I had my two new card post on CreditExpert and lost over 40 points! I plan to pay them off by the end of the month, will my scores rebound then? I also am not going to apply for anything else for six months. I also talk with my credit union and they agreed to remove a negative credit line, I disputed it and they are just not going to respond and have it deleted. I know my credit had improved because I have had several deletions, but it is still depressing to see your score drop.
The new accts dropped your average account age and that hurts sometimes. As those accts age, you will get points back.
Re: Score Dropped :-( I had 30 points lost on Equifax from 6/15 to 7/1...I think it's due to two new cc's reporting for the first time, no other changes that I can identify. Ouch for the short term, positives I think for the long term. <<I only have one installment loan and a JCPenney card, so I need to have more of a mix. >> I sympathize with you.
This WILL help your score rebound. It sounds like your cards reported with balances on them. This, along with the new debt, may have contributed to your lower score. And getting rid of the derog may help too.
