Double ding for new CSP?

[icegeek]

Just got approved for CSP and got a 3pt hit for the inquiry and then a 5pt hit for the account. Is this normal?

[Skye12329]

Yeah but you will get the points back in time.

[chalupaman]

---

@gonzoflick wrote:
Just got approved for CSP and got a 3pt hit for the inquiry and then a 5pt hit for the account. Is this normal?

---

Depends on the credit profile, bureau, and other factors. My EQ always tends to be the most sensitive to score changes because of inquiries while TU and EX don't change much even when hit with a lot of INQs.

[Anonymous]

That's not much . Don't worry about +/- 10 points .

[Anonymous]

Yep-- same just happened to me.

[longtimelurker]

This is absolutely standard.    When you get a new card, there are up to three impacts:

1) The inquiry.   This is likely to reduce the score a little.  Avoided with Shopping Cart Trick and some cards like NASA, but is usual on new cards

2) New account, reducing the AAoA, and thus score.   Avoided with backdating, which might now have stopped

3) Increased total credit:   This will decrease utilization (if you have any balances) INCREASING the score a little.

The impact of each varies on your credit report.  If you have lots and lots of inquiries, a new one may make no difference.  If you have none, the first can have a lot of impact.  Similarly, with thick old files, a new account won't really register, with a thinner one a brand new account can dramtically shorten the AAoA.

So the net impact of these three things can be small or large, and positive or negative (if utilization reduces greatly, your score can go up).

Inquiries age off over a year for score purposes