Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
moses1969

0 Contributions
0 People Helped
applied AMEX card successfully but it drop my credit score and increases my hard enquiries. How?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
935 Contributions
133 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

Congrats on your new Amex card.  When you applied for the AMEX for the credit, they asked a credit bureau for your full credit report.  This is called a hard inquiry, this will remain on your credit report for 2 years.   When the account was opened, it was a new account and as such, you average age of accounts took a dip as did your credit score.   The 13-20 point dip that your credit score took will be easily recovered over time as  you make timely payments and manage the card.   An additional dip may have occured if you activated any balance transfer options to the card which would have you at a high utilizaiton on this card, although overall your utilization should have decreased with the new credit line.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.