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pbj60

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I opened an account recently and my credit score went down. Why?
I did not know I was getting a credit card. I thought it was a regular monthly account with 48 months with no interest.

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Credit Card

I recently opened an account to buy a mattress. It turns out it was a credit card . I did not know it was a credit card.  I have worked hard to finally get my credit to the 700 mark and not it has fallen because of this new account.  I thought your score would increase instead of decrease with new credit. Please help me understand this and is there anything I can do about this.  Thanks.

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