Lost 7 points for an Inquire

Anonymous · ‎06-23-2016

Well, i applied for Citi Cosco Visa and my EX dropped 7 points after the inquire, nothing else is happenig beside the application, is this normal for an inquire??

Thanks in advance.

Anonymous · ‎06-23-2016

What's normal for an inquiry is completely dependent on profile. For some, it would have no impact at all. For others it can be even higher than the 7 point drop you experienced. As it happens, my EX score increased 7 points with each of my last two inquiries that passed the one year mark. So, at least with EX, an inquiry seems to be worth 7 points with my profile.

RonM21 · ‎06-23-2016

Captool is right, it differs with each profile. Usually, a n inquiry can cost anywhere between 3-7 points on average.

Total CL: $321.7k

UTL: 2%

AAoA: 7.0yrs

Baddies: 0

Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

Anonymous · ‎06-23-2016

I think i found what triggered this points drop, looking my EX i see that Discover reported a balance of 1421, that is around 35% of my CL, but why?, this card report the second day of each month, next report July 2, my due day is june 28, so why Discover did this?, by the way i already PIF.

My credit debt is now $3096 of $155,950 Total credit and Total Utilization went from 1% to 2%, my discover to 35%.

Any ideas why Discover reported early??

Anonymous · ‎06-24-2016

Did anything else change with your discover account? Maybe a credit line change or something or a remark on the account? Even something minor like a name or address change I've see resulting in an extra reporting to the bureaus that month. Or, it could just be a fluke. There's been a couple of times that my creditors for no good reason seemed to report an extra time one month. You could always call up and ask if there was a reason.

If your score changed because of the utilizaiton, naturally you'll see it rebound the next time Discover reports (assuming you PIF as you stated). If it was because of the inquiry it could take several months up to a year, but 7 points really isn't that significant so I wouldn't sweat it.

Anonymous · ‎06-24-2016

@Anonymous wrote:
Did anything else change with your discover account? Maybe a credit line change or something or a remark on the account? Even something minor like a name or address change I've see resulting in an extra reporting to the bureaus that month. Or, it could just be a fluke. There's been a couple of times that my creditors for no good reason seemed to report an extra time one month. You could always call up and ask if there was a reason.

If your score changed because of the utilizaiton, naturally you'll see it rebound the next time Discover reports (assuming you PIF as you stated). If it was because of the inquiry it could take several months up to a year, but 7 points really isn't that significant so I wouldn't sweat it.

They increased my credit limit this month ($1000), oh well i will wait for the next report (Jul 2) and see if that change my score again, i already PIF.

Thank you guys.

Anonymous · ‎06-24-2016

The increased CL could have been the reason. I got a $500 CLI one time on a card mid-cycle and they reported it. It happens sometimes.

Anonymous · ‎07-01-2016

After few days and "NO" changes on my report my EX went up 6 points (Cosco visa has not reported as open yet), from 718 to 711 to 717 in less than 10 days, also Discocer has not reported my $0 balance yet so i hope will get some points after that (July 2), will report back.