This is just a curiosity question: I recently applied for and was approved for a Citi Platinum dividend card with a credit limit of $3400. The only inquiry from Citi was on my Equifax report, and it did not affect my score. The tradeline has already appeared on Experian (man they are fast, I haven't received the card yet) but it doesn't appear on any other reports. I had just paid to check my Experian FAKO score right before this new card appeared, and it was 701. My question now is how do you all think this new revolving tradeline will affect my score? This should definitely help my utilization ratio since it is an additional $3400 in revolving credit with a zero balance. I don't think it should hurt the score, but who knows. I don't want to pay again to get the updated score from Experian, but I am very curious what kind of bump, if any, I got.
Hard to say. Individual results may vary. I lost one point on EXP. FAKO when two new accounts hit my report and one reported closed for the first time all in the space of a week.
confused ?? "The only inquiry from Citi was on my Equifax report, and it did not affect my score." You indicated the tradeline was showing on your experian report as well. So if this is the case I would assume that Equifax was NOT the only inquiry as stated. Is this a correct assumption ? I ask becasue I received a card offer from them and my experian is better than equifax and I want to get an idea on which report they pull. thanks
The inquiry was only on my Equifax report. That is who Citi pulled. They did not pull Experian or Transunion. The tradeline only shows up on Experian at this point though. Not Equifax or Transunion. Go figure. I don't have many inquiries on Equifax, so the inquiry from Citi didn't have an effect on the score. I'm thinking that the decrease in utilization % due to the increase in credit available will help my scores. I guess I may just have to fork over the cash again to find out.
Newly opened revolving accts can affect your score negatively. I think you'll find that any increase you may have had due to the lower utilization % will be offset by the fact that it is a new acct. In a few months time, any negative affect should be gone.
Well, LKH was right. I went ahead and got the new score and my score dropped 22 points to 679. Man the scoring system sucks. Hopefully it will bounce back again soon.
My new accounts always show up on Experian first, then Transunion, then finally Equifax... Don't know why, but that's how it always works.
