How long ago did your new installment loan account report?
@DaveInAZ wrote:
@Jnbmom wrote:
@bman86 wrote:I just had a hard inquiry post for EX which caused a 31pt drop in my FICO 8. Is this normal? I had probably 4-5 recent inquiries over the last 6mo from purchasing a new home etc.
I would check your reports line for line, you don't lose that many points for an inquiry. Something else has changed .
I dunno, Fico 8 should consider data from all 3 CRAs equally but there does seem like something is up with Experian. My EX Fico8 was 727, when I got a new BBVA credit card & inquiry in July it sunk to 710, been 710 or 711 ever since. This is from EX IdentityWorks service and confimed by my Amex monthy Fico8. Then in February when the new CC & inquiry became over 6 months old my EX Fico8 jumped to 739. All else has remained constant, utilization around 10%, no other new accounts or inquiries. And my TU Fico8 has remained constant around 731 during the same period. And I used to see a note "seeking new credit" in my EX report but that now has gone away. Again, Fico8 should consider all data equally but it just seems EX is somehow treating new credit/inquiries more harshly than other CRAs.
This is interesting. How many inquiries do you have on EX vs the other CRAs? Have any inquiries ages off in those 6 months? EX used to be my higher score, however the majority of my inquiries are on EX and as you can see, it is now my lowest score (by 7-14 points). My youngest account hit 6 months today and no points have been gained back on EX.
- EX - 754, 9 inquiries (2 scoreable)
- TU - 761, 8 inquiries (1 scoreable)
- EQ - 768, 3 inquiries (0 scoreable)
In December I had a single inquiry bring EX down 24 points
