How long to Pull Up Credit

[praise123]

Most recently applied for (3) credit cards and got them.  Now, my credit score went down.  I do have alot of inquiries, butt I figure the credit cards would help my score over the next 3 months.  I really need to keep my score up because I was approved for a mortgage and I am looking to move in 3 months when they will run the report again.  What can I do?  How long will it be before my score climbs back up?

[Anonymous]

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@praise123 wrote:

Most recently applied for (3) credit cards and got them.  Now, my credit score went down.  I do have alot of inquiries, butt I figure the credit cards would help my score over the next 3 months.  I really need to keep my score up because I was approved for a mortgage and I am looking to move in 3 months when they will run the report again.  What can I do?  How long will it be before my score climbs back up?

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Congrats on your new cards.  Those hard pulls will show up on your credit report for the next 2 years but really only effect your credit for the next year.  Odds are you will see those points recovered after about 3 to 6 months for the most part.  If you were already approved for a morgage then that too is already done it's damage as far as a hard pull and will follow the same guidelines as above.  So if I were you I would just chill out for a year or do what's called here as Gardening.  If you want to track or take  a look at your report you can do that right now her on myFico just sign up.  If what your saying about those cards and morgage are true you should be  able to obtain a copy of your reports for free from them as well.  Up to you but some of that information will more than likely take at least 45 days to show up on your report some information is instant some takes a while!  Hope this helps a little.

[praise123]

Yes, this does help but I heard that they re-run your credit before you settle.  I am not looking to move for at least 3 months because I have to sell my house.  If I run my score daily, weekly by way of myfico will this hurt my score.

[Anonymous]

Re run your score before you settle?  Not sure I understand you completely but they will not run your score just becasue your moving if that's what your asking.  They only run it for the house loan!  No you checking your score does not effect your score.  You can do it all you like, its when you apply for something like a credit card, home loan, auto loan stuff like that when an outside agency checks your score that will show up on your credit as what's called a hard pull and it does effect your score.  When you look at your own score that does nothing to your score.  So go ahead and sign up!

[praise123]

What I mean by re-run the score is that. On Monday, loan officer ran the report and said it was ok. Does an underwriter or someone else have to run the report.  He told me not to buy anything else or get new credit cards so I was assuming that he was going to run the credit report.

[Anonymous]

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@praise123 wrote:

Most recently applied for (3) credit cards and got them.  Now, my credit score went down.  I do have alot of inquiries, butt I figure the credit cards would help my score over the next 3 months.  I really need to keep my score up because I was approved for a mortgage and I am looking to move in 3 months when they will run the report again.  What can I do?  How long will it be before my score climbs back up?

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Did you get these credit cards AFTER you were approved for the mortgage?  Is your mortgage approval a 100% sure thing?  I am worried if you got these new credit cards hoping to improve your FICO before your mortgage approval is actually final, you may have done more harm than good.  

[bettercreditguy1]

Do not get any more credit at this point. Additional inquires appear as red flags to the under writers/loan officers that you are needy for credit, aka going on a spending spree, about to loose your job so as to use cc's for living expenses, etc.