@Anonymous wrote:
@SecretAzure wrote:
@Anonymous wrote:Ok, after years of low scores because of some late pays in 2009-2010 I was finally able to qualify for some prime cards. I applied and got Freedom ($6K), CSP ($24K), BoA ($5K) and US Bank ($5K). I was SO excited and thrilled. Knew from reading info here that I would take a score hit for inquiries and AAoA, but wow wasn't expecting this big of a hit. Went from Experian 776 to 719
Utilization is lower than when I applied (2% now vs. 4%) so it's not due to other factors. Any idea how long it will take to regain some of those points back?? I really need some dramamine for this roller coaster ride called FICO scoring.
You got 4 cards, meaning 4 inquiries and probably destroyed your AAOA and thought it wouldn't drop this much? Consider exactly how much your AAOA dropped, 4 cards at an age of 0 months. Even if you had an AAOA of 4 years with 4 cards and got all of these your AAOA would be 1 year and that's considerably less than 4 years AAOA. It's not the most important thing but it is worth about 10% of your score and your score dropped about 8% so it makes sense.
Hi SecretAzure -- I had an age of accounts that was ~13 year years and my new apps took me to 4.5. I knew that having less than 2 years AAoA was a big hit but thought that since I was still over 4 years, the hit wouldn't be as big, but point taken -- should have known it was coming.
As pretty much everyone else has stated, you'll be golden in about a year. 
Congrats on all the new cards though, get all those bonuses!!
Must garden until 2/1/2022 to hit my goal AAOA. 
@SecretAzure wrote:
@Anonymous wrote:
@SecretAzure wrote:
@Anonymous wrote:Ok, after years of low scores because of some late pays in 2009-2010 I was finally able to qualify for some prime cards. I applied and got Freedom ($6K), CSP ($24K), BoA ($5K) and US Bank ($5K). I was SO excited and thrilled. Knew from reading info here that I would take a score hit for inquiries and AAoA, but wow wasn't expecting this big of a hit. Went from Experian 776 to 719
You got 4 cards, meaning 4 inquiries and probably destroyed your AAOA and thought it wouldn't drop this much? Consider exactly how much your AAOA dropped, 4 cards at an age of 0 months. Even if you had an AAOA of 4 years with 4 cards and got all of these your AAOA would be 1 year and that's considerably less than 4 years AAOA. It's not the most important thing but it is worth about 10% of your score and your score dropped about 8% so it makes sense.
Hi SecretAzure -- I had an age of accounts that was ~13 year years and my new apps took me to 4.5. I knew that having less than 2 years AAoA was a big hit but thought that since I was still over 4 years, the hit wouldn't be as big, but point taken -- should have known it was coming.
As pretty much everyone else has stated, you'll be golden in about a year.
Congrats on all the new cards though, get all those bonuses!!
Thanks -- Have to say, I am loving the Freedom/CSP combo. Getting 5% bonus for Starbucks has made the hit to the scores a tiny bit more bearable 
@Anonymous wrote:Ok, after years of low scores because of some late pays in 2009-2010 I was finally able to qualify for some prime cards. I applied and got Freedom ($6K), CSP ($24K), BoA ($5K) and US Bank ($5K). I was SO excited and thrilled. Knew from reading info here that I would take a score hit for inquiries and AAoA, but wow wasn't expecting this big of a hit. Went from Experian 776 to 719
It's always tough to say with FICO scores. As others have said, the higher your score is, the bigger the hit you take. So, your AAoA went down because of the new accounts. Also, assuming you had 0 inquiries, you now have four inqs, all recent. Lastly, there is always something going on in the background. While your total UTIL went down, perhaps it went up on a single card? In any event, the sting of new accounts fades over time and you should be good to go.
Well, you got some nice limits on those cards. You shouldn't need anything for awhile so your scores will rebound.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
Thanks! I am happy with the cards and limits I have, especially after debit card only for past 3 years. I do have an old Amex from 1995 that closed in good standing and was planning on apping later and trying for MSD to bring AAoA up a bit, but looks like that opportunity may be gone, so gardening I will go. Just looking for the complete package -- good cards, good limits, and high scores
Congrats on your approvals! Enjoy your new TLs.
Not to worry - things will improve with time.
I apped for an Amex card expecting to have the benefit of BD, but that's not happening. I went ahead and got a second on the day after the PRG approval. Could have saved myseld the HP but had to do some serious thinking after learning about the policy change. So I know I'm in for a score sinking. I will just have to ride out the first few months to start seeing a significant change.
Just remember that your new cards will age together, which will be helpful as time moves forward. Unless you plan to app for something soon, you should really brood about the score, which is actually still quite good,
