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I am new to all of this and very happy to find this forum!! After being approved for a car loan with Capital One in 2012, I applied and was approved for a Capital One unsecured cc with a $300 CL and 6 months later I received an automatic CLI to $500. I have small balances on 3 ccs and always make pmts ahead time and my car pmts are auto deducted from bank account.
Here's my issue..... I really got carried away and now have JCP, Macy's, Fingerhut, LB and Amazon account.
Last week within 2 days I applied for LB, Wal-Mart and Amazon. I was approved for an Amazon card $600 CL and LB $300 CL but was denied by Wal-Mart.. So yesterday I received a denial email from GE Capital in regards to the Walmart credit app. I noticed there was a big difference in my TU score (denial email) vs.. my FICO score is as of 5/9. I know I went crazy and it won't happen again. I don't understand how there was such a huge drop in my TU credit score within days?? Will all of the CR agencies report include the same score now?? I am so confused and really frustrated with myself. I don't know what else to do besides paying off my small cc balances!! Any suggestions..Etc????
Edited: I went back and reread the denail letter and it states the credit score may differ from the CRA's score so maybe I'm wigging out just a little but I not applying for anymore ccs. I guess I need to wait until next month and see how much of a ding my crdit scored has taken...thanks again!!
Thank you in advance for your help!
myFICO uses TU98 and Walmart uses TU08. Between the two models there will be a difference. Different methods for calculating scores.
That was probably because it was a different score model that they based their score on. You can generally tell by what the score ranges are.