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mbeachtch

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credit inquiries
credit inquiries resulted in issuing a credit card...why am I being penalized for an inquiry that results in a new line of credit?

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A hard inquiry to your credit occurs when you apply for credit.  It does not matter if you were approved or not.  This is a tool to measure how many new accounts you apply for in a short period of time, which is usually a negative factor.   You will also see another drop once you receive the approval as your average age of accounts lowers as a result of this new credit card.  You should not be concerned about the little drops to your credit on a week by week basis, it is the overall good/excellent ranking you want to achieve in every category.  Your credit score itself is but one bit of information a creditor will look at as they measure your credit worthiness.  In a matter of a few months, you will see your score increase beyond its current drop as long as you manage that credit card properly.

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