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What the heck????

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Contributor

What the heck????

So i just received my new Discover card in the mail today......YAAY for the $6k limit! I also received a trigger on my Experian report that notified me that my score went down 30 points!!  Discover is reporting from April 1 and the new VW lease payment was made on the 21st and i had 2 other inquiries on the 19th....same day i was approved for Discover.  Was all of this worth me loosing 30 points??? My NFCU Flagship is no longer over the limit....statement closes on May 3rd, that should boost the scores. 

I have no lates......and my utilization went down....this just might be messing up my AMEX plan for mid-June.

10/15/19: EQ FICO 656 TU FICO 667 EX FICO 668
Goal:850
AMEX Delta Gold $1k| NFCU AMEX $1500|NFCU Platinum $7.5k| DISCOVER $6k| NFCU Flagship VISA $5k| NFCU LOC $13k| NORDSTROM $1,5k| VW lease $18.5k| NFCU auto $27k| NFCU Signature loan $7k|Student loans $42k
*Gardening until February 2020*
Message 1 of 3
2 REPLIES 2
Established Contributor

Re: What the heck????

The new account hitting your CR will decrease your AAoA and that coupled with the new HPs will decrease your score. My advice is to wait at least 3 whole months before applying got more credit, if you can wait 6 months that would be even better as the impact of those HPs will start to diminish. 

Message 2 of 3
Regular Contributor

Re: What the heck????

If it’s a new lease, the moment an installment loan hits your profile, you are gonna feel a slight drop sometimes. But I think 30 points isn’t anything to worry about. As long as you are paying on time, you are alright.

Depending on what AMEX you are trying to get, you will be fine IMO. I would just let everything report for a month or two and you might rebound by then.
Message 3 of 3
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