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jredd42

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My score just dropped 16 points overnight!
I just opened my first credit card. I have only used it once, and spent $20 in gas. I checked my score this morning (thinking a new card would INCREASE my score) to find that my score dropped 16 points! I went ahead and payed off the $20.

So, attempting to be responsible penalizes me??

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Credit Karma Team
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Hi jredd42,

It sounds like this may have been your first hard inquiry. A hard inquiry is added to your credit report any time you apply for a new line of credit. A hard inquiry generally causes a temporary score drop to discourage you from applying for too many new lines of credit at once. Your score will rebound with responsible use of your new credit card. 

Since it sounds like you are new to the world of credit, I suggest reading some of the helpful articles available here on Credit Karma to educate yourself. 

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