myFICO® Forums
Help
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 

Sad sad score drop

tag
Get Access Now
joshuapd1987
Frequent Contributor
‎07-30-2013 07:28 PM
‎07-30-2013 07:28 PM

Sad sad score drop

Hi friends!

So - my EQ has gone from 726 to 640 because of my app spree in June :*(

5 INQs
5 new cards - June

AAoA 7 months

How long do you guys think it will take to recover?

Trying not to sob...

MyFICO Scores: 720 (EX 10/05) | 718 (EQ 10/05) | 703 (TU 10/05)| | Amex Plat NPSL | Amex PRG NPSL | Amex Business Gold NPSL | Chase Sapphire Preferred 22,000 | Chase Freedom 20,000 | Walmart 15,000 | Amex Delta Reserve 12,900 | Chase Ritz 10,000 | Diner's Club Elite 10,000 | NASA Platinum Rewards 8,800 | Capital One Quicksilver 2,500
Message 1 of 10
0 Kudos
9 REPLIES 9
myjourney
Super Contributor
‎07-30-2013 07:47 PM
‎07-30-2013 07:47 PM

Re: Sad sad score drop

@joshuapd1987 wrote:
Hi friends!

So - my EQ has gone from 726 to 640 because of my app spree in June :*(

5 INQs
5 new cards - June

AAoA 7 months

How long do you guys think it will take to recover?

Trying not to sob...

Don't sob Smiley Sad

Usually 4-7 months YMMV

Join the garden club where we are all waiting with you

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 10
0 Kudos
TNTransplant
Established Contributor
‎07-30-2013 08:02 PM
‎07-30-2013 08:02 PM

Re: Sad sad score drop

@joshuapd1987 wrote:
Hi friends!

So - my EQ has gone from 726 to 640 because of my app spree in June :*(

5 INQs
5 new cards - June

AAoA 7 months

How long do you guys think it will take to recover?

Trying not to sob...

You'll be fine.  Typically the new account impact minimizes around 6 months, and will continue to lessen up to the 12 month mark as your account age increases and the inquiry hit decreases.  I feel that it's actually better to do as you did and apply for new accounts around the same time.  The score impact is temporary, and you have positioned yourself well for the long-term.

 

Congrats on your approvals, by the way.  Looks like you have some nice cards in your profile.  Smiley Happy


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14
Message 3 of 10
0 Kudos
09Lexie
Moderator Emerita
‎07-30-2013 08:04 PM
‎07-30-2013 08:04 PM

Re: Sad sad score drop

It may feel like a kick in the gut but you've gathered a bunch of nice cc's. let them age and by Jan you'll be looking better.

Closing Credit Cards

The Definitive Amex 3X CLI Guide

Frequently Requested Threads
Message 4 of 10
0 Kudos
joshuapd1987
Frequent Contributor
‎07-30-2013 08:09 PM
‎07-30-2013 08:09 PM

Re: Sad sad score drop

Thanks guys. I appreciate it - and good to know the will to tear up will end in a few months...
MyFICO Scores: 720 (EX 10/05) | 718 (EQ 10/05) | 703 (TU 10/05)| | Amex Plat NPSL | Amex PRG NPSL | Amex Business Gold NPSL | Chase Sapphire Preferred 22,000 | Chase Freedom 20,000 | Walmart 15,000 | Amex Delta Reserve 12,900 | Chase Ritz 10,000 | Diner's Club Elite 10,000 | NASA Platinum Rewards 8,800 | Capital One Quicksilver 2,500
Message 5 of 10
0 Kudos
trying_to_B_good
Contributor
‎07-30-2013 08:12 PM
‎07-30-2013 08:12 PM

Re: Sad sad score drop

yeah youll be fine!Smiley Wink I'm in the same boat! Gotta love those app sprees, but hey join the garden and grab a hoe!!!Smiley LOL Oh and how in the world do you have 10k CL on one &  $400 on walmart....time to ask for that CLI!!!Smiley Happy

Message 6 of 10
0 Kudos
enharu
Super Contributor
‎07-30-2013 08:27 PM
‎07-30-2013 08:27 PM

Re: Sad sad score drop

Your scores should recover to approximately what it was before in a year. For some people it may only take only 3-6 months, for some, especially those who had 800+ scores, it may take a few years.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 7 of 10
0 Kudos
joshuapd1987
Frequent Contributor
‎07-30-2013 09:10 PM
‎07-30-2013 09:10 PM

Re: Sad sad score drop

Thanks all! And trying_to_b - tell me about it. Credit Solutions hates me.
MyFICO Scores: 720 (EX 10/05) | 718 (EQ 10/05) | 703 (TU 10/05)| | Amex Plat NPSL | Amex PRG NPSL | Amex Business Gold NPSL | Chase Sapphire Preferred 22,000 | Chase Freedom 20,000 | Walmart 15,000 | Amex Delta Reserve 12,900 | Chase Ritz 10,000 | Diner's Club Elite 10,000 | NASA Platinum Rewards 8,800 | Capital One Quicksilver 2,500
Message 8 of 10
0 Kudos
djc1puno
Valued Contributor
‎07-30-2013 09:31 PM
‎07-30-2013 09:31 PM

Re: Sad sad score drop

Garden time! Youll be fine Smiley Wink just give it time and youll get your points back Smiley Happy


GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
---=[NORTHBOUND]=---
Message 9 of 10
0 Kudos
joshuapd1987
Frequent Contributor
‎07-31-2013 10:18 AM
‎07-31-2013 10:18 AM

Re: Sad sad score drop

Gardening away! Picking up a bronze spade before too long... Keep your fingers crossed for me! Smiley Happy

MyFICO Scores: 720 (EX 10/05) | 718 (EQ 10/05) | 703 (TU 10/05)| | Amex Plat NPSL | Amex PRG NPSL | Amex Business Gold NPSL | Chase Sapphire Preferred 22,000 | Chase Freedom 20,000 | Walmart 15,000 | Amex Delta Reserve 12,900 | Chase Ritz 10,000 | Diner's Club Elite 10,000 | NASA Platinum Rewards 8,800 | Capital One Quicksilver 2,500
Message 10 of 10
0 Kudos
† Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.