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Approved credit card but big drop in score?

fwm
New Member
New Member

Approved credit card but big drop in score?

Hello, 

 

Been building my credit over the last year or so. All accounts are in good standing an no missed payments. Applied for Amex two months ago and still followed routine on utilization/purchases etc. Just saw my credit dropped 42 points? I read hard inquiries should only make a few points ding from your report, but 42?

Message 1 of 7
6 REPLIES 6
AllZero
Mega Contributor

Re: Approved credit card but big drop in score?

@fwm  What CMS Credit Monitoring Service are you using?

 

Do you have any derogatory or delinquency on your credit report?

Message 2 of 7
Birdman7
Super Contributor

Re: Approved credit card but big drop in score?

The inquiry did not cause the 42 point drop. You’ll have to supply a lot more information for us to determine what might have.
Message 3 of 7
fwm
New Member
New Member

Re: Approved credit card but big drop in score?

i'm using all three CMS

Message 4 of 7
OmarGB9
Community Leader
Super Contributor

Re: Approved credit card but big drop in score?

Yea a simple inquiry wouldn't cost you 42 points. Please list all accounts, limits, balances, any negatives, etc.


Last App: 05/30/2021
Capital One Auto Refinance Loan

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 5 of 7
Trudy
Valued Contributor

Re: Approved credit card but big drop in score?


@fwm wrote:

i'm using all three CMS


Credit Monitoring Service (CMS).  That would be Credit Karma, WalletHub, Credit Sesame, FICO, etc.  Are these FICO scores or Vantage scores?  The 1st 3 I noted provide Vantage scores whereas FICO provides FICO scores.  I agree, an inquiry would not cause a 42 pt drop to FICO scores.

FICO - 8: 09/09/21 AU 8 BC 8
FICO - 9: 09/09/21 AU 9 BC 9
F5,F4,F2 09/09/21 AU... BC...
Vantage 09/09/21
As of 09/01/21:
AoOA - 25Y6M | AoYA – 0Y10M | AAoA – 12Y4M
Open: 11 CC: (1 reporting 2.84% : 0.25% AGG UTL) | 1 PLOC | 1 MTG loan: 46.89% UTL
Closed: 1 MTG loan | 2 Auto loans | (EQ) 2 CC, (EX & TU) 1 CC
INQ: (EQ) 0/24 | (TU) 1/24 | (EX) 1/24
Message 6 of 7
dunn2500
Frequent Contributor

Re: Approved credit card but big drop in score?

i got nailed 70 pts on approval but it shot up like a cannon in a month....got 70 back and another 30-50

Message 7 of 7
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