How long to recoup points after a spree?

[coffeepleeze]

I went on a spree at the end of june trying to increase my file & lower util by increasing avail credit. Only had a $300 cap1 and a $500 hsbc.  Picked up $600 credit one, $600 fingerhut and $1000 barclays rewards.  Applied for many more but got denied on all.  On a few of the fako sites, i've lost points, the highest being -20pts.  EQ Fico is holding steady but I'm afraid the mortgage model of TU & EX might flucuate as they're the ones that took the hit on my fako reports - and i'm still in the mortgage pre-approval phase....  Waiting to do a rapid rescore once dispute comments and a paid collection are removed.  How long does it take scores to rebound after a spree?  Thanks!

[DaBears]

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@coffeepleeze wrote:

I went on a spree at the end of june trying to increase my file & lower util by increasing avail credit. Only had a $300 cap1 and a $500 hsbc.  Picked up $600 credit one, $600 fingerhut and $1000 barclays rewards.  Applied for many more but got denied on all.  On a few of the fako sites, i've lost points, the highest being -20pts.  EQ Fico is holding steady but I'm afraid the mortgage model of TU & EX might flucuate as they're the ones that took the hit on my fako reports - and i'm still in the mortgage pre-approval phase....  Waiting to do a rapid rescore once dispute comments and a paid collection are removed.  How long does it take scores to rebound after a spree?  Thanks!

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If you are apping for a mortgage you should have not went on an apping spree for all those cards. Lenders do not like that. It will take atleast 6-12 months to let those cards age. Getting that many credit cards can affect your AAoA and lower your score even more. 

[coffeepleeze]

I Knowwww...     Originally I didnt think there was a chance I'd ever get approved right now but met with a LO anyway to find out where I needed to be for what program, etc, etc.  We pulled my mtg lending scores, and my mid was 640 and my top was 653.  Much higher than the fakos.  So I'm in the ballpark but not in any rush.  So if my scores continue to drop from all the HPs, I can wait it out and use this time to build some savings.  Was just wondering generally how long it can take to rebound.  Hindsight...

[myjourney]

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@DaBears wrote:

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@coffeepleeze wrote:

I went on a spree at the end of june trying to increase my file & lower util by increasing avail credit. Only had a $300 cap1 and a $500 hsbc.  Picked up $600 credit one, $600 fingerhut and $1000 barclays rewards.  Applied for many more but got denied on all.  On a few of the fako sites, i've lost points, the highest being -20pts.  EQ Fico is holding steady but I'm afraid the mortgage model of TU & EX might flucuate as they're the ones that took the hit on my fako reports - and i'm still in the mortgage pre-approval phase....  Waiting to do a rapid rescore once dispute comments and a paid collection are removed.  How long does it take scores to rebound after a spree?  Thanks!

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If you are apping for a mortgage you should have not went on an apping spree for all those cards. Lenders do not like that. It will take atleast 6-12 months to let those cards age. Getting that many credit cards can affect your AAoA and lower your score even more. 

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+1 

I'm sorry to say but looking at your scores you may have done some serious damage to AAoA and scores which may not recover for the next 6 months minimum..

During the mortgage process its best not to do any apps 6 months prior to the application and you will probably see further drops in scores when those accounts hit CR

of course YMMV and in some cases CR's react with score increases but usually that's with thicker files and higher score profiles.IMHO

Wishing you the best and hope it all works out in your favor

[coffeepleeze]

the new cards have all hit my cr's and my goal in the next few weeks to have all at or close to $0 except 1.  I'm also an AU on one other existing card with my son that i'm paying for anyway from car repairs while he was away at college, so my total combined CL is $4100 now and should have total balance down to 10% in the next few weeks... fingers crossed that might help.  And if it doesnt, maybe its divine intervention telling me to wait and Save!   Thanks for the input guys!!

[DaBears]

Anytime. Let those cards age, keep util between 1-9% payment history is key. 35% comes from payment history. Best of luck and keep us posted.