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CLI and new accounts

Valued Contributor

CLI and new accounts

Got 2new lines of credit 2500 & 300...... Have seen new credit drop scores and raise scores ......no change in mine.   However, I had a new line of credit last month raise my credit score.....don't really understand.  I have had a recent CLI on old acct of 3200......shouldn't this bump my score and if so by how much

2 REPLIES
Valued Contributor

Re: CLI and new accounts

New accounts hurt your scores in terms of hard pulls, new tradelines, and lowered AAoA.

 

They help your scores in terms of lowering utilization.

 

The net outcome may be hard to predict.  However, if utilization is dramatically lowered, then it may be the dominant factor.

 

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Established Contributor

Re: CLI and new accounts


user5387 wrote:

New accounts hurt your scores in terms of hard pulls, new tradelines, and lowered AAoA.

 

They help your scores in terms of lowering utilization.

 

The net outcome may be hard to predict.  However, if utilization is dramatically lowered, then it may be the dominant factor.

 


+1!



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