Big score drop

[Anonymous]

I have a year and 2 months of credit history. My credit karma TU score was 713. I aplied for amazon last week and was approved for a $600 CLI. I went to check my score this morning on CK and the score dropped 72 points. I have one credit card(capital one) with a 0 balance and now it shoes the amazon card with a 0 balance. Why would my score drop 72 points? That is my only inquiry in the last 6 months and only 4 inquiries total.

[Shogun]

It's because it's CreditKarma.  No other reason.  Mine dropped over 80 points when I got a new CC.  Don't put any value in that score.

[Anonymous]

Ok Im just trying to have perfect credit or as close to it as possible. I though having the amazon card would actually improve my score because of having more credit availble. I also forget to mention I also got approves for dell for $1200 which did not show up on the credit karma report.  So you think my score should still be pretty healthy?     I wont be applying for anythig else for another 6 months. My goal is amex or the citi card.

[Shogun]

Yes, those new accounts hurt a little at first because of the Inqs and the hit to your AAoA, but they are necessary to thicken your file and allow your scores to grow.  CK only counts AAoA on open accounts, they don't factor in closed accounts.  The information CK provides is great, but their scores are useless.  Just garden your new accounts and your score will grow.

FYI...  CK uses TU and their score is about 80 points lower than my FICO score.

[Anonymous]

I love this place it has been a huge help! Thanks for the info.

[Shogun]

Anytime, glad to have you around.  

[Anonymous]

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@Shogun wrote:

Yes, those new accounts hurt a little at first because of the Inqs and the hit to your AAoA, but they are necessary to thicken your file and allow your scores to grow.  CK only counts AAoA on open accounts, they don't factor in closed accounts.  The information CK provides is great, but their scores are useless.  Just garden your new accounts and your score will grow.

FYI...  CK uses TU and their score is about 80 points lower than my FICO score.

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I 100% agree with this comment! i use credit karma and sesame but put very little thought into their scoring process. On another note, they  seem to be "selling out" to merchandise companies. I am debating removing my accts with them all together.  I bet they are sellin our info to these companies....i am getting these 0% financing offers on tvs and refridgerators and stuff like that.....NO THANK YOU! Get your myfico score from this site!!! you can also get all three fako score from the big 3 credit  bureaus at various other sites for free(trial).

[takeshi74]

I use CK and don't get such offers but I have removed myself from the marketing lists for all the CRA's.