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@shorrttyycm1 wrote:
Thanks everyone for the timeframe...and encouragement! I knew it would hurt but really didn't expect it to be that bad. I'm glad i didn't close both of the accounts i wanted to. I want to close Merrick too but after seeing the damage i think I'm gnna hold onto it. It is my second oldest account.
if there is little to no AF keeping it open is probably a good idea! your scores will go back up over time!
@webhopper wrote:Its better to have a thick file than it is to have a thin file with higher score... Don't sweat those points, you will get them back.
Planting your garden is not easy, but you'll be rewarded when they start bearing fruit later on!
That is so correct!! I opened a ton of accounts since 9/2012. I started seeing the temporary damage in my FICO scores. They dropped around 40 points each. Now, though, roughly 6 months later and 3 months in the garden, they are coming back nicely!! Since I no longer have negatives on my reports, I'm almost positive I was rebucketed as well. I'm looking forward to Onward and Upward of my Fico scores. I'm back to around 730'ish and looking forward to going higher.
You score will recover soon. IMO: It's worth it to obtain the Sallie Mae Word MC and say good riddance to Orchard.
@LesWH wrote:
@webhopper wrote:Its better to have a thick file than it is to have a thin file with higher score... Don't sweat those points, you will get them back.
Planting your garden is not easy, but you'll be rewarded when they start bearing fruit later on!
That is so correct!! I opened a ton of accounts since 9/2012. I started seeing the temporary damage in my FICO scores. They dropped around 40 points each. Now, though, roughly 6 months later and 3 months in the garden, they are coming back nicely!! Since I no longer have negatives on my reports, I'm almost positive I was rebucketed as well. I'm looking forward to Onward and Upward of my Fico scores. I'm back to around 730'ish and looking forward to going higher.
just curious, what does rebucketed mean?
@shorrttyycm1 wrote:
It was so tramatic seeing my scores drop like that...after all my hard work...but yea the SM World mc is a sweet card!
Merrick has a super low limit with $59. AF. SO ready to close it but not at the expense of any more points.
Just curious, for those who experienced drops cause of new accounts. You say that after 3-6 months your scores came back...do you mean you got all of your points back at that time or you got almost all.
I got most of them back if all of them. It depends on other factors and changes on your report not counting the new accounts.
I just killed my AAoA from 18yrs down to 6yrs with 5 new cards this year. Lost 50+ points end of January/beginning of February but got all of it back this month with the same low util now. So assume it will not be too hard on you either. Good luck. Looks like Fico liked the much higher CL and made up for the loss of AAoA?