major decrease in credit score

[Anonymous]

So today I decide to just look at CK just to see if anything had report yet.  Well to my credit luck it did.  My equifax fako score went down 73 pt.  No telling how much the actual Fico went down. I knew I had open alot of new accounts(maybe10) all within this month of April.  I knew the inquiries would hit me but I had no idea that my score would decrease by 73.  For my total UTL I'm only using 15%.  At this point I'm so torn.  I don't even know how I'm going to recoup from this.  I have small balances on 3 cards that I'm going to pay in full and just hope for the best moving forward.  I don't plan to apply for anymore cards so hopefully this will help.  Any ideas or suggestions?

[exCYter]

Why would you open 10 accounts in a month and why does it surprise you your credit score took a big hit when you did?  Depending on what those accounts are, I wouldn't be surprised if some of them canceled your account for fear of some sort of scam going on.  

[Anonymous]

I wouldn't worry until you check your real FICO scores.  Vantage scores which CK uses seems to penalize heavily for new accounts.  When I opened several new accounts my CK TU scores said I was at 498!  My FICO TU score was over a hundred points higher than the CK score.  I only use CK to look at reports and make sure nothing new pops up that I need to be concerned about.  I don't pay attention to those scores any longer.  

[Anonymous]

Thanks lookingforhelp34.  Thats basically what I use CK for is to see if anything pops up. I going to check out the real Fico scores on creditchecktotal today.  Hopefully the willnot be as bad as those vantage scores.

[Anonymous]

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@exCYter wrote:

Why would you open 10 accounts in a month and why does it surprise you your credit score took a big hit when you did?  Depending on what those accounts are, I wouldn't be surprised if some of them canceled your account for fear of some sort of scam going on.  

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+1

[Anonymous]

Let me get this straight! I'm not surprise that my score took a hit but I didn't think it would take that large of a hit.  Secondly, they're not going to close they were all verified. Thank you.

[fishbjc]

OP:  That's not really how it works.    Creditors may be looking to see what you've opened after they issued you a card.    It's not uncommon for new accounts to be closed, or credit limits slashed.    It's just the nature of the game. 

[Anonymous]

Fishbjc, thanks for that eye opener.