topic Re: 26 Point TU Score Drop! in Understanding FICO® Scoring

26 Point TU Score Drop!

missindependent — Tue, 07 Apr 2015 17:39:42 GMT

Holy crap. My Transunion just dropped from 625 to 599. I was approved by Capital One for a QuicksilverOne & Platinum card. Is it typical to lose 26 points as a result of two inquiries? I am disappointed.

Re: 26 Point TU Score Drop!

gdale6 — Tue, 07 Apr 2015 19:12:42 GMT

@missindependent wrote:
Holy crap. My Transunion just dropped from 625 to 599. I was approved by Capital One for a QuicksilverOne & Platinum card. Is it typical to lose 26 points as a result of two inquiries? I am disappointed.

A lot of points just for 2 inqs I would be looking for something else, the inq may have just been the trigger for the update and not the cause. If this is FAKO from the TU site just throw it out the window its useless.

Re: 26 Point TU Score Drop!

missindependent — Tue, 07 Apr 2015 21:17:59 GMT

I use myFICO to monitior my scores. It says that an inquiry was detected. I don't see any additional details.

Re: 26 Point TU Score Drop!

missindependent — Tue, 07 Apr 2015 21:38:47 GMT

I called Transunion and they said there was only one inquiry from CapitalOne.

Re: 26 Point TU Score Drop!

Anonymous — Tue, 07 Apr 2015 21:43:18 GMT

It seems very unlikely just one inq & new account would cause that much of a drop? Mine dropped about 50 points but I did get 10 new cards. Was expecting it. I would look into it further. Keep checking your report. That's definitley note normal.

Re: 26 Point TU Score Drop!

missindependent — Tue, 07 Apr 2015 21:47:17 GMT

I got 4 new accounts. But, Transunion only had one CapitalOne inquiry.

I'll keep my eye on it. It's annoying chasing customer service agents down.

Re: 26 Point TU Score Drop!

Anonymous — Tue, 07 Apr 2015 21:51:38 GMT

I don't think 4 new accounts would cause such a drastic reduction? I can see maybe 20 points. I knew I was headed for a plunge with all 10. But I do check my report on the fako sites just in case they drop something on there they shouldn't. It happened just a couple of months ago.

Re: 26 Point TU Score Drop!

lg8302ch — Tue, 07 Apr 2015 21:52:02 GMT

@gdale6 wrote:
@missindependent wrote:
Holy crap. My Transunion just dropped from 625 to 599. I was approved by Capital One for a QuicksilverOne & Platinum card. Is it typical to lose 26 points as a result of two inquiries? I am disappointed.
A lot of points just for 2 inqs I would be looking for something else, the inq may have just been the trigger for the update and not the cause. If this is FAKO from the TU site just throw it out the window its useless.

As Cap1 can be very quick with reporting it might not only be the 2 INQ but already the two new accounts reporting and the drop on your AAoA ?

Re: 26 Point TU Score Drop!

Anonymous — Tue, 07 Apr 2015 21:55:41 GMT

Cap One is very Sloooooow in reporting my accounts.

Re: 26 Point TU Score Drop!

lg8302ch — Tue, 07 Apr 2015 22:21:02 GMT

@Anonymous wrote:
Cap One is very Sloooooow in reporting my accounts.

oh...mine was on the reports the next day

Re: 26 Point TU Score Drop!

gdale6 — Tue, 07 Apr 2015 22:25:37 GMT

@lg8302ch wrote:
@Anonymous wrote:
Cap One is very Sloooooow in reporting my accounts.
oh...mine was on the reports the next day

Might be different for you since you live outside US. I have never had a Cap-1 report till after the second statement cut, that seems to be the norm with them but there are exceptions, you are proof of that.