Score dropped 59 points because of CC

[MikeB4]

My Cap1 QS card finally shows up on my report but it knocked my score down.. how long does it take to regain the 59 points that went down?

[FicoMike0]

That's a big hit for one new account and hp. What kind of score is it and where did you get it? Is it a creditwise vs3? Still, I've never seen that kind of hit to fico or vantage from a new account. What does the rest of your report look like?

I just checked my vantage score. I usually lose 15 points for a new account, recovers in two months.

[Jnbmom]

I am sure this is a result from other thread.

[Tdatb64]

That depends on a number of factors. A new card is "new" for FICO scoring purposes until it reaches 1 year and "new credit" is a scoreable factor. Did the new card drop your Average Age of Accounts below 1 year? That's another big factor. Even if it didn't drop AAoA below a year it still reduced it. When it first reported, how much of the limit were you using? Utility is a factor.

Your score will fluctuate based on many different factors. You may see increases based on things to do with your other credit items (if you have any) and on how you use this card but, as I understand it - and this is likely an over-simplification - you won't get THAT PARTICULAR 59 points back entirely until after that card's 1st anniversary.

[Tdatb64]

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@FicoMike0 wrote:

That's a big hit for one new account and hp. What kind of score is it and where did you get it? Is it a creditwise vs3? Still, I've never seen that kind of hit to fico or vantage from a new account. What does the rest of your report look like?

I just checked my vantage score. I usually lose 15 points for a new account, recovers in two months.

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On a very thin file that's not an unusual hit.

[JoeRockhead]

Likely a combination of the new account and the 168% reported utilization on your Cap One card you posted about in the other thread.

[FicoMike0]

@JoeRockhead 

Good catch! Going over 100% might do it. Does anyone have data I that?

[SouthJamaica]

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@MikeB4 wrote:

My Cap1 QS card finally shows up on my report but it knocked my score down.. how long does it take to regain the 59 points that went down?

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1. What score got knocked down?

2. What's in your credit profile?

[FicoMike0]

With 168% utilization they might come up with a new scorecard.

[MikeB4]

Yeah but as others said here it carries no memory when it's PIF?