Re: New credit ding?
01-05-2013 09:15 PM
Your ding on your score has to do with a few things. First of all it is a credit inquiry, having those will lower your score. Second, New accounts lower your account age average. Lastly If you carry a balance it could lower your score due to Credit Utilization. So to say it will come right back on a set time frame is hard to say. After I have opened accounts it has taken between 6 months to a year to come all the way back! My credit history is long so a new card doesn't afftect my credit age much. If you are new to credit then a new cc could cut your age in half.
My opinion around 6 months you should start to see the increase again.
Hope that helps!
Starting Score: 719
Current Score: 809
Goal Score: 825
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