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Applied for a store card for a 15% discount and lost 28 points off my credit score.
My TransUnion dropped that much just from one hard pull and the new account hitting my report, has anyone else seen this kind of hit from a single store card application?
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fisher.reese4d ago
Bet on it happening to me too with a Kohl's card. In my experience, the first month is the worst because the hard pull and the new account both hit at once. It usually bounces back within 3-4 months if you keep making payments on time and don't apply for anything else. The good news is that 28 points isn't permanent damage, your score should recover as the account ages. Just don't close the card no matter what, that would be another unnecessary hit.
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willow6724d ago
Are those 28 points really gonna matter that much in the grand scheme? Seems like people obsess over every little dip but unless you're trying to buy a house next month, it's probably fine.
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