Credit score dropped 14 points, not sure why?

[Reeflex]

Hey guys, 

So this may be a newbie question, but my credit score dropped across all scores. When I applied for my Discover card my EQ dropped 5 points and now that my statement has been reported it dropped another 14 points on EQ and 13 on my TU. My guess is that its probably since my credit history dropped from 10 months to 5. My Amex card hasn't reported into my accounts yet, will that also drop my score even more? I also just want to make sure this is normal. Once again sorry for the newbie question, and thank you.

[Pikaboo-icu]

Welcome to My Fico.. 

Yeah, dropping your AAoA and AooA can cause score drop..

But where are you getting those scores? Credit Karma? Or?

If CK, they are not real Fico scores.. There are places you can obtain your true Fico scores for only $1.

Just be sure to cancel within 7 days. 

https://www.creditchecktotal.com/homepage8

[Anonymous]

Check your credit utilization.

[Reeflex]

It’s at 0% no card currently has a balance.

[Reeflex]

I am getting the scores from Credit Karma my score from amex and discover rose to 739 which is the weird part, I’ll have to check that website out.

[Pikaboo-icu]

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@Reeflex wrote:
I am getting the scores from Credit Karma my score from amex and discover rose to 739 which is the weird part, I’ll have to check that website out.

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Please use the link I gave you or another site that provides you true Fico scores.. The score from Amex is a true Fico. 

The Fako scores CK is giving you are not used by any lender and they are causing you alarm for no good reason!

CHEERS

@Reeflex wrote:
It’s at 0% no card currently has a balance.

Also this will cause a drop in your score.

It's best to PIF but allow a small balance to report on one major card. (Not a store card). 

[Anonymous]

As Pika mentioned, your score drop is a penalty for having 0 balances reporting.

[Anonymous]

Same thing happend to me when my second credit card showed up on my credit report, so it was not usage or the initial inquiry it was for the most part average age of credit and to a lesser extent amount of new credit. We need to take a step back before we can take a couple forward. In 6 months you will have more than made up for those 14 points if you use your cards right 

[Anonymous]

In this case, it's the All Zero penalty, usually worth about 15-20 points. Yes, OP's age related factors got a little younger but OP started with AAoA of 10 months and AoYA of less than 12 months, getting younger from such a young file probably had little to no effect on scoring.

[Thomas_Thumb]

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@Pikaboo-icu wrote:

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@Reeflex wrote:
I am getting the scores from Credit Karma my score from amex and discover rose to 739 which is the weird part, I’ll have to check that website out.

---

Please use the link I gave you or another site that provides you true Fico scores.. The score from Amex is a true Fico. 

The Fako scores CK is giving you are not used by any lender and they are causing you alarm for no good reason!

CHEERS

@Reeflex wrote:
It’s at 0% no card currently has a balance.

Also this will cause a drop in your score.

It's best to PIF but allow a small balance to report on one major card. (Not a store card). 

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The card reporting a balance should be a credit card and it can be a cobranded store card such as a Target Visa card. If the card reporting a balance is an AMEX charge card, it is not considered a revolver. The actual score penalty is stated as: "No recent activity on revolving accounts". 

Side note: There is a negative scoring factor associated with "too many accounts recently opened". This factor is different than AoYA. I believe both Fico and VantageScore look at "too many accounts recently opened". Based on the above, the score drops you are referring to are VantageScore not Fico. Since Discover and AMEX only update Fico scores once a month, your increased Ficos may not be reflecting the latest data in your profile.