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Hello everyone,
I'm new to the board and i just went through a bankruptcy. It was discharged this past July and I have acquired 3 CC's to build my credit back up. One of the credit cards just posted to my account and my score dropped 28 points. Is this normal when you add a new account?
Any advice would be greatly appreciated.
Welcome to the forums!
Are these your first CCs, or do you have others?
It's not uncommon to lose points when you add a new TL due to the new credit and possible drop in AAoA. I've found that I've lost an average of 20-25 points per new TL being added. When I added my first three, I gained points, but future CCs resulted in a drop. Usually most of these points returned within the first 6 months with the remaining by 1 year. Last summer I added three new TLs and my score dropped 50+, but within 10-12 months, all the points had returned.
Hello,
These are my first CC's I have acquired after the bankruptcy.