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Score Droped by 30points.

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voidman
Established Contributor

Score Droped by 30points.

Just checked my scores, it has droped by 30points across the board from 700ish to 670ish.

 

Due to miscalculation of statement cut dates on  my credit cards, I let it report its actual balance. I was controlling the balance to be less than 9% for more than 6 months, but last month it reported around 30% balance. 

 

Also I guess, Wamu 4k cl, started reporting last month. 

My new Chase card hasnt started to report yet, so i guess when that reports too, i will get a futher hit in credit score. 

 

So Question, is this normal to get 30points drop due to above activities? also how soon can I recover those points?

-void
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1 REPLY 1
llecs
Moderator Emeritus

Re: Score Droped by 30points.

For new credit, I've had an average of 20-25 point losses per new CC reporting. The damage is temporary and you'll gain about 90% of those points back within 4-6 months from when it first reports.

 

The utilization could be an issue. You'll get it back next month.

 

 

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