App spree cost me 28 FICO points??

[PointLager]

Just received a notice from a new card that my APR is higher because my EX FICO is 691.

In Dec I had 6m of credit history, two cards (one unsecured) of $500 each, 2 inq and my EX FICO score was 719 per letter I got with new card. So in dec I added 2 inq plus a PRG and a $2k delta revolver.


Fast fwd to last week's spree. I'm not sure when Amex pulled my score (in which order). I think they may have been the 7th HP total

Is this kind of a drop expected? I haven't seen my FAKO score move down this much. Unfortunately I don't have an EQ File so can't subscribe to myfico scores.

Should I see much of an immediate increase in score once my additional lines report? (2 new CLs of $5k and a CLI from $2k to 6k plus an additional charge card. With 8 HPs vs 7 HPs when this 619 score was generated.)

I'm in gardening mode for a while but would be good to be above 700 again sooner.


Thanks

[user5387]

An app spree can hurt in terms of hard pulls, new tradelines, lower AAoA, and so on.

It may help in terms of lowering utilization, assuming utilization was high to start with.

Also, if you compare scores from multiple sources (different formulas), then the comparison may be meaningless.

[myjourney]

Here's something to remember when it come to 2 things about app spree's & scores after INQ's and new TL's. 

INQ's will cost you between 3-5 points per INQ ....YMMV

New TL's will cost you 3-5 points when they report per TL ....YMMV

Some people with thick files sometimes see scoring increases but generally you see a scoring drop. 

So in your case with so many new INQ's/TL's that's about right in the Fico scoring dept.

The good news is in 4-6 months they'll recover and you'll probably be stronger score wise ........YMMV

[PointLager]

Thanks for the feedback guys. Gardening it is for me at this point. I've had virtually nil utilization. (I print one sub $100 balance per
Month among all my revolvers while my charge card balance prints between $2 and $5k per month, always PIF before next charge card statement.

[Sock]

Pay on time, in full, and after a few months you should be able to negotiate the APR down. Typically this is 6-12 months.