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Re: One year Mark for new accounts = credit score boost???

New Contributor

Re: One year Mark for new accounts = credit score boost???

thanks for your swift reply!

 

ahh okay dokie. guess I'll have to wait a year and see bahh


EQ: 658 FICO / EX: 600 FICO / TU: 649 FICO / EQ: 637 USAA FAKO / EX: 637 USAA FAKO / TU: 700 USAA FAKO
Credit Karma: 590 / Credit Sesame 572
Positive Open Loan Tradelines: DCU (auto loan) $31000 / One Student Loan
24 Cards TOTAL = 9 Store cards / 4 Secured Card / 11 Credit Cards / Cards In Wallet - BoA Americard / NEWEST CARD - Blaze Mastercard
goal by 2015: UNDER 8000K in credit card debt
Message 1 of 4
3 REPLIES
Valued Contributor

Re: One year Mark for new accounts = credit score boost???

Pay attention to when AAoA crosses year marks as that gets you boosts.

 

1 year mark on inquiries really lessens their impact on score.

 

The new account hit is usually pretty much gone by 6 months and majority by 3 months.

               LIMITS IN CARD DESCRIPTIONS
Message 2 of 4
Frequent Contributor

Re: One year Mark for new accounts = credit score boost???

My scores increased six months after my new accounts, but as others have said, its a ymmv situation. You'll probably see an increase after six months though.
Message 3 of 4
Super Contributor

Re: One year Mark for new accounts = credit score boost???

It all depends on the size and contents of your CR's 

I have seen 3 different reactions 

 

1) scores decreased dramatically -21 and it took 4 months to recover (3 card app) June 2012

2) scores increased +9 (2 card app) December 2012

3) scores only suffered minor decrease and took 2 month to recover -8 points (4 card app) June 2013

 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 4