What the heck is going on😢

[Anonymous]

In June of this year I started building my credit, it seemed like a lot of easy changes after joining the forums cause I didn't abuse my credit just ignored it. I called requested pfds for accounts that were paid long ago and paid off some cards. Went from 589 to 670-688 end of last month. I recently increased limits on cards and opened two new Amex cards none of which posted yet. No I'm back in the 630's 😢 is this a normal fluctuation? & will it go back up? There isn't anything new on my report except 2 inquiries and 1 closed account. This is what I did:

Walmart- 750 to 3500
Lowes- 500 to 6000
Capital one- combined limits and closed one leaving one at 1250
Amex BCE-3500
Amex everyday-1000
(None of these changes have reported)
HELPPPP 😢

[takeshi74]

Impossible to say for certain.  It isn't just a matter of the inquiries but your entire credit profile.  To determine the cause(s) of any scoring change you have to carefully review reports from before and after the change.

One possibility that the closed account reported but the account that the available credit was transferred to has not reported the change in CL, impacting your revolving utilization.  Again, you need to carefully review to verify.

[OmarGB9]

Could also be your new accounts, as new inquiries and new accounts ding score unless you have a very thick profile.

[Anonymous]

That's what worries me, since they haven't posted to my credit yet are you saying it went down 40 points for two inquiries? And it'll go down again when the new cards show up

[OmarGB9]

The point drop could be due to a multitude of factors, not necessarily one thing alone. Hard to say. Regardless, I'm sure your scores will recover provided you keep up good payment habits and whatnot.

[kdm31091]

There are many factors that go into scoring, and really, although the details are released publicly, only the people calculating the scores know 100% of what goes into it.

I would say you will take a small hit when the new accounts report, but you said that hasn't happened yet. It could be the inquiries though

[Anonymous]

lets not forget that somtimes myfico FREAKS OUT and knocks your score down 40-50 points, only for it to go back up 25-30 points in a week or two.

Double check your utilization and what not. With those new limits, once they report, you should see your score pop right back up. People always harp on inquiries and AAoA but they are the smallest parts of the score, and the easiest to recover from with more time. Continued payments and utilization with no derogs are the biggest goals, the rest just figures itself out with patience.

[Anonymous]

Could you say the same about credit check total?

[Anonymous]

OP, where are your scores coming from, myfico? Have you checked on Amex etc?

Scores get like that somtimes. It sucks. Then you will be paying things down and bam, no change, wont budge. Then all the sudden presto chango.

[NichelleN]

I'm not sure how myFICO could be a factor when they are just reporting the Fico 8 scores generated  by the CRA's.

When I applied for new cards in May, my scores dropped due to the inquiries and reduction of the average age of accounts. They have since rebounded and increased by quite a bit. Since your new cards have not reported, I truly don't have a suggestion other than the inquiries. Sometimes, to me, the fluctuations are a mystery. Two weeks ago, my scores across all 3 of the bureaus went up by 30 points or more. I was thrilled but can't specifically tell you what caused the increase. All of my new accounts were just passing the 2 month mark. And more time has passed since the late payment on a loan. Maybe that was it. Not sure.