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Good questions! Scores can go up, down and even go unchanged when a new inq and a new account report. What was your indiv and overall util before you apped?
inquring_minds wrote:
My EQ score dropped 3 pts for an inquiry.Will it drop again when the new TL reports? and if it does, will low utilization (3%) offset any possible dip in score (due to new TL)?
@inquring_minds wrote:
Hi Fused,3% on one card and 7% on the other for 10% overall.I am keeping util low to see what kind of gains I receive of the next few months.
Think it's still middle of the night for fused , so I'll jump in. Depending on the CLI's of your cards, your overall util is probably more like 5%. Total of balances due, divided by total of CL's = total util.
I haven't done a lot of recent app'ing, but looking back over my older scores, I think I recovered my score drop and more by month three. If you work them for optimal util, you'll be pleasantly surprised at what happens in 2008! I would expect that you will see a steady increase in scores as you go along, not just a big jump at the end of one year.
There might be something funny going on with your spreadsheet. If I read your numbers right, you've got $90 out of $3000 (3% ) and $140 out of $2000 (7% ) for a total of $230 out of $5000 = 4.6%.
@inquring_minds wrote:
Good morning Hauling,
CL's are -3k - 3%2K - 7%
I have a neat spreadsheet setup here I plug in the numbers and it calculates indiv and overall util
I'm not sure how your overall util can be 10% with individual util of 3% and 7%.?? Since your util was very low to begin with, my guess is you might take a hit when the new account reports.
inquring_minds wrote:
Hi Fused,3% on one card and 7% on the other for 10% overall.I am keeping util low to see what kind of gains I receive of the next few months.