One Store Card Inquiry...wonder how many points that will cost me?

[daisyduke]

Just applied for Nordstrom - they only pull EQ - i have Zero inks on EQ....how many points do you think I'm going to lose? 2? 5? i .i need more credit for a healthy mix and the timing is just right as I think I have calculated my AAoA correctly, adding one account this month and a new car in December brings me down to 6.5 years instead of 7.5 right now...

the strategy by getting a store card with Nordstrom was probably a good idea - here's the reason - if you are a good customer, they have known to upgrade retail cards to the Visa card...i've read that folks get CLI's often as well. so I could be actually going somewhere with this store card...

[RobertEG]

Max of 5-10 pts, but this will drop to zero after one year.  Not a biggie. If yuu are aware of the AAoA impact, it was most likely a good move for more credit mix and increased % util,   Just make sure that Nordstrom will be doing monthly reporting if you did this for credit building.

[daisyduke]

Thanks RobertEG....I am hoping not ten points as I am only at 661 on EQ ...need to get a car in Dec....so no more applying until after the car...but EQ should be adding BOFA AU account with a 7K credit limit and it's old card i think 97 or 98 so that will bring back and age and also help my utilization which is at 62%, bring it down to around 20%....i think too much.

I applied for a Visa but they did not pull EQ, but when the card reported I gained four points...then when I maxed it out, i gained one point. then I paid it off...then i used it...then i paid off ....

[daisyduke]

RobertEG, I did get this card for "re building"....I had to think about where I need to go - at least with the retail store card (complete ripoff interest rates, never been big on em anyway) you can be eligible to get a Visa...I read a post from new world man and he suggested infiltrating good with bad...I only have a lease and one visa open TL's....and four bad accounts and 11 good accounts including two paid off mortgages (a second one) and lots of other good visas/store cards paid off but closed...

[haulingthescoreup]

Generally EQ gives you one freebie inq --no ding for the first within 12 months. If you get a second, you'd probably lose points. The amount varies by the age of your credit, score bucket, etc.

You will get a ding for the new account, unless you only have 1 or 2 open revolving accounts. The scoring formula "likes" to see three open revolving accounts, so you're rewarded if you have fewer.

[daisyduke]

Thanks Hauling..i see...for EQ only shows one open visa and an auto lease. two open TL's - others are closed....

[daisyduke]

Just an fyi - i just got my SW alert and my score INCREASED by 4 points on the same day that the INQ was reported... no balance changes, etc. I'm pretty sure you don't get an increase for apping....but balances are the same....

Hauling said EQ will give you a freebie one x a year without any impact on your score....

[Anonymous]

Sometimes SW needs a kick in the pants to trigger the report, the score change could have occurred a while ago due to something totally unrelated. View SW reasons with a cautious eye.

[daisyduke]

credit - it was probably due to age. i got one month older and now six months from last late payment.

balances and all that other stuff are identical. i'm only older. the only t ime in my life i want to be old is with my credit report.