how many points are supposed to drop after you get a new credit card and an hp on your report?

[Christina_xyt]

so i had two more inquires on TU since last period. my score on discover statement was 726, but it only dropped 5 points this month (721)? ? O.o

[coldnmn]

If we only knew. It depends on inquires how thick your credit files, how many new cards AAoA utilization etc. Everyones milage will vary. 

[fot1]

I added 3 new trade lines with three inq's, had Two Inq hitt the year mark and my scores went up 20-30 points

[Dw4250]

YMMV. Good rule of thumb is -5pts for each new INQ and TL. But this is only a guess based on what others have reported.

The thicker your file, the less impact new TLs and INQ will matter. Also, the higher your score (ie >800), the bigger a hit you will take.

[mongstradamus]

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@Dw4250 wrote:
YMMV. Good rule of thumb is -5pts for each new INQ and TL. But this is only a guess based on what others have reported.

The thicker your file, the less impact new TLs and INQ will matter. Also, the higher your score (ie >800), the bigger a hit you will take.

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That is the consensus but some weird things happened this month for my eq 08 . I don't know if it was because my amex balance dropped from 10 to zero dollars , but the day my csp started reporting , my score went up 5 points. Doesn't really make any sense to me. 

[takeshi74]

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@Christina_xyt wrote:

how many points are supposed to drop after you get a new credit card and an hp on your report?

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Depends on your credit and the new account.  My scores have gone up and down with new accounts added.  The algorithms used don't simply deduct a fixed number of points.  As indicated above it's not just the HP but the impact to your AAoA (AmEx backdating can improve AAoA in some situations) and impact to your utilization as well.

[Anonymous]

I am wondering this as well. I currenly have 665 EQ, 661 TU and 645 EX. I recently got Barclay's Arrival Plus WEM and they pull TU. AAoA is 3 years. I have added 3 cards in the last 6 months, spread across. Am I looking at a 5 point drop or more because of the short AAoA? How can I grow this score? Current utilization is 18%. 24 years old. 3 derogs.

[takeshi74]

Again, difficult to say even with every detail since we don't know the details regarding every FICO model.  We can't say "X leads to a change of Y points".

If your score drops due to a drop in your AAoA the way to increase it is just a matter of time and letting your accounts age and building positive payment history.

However, if you have derogs then addressing the derogs (visit the Rebuilding subforum) can provide significant improvements.  Derogs will always be a major bottleneck.  Tackle the major factors first:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

AAoA is only 15%.  Payment History (which your derogs will kill) is 35%.

[toothgrind3r]

I just got a 1 point increase after an inquiry.  Go figure.

[Anonymous]

Ok, thank you. Yes I am working on derogs. One will come off in a month and I'm disputing the other two which are not mine.

Thank you!