Understanding FICO® Scoring

[jcstarkey8826]

My current AAOA is 4 years with oldest being 7 years.

I just applied for and was approved for 3 new CC's... when they show up Im expecting a HUGE drop in my scores. I was going to attempt a CLI on my charter one card at the 9 month mark (when they said I was eligible for it) but I dont want to do that with damaged scores. So I'll probably wait until April to age and inqs to fall.

Sound good? Any guesses as to what my score will tank to? lol

[Jlu]

over 9000 points

for sure.

[Shogun]

You'll take a bit of a hit for AAoA and your inquiries but these are necessary to grow.  Good luck in the garden.

[djrez4]

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Jlu wrote:

over 9000 points

for sure.

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Way low.  Eleventy-billion, easy.

[SpiceIslander]

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Jlu wrote:

over 9000 points

for sure.

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I have no idea but I'm in the same boat. I have 3 new lines and know I'll take a hit for AoA & inquiries. I hoping the much lower utilization will offset the points at least partially.

[ntx]

I have 5 new lines out of 8 apps from August - only had one card & auto loan before, so thin file. BK7 in 2005.

EQ went from 684 to 672.

TU went from 688 to 696. 

Just put $3.8K on one card for income tax for last year, to be paid over the next 3 months.

I'm expecting a nosedive when that hits, but I'm in the garden for now anyway.

[creditnocash]

just a warning jc. ive read (through google searches) that they do a hardpull when you ask for a cli. 

[llecs]

Will AAoA (as seen by FICO) drop? Not enough info. Assuming you aren't rebucketed, and assuming you haven't applied for or received anything new in over a year (assumption), I'd guess 25-30 loss on FICO in total. If rebucketed, then up to 40-50 (happened once when adding 3 new TLs...was 100% baddie free and hadn't app'd for anything in over a yr at that point). This is all outside any consideration of any util change, which would impact these numbers, for good or bad.

[jcstarkey8826]

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llecs wrote:

Will AAoA (as seen by FICO) drop? Not enough info. Assuming you aren't rebucketed, and assuming you haven't applied for or received anything new in over a year (assumption), I'd guess 25-30 loss on FICO in total. If rebucketed, then up to 40-50 (happened once when adding 3 new TLs...was 100% baddie free and hadn't app'd for anything in over a yr at that point). This is all outside any consideration of any util change, which would impact these numbers, for good or bad.

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I have applied for 2 CCs in the past year before these. I have a charge off so hopefully I wont be rebucketed. Either way im interested to see what happens. My WM card shows already with no drop in score, but I have 2 more coming :/

[westo12]

Ok, it's been a week, lol. Any updates?