How long will it take to recover? 85 point drop...

[crownrho]

This summer, I added 4 new CC accounts after having been a AU on a card  and making on time payments to my student loans consistently  for 5 years.

I added Amex BCP, Chase Freedom, Discover, and Bill Me later all this summer. Before these accounts, my AAoA was 5 years.

Before my  Chase and BML inquiries reported, my FICO EQ was 766. Now its 681. This is about a 85 point drop.

I have 3 inquires in the last year, and the only thing that is reporting so far is discover and the three new inquries, nothing else has changed. My current util is about 8%. 

My questions are:

1) When the rest of my new cards start reporting, I know my AAOA will be decreased, but I've already took such a blow to my fico, how much more decrease should I expect?

Also,

2) For those who go on App sprees, do you all know when I can expect my Fico to start going back up? I'd like to start looking to buying a condo next summer/fall but I'm afraid my Fico score won't recover by then.

Any suggestions/advice?

[myjourney]

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@crownrho wrote:

This summer, I added 4 new CC accounts after having been a AU on a card  and making on time payments to my student loans consistently  for 5 years.

I added Amex BCP, Chase Freedom, Discover, and Bill Me later all this summer. Before these accounts, my AAoA was 5 years.

Before my  Chase and BML inquiries reported, my FICO EQ was 766. Now its 681. This is about a 85 point drop.

I have 3 inquires in the last year, and the only thing that is reporting so far is discover and the three new inquries, nothing else has changed. My current util is about 8%. 

My questions are:

1) When the rest of my new cards start reporting, I know my AAOA will be decreased, but I've already took such a blow to my fico, how much more decrease should I expect?

Also,

2) For those who go on App sprees, do you all know when I can expect my Fico to start going back up? I'd like to start looking to buying a condo next summer/fall but I'm afraid my Fico score won't recover by then.

Any suggestions/advice?

---

It happens...time heals scores and yours will start to climb over the course of the next 6 months

[Rhaeny]

Yea it sucks but like myjourney says, it will recover as long as you don't apply for anything else for awhile.  Mine dropped considerably as well last year and I recovered, but the app itch got me so now my scores have tanked again.  It's disheartening until you've been through it, but soon, if you stick around here, you will be an old pro at this and it won't bother you anymore 

[Stralem]

Just gotta wait it out, dude. But I know how it sucks.

I dropped from a 702 to a goddamn 633 in 1 month due to a combination of new cards reporting and sudden (necessary) balance increases.

My AAoA went from 4 years to 10 months.

But in I'll be back in the 700 club by years end. You will too.

[djc1puno]

Those massive point drops sure hit like a ton of bricks! But itll go back up again w time n patience...