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Question By
osnat678

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870 People Helped
100 point drop in credit score :(
opened two cards and had a new loan for school and my score is down by eighty points. when can i expect it to upswing again? everything is paid off credit card wise.

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Yes, opening that much credit in that short a time will definitely hurt you. Your score should start creeping back up in the next six months to one year if you manage the new credit well. But as far as those credit cards go, you'll help your score more if you keep small balances (between 1% and 20% utilization) on them every month instead of paying them down to zero. Zero is good in the real world, but the scoring world wants to see evidence that you're using your cards and are therefore likely to be a profitable customer.

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