ms_pammy Posted May 22, 2007 Report Share Posted May 22, 2007 Hi AllIn building our credit we have decided to apply for a CC and was granted one from BOA...I have read that your Credit Score drops a few points when you first open a CC, however my hubby's score before the CC with Equifax was 706 and now is 644 thats a 62 point drop...is this normal? TransUnion didnt change and Eq dropped 14 points.Anyone have idea's or suggestions? Thanks so much Link to comment Share on other sites More sharing options...
kevin3344 Posted May 22, 2007 Report Share Posted May 22, 2007 I would say no. I've added a car, mortgage and credit cards over the years and have never had a drop of more than 5-10 pts for a new account. Sometimes it goes UP 10-15 pts...I think it's a misnomer to think it always go down. So a 60+ pt drop means something else is going on.Come to think of it, a new account might lower the average age of ALL of his accounts so while it's possible, without seeing the file I couldn't tell you. I guess it could happen though. Like I said, I've been doing this a while and never seen it, so...possible, probably. How likely however is another story. Link to comment Share on other sites More sharing options...
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