
Credit score dropped over 70 points since Feb- got a new card but is it supposed to be this big of a hit?
I had an 838 in Feb (experian FICO 8) and as of today it’s a 766. I signed up for a new card in April.
It was a little odd why I had a 30 drop but I was still in the 800s so I was not concerned- now it’s beginning to look worrying.
I have been having outstanding balances on my statements, but I pay those off immediately and it says my payment history is not the problem on my Amex FICO profile. As for credit length- this has always been low since i only started my credit 4-5 years ago. Has anyone experienced a similar drastic drop in their score after opening up an account?
Feb - 838
March- 802
April- 783
Today, May- 766