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Credit score dropped 100 points after opening a new CC

New Member

Credit score dropped 100 points after opening a new CC

My credit score dropped from 749 to 651 in a month after opening a new Amex blue cash everyday card.  Any idea why there is such a huge drop?

 

My info:

I have 5 open accounts and my average age of open credit lines dropped from 9 months to 8 months.

Credit card utilization stays 1-9% for 5 months

Total credit line is 9500.

Hard credit inquiries: 6

4 REPLIES
Contributor

Re: Credit score dropped 100 points after opening a new CC

Are you sure no new derogatory information has been reported to the CRA's?  I would think your scores wouldn't drop that much with a new open account.

New Member

Re: Credit score dropped 100 points after opening a new CC

Yes, I am pretty sure that there is no derogatory information on my credit report.

Moderator Emeritus

Re: Credit score dropped 100 points after opening a new CC

Where did your score come from, and was the beofre and after score from the same source?

Established Contributor

Re: Credit score dropped 100 points after opening a new CC


llecs wrote:

Where did your score come from, and was the beofre and after score from the same source?




 

+1  I've seen my silly FAKOs do that, but FICO seems to not mind as much.

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.