Pulling your credit report is the first step to identifying why your score dropped 100 points.
You can identify all recent negative items that may have affected your score, leading to the drop. Remember that the most common reason for a 100 point drop is due to balance changes.
There are 6 main reasons why your Credit Score dropped.
- You spent more money with your credit cards.
- You missed a payment on one of your accounts.
- A negative mark appeared on your credit report.
- An old credit card account closed.
- You paid off loans (student, card, personal, etc).
- You recently applied for a new loan or card (and a hard inquiry appeared on your report).
- In all of these scenarios, the #1 way to find out which affected your score drop is by reviewing your report with a professional.
In all of these scenarios, the #1 way to find out which affected your score drop is by reviewing your report with a professional.
Did My Credit Score Drop 100 Points After Opening A Credit Card?
Opening a new credit card means a hard inquiry on your credit report, but it only impacts your score around 5 points. If your score has dropped 100 points, it's likely due to other issues. The best way to find (& resolve) reasons for your credit score's drop is by working with a credit repair expert. Credit Glory identifies and removes errors that impact your credit (& boost your score).
Get Your Credit Score Improved Professionally
In some cases, we recommend speaking with a Credit Repair professional to analyze your credit report. It's so much less stress, hassle, and time to let professionals identify the reasons for your score drop.
If you're looking for a reputable company to increase your credit score, we recommend Credit Glory. Call them on (833) 461-0151 or setup a consultation with them. They also happen to have incredible customer service.
Credit Glory is a credit repair company that helps everyday Americans remove inaccurate, incomplete, unverifiable, unauthorized, or fraudulent negative items from their credit report. Their primary goal is empowering consumers with the opportunity and knowledge to reach their financial dreams in 2020 and beyond.