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u/LovelyMelXo

▲ 0 r/personalfinance

Credit score dropped 40 points after new Amex Statement

I, 19F, got the amex platinum back in December because I travel a lot and liked the benefits of the card. I have payments set to autopay. My credit score before the card was 750, the month after I got it it dropped to 694 due to “new account age” (8 months), “hard inquiry” and “poor credit mix”.

This statement, I paid off my $800 balance using autopay and my score dropped 40 points overnight. How do I fix this? I make 100,000 a year and I don’t have any loans or debt. Why did it drop so much? Help.

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u/LovelyMelXo — 20 hours ago
19F, score dropped 40 points after new Amex Statement
▲ 6 r/CRedit

19F, score dropped 40 points after new Amex Statement

I, 19F, got the amex platinum back in December because I travel a lot and liked the benefits of the card. I have payments set to autopay. My credit score before the card was 750 (i was signed as an authorized user on my dad’s card, the Amex is mine), but the month after I got it it dropped to 694 due to “new account age” (8 months), “hard inquiry” and “poor credit mix”.

This statement, I paid off my $817 balance using autopay and my score dropped 40 points overnight?!

How do I fix this? I make $100,000 a year and I don’t have any loans or debt, so I don’t understand what’s going on. Why did it drop so much? Help.

u/LovelyMelXo — 20 hours ago