Think I just got rebucketed

joltdude · ‎04-25-2016

Added a Chase account recently... even with just purchasing enough to hit the spend on the chase... My score dropped from 749 t(pre Chase App) to 729. (today). (The Fico from LC) Have to change my siggy again....=/

Util wasnt affected...(it actually dropped some)

The account is already reporting...

Thought the 5400 CL would actually up my score.... due to utilization

What the heck happened?

-J

kjm79 · ‎04-25-2016

What did the new account do to your AAoA?

CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16

Revelate · ‎04-25-2016

No, something else changed. Neither AAOA nor utilization are bucketable.

Are you sure you're comparing the same score versions in this case? I didn't recognize the LC moniker?

joltdude · ‎04-25-2016

Lending Club uses a real Fico score...

AAoA did change.. I only had the CU card for two years when i apped for the Chase..

Still not sure what I did wrong.. No AA, no escalating debt, no lates...

Will it go back up slightly in a month or so after the first payment for chase posts?

Anonymous · ‎04-25-2016

Your only other card is the CU card? Are there any other accounts reporting? This may simply be the normal Fico reaction to adding another account to a thin file. Thin files tend to be far more volatile than older, thicker files.

Thomas_Thumb · ‎04-25-2016

@joltdude wrote:
Added a Chase account recently... even with just purchasing enough to hit the spend on the chase... My score dropped from 749 t(pre Chase App) to 729. (today). (The Fico from LC) Have to change my siggy again....=/

Util wasnt affected...(it actually dropped some)
The account is already reporting...
Thought the 5400 CL would actually up my score.... due to utilization

What the heck happened?

-J

Thin file new account reporting syndrome - IMO. I expect you will see a bounce back within 90 days

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950

joltdude · ‎04-26-2016

Theres actually a secured share loan reporting but thats been on there since last year

-J

Anonymous · ‎04-26-2016

@joltdude wrote:
Theres actually a secured share loan reporting but thats been on there since last year
-J

If you juat had this account and the one credit card before, than this is a normal drop and your score will climb back up.

joltdude · ‎04-26-2016

Im thinking it probably was a good idea I didnt partake in an app spree.....

Anonymous · ‎04-26-2016

+1 to what everyone else said.
Thin files should never app spree, correct.
However I don't think 2 should be considered a spree and would help thicken your file and aaoa. Not saying you def should app for anther card, but if your can but that bonus easy enough, maybe do go get anther card.