Wow! 50 point drop!!!!

[Anonymous]

Can someone please explain to me how I applied for a Wal-Mart card....approved for $1,200. Then it hits my experian report, and my score drops from 746 to 696? 8 inquiries. ..with zero balance on Wal-Mart card. 3% total utilization

[Gmood1]

We are talking FICO scoring models correct? A thin file will do that. It will bounce back fairly quickly though. You may want to pull your reports to see what's going on.

[Anonymous]

Yes, Fico 8. Its a relatively thin file. 5 cc and one installment. Average age of 3.8 years, but 4 of the cc are less than 2 months old. How long to rebound.

[Anonymous]

I would suspect there is more to it than that. Wait till CK updates and look at your report. Seems something else happened. I've never had my score drop (a real FICO score) that much for one new account

[Anonymous]

Most likely the seeking credit factor with experian, something similar happened to me a year and a half ago after my first spree where my experian went from 738 to 690 three things happened at the time were the seeking credit factor showed up and also my aaoa took a significant dip, and the multiple inquiries all added up. I suspect the same for you as my aaoa was around where you're at currently after my first spree went by. The good news is let those cards mature and it'll bounce back in a few months as well as your aaoa, as your file thickens and ages it'll be harder to feel the effects of app sprees down the road.

[Anonymous]

Don't worry if you know it is thin. I opened I think 10ish cards last spring and summer and my scores had dropped about 15 points on average for a few months but they came back up quickly.