opening 3 credit cards in the same day

[Anonymous]

hello i just opened 3 credit cards in the same day. I opened up a capitol 1 platinum card, the discover it card, and chase freedom card. I got instantly approved for all 3. my question is will this effect my credit score negatively in the short term and how long will it take to rebound if used responsibly of course? thanks and i had no hard inquiries prior to these cards and all 3 of my scores were around 730

[Anonymous]

I wanted to do this, but I was under the impression that I had to get cards one by one.

[longtimelurker]

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@Anonymous wrote:

hello i just opened 3 credit cards in the same day. I opened up a capitol 1 platinum card, the discover it card, and chase freedom card. I got instantly approved for all 3. my question is will this effect my credit score negatively in the short term and how long will it take to rebound if used responsibly of course? thanks and i had no hard inquiries prior to these cards and all 3 of my scores were around 730

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You will get a hit for the inqs (maybe shared out between the CRAs) which hit score for up to year, but impact less during that year.   You will get an AAoA hit for the the new accounts on all CRAs.  The magnitude depends on how many others accounts you have and how old they are.  The fewer the account, the bigger the hit

[Anonymous]

Congrats on the new cards! You'll see a dip when they report, due to the HPs and the decrease in AAoA. Conversely, opening new accounts can also help your score somewhat if your utilization had previously been on the higher side. But we can't really predict how much they'll affect you and for how long without knowing what the rest of your report looks like and how old your other accounts are. Either way, they'll rebound over time

[Anonymous]

Congrats!

[Anonymous]

i have one wellsfargo credit card that has a perfect payment history that i opened in 2011 and only one auto loan that i opened in June. so my credit age before the 3 cards is about 2 years old

[Anonymous]

Congratulations! Don't worry. Enjoy your new credit lines.

[Anonymous]

thanks im just nervous because i dont want to drop down into the 600s. i guess i should have done some more research first before applying for 3 cards in the same day

[Anonymous]

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@Anonymous wrote:

thanks im just nervous because i dont want to drop down into the 600s. i guess i should have done some more research first before applying for 3 cards in the same day

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The impact on your scores isn't going to be any different than if you applied for 3 cards all on the same day, in a week or three weeks.  The inquiries and affect on your AAoA will be the same.

[Anonymous]

you probably won't lose 30 points but if you aren't looking at using your credit very soon then don't worry. it'll rebound. it's just a score...