10-09-2012 09:24 AM
Good afternoon! I hope someone can shed a little light on this. On Friday I applied (with fear of rejection) for a Kay Jewelers credit card. Thinking that they were going to deny me...they actually approved me for $5,600!!!! I was so excited! All I could think of is the drop in my CU % therefore bettering my credit scores that I have been working on!
However, on Saturday I was notified by MyFICO that because of the inquiry my score took a 7 point hit! Am I going to see a jump in my score due to the increased credit line? and if so...when?
Thank you in advance!!
10-09-2012 09:27 AM
I've read that the scores take the initial hit due to the new TL, but recover with the use and payments on the TL.
10-09-2012 09:49 AM
That bit of a drop is nothing, just got dinged for a HP and AAoA. That'll pass soon. Nice CL!
10-09-2012 10:06 AM
WHEW!!! Thank you for your answers!!! I get a bit freaky over it....I knew it was a good thing!!! :-)