@mountainmom wrote:So I made a huge spreadsheet tonight listing all my accounts by credit bureau to determine what impact my 3 new lines will have. Amazingly, very little since I have nearly 30 accounts (including open and closed.)
I spoke with amex today about backdating my account. I am led to believe they will be doing it (not updated on the sight yet.) I calculated it both ways.
I am currently 6 yr on EQ and 5 on the other two. I think it will stay the same, at MOST drop back a year on each since FICO doesn't round up.
So, if my AAoA stays the same, should I still expect a drop in my scores or should it stay fairly even? Im thinking it may even go UP since I've almost doubled my limits to 30k.
No one can guess what will happen as we don't have enough info:
1) Limits, by themselves, have nothing to do with credit score. Reported Utilization, which takes limits into account, effect FICO score. So if you reported utilization goes down because of the new limits, then your score will increase from that.
2) If you AAoA goes down by year, then your score will be slightly affected negatively, but remember FICO always rounds down and only whole years help/hurt.
3) New accounts will have fairly temporary negative effect on FICO as well.
LIMITS IN CARD DESCRIPTIONS