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
ffeliciano2006

0 Contributions
0 People Helped
Credit score dropped significantly after getting my first credit card.
I just got my first actual credit card to help build my credit. Instead my credit score dropped significantly for "opening an account". I don't get it, it did the opposite. Please HELP.

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
97 Contributions
131 People Helped

Hi ffeliciano2006! It is normal for your credit score to drop after opening up a credit line. However, this should only be temporary and your score should experience a speedy recovery. The best way to ensure that your score improves is to make all payments on time, keep balances low, and avoid opening any new accounts. You mentioned your score dropped significantly though- this shouldn't be the case when you just open an account. Have you pulled your actual credit score or are you looking on CK? CK isn't always accurate, so don't fret if you see a significant decrease in your score here. 

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.