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I had a 730 two weeks ago, but, bought a used car and apparently the inquiries hit my credit hard. The only thing that has changed are those inquiries, the addition of a car loan, and $20 more dollars of balance on one credit card and my score has dropped to a 676,
I paid off the card as it was a low balance/low limit card. I guess all I can do now is wait for it to gradually go back up?
I got my score here, so not a fako score.. How long do you think it will take for my score to go back over 700?
@Anonymous wrote:I had a 730 two weeks ago, but, bought a used car and apparently the inquiries hit my credit hard. The only thing that has changed are those inquiries, the addition of a car loan, and $20 more dollars of balance on one credit card and my score has dropped to a 676,
I paid off the card as it was a low balance/low limit card. I guess all I can do now is wait for it to gradually go back up?
I got my score here, so not a fako score.. How long do you think it will take for my score to go back over 700?
It's very hard to predict how much your scores will increase over the next few months ~ I would assume that the new auto loan lowered your Average Age of Accounts ( AAoA ) somewhat. How many inquiries are showing on your report ? If they are all coded as AUTO then they should only be scored as a single inquiry.
Also what was the limit on the card that reported the balance and how much did it increase your overall utilization ?
@pizzadude wrote:
@Anonymous wrote:I had a 730 two weeks ago, but, bought a used car and apparently the inquiries hit my credit hard. The only thing that has changed are those inquiries, the addition of a car loan, and $20 more dollars of balance on one credit card and my score has dropped to a 676,
I paid off the card as it was a low balance/low limit card. I guess all I can do now is wait for it to gradually go back up?
I got my score here, so not a fako score.. How long do you think it will take for my score to go back over 700?
It's very hard to predict how much your scores will increase over the next few months ~ I would assume that the new auto loan lowered your Average Age of Accounts ( AAoA ) somewhat. How many inquiries are showing on your report ? If they are all coded as AUTO then they should only be scored as a single inquiry.
Also what was the limit on the card that reported the balance and how much did it increase your overall utilization ?
How can you tell if an inquiry was coded a certain way?? The reason I'm asking is I just bought a house back in December and first had my credit pulled in October (for approval) and then they pulled it again in November, just before I closed, and it shows up as 2 separate entries on both my TU and EQ Fico reports, but are not coded any certain way. I worry that they look like 2 separate inquiries, even though they were both through the same lender just a month apart. Any ideas?
@RW771 wrote:How can you tell if an inquiry was coded a certain way?? The reason I'm asking is I just bought a house back in December and first had my credit pulled in October (for approval) and then they pulled it again in November, just before I closed, and it shows up as 2 separate entries on both my TU and EQ Fico reports, but are not coded any certain way. I worry that they look like 2 separate inquiries, even though they were both through the same lender just a month apart. Any ideas?
I believe that it is based on either the inquiry type or the comments field ~ however I don't think that these show on all reports. I'll have to check on this.....