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I've heard this is to be expected and will rectify but wow this is unnerving. Only Equifax has the new account listed, but they say my score dropped 2 points due to a new account opening. On top of the other 40-odd points it dropped from my other loan showing closed/paid. Uggggh once I fix this stuff I'm never messing up again. I can't take it!
@SedimentaryRock wrote:I've heard this is to be expected and will rectify but wow this is unnerving. Only Equifax has the new account listed, but they say my score dropped 2 points due to a new account opening. On top of the other 40-odd points it dropped from my other loan showing closed/paid. Uggggh once I fix this stuff I'm never messing up again. I can't take it!
Congrats on refinance. Yes, you'll recover. Other than accounts settling, new loan is basically close to 100%. As you pay down, that will gain points.
TBH, I don't think there's a reason to be unnerved or frustrated by it. That's the price of doing business/using your credit. Most of this kind of activity is fleeting and will rebound with age. And if a person doesn't want ups and downs, mainly downs, then they need to abstain from credit seeking activity. Point losses from HP's and new accounts are the name of the game and it's much better than the alternatives like collections lates etc.