Score dropped S#!%

[CREDIT4BIZ]

I went ahead and got the Amex last month checked my scores ex and tu both dropped 4 and 6 points. And the bad thing is my accounts haven't even showed up on my reports. Should I expect a bigger drop or some recovery?

[Anonymous]

If the Amex isn't on the reports yet, then the score drop had nothing to do with it.  4-6 point fluctuations are not uncommon, given that balances update all the time.

The drop on EX may have been from the Amex INQ.

[Anonymous]

I have experienced a small drop when the inquiry hits and another small drop when the new account posts. I expect that to be made up for as the account ages. All would be logical since FICO doesn't like seeing you go after credit and doesn't like you getting it but loves it when you manage it well.

[CREDIT4BIZ]

how long does it take to recover? estimate of course thanks

[Anonymous]

Check out this link for what happens to your FICO score when you get a new CC account:

http://www.allaboutthebenjamins.org/creditcards/page1.html

To sum it up, what you observed is rather typical.

[Anonymous]

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@CREDIT4BIZ wrote:
how long does it take to recover? estimate of course thanks

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I think (key word) that depends on the other horses in your barn. If you have a whole passel of other accounts that are 300 years old, the new account will not hurt for more than a heartbeat. If all you have is the new account and one other that you got last Friday, it will take longer to "age". On the average, I would think you would make up for the small loss in a matter of a few months, all other things being equal. Be aware, I am a newbie at this, I am just regurgitating what I have read. Don't take my word for anything. LOL

[Anonymous]

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TheNewWorldMan wrote:

To sum it up, what you observed is rather typical.

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OP said the new account is not even reporting yet, so that's not the cause of the score drop.

[Anonymous]

Unless they pulled INQ on both.

[Anonymous]

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contractor wrote:
Unless they pulled INQ on both.

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True, but that would be rare for Amex.  They are known to pull EX exclusively.

I have heard a couple of cases where they pulled TU instead of EX, but have never heard of them pulling both.

[Anonymous]

Then likely just random seismic activity. LOL. Things certainly do happen sometime for no explainable reason. First thing I learned here, don't beat yourself up over a few points. Like the weather, if you don't like it, it will soon change.