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Established Contributor
Posts: 902
Registered: ‎05-08-2007
0

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

Valued Contributor
Posts: 1,794
Registered: ‎07-01-2010
0

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
Posts: 996
Registered: ‎04-01-2008
0

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!



1/28/14 EQ 817, (6/30/14)EX 821, TU 817 on 6/13/2014

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