inquiry. The inquiry didn't do it, but rather a baddie fell off that SW doesn't alert for.

 

In your case, and with near or 0% util, it's something else. It could be that balances changed. Some have reported score changes even when changing util between 0% and 1%. A few dollars difference in balances can even trigger a change, albeit small. Maybe your AAoA changed or an account aged or hit an anniversary.

Message 4 of 4