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taylorgiannelli

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i have poor credit i got an unsecured credit card and my rating dropped why???
this is the only change that has happened on my report. I applied and was approved and it caused my rating to drop I don't understand

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Top Contributor
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Without seeing your full credit report, I can only make a couple guesses.  Since you have a new credit card, two things have happened.  1. - you have a new inquiry on  your record, which accounts for 10% of your score.  2. - since this is a new account, they need to see how you handle the credit.  Once you've made a couple months worth of on-time payments, I'm betting you'll see your scores start moving up.  I've seen that happen with a few of my clients, even with a secured card.  Be patient and pay on time and you should be OK.  Be sure to check out the Articles on the menu bar on the left for more specific and excellent info.  Best of luck!

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