new account damage

[mrlimo]

 Well my new account just hit my report today. With the inq and the ballance of 50% util on 1 card still only about 5-6% of my total I had a decrease from 811 to 792 a 19 point decrease. I am guessing about 10 coming from the inq and the other 9 from the util. I will not be able to really tell though. I have 0% on the card for 6 months so the ballance will fall but will only show 0 after the 6 months and the inq will stop hurting as much around that same time.

account is with GEMB "Funancing Card" on a New Vespa Scooter for the wife.

Message Edited by mrlimo on 07-26-2008 02:42 PM

[llecs]

The decrease would have come from not the inquiry, but rather for the new credit (10% of your score) and the possible decrease in your avg. age. I have lost 20-30 points on avg. for new accts. Most of the loss (90% or so) was recovered within 4-6 months.

[haulingthescoreup]

15-20 points for a new account in your score range is very common. Hope your wife enjoys her new scooter!