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Found out my credit score dropped 40 points just for a balance transfer, is that normal?
Last month I moved $3,200 from one 0% APR card to another to save on interest, and my score dropped from 742 to 702 overnight. I saw it on my credit monitoring app on Thursday and pulled all three reports afterward, the utilization on the old card looked weird because the balance was still reporting. Some people say paying off a card early triggers this, others say it's the hard pull plus new account, but I've been debt free for 6 years so this feels harsh. Has anyone else seen a big temporary drop just from balance transfer moves, and how long did it take to bounce back?
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