What kind of ding should I expect?

[Anonymous]

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@haulingthescoreup wrote:

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@Anonymous wrote:

... (though I might have to buy a guitar so HSBC doesn't close my Musician's Friend card).

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lol! Guitar junkie, huh?

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Very yes. I only have six right now. The most I've had at one time was ~15. I can't remember exactly. I've probably owned 75 guitars through the years.

Received my first ding, from the Discover inquiry. A massive FOUR points! So I'm back down to 747. Drat. Out of the 750's.

[ficonovice]

Woohoo, so far my prediction's looking good. I thought you'd take a 5-10 point hit when both inquiries hit your reports...

[Anonymous]

The drop in your scores are only temporary. When the new accounts start to age and the inquiries have been on your reports for 12 months, you will gain those points back and more.

[Anonymous]

Yeah, long term this will be better for me. Still waiting for AmEx inquiry to hit. That will make three inquiries on my account in six months. Harsh, but screw it. I definitely needed some better cards to work with.

[Anonymous]

Received both cards today. The activation process is annoying. Anyway, the inquiry for the AmEx still hasn't hit. Will return when it does...

[Anonymous]

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@Anonymous wrote:
Received both cards today. The activation process is annoying. Anyway, the inquiry for the AmEx still hasn't hit. Will return when it does...

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Please let us know as soon as it does hit...

...the pool is up to $0.37!   

[Jazzzy]

AmEx will hit Experian, won't it?

No way to know the score change.

[Anonymous]

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@LynetteM wrote:

AmEx will hit Experian, won't it?

No way to know the score change.

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Very good point! I didn't consider that. Shouldn't the extra inquiry also effect (affect...? I've NEVER understood that one) my EQ report, if not score?

[Anonymous]

Interesting note... opening a new account knocked me down four points, but just now I had a six-point drop... because my Best Buy card balance increased by $50 (put it at 30% util).

Shows how important, or rather unimportant, inquiries can be sometimes.