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Established Member
Posts: 22
Registered: ‎08-16-2012
0

Help! Fico score dropped by 15 pts..why?

 

 

I'm rebuilding my credit lIke many of you..I am just baffled at the lost of 15 pts loss over a new phone account...( went from a 677 o 662)

let me mentioned that My husband and I just refinanced innOctober...

 

however, the refinance did not hurt my score..instead it boosted my score initially bc old loans dropped.

 

has this happened to anyone?

 

 

 

Established Contributor
Posts: 573
Registered: ‎02-12-2011
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Re: Help! Fico score dropped by 15 pts..why?

Sometimes new accounts affect your score a little negatively at first, but it will only get better in the long run. Having a good mix of credit will help you, but introducing new accounts to your credit report can have an affect on your AAoA (Average age of accounts). Your AAoA, along with the inquiry from the creditor to begin with will negatively affect your score at first. You will see it go back to your original score and then some as it ages. This is normal.



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Established Member
Posts: 22
Registered: ‎08-16-2012
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Re: Help! Fico score dropped by 15 pts..why?

Thanks for responding...I hope it bounces back soon, since I worked very hard at rebuilding my credit 

Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
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Re: Help! Fico score dropped by 15 pts..why?

New phone account? Explain?

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
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Registered: ‎10-31-2011
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Re: Help! Fico score dropped by 15 pts..why?


Jutz wrote:

New phone account? Explain?


Im guessing its from the INQ, the score drop I mean

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Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
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Re: Help! Fico score dropped by 15 pts..why?


beb86 wrote:

Jutz wrote:

New phone account? Explain?


Im guessing its from the INQ, the score drop I mean


Landline or Wireless, phone companies are soft pulls

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
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Registered: ‎10-19-2012
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Re: Help! Fico score dropped by 15 pts..why?

[ Edited ]

Jutz wrote:

beb86 wrote:

Jutz wrote:

New phone account? Explain?


Im guessing its from the INQ, the score drop I mean


Landline or Wireless, phone companies are soft pulls


Comcast pulled it hard on me. Not a phone company per se, but they do provide phone services.

 

Established Contributor
Posts: 529
Registered: ‎10-25-2012
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Re: Help! Fico score dropped by 15 pts..why?


HiLine wrote:

Jutz wrote:

beb86 wrote:

Jutz wrote:

New phone account? Explain?


Im guessing its from the INQ, the score drop I mean


Landline or Wireless, phone companies are soft pulls


Comcast pulled it hard on me. Not a phone company per se, but they do provide phone services.

 


Verizon HP me, so did Cox Communications...both were for phone services

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Posts: 382
Registered: ‎06-26-2012
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Re: Help! Fico score dropped by 15 pts..why?


tattooedhusker wrote:


 


Verizon HP me, so did Cox Communications...both were for phone services


Verizon HP'd me 3 times (on the same report)

 



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Valued Member
Posts: 47
Registered: ‎07-24-2012
0

ATT hp'd me as well. I guess not all phone companies got...

ATT hp'd me as well. I guess not all phone companies got the memo. :-/


Starting Scores July 2012: EQ FICO 645, TU FICO 636, EXP (CCT) 638
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