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locoqban123

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from fair to bad on 1 hard inquire
I had a fair credit score all because I have been debt free for over 10 years and did not use any kind of credit for that period of time,I decided to start using my credit to improve my score requested one credit card and my score got worse 26 points drop and now my rating is poor ,how and why ? Nothing else has changed in my credit report .

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You don't have to use your credit card for your score to improve, though it helps indirectly -- i.e. I have a 50k limit MBNA card, because I used to take advantage of the 0% APR offers they were giving out like candy for 3 or 4 years.  So, I'd use a cash advance check (back then the max fee on those was $30-$50), take out my maximum - $1000, invest it for 6 (or 12) months, then pay it back.  After that, they'd raise my limit.

Regardless, it doesn't make sense that your score wouldn't change, as having that one card would add that amount of time to your credit history.  Though I know some people are a bit foolish and will call and cancel that first credit card (generally it won't be as good as ones you get later).... but that's a bad idea, since your credit history will then be based off the date you received that second card/loan/whatever.

Your total available credit has an impact on your credit score.  It also causes your score to go down less when you do carry a balance (utilizing a smaller % of your total credit).  It's really a good thing to have a handful of credit cards (but not more than that).

If you had a credit card for 10 years and then did one hard inquire, your score wouldn't drop 26 points.  If you have no credit or have credit history of a year or two, then dropping that much would make sense.

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Blah blah blah

heres the deal.  You had no credit,  you now have a card,  score goes down for a few months till you show that you can pay off the card. then score goes up.  i just got  new card with a $12000. limit.  my score dropped 80 points.  1 month later my score is back to where it was before.  Scores fluctuate all the time.  Don't worry so much about the actual number. Just that it is moving in the right direction over time.  

Good Luck 

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