Experian FICO score has dropped by 44 points

[Paranoid]

My experian FICO score dropped today by 44 points. Is it possible to figure out the reason?

I opened two new credit cards in September 2018. My credit score was:

Aug 2018 -- 744 with the score details:
+ No Missed Payments;
+ Low Revolving Credit Usage;
+ Recent Credit Card Usage;
- Short Account History;
- No Loan Activity.
Sept 2018 -- 744 with the same details;
Oct 2018 -- 737 with the same details;
Nov 2018 -- 737 with the same details;
Dec 2018 -- 744 with the same details;
Jan 2019 -- 700 with the same details plus additional "minus":
- Seeking Credit

I made 6 inquries total in 2018 -- 4 in Jan-Feb 2018 and 2 in Sep 2018.

Is it possible that my credit score has dropped for 44 points just for that? Do they recalculate it because of the end of the year? Because my inquries were known in September, October, November, December before the score has dropped... Nothing changed from September till now after those 2 cards. Why did my score drop only in January?

Please help to figure it out.

[Anonymous]

Where are you getting your score?  List your credit limits with current utilization.

[GApeachy]

Also, do you have the same amt. of accts. in Dec 2018 compared to today?

[Paranoid]

In that case I take them from experian.com.

I have 6 open revolving accounts now:

1. $8000 limit with 4 % usage;

2. $400 with 0 %;

3. $4400 with 0 %;

4. $7000 with 6 %;

5. $6000 with 10 %;

6. $4000 with 1 %.

Total: 5 % utilization.

The oldest account is 3 years, the average age is 1 year 2 month, never missed payments.

[Paranoid]

>Also, do you have the same amt. of accts. in Dec 2018 compared to today?

Yes, as I said before, the last 2 credit cards were opened in Sep 2018. Nothing happened after that.

[dragontears]

There has to be a typo in your initial post..... if Jan 2018 is actually 2019 the scores you listed showed a 4 point change not a 44 point change.
A 4 point change could be from a small change in #of accounts with balances or minor utilization thresholds

[SouthJamaica]

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@Paranoid wrote:

My experian FICO score dropped today by 44 points. Is it possible to figure out the reason?

I opened two new credit cards in September 2018. My credit score was:

Aug 2018 -- 744 with the score details:
+ No Missed Payments;
+ Low Revolving Credit Usage;
+ Recent Credit Card Usage;
- Short Account History;
- No Loan Activity.
Sept 2018 -- 744 with the same details;
Oct 2018 -- 737 with the same details;
Nov 2018 -- 737 with the same details;
Dec 2018 -- 744 with the same details;
Jan 2018 -- 740 with the same details plus additional "minus":
- Seeking Credit

I made 6 inquries total in 2018 -- 4 in Jan-Feb 2018 and 2 in Sep 2018.

Is it possible that my credit score has dropped for 44 points just for that? Do they recalculate it because of the end of the year? Because my inquries were known in September, October, November, December before the score has dropped... Nothing changed from September till now after those 2 cards. Why did my score drop only in January?

Please help to figure it out.

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If it truly dropped 44 points today, you would need to compare yesterday's report with today's to find out why.

[Paranoid]

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@dragontears wrote:
There has to be a typo in your initial post..... if Jan 2018 is actually 2019 the scores you listed showed a 4 point change not a 44 point change.
A 4 point change could be from a small change in #of accounts with balances or minor utilization thresholds

---

Ohh, sorry, of course it was a typo. The right string is: "Jan 2019 -- 700". I've edited the initial post. It has really dropped by 44 points.

[GApeachy]

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@Paranoid wrote:

>Also, do you have the same amt. of accts. in Dec 2018 compared to today?

Yes, as I said before, the last 2 credit cards were opened in Sep 2018. Nothing happened after that.

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Okay, sorry if I misread....didn't know if the two cc were your only accts. or if you had others.  I just took a drop because my closed accts. went from 6 ageing down to 5 just today. (a 9point drop)

[Paranoid]

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@SouthJamaica wrote:

If it truly dropped 44 points today, you would need to compare yesterday's report with today's to find out why.

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How can I do that? The previous report is from Dec  29, and the score was 744.