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@Anonymous wrote:
@Anonymous wrote:
@baller4life wrote:And there's your problem. Those are fako scores. Not Fico. Completely ignore them. Sign up with CCT first $1 trial to get your fico scores.
@I'm with @baller4life sign up for Credit Check Total for the free trial and get your true FICO scores. Your score probably did take a hit since your accounts just started reporting but once your accounts age to 1 year and once your inquiries age to 1 year you will see the rebound of your scores. You will actually see an improvement in score earlier than that as the accounts age. I went on a app spree after I closed on my house and it hurt for a little while. My scores started to really rebound a couple of months later.
Also, it seems as if the Vantage scores take a harder hit from new accounts than FICO does
+1
OP, I would imagine that you will rebound from the inquries and "new accounts" in about 3-4 months time. What you obviously won't rebound from is the AAoA reduction from 8 years to 2 years. Others can chime in on how significant that drop is, but I'd imagine it would cost you maybe 10-15 points. Fortunately, I think the new lines of credit in about that time will start positively impacting your score, so I'd imagine in 4 months or so your scores will be just about where they were before you went on your spree. From there, they'll probably continue to climb upward a couple of points each month, give or take.
Definitely need to see what you can do to get rid of the baddies as those will be the constraint to a nice score jump.
I agree with the others that suggested a $1 CCT trial membership; I just did another one about 15 minutes ago (probably my 15th or so at this point) and it's a great service for next to nothing. This way you'll have all of your FICO 08 scores.
Well... I feel like an idiot. Signed up for CCT and got the real results. All new accounts are reporting except the two AmEx. Thanks for all the insight, I'll update in the next few months as the scores start to bounce back.
Obviously EX took the biggest hit, it also took on the most INQs.
EX 669 TU 700 EQ 691
@baller4life wrote:And there's your problem. Those are fako scores. Not Fico. Completely ignore them. Sign up with CCT $1 trial to get your fico scores.
I get my FICO score each month in my Discover Card statement. Since August 2016 my score has ranged between 790 and 805. in March 2017 it dropped to 790 and in April it dropped to 707. So I ordered a copy of my credit report to see if any big changes had occurred. The only thing different was a 30 day past due posted in March. That was the only negative. Could a 30 day past due cause a 100 point frop in my FICO scroe????
@Anonymous wrote:I get my FICO score each month in my Discover Card statement. Since August 2016 my score has ranged between 790 and 805. in March 2017 it dropped to 790 and in April it dropped to 707. So I ordered a copy of my credit report to see if any big changes had occurred. The only thing different was a 30 day past due posted in March. That was the only negative. Could a 30 day past due cause a 100 point frop in my FICO scroe????
Yes, a recent 30D on an otherwise clean file can indeed do that.
@Anonymous wrote:I get my FICO score each month in my Discover Card statement. Since August 2016 my score has ranged between 790 and 805. in March 2017 it dropped to 790 and in April it dropped to 707. So I ordered a copy of my credit report to see if any big changes had occurred. The only thing different was a 30 day past due posted in March. That was the only negative. Could a 30 day past due cause a 100 point frop in my FICO scroe????
Yes, the 100 point score drop is due to the 30 past due from March. The higher score you have the bigger drop you'll have when something negative occurs.
I would contact the creditor and see if you can get a goodwill adjustment.
@baller4life wrote:And there's your problem. Those are fako scores. Not Fico. Completely ignore them. Sign up with CCT $1 trial to get your fico scores.
+1
@baller4life wrote:And there's your problem. Those are fako scores. Not Fico. Completely ignore them. Sign up with CCT $1 trial to get your fico scores.
No - the problem is a new 30 day late coupled with a boatload of new accounts.
When a profile has a critical mass of new accounts that represents increased risk and can trigger a score drop on its own. Now if you have a couple "isolated" 30 day lates aged more than 1 year but less than 2 year their impact on score will have lessened but they are lurking in the background. Unfortunately, adding a new 30 day late brings those back into play by association and total QTY of lates is a consideration particularly if they are not "fully aged" and are unrelated..
Experian Plus Score, Equifax score, TransUnion Vantage score and the beloved Fico scores all react strongly to a bunch of new accounts, coupled with a new 30 day late. The slightly older 30 day lates have been called up from the reserves to active duty by association. All scores below deck, prepare to dive.
@Thomas_Thumb wrote:
@baller4life wrote:And there's your problem. Those are fako scores. Not Fico. Completely ignore them. Sign up with CCT $1 trial to get your fico scores.
No - the problem is a new 30 day late coupled with a boatload of new accounts.
When a profile has a critical mass of new accounts that represents increased risk and can trigger a score drop on its own. Now if you have a couple "isolated" 30 day lates aged more than 1 year but less than 2 year their impact on score will have lessened but they are lurking in the background. Unfortunately, adding a new 30 day late brings those back into play by association and total QTY of lates is a consideration particularly if they are not "fully aged" and are unrelated..
Experian Plus Score, Equifax score, TransUnion Vantage score and the beloved Fico scores all react strongly to a bunch of new accounts, coupled with a new 30 day late. The slightly older 30 day lates have been called up from the reserves to active duty by association. All scores below deck, prepare to dive.
Original post 09/2016, new post 05/2017.
baller4life comment was for the 2016 situation not the 2017. Different posters too.
OP problem, boatload of accounts and looking at VantageScores, FICO drop was more like 15-40 points (not 50-100).
New Poster problem, brand new 30 day late.
Thank you. I will do that