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Credit score drop when ccs get added to it?

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DerekD
New Contributor

Credit score drop when ccs get added to it?

So I'm using credit karma and my score was about 698.. I had 3 inquiries and then a few weeks later I had three other ccs appear on credit karma. My score then dropped 8 points? I didn't get any additional inquiries or anything added jus the accounts appeared. I thought if anything they would boost my score? Is this normal?
Message 1 of 4
3 REPLIES 3
user5387
Valued Contributor

Re: Credit score drop when ccs get added to it?

There are several things associated with new credit that cause a score to drop -- inquiries, new tradelines, and reduced AAoA.

 

Credit Karma is not necessarily a reliable indicator of the true cost of new accounts.

 

Message 2 of 4
Luscher
Valued Contributor

Re: Credit score drop when ccs get added to it?

Its temporary, your score should bounce back in about 6 months.

Do not look to CK for an accurate score. Only FICO scores matter.
CHASE FREEDOM | AMEX BCE | | BOFA REWARDS | CITI TYP | Quicksilver | DISCOVER IT | Sallie Mae | CHASE CSP
--------$32,000-------------$30,000-----------$30,000-----------$30,000-----$13,000---------$18,200----------$15,000---------$6,500----

FICO - TU: 780 EX: 784 EQ: 781
Message 3 of 4
gdale6
Moderator Emeritus

Re: Credit score drop when ccs get added to it?

Disregard CK it is a FAKO.

Message 4 of 4
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