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optimisticnikki27

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Credit Score Dropped 27 Pts After Applying to CareCredit! Advice Please!
I need some dental work done so I decided to apply for a Care Credit card. I was approved for $5,000 last week and have yet to receive my card. Today I got an alert from Credit Karma saying that my Equifax score dropped 27 points. I clicked to see what changes had been made and all it showed was an inquiry for CareCredit and a new account added (CareCredit). I don't understand. I was so close to being in the 700's! This is extremely depressing. Can anyone shed any insight?

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Relax!! Credit scores will have occasional 'hiccups' now and then without you doing anything significant.  This situation may be due to 'age of accounts' getting a quick drop since it is figured on average age.  Make your payments on time every time and you will be fine.  I know because I have been there and not that long ago!!  As time goes on and circumstances permit, increase your credit accounts (the articles here give great credit building advice) and play the credit game, because it is a game.  The information I got from this site's articles was a far better education on how credit works than I got in the accounting and management classes I took. I'm not going to play the 'cash only'game ever again.  The 'credit game' is far more fun when you catch on.  

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