Why Did My Credit Score Drop After Getting A Credit Card

Credit score drop? We've got the answers.

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The most common reason for a credit score drop after getting a new credit card is due to hard inquiries. Each report pulled for the application adds 1 hard inquiry, lowering your FICO score up to 10 points. Additionally, new accounts lower your Average Age of Accounts.

There are 6 main reasons why your Credit Score dropped.

  1. You spent more money with your credit cards.
  2. You missed a payment on one of your accounts.
  3. A negative mark appeared on your credit report.
  4. An old credit card account closed.
  5. You paid off loans (student, card, personal, etc).
  6. You recently applied for a new loan or card (and a hard inquiry appeared on your report).
  7. 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.

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 (866-259-0327) or setup a consultation with them. They also happen to have incredible customer service.

Improve Your Credit Score, Today!

Schedule FREE ConsultationCall 866-259-0327

Increase Your Credit Score Today!

Schedule My FREE ConsultationCall 866-259-0327

Increase Your Credit Score Today!

Schedule My FREE ConsultationCall 800-807-4388
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