Fingerhut again and score drop

[kebeneezer88]

Hi, I'm sure the answer is here somewhere but why did my score on EX drop 16 points when my new Fingerhut just reported and one Comenity reported balance paid to 0? Also, FYI had one new inquiry.

[RonM21]

A new inquiry drops the score a few points, as well as a new account in most cases. Also, depending on what your overall utilization is, if it is at zero across the board, you lose points for that also. I don't know your full situation though to know where your utilization is.

[kebeneezer88]

It's total 39%. One cc has $88 balance that I just paid and one small loan for $700 at 97% utiliization. I just paid first payment on that.

Hopefully it will go back up? About to add secured Cap 1 to the mix. Should I have a small balance report on one of these Comenity cards?

[RobertEG]

A new account has an initial age of 0.

That affects your average age of accounts, and also being under one year, may enter into your New Credit scoring.