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
celticjeff2

1 Contribution
0 People Helped
Credit score went down 21 points?
I just recently opened a secured credit card with a low limit thinking it would help improve my credit score. My credit score has gone down 21 points instead.I have paid on time since I have had it.Why has my score gone down?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
73 Contributions
59 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

Your score won't improve overnight. There are multiple factors going into your low score. Without knowing your credit history, it's hard to pinpoint exactly what made it drop.

The secured card will help. Use it often, pay it off each month. Once you build a history of 6 months to a year of making payments on that card, you will see your credit improve. It will be slow, but it will happen.

Top Contributor

Reply by
lilkimmi2

73 Contributions
59 People Helped
Helpful to 1 out of 1 people

Actually, it's possible the inquiry on your report for the secured card made it drop like that. Don't fret. It will eventually go back up.

1 Contribution
0 People Helped

Thank you for your help!

Results 1-2 of 2Results 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.