Received an EX alert this morning that Navy Fed is reporting my new Visa with a $14K CL. 3 point drop.
This should come back with much improved utilization right? Typically I have had 7-9% util report each month, but now that my combined CLs are $20K and I don't plan on changing my usage I will report 1-2% each month? It hasn't reported to TU & EQ yet but I am sure it's not far behind.
Current Score: TU: 674 | EQ: 722 | EX: 717 | Last Inq. 2/16/15...Locked Up in The Garden
@Anonymous wrote:
Basically a normal happening when a new inquiry (HP) and a new account first appear. The inquiry will loose its downward point affect fairly rapidly (three months plus). As to the Average Age of Accounts that one may take longer depending on your credit file. When I replaced my beginning starter cards a few years ago with real main line prime cards my AoA dropped a couple of years and it took considerable time for the hits to loose their affect on my credit scores. Note, every credit file is different so the affects can vary.
Thanks! This is my first new account in quite a while apart from a Comenity store card that is 18 months old. My AAoA is 7.5 years without this new account so I don't think it will impact too much. I've tried to be very judicious about not opening new accounts since I had enough existing credit to work with to rebuild.
The new credit card is now reporting on all three CRs so impact to scores are:
EQ +1
TU +1
EX -3
Should get a small boost when my other credit cards report on the 10th which will give me about 1% util.
