Whats the best strategy to regaining maximum FICO scoring after 3/5 successful HP's?

[Anonymous]

Whats the best strategy to regaining maximum FICO after 3/5 successful HP's? All my cards were TU HP's. I applied for a total of 5 cards this month but was only approved for 3.  I am under the assumption that my score will more than likely drop significantly. So with that said, what is the fastest way for me to gain points back while gardening till July? I currently have a total of 6 cards now. 3 recently acquired. I was at 689, assuming I will be around 650ish now. Maybe even lower. Who knows. Prior to these 3 new cards, I would only let 1 report with a small balance 1%. The others report Zero. Now that I will have 6 CC's whats the best way to report low utilization?

[TRC_WA]

I think you are over analyzing it.  One card at 1-9% with the rest at $0 is ideal.

Garden till July you'll be fine.

[NRB525]

Which cards did you get? Can you list out all the cards you now have? That puts things in perspective.

[Anonymous]

  *The 3 original cards are:

1. BOA secured CL 500

2. Discover IT secured CL 200

3. Cap1 secured CL 300

   *The 3 recent cards were:

4. Chase Freedom CL 2200

5. Chase Slate CL 2000

6. Barclay's CL 750

[Anonymous]

Anyone? Ideas?

[lg8302ch]

Time will heal the wounds....and of course responsible use of the cards and  perfect payment history 😀  ..Basically head to the garden !

[Anonymous]

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@Anonymous wrote:

  *The 3 original cards are:

1. BOA secured CL 500

2. Discover IT secured CL 200

3. Cap1 secured CL 300

   *The 3 recent cards were:

4. Chase Freedom CL 2200

5. Chase Slate CL 2000

6. Barclay's CL 750

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Occassionally taking a time out and going to the corner and garden a while so the the accounts age along with inquirys is a good option. Found it sure has helped my FICO Scores.

[Chris679]

Do exactly what you have been doing although I find its just too hard to keep all the rest at zero. I have 9 cards and don't really see a difference between 1 and 3 reporting balances. There is a drop if four report.

[Anonymous]

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@Chris679 wrote:
Do exactly what you have been doing although I find its just too hard to keep all the rest at zero. I have 9 cards and don't really see a difference between 1 and 3 reporting balances. There is a drop if four report.

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Given where your scores are, I wouldn't bother with the "all but one report 0%" thing. It's more of an upper limit technique for right before you app for something. 

Yes, your scores will take a bit of a hit. Try to keep all the cards under 10%. It might even be better if you stop using the secured cards and just use the new cards, keeping utilization under 10% if possible, but certainly under 30%. Given 6 months of aging, your AAoA should go up a bunch and most of the sting of the HPs will drop off. You may even be pushing new highs by the time July rolls around, so long as you stay in the garden. Good luck!