cancel
Showing results for 
Search instead for 
Did you mean: 

Is it normal for a 20 point score drop after new card?

tag
Anonymous
Not applicable

Is it normal for a 20 point score drop after new card?

Got a pre-approved offer from Ollo which I accepted last month and today Experian reported a 20 point drop because of it. (From 602 down to 582)

   Screen Shot 2019-03-29 at 12.31.32 PM.png


My dicover card is nolonger secured and the credit limit will show as $1500 as soon as they report it. Will I get an additional drop when that happens or did this happen because of reduced age of accounts?

 

Message 1 of 6
5 REPLIES 5
FireMedic1
Community Leader
Mega Contributor

Re: Is it normal for a 20 point score drop after new card?

Where did you get the screenshot from? If its Credit Karma, ignore it.


Message 2 of 6
Anonymous
Not applicable

Re: Is it normal for a 20 point score drop after new card?

Yes their is a new account ding..

Message 3 of 6
Anonymous
Not applicable

Re: Is it normal for a 20 point score drop after new card?

You had only two open accounts less than a year old, so yes getting a 3rd impacted your average age and is probably the reason for the score drop. When your Discover unsecures it will be the same account. It will not effect your average age at all.

Message 4 of 6
FireMedic1
Community Leader
Mega Contributor

Re: Is it normal for a 20 point score drop after new card?

You can get your 3 CRA FICO scores for $1 and then cancel before the trial ends. https://www.creditchecktotal.com/ Or Discover Scorecard for a free EX FICO score. https://www.discover.com/free-credit-score/ CK is Vantage and useless. Its good to see everything is reporting correctly and their alerts. Then compare the scores. You'll see the difference.


Message 5 of 6
Anonymous
Not applicable

Re: Is it normal for a 20 point score drop after new card?

Thanks for the suggestions. I'm planning to get that $1 special from creditchecktotal. Currently I can see Experian with FICO at https://www.freecreditscore.com/, which is also free. That is where I noticed the 20 point drop.
Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.