FICO 8 Dropped when Discover TL was added?

[MugenCivicSi83]

My EQ score dropped from 704 to 701 when my new Discover TL was added to my reports. $0 balance/ $4,500 CL.

I am starting to wonder if it's because I already have Discover on my CR's from being added to my Wife's Discover IT as an AU. Her Discover IT is reporting a $0 balance / $1,000 CL.

Can anyone give their input?

For your reference is my other thread laying out all of my accounts and the details.

Living-in-Switzerland-with-American-Credit-Blog

[Gmood1]

This is normally the case when I add new accounts. The points will return in a couple of months. Your AAOA just took a small hit.. nothing to be concerned about.

[MugenCivicSi83]

DOH! I wasn't even thinking of AAoA! Good call!

[Anonymous]

Any new account general drops your score a couple points but it normally rebounds in a few months if you don't keep adding new accounts

[Revelate]

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@Anonymous wrote:
Any new account general drops your score a couple points but it normally rebounds in a few months if you don't keep adding new accounts

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For me I don't take a drop in score unless I cross an AAOA boundary or it reports a balance and it shifts my # of revolving tradelines with balance metric.

Then again I've never been clean for 2 years at a time which has been theorized as another reason for a drop (new account).

[AverageJoesCredit]

Haha, you hear that Mugen, NO MORE ACCOUNTS...LOL!!! JK but no seriously haha. Your good. Now lets get those sp clis on the Discovers !!!. First one to 10k buys first round on our Discover cruise to Japan!!

[Anonymous]

The few points you lost could very well be simply because of the addition of new credit (new account) and not because of an AAoA drop.  I added 3 new accounts from a mini spree back over the summer and my AAoA didn't drop at all in the eyes of FICO, but my score did drop a few points on each bureau.  The drop was because of the new accounts reporting and/or the inquiries, not because of any change to my AAoA.

[JLK93]

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@Revelate wrote:

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@Anonymous wrote:
Any new account general drops your score a couple points but it normally rebounds in a few months if you don't keep adding new accounts

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For me I don't take a drop in score unless I cross an AAOA boundary or it reports a balance and it shifts my # of revolving tradelines with balance metric.

Then again I've never been clean for 2 years at a time which has been theorized as another reason for a drop (new account).

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I would have to agree. I've never seen a new account cause a score drop without crossing a threshold.

Of course, AAoA is not the only threshold. Some profiles will experience a significant point increase when the youngest account ages to 1 year.

When my youngest account aged to 1 year, my EX08 Auto Enhanced score picked 19 points. My EX08 Bankcard Enhanced scored topped out at 900 and was therefor limited to a 10 point gain. Likewise, my EX08 Classic topped out a 850 and was limited to 9 points.

So, anyone who has a youngest account over 1 year will cross a threshold when a new account reports. The amount of point loss for crossing this threshold may be Scorecard dependent.

Crossing a youngest account threshold, as well as an AAoA threshold, could theoretically produce a greater point loss. However, I've never experienced that double whammy.

[SouthJamaica]

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@MugenCivicSi83 wrote:

My EQ score dropped from 704 to 701 when my new Discover TL was added to my reports. $0 balance/ $4,500 CL.

I am starting to wonder if it's because I already have Discover on my CR's from being added to my Wife's Discover IT as an AU. Her Discover IT is reporting a $0 balance / $1,000 CL.

Can anyone give their input?

For your reference is my other thread laying out all of my accounts and the details.

Living-in-Switzerland-with-American-Credit-Blog

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It's also possible that the added account and the score change are not causally related at all.

[MugenCivicSi83]

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@AverageJoesCredit wrote:
Haha, you hear that Mugen, NO MORE ACCOUNTS...LOL!!! JK but no seriously haha. Your good. Now lets get those sp clis on the Discovers !!!. First one to 10k buys first round on our Discover cruise to Japan!!

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LOL  no AJC, no more accounts. i'm gardening now for the next year