Credit went down with new accounts added

[NibblesTreats]

So I've recieved alerts stating that my score has gone down a few points since some new accounts were listed.  Once they age a little bit, will my score go back up with good use of them?  They are store cards that I got to assist with building my credit back up. 

[guiness56]

That is a sometimes normal event with new accounts being added.  Yes, your score should recover in the next 6 months or so.

[newmomnewme]

6 months?!? Why so long? Is AAoA that big of a deal? Or is the inq?

[mtrsprt]

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@newmomnewme wrote:

6 months?!? Why so long? Is AAoA that big of a deal? Or is the inq?

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A "Little" bit of both.....

[guiness56]

The new accounts need to age.

AAoA only counts for 10% of the score but say you only had one account that was 10 years old and you added 3, each 1 month old it is going to drop your AAoA from 10 years to about 2 and half years.  So in that respect, yes, it is a big deal.

[NibblesTreats]

Well that's a bummer - but  hopefully it's a temporary issue and will help me overall.  I was just a bit sad this morning to see it going in the wrong direction.

[newmomnewme]

@nibbles Chin up! When those GW start working, you will get those points right back....or if Midland gets handled first, we will be having an on-line party in your honor!!!!!

[NibblesTreats]

LOL, thanks for the encouragement @newmom!  I really wanted to look into NFCU now that we've all be talking about it more, but I worry because I've had HP's for the new accounts I've recently added so I'm not sure if they will feel it's been too many and deny me - leaving me with another hard pull!

[newmomnewme]

@nibbles, check out the credit card forum here....I think I read that NFCU can be HP happy, but they don't deny based on # of inq. The rep I spoke to on the phone today told me that they look at more than credit score for loan approval. I am still in shock over the10k CL. Unbelievable.