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New Credit Account lowering credit scores

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Anonymous
Not applicable

New Credit Account lowering credit scores

Does anyone know if the "new credit account" problem will go away on my account if I close the credit card account I opened four months ago?
Message 1 of 5
4 REPLIES 4
smallfry
Senior Contributor

Re: New Credit Account lowering credit scores


@Anonymous wrote:
Does anyone know if the "new credit account" problem will go away on my account if I close the credit card account I opened four months ago?

You were appoved for the card it is yours. Closed or open it still counts the same. 

Message 2 of 5
llecs
Moderator Emeritus

Re: New Credit Account lowering credit scores


smallfry wrote:

@Anonymous wrote:
Does anyone know if the "new credit account" problem will go away on my account if I close the credit card account I opened four months ago?

You were appoved for the card it is yours. Closed or open it still counts the same. 


 

Ditto. The only thing that can help is time.
Message 3 of 5
Anonymous
Not applicable

Re: New Credit Account lowering credit scores

Generally, how much time after an account is opened does it take for your score to recover?  Presuming of course that you are not doing anything else that would lower your score.
Message 4 of 5
Anonymous
Not applicable

Re: New Credit Account lowering credit scores

The "new account" code should fall off after a year. Make sure you keep it active because it would do no good to close it and lose the util because you already took the inquiry and new acct hit.
Message 5 of 5
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