This just seems WEIRD

[LexieCat]

OK, first off, I am not stressing out about this--I still have great scores and I know they'll go back up shortly.  But I just can't figure this out.  I recently opened a CSP account, with a $32k credit limit.  I've been paying down over $2k/month on my zero-percent interest rate balances and they should all be paid off within about five months or so.  

My new card apparently just reported, and even though my total balance for all my cards temporarily went up (to the tune of 2-3,000), since my new card has a $32k CL, my overall utilization is lower.  I'm not shocked to see that with a new balance on a new card my scores dropped slightly.  My TU wnt down five points and my EX went down four.  No biggie.  But my EQ went down SIXTEEN points.  Nothing else has changed.  And my new balance on my new card is only a couple thousand (this is a card I will be paying in full each month.

I know the credit bureaus do not treat everything exactly the same way, but any thoughts on why the one agency had such a big drop?

[NRB525]

When was the last EQ score update prior to this? What has happened with balances and your file since then?

One possibility is, with scores near 800 and a new account showing up, EQ might see that as an increased risk. Having 0% purchase cards implies there were some other apps not too long ago, creating new cards on your account? How many new cards in the last 6 months?

[LexieCat]

OK, now TU just took a 14-point hit.  I've opened no other cards in the past 8 months, no other accounts period, for that matter.  The zero-percent balances are from balance transfers months ago.  My total balances went up maybe 2-3,000 temporarily, because I now have two rewards card and I switched to using the new one to make the spend for the bonus points.  OTOH, my available credit went up $32k.  

I don't see anything that should indicate increased risk.  As I said, I'm sure they will be back up within a couple of months, but I just can't figure out the reason for the big ding.

[NRB525]

It's most likely the one new account showing up.

Yes, it's a new risk "Applying for new credit" is a risk factor.

I've been getting new cards regularly over the last 18 months, and while I don't see a large hit for each card, that's only because my scores are already beaten down a bit from all the new cards.

In FICO scoring, the "first of kind" is always the biggest impact. First card in a long time, first 30 day late, first app HP in a long time. As those of the same kind keep getting added, then the impact is less. If you added another new account now, the impact from that second new card would be a lot less. For those with a 30 day late, the first is a massive hit, the second 30 day late, not so much.

[LexieCat]

Thanks--I figured I got a ding for the inquiry (just affer the app), then I got another small one, and then this big one.  

Man, I loved those 800 scores across the board while I had them. They'll be back, I just got rather fond of that dark green.