score drop or could this balance out?

[JcT21]

i had a moment of weakness and took 2 offers.  cap1 and discover miles.  will adding 2 cards hurt my score or will the combined limit of both cards (13,000) raise my score by lowering my current 14% overall utilization?  average age of accounts is at 2.5yrs.   im hoping the drop from the inq's and adding of new accounts might be offset by the utilization change.  now im kinda worried im gonna take a huge score drop.

thanks for your input :-)

[elim]

You'll find out in about a month.  When i guess my scores outcomes I am always bass ackwards.

[NRB525]

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@JcT21 wrote:

i had a moment of weakness and took 2 offers.  cap1 and discover miles.  will adding 2 cards hurt my score or will the combined limit of both cards (13,000) raise my score by lowering my current 14% overall utilization?  average age of accounts is at 2.5yrs.   im hoping the drop from the inq's and adding of new accounts might be offset by the utilization change.  now im kinda worried im gonna take a huge score drop.

thanks for your input :-)

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Doubtful. It likely will be some points, but not many points and by that I would expect something 10 or less. If this is your first INQ in 24 months, it might be more likely to happen, still likely smallish points.

It is also possible you won't see much score change at all.

Please report back when the "damage" is done

[Anonymous]

Since you are interested in a guess as to what will happen, why don't you perform two calculations tonight (based on the two new accounts):

*  Your new AAoA

*  Your new total utilization

You are right that those are the two factors at play (plus inquiries).  Do the math, then get back to us and tell us what it shows.  Even better, do the math, tell us how much each factor has changed, and then give us your guess as to what the change might mean.  That will help you learn how to assess choices you make calmly and panic less.

[SouthJamaica]

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@JcT21 wrote:

i had a moment of weakness and took 2 offers.  cap1 and discover miles.  will adding 2 cards hurt my score or will the combined limit of both cards (13,000) raise my score by lowering my current 14% overall utilization?  average age of accounts is at 2.5yrs.   im hoping the drop from the inq's and adding of new accounts might be offset by the utilization change.  now im kinda worried im gonna take a huge score drop.

thanks for your input :-)

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They will balance each other out.... Whether the downward pressure and upward pressure will be equal is impossible to predict, but I don't expect a "huge score drop".

[Aahz]

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@JcT21 wrote:

i had a moment of weakness and took 2 offers.  cap1 and discover miles.  will adding 2 cards hurt my score or will the combined limit of both cards (13,000) raise my score by lowering my current 14% overall utilization?  average age of accounts is at 2.5yrs.   im hoping the drop from the inq's and adding of new accounts might be offset by the utilization change.  now im kinda worried im gonna take a huge score drop.

thanks for your input :-)

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So, assuming your signature is accurate and you're at 14% utilization ($12,054 on $86,100 in credit), then your utilization will only go down to 12% (technically 12.2%).  That's not going to give you a utilization bump.

Sorry, but you're definetly looking at a drop from the two new accounts.  But, as others said it won't be a "huge" drop.

Paying off $3,135 of that debt will bring your utility down to 9%, though and that should give you a bump.

The good news is that since you characterize this as "a moment of weakness" it seems you don't plan on using your scores anytime soon. And, of course, they'll rebound - hopefully before you need them again.

ETA: Also, they shouldn't drop your AAoA below two years, so no loss there - just longer until you receive a score boost from AAoA.