125 pt. drop in Equifax

[Anonymous]

Im new to credit, this past week was the first time I checked my score, and I was hoping someone could help. I just closed my CapOne Secured acct. b/c I don't want to pay the AF, and I wanted my $600 deposit back. The result was that my EQ score dropped from 692 to 567. TU is steady at 745, and Experian didn't change (697). Each report shows the closing of that acct., but only my EQ score changed Now I'm afraid to apply for another card, because if they pull my EQ score, there's no chance of being approved, and I'll get hit with the inquiry. I don't have any other accounts. Am I stuck re-oppening a secured acct. to rebuild credit before I can qualify for any other credit?

[baller4life]

You have no other credit cards? You usually don't close cards unless you have at least 2 to 3 other cards open. Im still bewilderd as to why your EQ score plunge so much while the others did not. Did you check to make sure you have no derogs that was reported? I would try to open two to three cards and just focus on Ex and TU pullers. Try the various pre-qual sites for Bank of America,Chase,Citi and see what offers you receive. Only app for Chase or Citi if you get pre-approval because they do pull EQ often. Barclays is a TU puller but they like to see 6 months to a yr of cc history. How long was your Cap One secured active? You can try shopping cart trick with Walmart,Amazon. Synchrony is a TU puller. As a last resort, try Cap One pre-qual site and see what offers you receive there as well.

[Anonymous]

Thanks, Baller. Good idea about the prequalified cards, I'll give that a shot. My CapOne acct was going nearly 4 years old, the reason I closed it was b/c they refused to waive the AF due this next month, and my response was FU, close it! And yea, that's the only card I've ever had.

[Anonymous]

Never close a card unless you have others open.

[taxi818]

sounds like he is looking at a fako. where did you get that score from. surely not here at my fico. that would be the bigger question.