@Anonymous wrote:Hello! My husband's score has decreased by 22 points in Experian. We don't understand why this happened. He had applied for his last credit card in February 2. And his score decreased by 25points. And now again. Why? I have no idea.
P.s. He has just 3 credit card: Bank of America, Discover It and American Express Blue Cash. His utilization is 1%. He doesn't have any late payments. I don't understand what's happening.
If someone has any idea let me know, please
If on a clean score card, possible score loss from:
Inquiry.
Reset of AoYA from greater than 12 months to zero months.
New account penalty.
Give it time to recoup the points back if no derogatory. It may be in 3 or 6 months or longer.
Are you getting the scores directly from Experian.com?
Is that FICO 8 score?
Have you compared in detail the before and after?
Is your individual utilization % the same?
Has there been a change in AAoA Average Age of Accounts?
Has there been a change in AoYA Age of Youngest Account? You mentioned Feb 2. Has that new account appeared on the credit reports?
Has there been a change in AoOA Age of Oldest Account?
Is there any deragatory on the report?
@Anonymous Welcome to myFICO.
Amex often reports a new account 2 months later.
One that I opened up in February finally hit last week, and drop of 24 points and that's on a much more developed file. In your husbands case with a small and probably short file that scorecard appears to react more strongly to some changes like inquiries / new credit. It's just a phase but I suspect what you'll find if you compare before and after is the Amex account finally reported.
