New application score drop

Anonymous · ‎11-02-2014

How much will my score drop if I apply for a card and a hp was done ?

Anonymous · ‎11-02-2014

There is no set number for this, sorry. It would most likely be no more than a couple points. I wouldn't worry about it too much.

Anonymous · ‎11-02-2014

I applied for 6 cards and was approved for 3. I experienced a drop of about 10 points.

uswala · ‎11-02-2014

I do not think 1-2 inquires cause too much effect on your score. If you have multiple inquiries within a short span then it would be harmful.

Anonymous · ‎11-02-2014

@Anonymous wrote:
How much will my score drop if I apply for a card and a hp was done ?

My experience is 10pts for 1st INQ from 0 and about 2 pts afterwards for each

CreditCuriosity · ‎11-02-2014

@Anonymous wrote:
@Anonymous wrote:
How much will my score drop if I apply for a card and a hp was done ?
My experience is 10pts for 1st INQ from 0 and about 2 pts afterwards for each

Honestly probably depends on how thick/thin your credit profile is. No expert but my average is about 2-3 a HP as well.

dragonfly66 · ‎11-02-2014

I applied for 2 cards recently and saw about a 4 point drop in scores. It's usually not too bad.

Current - FICO 3/2019: EX(753); EQ(763); TU(749)
Beginning - FICO 7/2014: EX(630); EQ(608); TU(581)
Credit: Wells Fargo Home Projects Charge Card ($7,800); Wells Fargo Home Rebate Visa ($4,000); Capital One Quicksilver ($10,000); Capital One Venture ($6,000); Discover it ($7,900); Macy's ($20,000); BrandsMart ($4,000); Banana Republic ($1,200); Lowes ($12,000); Amex Everyday ($30,000); Macy's Amex ($15,000); Amex Platinum (NPSL); Citi Diamond Preferred ($9,000); Chase Freedom ($9,000); Wells Fargo Outdoor Solutions ($10,000); SunTrust HELOC ($25,000)

Anonymous · ‎11-02-2014

My last app spree I app'd 10 new accounts. I didn't get any point drop from the HPs. My scores didn't change for two weeks until the new accounts began to post.

Anonymous · ‎11-02-2014

@Anonymous wrote:
@Anonymous wrote:
How much will my score drop if I apply for a card and a hp was done ?
My experience is 10pts for 1st INQ from 0 and about 2 pts afterwards for each

Yeah, that seemed to be what happened to me too. On TU and Exp score doesn't move much for an inquiry but on EQ I recently took my first HP in years and took a pretty decent hit. I think it was 7 or 8 points at least for the first one.