Rebuilding Your Credit

[iwillacheive]

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!!

[S7]

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.

[Shogun]

That bit of a drop is nothing, just got dinged for a HP and AAoA.   That'll pass soon.  Nice CL!

[iwillacheive]

WHEW!!!  Thank you for your answers!!!  I get a bit freaky over it....I knew it was a good thing!!!  :-)

[Tran92]

Yea a small drop like that is nothing compare to what you can gain back from utilizing your new tl.