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immt

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Opened new credit card, FICO dropped 30 points...
Just checked my FICO, which was as 802, and now it's a 770 after opening a new credit card.

My credit utilization is roughly 1%, I have one auto loan, no mortgage, five credit cards (only use the new one now), no delinquencies, all payments are made on time, average credit length of 3 years (one card is at nine years, but the others are closer together and the auto loan was opened in May of 2015), and five hard inquiries with four that will be dropping off this May.

Is it possible that the new credit card just pushed everything down due to frequency of new accounts and inquiries?

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That's a big drop just for getting a credit card and doesn't sound right to me either. Things should start to recover in a few months. One question though, you said FICO score, are you getting that from one of your credit cards, just making sure that you understand that the scores here are not FICO.

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