How fast for score to recover?

[Anonymous]

I had a 730 two weeks ago, but, bought a used car and apparently the inquiries hit my credit hard. The only thing that has changed are those inquiries, the addition of a car loan, and $20 more dollars of balance on one credit card and my score has dropped to a 676,

I paid off the card as it was a low balance/low limit card. I guess all I can do now is wait for it to gradually go back up?

I got my score here, so not a fako score..  How long do you think it will take for my score to go back over 700?

[pizzadude]

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@Anonymous wrote:

I had a 730 two weeks ago, but, bought a used car and apparently the inquiries hit my credit hard. The only thing that has changed are those inquiries, the addition of a car loan, and $20 more dollars of balance on one credit card and my score has dropped to a 676,

I paid off the card as it was a low balance/low limit card. I guess all I can do now is wait for it to gradually go back up?

I got my score here, so not a fako score..  How long do you think it will take for my score to go back over 700?

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It's very hard to predict how much your scores will increase over the next few months ~ I would assume that the new auto loan lowered your Average Age of Accounts ( AAoA ) somewhat.    How many inquiries are showing on your report ?  If they are all coded as AUTO then they should only be scored as a single inquiry.

Also what was the limit on the card that reported the balance and how much did it increase your overall utilization ?

[RW771]

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@pizzadude wrote:

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@Anonymous wrote:

I had a 730 two weeks ago, but, bought a used car and apparently the inquiries hit my credit hard. The only thing that has changed are those inquiries, the addition of a car loan, and $20 more dollars of balance on one credit card and my score has dropped to a 676,

I paid off the card as it was a low balance/low limit card. I guess all I can do now is wait for it to gradually go back up?

I got my score here, so not a fako score..  How long do you think it will take for my score to go back over 700?

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It's very hard to predict how much your scores will increase over the next few months ~ I would assume that the new auto loan lowered your Average Age of Accounts ( AAoA ) somewhat.    How many inquiries are showing on your report ?  If they are all coded as AUTO then they should only be scored as a single inquiry.

Also what was the limit on the card that reported the balance and how much did it increase your overall utilization ?

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How can you tell if an inquiry was coded a certain way?? The reason I'm asking is I just bought a house back in December and first had my credit pulled in October (for approval) and then they pulled it again in November, just before I closed, and it shows up as 2 separate entries on both my TU and EQ Fico reports, but are not coded any certain way. I worry that they look like 2 separate inquiries, even though they were both through the same lender just a month apart. Any ideas?

[pizzadude]

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@RW771 wrote:

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How can you tell if an inquiry was coded a certain way?? The reason I'm asking is I just bought a house back in December and first had my credit pulled in October (for approval) and then they pulled it again in November, just before I closed, and it shows up as 2 separate entries on both my TU and EQ Fico reports, but are not coded any certain way. I worry that they look like 2 separate inquiries, even though they were both through the same lender just a month apart. Any ideas?

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I believe that it is based on either the inquiry type or the comments field ~ however I don't think that these show on all reports.    I'll have to check on this.....