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What are the limits and utilization of all your cards? What is your average age of accounts and the age of your oldest account? One of these areas is likely the cause of the drop.
@ReEducationOfAnEgoiste wrote:
Average age of accounts is now one month because of VS, AoOA is 5 months.
If your oldest account is 5 months, then it seems to me that in five months from now, ALL your cards will be at least five months. How can the scores NOT go up then? It sounds like only a matter of time and things will be righted.
Enjoy your new cards and do what you're doing now! You're doing great!
And I can tell you, Credit Karma's scores can be wildly inaccurate. My Equifax FICO is 634, but Credit Karma says it's something like 580 or something. I've also noticed CK's scores sometimes going up and down over things that don't cause my FICO to budge even an inch. Sometimes CK's score changes can indicate a similar change in FICO, but other times they're meaningless.
@ReEducationOfAnEgoiste wrote:
Since I am very recently back to rebuilding my credit all my limits are quite low. Two of my cards are secured cards and the other two are from the old ShoppingCartTrick.
Discover card ($500 SL) is the first one.
The second is Capital One card ($200 SL), which hasn't even post to my report yet.
The last two are an Express card ($500 SL), then newest Victoria's Secret ($250 SL).
The first three all get use, and by time they post only show zeros but for one which shows about 5% utilization.
Victoria's Secret is so new I haven't received it yet, it's just showing on my credit report now.
Average age of accounts is now one month because of VS, AoOA is 5 months.
No more new apps for me for quite a while I know, but this 30-point drop on my TransUnion which is my best is so painful.
I guess it's a case of too much to fast.Yep
You've got 4 cards in a short period and that taking its toll on you. Too many inq's probably did you in the same timeframe. Its time to let them grow. Your doing great practicing AZEO. For now no more apps. If you do not have a installment loan. Self Lender would be a good thing to do and that will raise your score. Once you past AAoA of 2 yrs, nice score boost. So its time to garden and no more apps.
You can do the SP CLI with Disco. (if its not secured) After 3 statements with Cap1 you also can ask for a SP CLI and in 5 months credit steps will kick in. So for now enjoy what you got and in time better things will come your way. Good Luck!
The only thing you need now really is time. With time and history of paying your cards off - your scores will only go one way - up. Keep doing what you are doing now and you'll see the fruits of your labor soon. Remember, credit is not a race, it's a marathon.
@ReEducationOfAnEgoiste wrote:
I guess it's a case of too much to fast.
It's okay, you got the ball rolling now....they will age together. As already said, Scores will bounce back with positive reporting. I did the same thing, scores took a dive initally, some good tl's starting to fall off so I pulled the trigger and now I'm just gonna garden. By the time my last good tl's fall off these will have aged a couple of years and start to fill in the cracks. I felt like it's now or never almost. At least all the hp's will fall off together. We should be sitting pretty in a couple of years.