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My scores on a rollercoaster ride

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Mdowning30
Established Contributor

My scores on a rollercoaster ride

This month applying for the Chase Sapphire Preferred and having that report over this last weekend, lost 4 points for the inquiry but hoping to gain more back, also had 2 re finance denials and 1 approval so altogether brough my scores down 10+ points on FICO but Vantage scores took a dump from 690 down to the 650s-640s. My Amex should be reporting by next week, second statement. Should i expect to equalize the point loss or come back with slightly higher scores than before ?

 

Oh and on top of those, i closed my Capital One secured card.

Chase Freedom Unlimited : $6000 | Discover It Chrome : $3500 | AmEx CS Investor : $6000 | Chase Sapphire Preferred : $5000 | Chase Amazon Prime : $2000 | AmEx Hilton Surpass : $1000 | AmEx Business Plus : $2000 | AmEx Platinum CS : POT $2800 | Tower Federal CU : $15,000 | Lowes Commercial Account : $1,000 | WF Bilt Mastercard : $4,000 | Shell Fleet Plus : $1,000
Total Credit Limit : $42500
Experian FICO 8 : 700
| TransUnion FICO 8 : 688 | Experian FICO 9 : 665
Starting Score: 512
Current Score: 700
Goal Score: 700+

Take the myFICO Fitness Challenge
4 REPLIES 4
TheKid2
Established Contributor

Re: My scores on a rollercoaster ride

What are you doing that you expect points to come back? Aging metrics,  new account flags, and hard pulls typically drag on a credit score for a long while. Until you get back your AAoA recovered, new accounts age, and your inquiries fall off I wouldn't expect that ANY score increases.

JOINED 4/2020


FICO 8 = 582, 620, 589 / Mortgage = 633, 526, 581


CURRENT PEAK *Thanks to the MF Community!


FICO 8 = 715, 711, 720 / Mortgage = 688, 696, 681

Message 2 of 5
GatorGuy
Valued Contributor

Re: My scores on a rollercoaster ride

If you are going to have a new card report, I'd expect a further score drop.

Message 3 of 5
SouthJamaica
Mega Contributor

Re: My scores on a rollercoaster ride


@Mdowning30 wrote:

This month applying for the Chase Sapphire Preferred and having that report over this last weekend, lost 4 points for the inquiry but hoping to gain more back, also had 2 re finance denials and 1 approval so altogether brough my scores down 10+ points on FICO but Vantage scores took a dump from 690 down to the 650s-640s. My Amex should be reporting by next week, second statement. Should i expect to equalize the point loss or come back with slightly higher scores than before ?

 

Oh and on top of those, i closed my Capital One secured card.


1. No comment on Vantage scores. They are volatile, and to my view, not significant.

 

2.  Your FICO scores are not on a roller coaster ride, unless you are on a very tame roller coaster.  Your FICO score moves are tiny.

 

3.  You can expect your FICO scores to dip further, as @TheKid2 and @GatorGuy have already predicted.  In 3 or 4 months, if you can go that long without applying for anything, you may get those points back.

 

 

 

 


Total revolving limits 650200 (530700 reporting) FICO 8: EQ 708 TU 714 EX 715

Message 4 of 5
Mdowning30
Established Contributor

Re: My scores on a rollercoaster ride

Well put...im just anxious to see what shows up by next week. Atleast i got my auto re finance out of the way which was the major financial loan i really wanted to change. Not worried about a mortgage anytime soon.

Chase Freedom Unlimited : $6000 | Discover It Chrome : $3500 | AmEx CS Investor : $6000 | Chase Sapphire Preferred : $5000 | Chase Amazon Prime : $2000 | AmEx Hilton Surpass : $1000 | AmEx Business Plus : $2000 | AmEx Platinum CS : POT $2800 | Tower Federal CU : $15,000 | Lowes Commercial Account : $1,000 | WF Bilt Mastercard : $4,000 | Shell Fleet Plus : $1,000
Total Credit Limit : $42500
Experian FICO 8 : 700
| TransUnion FICO 8 : 688 | Experian FICO 9 : 665
Starting Score: 512
Current Score: 700
Goal Score: 700+

Take the myFICO Fitness Challenge
Message 5 of 5
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