topic Re: Score question in General Credit Topics

Score question

Anonymous — Thu, 14 May 2015 00:57:33 GMT

I applied for a discover it and received it last week. They pulled equifax. I got an alert today that they added the account to my reports. Equifax dropped 4 points, but experian didn't lose any points. My question is, did equifax lose the points because that was the report they pulled when I applied, or should I expect experian to eventually drop as well?

Thank you😊

Re: Score question

Anonymous — Thu, 14 May 2015 01:09:22 GMT

Most likely the 4pts lost was due to the inquiry. If they only pulled Equifax then I wouldn't worry about the other two bureaus.

Re: Score question

Anonymous — Thu, 14 May 2015 01:11:37 GMT

It said a new account was added and it dropped 4 points. I already lost points when they first made the inquiry, so this is new.

Thanks😉

Re: Score question

Anonymous — Thu, 14 May 2015 01:20:03 GMT

Well the pt drop may then be from a decrease of average account age due to the new account. Just because it dropped on Equifax doesn't mean the same will hold true for Experian and Transunion, you will have to just wait and see what happens. You should gain back those lost 4 pts on Equifax in no time.

Re: Score question

Anonymous — Thu, 14 May 2015 01:25:57 GMT

Well I did just pay half of my den off today, and I was at 29%util. Hopefully I will get some more points for that.

Thanks

Re: Score question

Anonymous — Thu, 14 May 2015 01:26:11 GMT

Debt not den

Re: Score question

MarineVietVet — Thu, 14 May 2015 02:46:44 GMT

@Anonymous wrote:
It said a new account was added and it dropped 4 points. I already lost points when they first made the inquiry, so this is new.

Thanks😉

Scoring looks at both new inquiries and new credit being added to your profile.

Re: Score question

Anonymous — Thu, 14 May 2015 03:02:46 GMT

Thank you☺️

Re: Score question

takeshi74 — Thu, 14 May 2015 12:06:02 GMT

@Anonymous wrote:
My question is, did equifax lose the points because that was the report they pulled when I applied, or should I expect experian to eventually drop as well?😊

I think you answered this question above when you said your score dropped on applying and that this was a new drop. Experian may drop as well when it updated. THe CRA's do not necessarily update at exactly the same time. Some may take longer than others.

To understand the cause(s) for any scoring change you really have to review reports before and after the change. Do not rely solely on alerts. Make sure you understand the triggers for the alerts versus the factors that impact scoring. The triggers do not cover all activity that has a scoring impact.

Re: Score question

Anonymous — Thu, 14 May 2015 13:12:23 GMT

I'm going to print my report. Thank you!😊