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1956Buick

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New Credit Card, Credit Score dropped 78 points!
Opened new account after using creditkarma tools / advice for improving credit score, got $5K limit, did no advances or transfers. Why would this happen ?

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New Credit Card, Credit Score dropped 78

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Well, I do not know what it could possibly be as nothing shows up on credit karma, no negatives. Recently paid off two installment loans for cars, no other new accounts, no late payments, no collections. So how do I find out? Credit card company indicated that my equifax score was 738 last week when I applied for the card. I'm very confused that one week later Experian has it at 698 where previously it had been

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1956Buick

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I meant to communicate that the Transunion score , not Experian dropped from 776 to 698.

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nothing changed in my case

 in my case I didn't use card for 1 month - no new card, no close card, no THING changed and they dropped my score up to 30 points!! But they mentioned that I don;'t have to use my card 0-9% is excellent and score should not be affected is not using card!

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Reason why your score may have dropped

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There are several factors that go into determining your FICO credit score. When trying to determine why your score went down due to this one new credit card you have to look at all the major factors. , payment history, total debt to your total limits, length of credit history, your mix or types of credit and your credit inquiries. Based on the info that you provided, you now have a new account ( inquiry) : a new credit limit ( total debt to total limit) you've paid off Two auto loans ( mix of credit) and ( credit history was recalculated)

I know this doesn't make sense but all of these factors are part of how the FICO scoring model works. FICO is very secretive about the working of their formula. I would suggest getting all three of your credit reports. go to www.annualcreditreport.com  Every 12 months you are entitled to a FREE copy of your credit reports. Get them and review them LINE by LINE. Errors can show up anywhere. But wait at least 60 days from after you opened that new credit card , this gives you time to use it for one month and then for it to report to your credit reports. 

Hope this helps!

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there has to be someother change in your credit other then acquire one brand new card with a decent limit,,,,the hard inquiry accounts for 3-7 points as for the other 70 points has to be something serious or combination of things....utilization sky rocket perhaps to D range ie: over 50% but with the new card that doesnt make sense.....honestly you would have to post more info to get any real help from soneone here 

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why is my credit score at transunion 745c and 654 on ck?

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