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FTPottle

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Adding a card was supposed to increase my credit score, but it actually dropped it?
I was using the credit calculator, which I know states it's not going to be entirely accurate, but opening a new credit card with a $300 limit was supposed to increase my score around 40-50 points, but it actually dropped it about 48 points. What's the deal with that? And now the credit calculator is stating if I open another $300 credit card it will increase my credit score by 87 points? Im incredibly irritated because I only needed my credit score to go up 10 points so that I could cosign my lease, but now I have to try to get it up another 50 points which is going to take way too long. I've already been trying to get this done for a couple of months now and was only able to get it up 2 points before this 48 point hit.

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I had the same thing happen to me.  Opening the new card more than likely made your average age of accounts to take a huge hit, which lowered your score.   The only thing you can do now is to wait it out. Once the average age of accounts increases, so will the scores.   I know it's sucks, but that's just the way it seems to work.

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You need to take the time to read and learn.

Over time it will increase your score AS LONG AS YOU KEEP USAGE BELOW 10%.  Ina few months the hard inquiry will not be such a factor, and the credit limit increase doe help with the usage percent. It also develops an additional credit item (as long as it is in good standing).  The GOOD credit score game is not one that is measured in days or weeks, but in months and years.....

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