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frokey

Score Drops from New Card Accounts

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Hey all!

 

I've currently got 3 credit cards (all acquired this year) and have read here and elsewhere the 5-6 revolving accounts is a good goal to shoot for. What I'm wondering is how long does it take to recoup from the score drops that happen when you add new accounts? The last one I got back in August knocked me down more than I was expecting, even though it was a fairly large increase to my credit line. I'm hesitant to apply for anything else without being fairly certain it's the right move for me in building my credit scores.

 

As always, thanks for your advice!!

 

TU FICO 8 - 634

EX FICO 8 - 663

EX FICO 9 - 695

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accounts are "new" until the 25th month. congrats on the approvals.

 

why else are you scores so low?

 

IMHO the marathon is best run with 6 month in between apps when your file is thin.

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17 minutes ago, hegemony said:

accounts are "new" until the 25th month. congrats on the approvals.

 

why else are you scores so low?

 

IMHO the marathon is best run with 6 month in between apps when your file is thin.

Thanks! And I'll take that advice at the end. 

 

I've got another recent post here that can give you more insight on my picture and maybe explain the scores. Here's the link...

 

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In repair mode, your scores are meaningless. Just stay focused on the long term vision and completely ignore the speed bumps. 


Thanks Shifter! I appreciate the advice.


Sent from my iPhone using Tapatalk

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