New accounts already reporting

[Anonymous]

My new Walmart and Old Navy accounts are already reporting even though I havnt even gotten the cards yet.  I lost 6 points with Equifax and 24 with Experian. It looks like I'm gardening for awhile.  Dont think I'm going to have a choice, lol.

[OmarGB9]

Ouch major hit on EX. Gardening is definitely a good idea lol.

[Anonymous]

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@Anonymous wrote:

My new Walmart and Old Navy accounts are already reporting even though I havnt even gotten the cards yet.  I lost 6 points with Equifax and 24 with Experian. It looks like I'm gardening for awhile.  Dont think I'm going to have a choice, lol.

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Wow, that was fast!

[OmarGB9]

My venture still hasn't reported and I applied over 2 weeks ago. I'm guessing it'll take about a month to show up.

[Anonymous]

My capital ones didn't report until after my 2nd statement. I'm not sure why Experian took such a hit. Maybe it's the 2 new accounts combined with the 3 inquiries (also applied for amazon but was denied). I finally got experian over 600 and now I'm back at 577. I could cry but I won't. I'll just hope they rebound fairly quickly.

[Anonymous]

I often wonder why it takes some cards so long. Barclay was immediate. Capital One took a billing cycle. PenFed still hasn't reported. So sorry about the credit drop. I am waiting for new accounts to post and the hit that follows. I noticed that the bureaus with no derogs take the smallest hit. 

Good utilization should bring your scores up. 

[Anonymous]

My Experian score was 601 and lost 24 points while Equifax only lost 6 points for the same 2 accounts. It can't be inquiries that did it because I'm pretty sure they pulled TU. So I was thinking the highest score takes the biggest hit. At least in my case it did. I also noticed that my cap one card that had a zero balance last month just reported 287$ so I'm sure that didn't help. It will report zero again next time.

[OmarGB9]

Just remember that FICO has no memory, so your scores can fluctuate month to month and any high balances/low scores will be forgotten the following month.

[Anonymous]

Yes just hang tight. Let the accounts age for 3-4 months and work on clearing as many negatives as possible.

[Anonymous]

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@Anonymous wrote:
My Experian score was 601 and lost 24 points while Equifax only lost 6 points for the same 2 accounts. It can't be inquiries that did it because I'm pretty sure they pulled TU. So I was thinking the highest score takes the biggest hit. At least in my case it did. I also noticed that my cap one card that had a zero balance last month just reported 287$ so I'm sure that didn't help. It will report zero again next time.

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Make sure that you NEVER charge on your cards right before the due date and not until 1 day after the statement closing date. Have your balance at no more than 5-10% of your limit before the due date.

With these small limits you basically can only use these cards as cash cards and NEVER have more than a balance of 5-10% of your limits that you let report to the bureaus. Don't leave them at 0.That will give you the highest possible scores.