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My open credit card utilization went up 4% and my score dropped 21 points. Why?
My total open credit card utilization is still only at 8% (and under $1500, much less now after this months payments), so I don't understand this. No late payments or anything like that.
I did recently apply for a new store card and I was approved with a credit line of $2200, but that should improve my score aside from the inquiry, right? It makes my open credit card utilization even less...
The inquiry did make my score drop 3 points, when I first applied, but I just don't understand the 21 point drop that happened within the 9 days between CreditKarma score checks.
Asked by
JAHughes11
1 year ago
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Have you applied for any other cards within the last 6 months besides the new store card?
pkelly812 1 year ago
sounds like inquiries, wait 6-12 months, dont apply for more credit.
nbirnbaum2 1 year ago
Yes, it does sound like inquiries - and yes, don't open another card. I was thinking it could possibly have been because of opening a card too close to another card. Your score will go back up in a few months.
pkelly812 1 year ago