Reply
New Member
mousepotato
Posts: 5
Registered: ‎01-16-2012

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

Contributor
jjsten
Posts: 118
Registered: ‎01-06-2012

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
mousepotato
Posts: 5
Registered: ‎01-16-2012

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
llecs
Posts: 32,880
Registered: ‎08-04-2007

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
SoulMaster
Posts: 981
Registered: ‎11-08-2011

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 3/15/14 All 700+. Last CR pull from a lender(housing) was mid-score 729.
Goal Score: 700+ - reached.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+