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

[Anonymous]

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?

[sphinx313]

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.

[Anonymous]

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

[Jutz]

New phone account? Explain?

[beb86]

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@Jutz wrote:

New phone account? Explain?

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

[Jutz]

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@beb86 wrote:

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@Jutz wrote:

New phone account? Explain?

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

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Landline or Wireless, phone companies are soft pulls

[HiLine]

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@Jutz wrote:

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@beb86 wrote:

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@Jutz wrote:

New phone account? Explain?

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

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Landline or Wireless, phone companies are soft pulls

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

[tattooedhusker]

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@HiLine wrote:

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@Jutz wrote:

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@beb86 wrote:

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@Jutz wrote:

New phone account? Explain?

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

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Landline or Wireless, phone companies are soft pulls

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

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

[scarrollprint]

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@tattooedhusker wrote:

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

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

[DrivenDoctoress]

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