@Anonymous wrote:
Im going to obviously stop applying as the hard inquiry will eat me.
Keep in mind that it's not just the HP's but other factors such as AAoA as well.
@Anonymous wrote:
I have used the cap1 to no more than 10% and paid it off, I am not going to open any one card more than 10% and will pay off in full every month.
While you can limit spend to manage revolving utilization you don't need to do so. You can use whatever you need/want and then reduce the balance prior to report date. 10% of such small limits can be difficult using the spend restriction approach.
@Anonymous wrote:
But... here is my question. I know the inquirys will hurt me.. I literally expanded my credit pool by 7 times. My average credit is 5.6 years old and the new cards will lower that? What should I see in scores when this all reports next??
We can't tell you that but you can calculate the change to your AAoA. If you don't want to do it manually you can use Excel or any of a number of online AAoA calculators.
@Anonymous wrote:
I played with simulators and they say 700 to 715 tops. Wishful thinking?
They're not reliable. You also have to consider that there isn't just one scoring model used by creditors so even if one simulator was accurate it could not be accurate for all scoring models.
My guess is that you might see a bit of a hit in the relatively short timeframe since you had a thinner file. All the recent changes will look riskier with a thin file as well. I always suggest focusing on the data in your reports versus the numbers.
