Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
gguerra3

2 Contributions
0 People Helped
Score goes down 90 points by acquiring 1 credit card !
Recently the company that provides my bank with credit cards backed out and was cancelling cards for all members. The bank offered me a new card to replace the old. I applied for it and the hard inquiry lowered my score by 7 points from 761 to 754. This was nderstandable. I then checked my credit a few weeks later and my score had lowered by 90 points. The limit on the card was $5000. There has been no other major activity on my credit. Why did my score go down so drastically?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
2 Contributions
0 People Helped

I Forgot to mention that my current score is 664 which is down from 754 just for getting one card with a 5k limit.. My utilization went down but my total credit available went up ?

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.