Korey wrote:makes sense. I usually don't use my kohls charge, but I do on occasion to get my scratch offs/employee discount. what should utilization be on each account?
1% utilization usually is most helpful to boosting scores, 10% to 30% is also good, but try not to have a 30%+ utilization on any card reported.
flan wrote:Twenty points is about right for a new account drop. There are two components to that drop. One is the new account itself. The other is that the average age of accounts drops, and with a short thin file, that's a big drop.
I do agree with these factors. Now my concern is I have new account as well, but score dropped from 740 (day got approved, May 16th) to 729 (May 29th). I also have two other accounts and the average age of them is same ~1 year (one around 20 months, the other around 4 months). The OP's score dropped by 17 points but mine only 11.