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41 Point Drop From One Inquiry

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41 Point Drop From One Inquiry

Hello, I know it's hard to believe, but this is what happened to me. Yesterday Experian told me that my score was 665. Tonight I was prequalified for Discover (which I have been trying to qualify for for almost a year...I couldn't even get the secured card before!) and I decided to pull the trigger. (I got the Discover Cash Back, Yay!) 

 

Directly afterwards, I recieved an email from Experian that there had been a change to my credit report. I logged in and it has gone down from 665 (yesterday) to 624 (tonight after applying to Discover.) 

 

The Discover card has not reported yet, and (right now until it does) my aaoa is seven years, seven months. I have three inquiries on my Experian report. One from Sept. 2018, one from Oct. 2018, and this one. 

 

Is this normal? I don't think so, but I'm not sure what's going on. 

 

 

Message 1 of 12
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Community Leader
Senior Contributor

Re: 41 Point Drop From One Inquiry

Get your reports from www.creditchecktotal.com or credit karma. Something else happened coincidentally with that inquiry that caused the score to drop.



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Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 2 of 12
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Contributor

Re: 41 Point Drop From One Inquiry

It is from creditchecktotal.com (which I believe is now owned by Experian.) And nothing else has changed. I got that email as soon as I was approved for the card. They are very quick to email me. Smiley Sad 

Message 3 of 12
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Contributor

Re: 41 Point Drop From One Inquiry

Are you certain it wasn't something else?

 

Something similar happened to me too, with Experian, my score just dropped 20 points, no inquiry, no new added account or anything.

 

When I clicked on the icon, asking "What happened?"  They simply told me that though my FICO score dropped, my credit rating wasn't affected.

 

What does that mean?

 

Anyway after two months it went back to nornmal, making me believe if it hadn't happened, that my score would be 20 points higher.

 

Experian is weird sometimes.

 

Their very own website told me I had a Experian FICO score was 37 points lower than my credit union showed me Experian was reporting to them when I applied for a loan.

Message 4 of 12
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Valued Contributor

Re: 41 Point Drop From One Inquiry

As mentioned above, something else changed.  A single inquiry wouldn't cause a 41 point drop.  Did you have any old accounts fall off your reports?  Something is different.

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Message 5 of 12
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Community Leader
Senior Contributor

Re: 41 Point Drop From One Inquiry

CCAlbert, it means that even though your score dropped, you stayed within the upper and lower boundary scores for the credit tier you were in (good, fair, excellent).

OP, go through your reports with a fine tooth comb. Unless you have a ton of inquiries, I can’t see any way this inquiry would smash your score for 41pts.



Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 6 of 12
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Contributor

Re: 41 Point Drop From One Inquiry

Maybe it's coincidental, but they email me every time there is any change, and this is the only change there has been. I don't get it either. I'm not overly upset because I'm not planning on apping for anything else, but I am kind of sad since I've been working so hard on my credit. I figured I'd get around a ten point drop and that it would bounce back over the next couple of months. Smiley Sad 

Message 7 of 12
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Community Leader
Super Contributor

Re: 41 Point Drop From One Inquiry


@mmmagique wrote:

Maybe it's coincidental, but they email me every time there is any change, and this is the only change there has been. I don't get it either. I'm not overly upset because I'm not planning on apping for anything else, but I am kind of sad since I've been working so hard on my credit. I figured I'd get around a ten point drop and that it would bounce back over the next couple of months. Smiley Sad 


If you're not going to be planning on any apps for the foreseable future I'd give it a few months to see if it will correct itself if you don't believe there are no changes in your reports to warrant that kind of drop.

Message 8 of 12
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Established Member

Re: 41 Point Drop From One Inquiry

The same thing happened to me last night. I applied for Chase Freedom and they pulled my Experian and Equifax. Experian dropped 1 point and my Equifax dropped 30 points. My Experian had 3 inquiries and Equifax had 2. NOTHING else happened and there are no changes to my report. I feel your pain....very fustrating.



Gardening all of 2020
Message 9 of 12
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Established Contributor

Re: 41 Point Drop From One Inquiry

Utilization change could have occured....not sure if that means you would be "notified" with a change.

Perhaps as overmedicated mentioned, older closed accounts have dropped off.

 

Or perhaps the rogue "bucket" could have been the score drop.

Heard it mentioned a few times when you cross into a new "bucket" and now you are in the lower end of that bucket.

 



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