Vantage 3.0 vs Fico Inquiry point differences

[Anonymous]

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@Anonymous wrote:

Well I spoke too soon and have to say I had a 17 pt drop off from 1 credit inqury on my Experian report, which is worse than Vantage. I have say getting 25% APR and a $2700 SL from Discover for this 17 pt drop is pretty much BS, its laughable that I took such a hit, and Im guessing Ill take another hit when the account shows up on my credit report, gotta love Fico. 

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Well this is weird my score went up by 2 pts? My 2 new accounts, CLI of $2k are not on my report and nothing has changed since I did the inquiry?

[KJinNC]

Things are changing all the time - for example, an account age may have crossed a threshold without anything calling your attention to it. Or, a balance may have gone down or up in some way that doesn't catch your attention but does matter for the formula. The formula does not change. The variables change and that leads to a different result. If you aren't aware of what variable changed, that does not mean it didn't change. FICO did not create the formula for members of the public to track it like we do on this board, and the exact formula is a trade secret.

I will add, though, in favor of VS, it has recently become clear to me that in my particular case (many new accounts and recent inquiries), my VS number in the low 600s coincides a lot more with the results I get when I apply for stuff than my high-600s FICO scores do. But I wouldn't get too carried away with that. My profile is pretty weird right now.

[Anonymous]

Well I am suprised that my US Bank Plat card is being reported already on EX and with that another 13 pt drop, overall a  28 to 30 pt drop for

1 new card 

[Anonymous]

6 pt drop as my Discover It card showed up on my credit profile for EX.  34 pt drop on EX only to add 2 new credit cards to my profile, I personally think this is too steep of a drop but whatever, going to add 1 more card to all 3 and garden from there. Cap1 CLI is still not showing, so I expect pts drop or up on how they count it as.  I am now wondering how the lenders would see me with these new cards and 0% being used but also 0 history on them? Happy 4th everyone  

[KJinNC]

I think it will be next year before lenders are seeing you in line with your FICO scores. That's just a guess, I could be wrong. Good luck!

[Anonymous]

No I think you are right, but I am wondering what they will think when I apply this month again for cards? I didnt want these accounts showing up until after, thinking they might see it as  as negative since I am seeking credit, dont want to get denied. 

[Anonymous]

Never bet against BrutalBodyShots when it comes to this stuff:

BrutalBodyShots, in a prior post in this thread: "Consider that 12 months from now if you don't apply for any more credit that your scores will likely be in the 820-830 range as the inquiry and new account penalty will be gone, your $2700 SL could very well grow to $10k+ and you could request and likely have that APR lowered by 5%+ by that time. No bubbles, no troubles."

[Anonymous]

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@Anonymous wrote:

Never bet against BrutalBodyShots when it comes to this stuff:

BrutalBodyShots, in a prior post in this thread: "Consider that 12 months from now if you don't apply for any more credit that your scores will likely be in the 820-830 range as the inquiry and new account penalty will be gone, your $2700 SL could very well grow to $10k+ and you could request and likely have that APR lowered by 5%+ by that time. No bubbles, no troubles."

That is not what I am worried about, with 2 accounts showing up on my credit report and scores dropping and so did my age of accounts...now it looks like I have 2 years of credit history vs the 4 before. I am going to be applying for 3 more cards in July and be done with it, so thats what I am wondering what lenders think of my report at this moment?

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[Anonymous]

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@Anonymous wrote:

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That is not what I am worried about, with 2 accounts showing up on my credit report and scores dropping and so did my age of accounts...now it looks like I have 2 years of credit history vs the 4 before. I am going to be applying for 3 more cards in July and be done with it, so thats what I am wondering what lenders think of my report at this moment?

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Credit history means how long you've had it.  That points to your AoOA, which does not change with the addition of new accounts.  AAoA can be reduced with the addition of new accounts, but not AoOA.  The only way AoOA can be reduced is if your oldest account is removed from your CR.