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Question By
isomda

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Credit inquiry issue
I have a ck score of 714 and I was pre-approved for a chase freedom credit card and ck says I have a very good chance to get a blue cash credit card...
When I use the credit score simulator, me applying for a credit card will take my score from 714 to 615 this is a huggeeee drop.. I only have 2 inquiries at the moment, with credit karma, 1with experian and equifax but 4 with transunion.
Is this drop normal?? Any advice for me? I need another credit card (I only have a secured card for a $300 limit, loan with conns for 1years and 11 month(inquiry will disappear this March) And another retailer card for $3500that is 4 months old.

I just need advice cause I thought it would only drop my score by few points.. And how long does someone have to wait before he goes for another credit pull?

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Yes, Its not unusual for your score

to drop when you apply for new credit.  It usually only take a couple of months for your score to rebound once your get a new card as long as you make the payments on time. 

I would wait to open a new card. you say that one inquiry will drop off in march. Since the store card is only 4 months old, I would apply after that inquiry drops off.  I suggest not opening a new accounts more often than every 6 months.

Take recomendations on CK with a grain of salt.  I have heard of many people that apply and are denied. I only apply for credit when i get a "pre-approved" offer in the mail. and only if i like the terms.  

Good luck

Good luck

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