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
Pegasus375

0 Contributions
0 People Helped
credit went down
Credit Karma advised me to apply for credit card said I had very good chance of getting it well I was denied and my credit dropped 68 points

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
935 Contributions
134 People Helped

Your credit score should not have declined by 68 points based on a single hard inquiry.   You will want to look more closely at your credit report to determine what else changed at the same time.  Often times, when parties apply for credit, their credit profile is updated.  It shows new employment; new address; new contact information.  When collection agents who are holding accounts see this contact information, you can start receiving credit collections from past accounts and this information can be posted to your credit report.  It could have also been that a payment was late on a current account or other factors.   When you get new credit as a result of a credit inquiry, you often see a 10-20 point drop depending on your current credit score.  However, if you are denied as a result of a hard inquiry, you should only see 5-6 points on average.

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.