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@lylesvegas wrote:
Well after last week of apping the accounts and the inquiries are starting to take its toll. I have my fico score watch and the alerts are rolling in. My eq score was a 641 on 11-21 it is now 630 with a couple of accounts still to be added. But I hope going to garden for at least 6 mo my scores will come back strong.
Count yourself lucky. I lost 12 points for one inquiry!
True, but I would love to have a 12 point loss to drop me to a 751 .........LOL....
@calihlove75 wrote:
@lylesvegas wrote:
Well after last week of apping the accounts and the inquiries are starting to take its toll. I have my fico score watch and the alerts are rolling in. My eq score was a 641 on 11-21 it is now 630 with a couple of accounts still to be added. But I hope going to garden for at least 6 mo my scores will come back strong.Count yourself lucky. I lost 12 points for one inquiry!
Exactly, inquiries though required for new credit tells lenders that you are seeking credit and for most that is a bad sign. CRs reflect this also in scores but even with a good score you can be denied new credit and even have current accounts reflect negative (credit limits lowered or accounts closed) due to seeking new credit. Its better to open very few new accounts over a span of a year and garden as much as possible to push your score and credit limits higher.
Nov 14 : 2 Inquiry score drop 3 points
Nov 19 : new accout add no drop
Nov 21: 1 new inquiry score drop 7 points ;-(
Now im down from 675 to 665 after 3 inquiry and 1 new account add. Dont know if they going to drop more. Hope not.
I know the feeling....