Quick question about CC

[Fresh101]

Hello everyone, I am in the middle of rebuilding my credit. My credit score keeps going up little by little but I do not have any revolving account. My question is, when I get a secured card, my score will go down maybe 30-40 points, but when should I expect positive points to be reflecting? And perhaps how long of a wait to atleast go back up to what I was?

Example: Lets say, I get a SC of $1000 Limit, my score goes down 35 points, when or how long will it take to get the 35 points I just lost?

Thanks in advance

[dalasdon]

i was under the impression that your score goes up when you get a new cc

[Booner72]

The scores go up, usually, for new cc's if this is your first revolving - as Types of credit is now affected in a positive way.

They can also go up if the new CLI helps your utilization.

They can go DOWN if this lowers your AAoA, inquiry ding (usually small to none) and new credit.

i think in OP's case it will go up, and no one can predict how many points you will get.  And from what I've gathered, yes, the points come back after the initial loss for inquiry/new credit, but it probably takes some months.

[pipeguy]

With no revolving accounts yet and a "secured" cc for $1000, your score should go up because of the addition of a revolving account - plus a decent credit line for a CC ($1000 to start). IMO, even if you only had a $300 credit limit, the addition of a revolving account to your mix should be a plus.

I don't know how a secured CC reports on your credit report, I assume as just an open account (never had a secured CC so I'll yield to those with more experience on those).

[pizzadude]

Usually it is a good for your FICO score when your first revolving account shows up, however it will also lower your AAoA as well, so it is hard to predict.

A secured card is viewed identically to an unsecured card by FICO.

[Fresh101]

Thanks everyone, for all the reply. Can someone please tell me what does AAoA means? I notice a few reply saying that it might lower my AAoA.

Thanks in advance

[currentlywinning]

AAoA= average age of accounts

[MarineVietVet]

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@Fresh101 wrote:
Thanks everyone, for all the reply. Can someone please tell me what does AAoA means? I notice a few reply saying that it might lower my AAoA.

Thanks in advance

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Your AAoA is the sum of the ages of every account (except CA collections and public records) on your report, whether open or closed, calculated in months, divided by the number of accounts and then divided by 12. I use the division by 12 to make it easier to convert into years. This is measured from the time each account was opened until present.

You’ll need to figure the age of each account, open or closed, on each report. If all three reports are identical (very unlikely), you're in luck; otherwise, you'll need to run this for each report.

ETA: You can never have an AAoA of less than one year. This is built into the system.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Fresh101]

thanks for all the reply guys...