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84: Number of inquiries was also a factor, but effect was not significant.
If a lender runs a credit check when you apply for credit, an inquiry is reported to the credit bureaus. This can lower your score a small amount, in this case the drop was not significant. The VantageScore credit score model takes rate shopping, e.g., for a mortgage or car loan, into consideration. All inquiries for mortgages, auto loans and major credit cards that appear in your credit file within a 14-day window are interpreted as a single inquiry. Another time inquiries never count against your score is when you check your own credit or obtain your own credit score.
What you can do:
Apply for credit only when you need it. If you are approved for credit, the small score drop from making an inquiry will disappear within a short time and the score will quickly benefit if you make on-time payments and manage your new account in a responsible fashion.
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