App-o-Rama - First Credit Score Hit

Applying for 24 credit cards at one time will definitely impact your credit score. I signed up for TrueCredit (and a couple others) to monitor my credit. A future post will discuss the different credit monitoring services, but for now lets get back to the credit score itself.

Before starting my App-o-Rama, TrueCredit reported my FAKO credit scores and the number of credit inquiries from the three credit bureaus as:

Not the best, but not too bad.

The day after my App-o-Rama the credit bureaus showed 22 new hard inquiries on my credit report, half of them on Equifax. If I had to make a guess, it appears that each credit inquiry dropped the credit score about 2 points.

3 days later, after all the dust has settled, it appears there were a total of 26 hard inquires on my credit.

Here is the list of ‘hits’ on my credit report. StateFarm takes the lead for running 3 credit reports for 1 card, a 3:1 ratio. Citi is next with 9:4 ratio. Some I can’t match up to the card.

I will update this if any late hits show up. Also, as the balance transfers get posted to my account I am sure there will be another hit to my credit score but that is another post for another day.