t.u score dropping after new barclays report?? b.k 2013

[dreamcaster1122]

I'm a little confused, i claimed bk. In Aug 2013. My credit score was in high 500s right after. Got a car through toyota financial December 2013, and a credit card with 300 limit from capital one in April 2014. Fast forward to October my credit score for eq. And tu. Hovering around 620/622. Got a pre approved offer from barclays in sept....decided to go ahead and apply- approved $750, in the meantime, capital one has given me a $2000 cli...woo hoo! Anyway check my credit score October 15th and my tu. Report went up 10 points when the inquiry from barclays showed up but once the new card started reporting my credit score with tu. Went down by 17 points?? Is this because of a new account? Utilization has remained no more that 20% for the past 3 months on all cards if not less...will it start going back up after the new account starts to age? By no means am I complaining because and am thankful for what I have with capital one being so trusting in me etc but I'm wanting a 650 credit score by april/ may 2015...think it's possible?

[0REDSOX7]

Looks like it has to do with the AAoA impacting your score more - but this has to do with what your profile was like prior to filing, as well.

[dreamcaster1122]

Yeah u may be right, my credit history just hit the 7 year mark, so. I'm sure that's not helping. Just sucks when u try to better your score and u get a set back. Guess I should have never applied for the barclays card cause my score was on the up and up prior to getting the card from barclays but figured I needed another t.l since I only had 2, thought wrong i guess.

[0REDSOX7]

It's only minimal - let them age and keep utilization down and the score will rebound.

[Scupra]

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@dreamcaster1122 wrote:
Yeah u may be right, my credit history just hit the 7 year mark, so. I'm sure that's not helping. Just sucks when u try to better your score and u get a set back. Guess I should have never applied for the barclays card cause my score was on the up and up prior to getting the card from barclays but figured I needed another t.l since I only had 2, thought wrong i guess.

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You score will take a hit for about six months or so, really not a big deal. Barclay is a great lender and it is good that you got the card! Earlier you said util was 20% on all cards, or something like that... Try to get all of your cards reporting a $0 balance and one card under 20% util and you will see your score climb quick. Now that you have another TL reporting ontime payments it will help as well! Try not to get so score driven, you will just beat yourself up! Good luck and congrats again on the Barclay approval, I love my Barclay card

[dreamcaster1122]

Thanks for the encouraging words, and your absolutely right! Enough to drive me insane! Lol