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Question By
ldayhoff0908

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My transunion score dropped 41 points!?
The only new information that was negative is that my balance increased by $60 on one of my accounts. Other changes were positive. No late payments on anything. No new collections, judgments, repos,etc. Credit utilization is 24%. I did open a new credit card with $500 limit, but 41 points? Could this be a mistake?

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Top Contributor
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Raising debt excessively as you did by going crazy and charging sixty dollars on something....joking.

Probably what caused the dip is the new account. When you open a new account you get hit with a Hard Inquiry, you lower the "average age of accounts" as well and that will cause more damage than the Inquiry. Understand that it is completely normal to have your credit dinged when building accounts. Short term damage is necessary to build good credit. Don't worry about this, your scores will come back up before too long. Keep an eye on your FICO scores as they are the important ones. You need to purchase them from somewhere else, but when concerned about credit it is good to check them now and then.

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