12 point drop - not sure why

[Anonymous]

So I've been watching my credit score in CCT and not much really changed until yesterday when I noticed a 12 point drop. I've checked all my accounts and nothing is late, I don't see any new inquiries and my utilization went from 6% to 10% because of my Prestige's annual fee and different reporting dates. I've only got 30k total in limits across 3 cards but I find it hard to believe that small of a change would drop my score 12 points.

To be honest, my score has tanked since my first application in June. According to MyFICO, my EX in June was 825 and now in CCT my EX is 746. I wasn't actually monitoring my credit before I signed up for CCT, so I don't know what my scores looked like before.

What's changed since June?

• 2 new credit cards
• Util: 14% -> 10% (14% was before my 2 new accounts)
• Total CL: 12k -> 30k
• Total accounts: 3 -> 5
• Inquiries: no change (both new CCs had reported the inquiries when I got my report in June, so 3 total)
• AAoA: 6 years -> 4 years

I'm not too worried about the drop, since I plan on gardening until Dec/Jan but I am slightly concerned in the almost 80 point drop since June and 12 point drop in a small utilization bump. I'm making the most of the 0% intro on the Freedom, so I imagine my scores could be slightly higher but it's not like I'm going crazy and living out of my means. Hoping someone can shed some slight on this one.

**EDIT**: I should also add that I noticed I no longer have any prescreened offers at Chase. I still have the same Amex ones but Chase use to at least give Slate and CSP but nothing. I want to say I noticed the APR for the Slate went up from Excellent tier (13.99%) to Good/Great (17.99%) when I checked last month after both cards reporting

[Anonymous]

The point drop could easily be accounted for by the 67% increase in the number of accounts you have reporting, and the associated drop in AAoA. Thin files are more easily impacted by the addition of inquiries and new accounts. That said, it'll recover just fine.

[Thomas_Thumb]

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@Anonymous wrote:

So I've been watching my credit score in CCT and not much really changed until yesterday when I noticed a 12 point drop. I've checked all my accounts and nothing is late, I don't see any new inquiries and my utilization went from 6% to 10% because of my Prestige's annual fee and different reporting dates. I've only got 30k total in limits across 3 cards but I find it hard to believe that small of a change would drop my score 12 points.

To be honest, my score has tanked since my first application in June. According to MyFICO, my EX in June was 825 and now in CCT my EX is 746. I wasn't actually monitoring my credit before I signed up for CCT, so I don't know what my scores looked like before.

What's changed since June?

• 2 new credit cards
• Util: 14% -> 10% (14% was before my 2 new accounts)
• Total CL: 12k -> 30k
• Total accounts: 3 -> 5
• Inquiries: no change (both new CCs had reported the inquiries when I got my report in June, so 3 total)
• AAoA: 6 years -> 4 years

I'm not too worried about the drop, since I plan on gardening until Dec/Jan but I am slightly concerned in the almost 80 point drop since June and 12 point drop in a small utilization bump. I'm making the most of the 0% intro on the Freedom, so I imagine my scores could be slightly higher but it's not like I'm going crazy and living out of my means. Hoping someone can shed some slight on this one.

**EDIT**: I should also add that I noticed I no longer have any prescreened offers at Chase. I still have the same Amex ones but Chase use to at least give Slate and CSP but nothing. I want to say I noticed the APR for the Slate went up from Excellent tier (13.99%) to Good/Great (17.99%) when I checked last month after both cards reporting

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The most recent 12 point drop probably relates to an increase in the # cards reporting a balance - not a change in UT%. Of course, you have not said how many cards are reporting now vs before - so I am hypothesizing on this. A majority of the 80 point drop is likely both inquiry and age of account related - IMO . If that is true, you have at least 12 months to wait before regaining those points. Could potentially take 24 months to regain 825 if  AAoA of 6 years is a threshold.

Good Luck.

P.S. A Fico 850 profile "iv" dropped from 850 to ??? when three new accounts were opened. Iv's scores, as reported in the siggy are in the 820s a year after opening the new accounts.This suggests you can get into the 820s with youngest account only being 1 year age.. However, iv's AAoA may have remained above 6 years even with the new accounts.

[Anonymous]

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@Anonymous wrote:

The point drop could easily be accounted for by the 67% increase in the number of accounts you have reporting, and the associated drop in AAoA. Thin files are more easily impacted by the addition of inquiries and new accounts. That said, it'll recover just fine.

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I figured thin credit would be the main factor, but I wanted to be sure. Is 5-6 months since my last approval enough time for some of this to age away? I was thinking of doing the CSP, NFCU membership and maybe one more no annual fee card around Jan and probably call it quits for awhile. Not a hard date by any means just curious.

[Anonymous]

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@Thomas_Thumb wrote:

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@Anonymous wrote:

So I've been watching my credit score in CCT and not much really changed until yesterday when I noticed a 12 point drop. I've checked all my accounts and nothing is late, I don't see any new inquiries and my utilization went from 6% to 10% because of my Prestige's annual fee and different reporting dates. I've only got 30k total in limits across 3 cards but I find it hard to believe that small of a change would drop my score 12 points.

To be honest, my score has tanked since my first application in June. According to MyFICO, my EX in June was 825 and now in CCT my EX is 746. I wasn't actually monitoring my credit before I signed up for CCT, so I don't know what my scores looked like before.

What's changed since June?

• 2 new credit cards
• Util: 14% -> 10% (14% was before my 2 new accounts)
• Total CL: 12k -> 30k
• Total accounts: 3 -> 5
• Inquiries: no change (both new CCs had reported the inquiries when I got my report in June, so 3 total)
• AAoA: 6 years -> 4 years

I'm not too worried about the drop, since I plan on gardening until Dec/Jan but I am slightly concerned in the almost 80 point drop since June and 12 point drop in a small utilization bump. I'm making the most of the 0% intro on the Freedom, so I imagine my scores could be slightly higher but it's not like I'm going crazy and living out of my means. Hoping someone can shed some slight on this one.

**EDIT**: I should also add that I noticed I no longer have any prescreened offers at Chase. I still have the same Amex ones but Chase use to at least give Slate and CSP but nothing. I want to say I noticed the APR for the Slate went up from Excellent tier (13.99%) to Good/Great (17.99%) when I checked last month after both cards reporting

---

The most recent 12 point drop probably relates to an increase in the # cards reporting a balance - not a change in UT%. Of course, you have not said how many cards are reporting now vs before - so I am hypothesizing on this. A majority of the 80 point drop is likely both inquiry and age of account related - IMO . If that is true, you have at least 12 months to wait before regaining those points. Could potentially take 24 months to regain 825 if  AAoA of 6 years is a threshold.

Good Luck.

P.S. A Fico 850 profile "iv" dropped from 850 to ??? when three new accounts were opened. Iv's scores, as reported in the siggy are in the 820s a year after opening the new accounts.This suggests you can get into the 820s with youngest account only being 1 year age.. However, iv's AAoA may have remained above 6 years even with the new accounts.

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Cards reporting a balance in June: 1

Cards reporting a balance now: 3 (this will likely be 1 in by the time my Oct statements cut)

Well I guess that's the way the cookie crumbles. As stated above, I may do one last hoorah in a few months then call it quits

[Thomas_Thumb]

I can't confirm a 6 month age threshold. Some people say you get a partial break on impact associated with inquiries at 6 months. I know impact drops off at 12 months and that is all I can state with certainty. You may get a boost when your youngest account reaches 12 months age. However, the 12 month age is usually tied to an inquiry so impact of 12 month youngest card age is hard to isolate.

I am fairly certain there is a a threshold at 2 years for youngest account but I have not personally isolated that factor.

An AAoA of 4 years is likely an inhibiting factor for an +800 score. I don't recall seeing anyone post a score over 800 with a reported AAoA that low. If someone has done that, please respond with data.

[ddemari]

OP- i learned not to worry about a score less of under 20 points unless I am applying for something big the next day. You will get the points back sooner than later. 

[iv]

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@Thomas_Thumb wrote:

P.S. A Fico 850 profile "iv" dropped from 850 to ??? when three new accounts were opened. Iv's scores, as reported in the siggy are in the 820s a year after opening the new accounts.This suggests you can get into the 820s with youngest account only being 1 year age.. However, iv's AAoA may have remained above 6 years even with the new accounts.

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Dropped to 847/841/837 after the first account (HELOC), and 833/838/837 after the second (conv mortgage).

The 821/823/825 is partially from carrying >10% revolving utilization (on the third - a 0% card, of course...)

AAoA stayed above 8 years, though.