New Account On Credit Report Score Drops

[Anonymous]

I recently just applied for new credit so i'm sure i have a bunch of new inquiries an a new acount just posted to my credit report with First Premiere my score went from 625 to 617. I'm sure with time an on time payments my score will go back up.

[GFer]

Oh, that scares me, as I recently applied several times (got approved for 3 new accounts). Between the inquiries and the average age falling (more like slamming!)...think I may be in trouble for awhile!

[Anonymous]

Yeah i think i'm in trouble also but i'm in it for the long run. I wish i knew 10 years ago what i know now about credit an how important it is.

[GFer]

mjbfan79:  Exactly! I was going to buy a house a couple of months ago. Even got pre approved. Decided it was in my best interests to work on my credit more and pay down more debt to put myself in the best possible position.

So I'll wait at least until my cards age a year. Besides, by then several major baddies will have dropped off. So while I'm still working on some minor tweaking, I'm hoping for the best.

I've never had this much credit, so I feel blessed even where I'm at now. I am forever grateful to all the helpful souls and knowledge I've found on these forums!

I wasn't totally irresponsible---I just did not 'know'!