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bradtech519
Posts: 6
Registered: ‎06-01-2012
Credit score dropped opening new cards

Hello,

 

I am attempting to build credit/paid in fulls. I am using transunions tool and it is stating the main factors hurting my score were that I didn't have any open credit cards. I had a stage card and older cards that I paid off and stopped using entirely. (2009 last used).  I had disputed some negative info and my score jumped up to 640. After a new credit card its dropped to 626. I actually have two new cards and the 2nd one hasn't hit my report yet. I plan on getting the "paid in full" each month because this is what I was told would help establish credit.  My goal is to get approved for a home loan in a year or two. Current debt to income is around 20% due to student loans but they have been paid succesfully on time and I own a rental house that pays the loans essentially.  My scores were the following 640 experian 640 transunion and 580 equifax ?!?. Looks like all three will take a 10-12 point hit now. Hope I didn't make a long term mistake