My score is puzzeling me. Maybe someone can give me insight or advice.
I started out at the very bottom and after a year was able to raise my score from the 500's to 738. At 738 I had positive student loans (10 years) and a 8 month Visa reporting on my report. Nothing else.
In May 2013 I bought my house and added 5 more credit cards and two car loans. My score dropped to the low 600's. I also had a lot of inquires (about 6 per bureau). All of the changes happened at the end of May.
My score is sitting at 627 now. I have been playing around with carrying a balance (both high and low) and no blance at all. I can't get my score to budge. I get alerts from Myfico that says they detected on a balance but the score itself does not budge.
I haven't bought a new report since I closed on the house. I am sure my AAoA took a huge hit. This month all those new accounts will hit 6 months but from what I have read on here it won't make a difference until they hit 24 months.
When can I expect my score to rebound? I charge a little on each card and pay it off the next week to keep activity going on them. I am carrying a small balance on my Discover which is interest free.
I'd expect the start of some movement in score after all of your newer TLs are 6 months or older (so, after this month). The movement will move faster after all of your newer TLs hit a year or older. It won't fully rebound because of the AAoA. But I bet you might hit 700+ provided util remains in check, nothing else is added (or removed). It's not necessary to use your CCs all the time. Just use them every 3-4 months to keep some activity on them.
No biggie. This is expected with a lot of new TL's. In 6 months, you'll be rocking high scores no problem.