fico question!

[bubbles0605]

My brother asked me to post this question:

His fico dropped 20 points all of a sudden. No lates payments, he has a cc that had a 1300 bal. but paid 1100 of that a couple of weeks ago. Opened a new khol; card but that was literally just the other day. Would it show up that quick and would it drop you a whole 20 points?

He is getting frustrated b/c he is paying more than minumum due always and his score seems to go down every month.

Any thoughts as to why this could be?

TIA

[llecs]

Assuming nothing else is happening to his CRs, a new TL can easily drop a FICO score that much. I have lost an average of 20-25 points with a new TL reportting.

He could always search around here for Kohl's reporting, so as to see if it reports that quick.

[marty56]

An INQ sunk my EQ score 15 points which took a year to recover.  It was the 2nd INQ I had on my EQ report.  Interesting enough a 3rd one did nothing.

[Lel]

A new inquiry shows up pretty instantaneously, at least it does for me.  I would imagine that a new credit card would show up pretty quickly too.