New Credit Card

[sooneracct]

My husband fell for the 20% off for a new card at Kohls. It came in the mail today. It also hit his credit today and dropped his score 43 points to a 700. He hasn't used because he had Kohls cash. If we call and close the account will his score go back up?

[Anonymous]

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@sooneracct wrote:
My husband fell for the 20% off for a new card at Kohls. It came in the mail today. It also hit his credit today and dropped his score 43 points to a 700. He hasn't used because he had Kohls cash. If we call and close the account will his score go back up?

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Nope.  Closing it now won't change a thing.  His score will gradually climb back up.

[NRB525]

+1, nothing to do about it.

However, that's a monster hit to the score for just one new account. Are you sure there's nothing else this week that is changing on the account?

What other cards does DH have? CL? Amount utilized already?

Is that score measure from here? MyFICO?

[sooneracct]

Yes it's from here. He has nothing but a truck. We are buying a house within the next 2-3 months. This hit hurts bad. Drops it to 700.

[sooneracct]

It has a 0 balance. And a CL of $600.

[NRB525]

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@sooneracct wrote:
It has a 0 balance. And a CL of $600.

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Ok, well I just... There's something else missing. Just a truck loan? No other credit cards? Ever?

[sooneracct]

Nope! Unbelievable.!!!! Lol