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Question By
Rangersfan23

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Credit score has dropped by 40!
I applied for a macys card and i used less then 50% of the credit limit (yes im aware the recommended is 30%). And when my credit score gets updated i dropped 40 points, is this because of my credit inquiry? i will pay the whole balance off before the due date but im just wondering why this happened. Or was this because my credit utilization went up, any of those 2 cases i dont see why it dropped so much. I would like any feedback/tips on this so i can improve it. And i also have a discover card that hasnt yet been reflected on my account i can only imagine that will make my credit score go down even more! On that card i have used 30% or less on the credit limit. I have fair credit but im on the road to good credit and in the long run excellent. Please help!

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Credit scores are a snapshot at a given instant. Your credit took a small hit when you applied for the Macy's card, and again for the Discover card, then again when your utilization went up upon using the Macy's card. It will recover a great deal when you pay the Macy's account down, and slowly recover from the two inquiries over the next couple of months.

Remember that CK only updates every week or so. Your actualy FICO score is a score for the exact time that it is requested. In other words, updated on every inquiry.

Things should recover quickly in your case.

Reply by
Rangersfan23

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thanks for the reply! had me worried for a minute

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