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Kitgall

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Why did scores dip by 100+ pts?
Hello. I am 20 yrs old. Up until yesterday I only had Conns for credit. I got approved for 3000 and got my parents a new fridge, washer and dryer for a total of 2950. When I first applied my father checked my CS. Tr: 749 Ex: 665 (?) and the other one 658 (?). A few days later we checked my scores and they dipped. Tr: 649 Ex: 595 etc. I am thinking since I am using about 90% of my total credit my utilization is high? BUT by 100+ pts.....wow. Anyway yesterday I applied for a Capital one and got approved for 500 and I also applied for Amazon and got 800. Hopefully this new credit helps my score. any ideas? thx.

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High utilization on credit cards can cause significant damage, so work hard to get that card paid down asap. Continue to read all that you can about credit as there is a lot to know. Once you develop FICO scores, keep an eye on them too.

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