topic Re: once a score drops after new TL's reporting, when will it bounce back? in Understanding FICO® Scoring

once a score drops after new TL's reporting, when will it bounce back?

Anonymous — Sun, 11 Oct 2009 07:51:26 GMT

Lenght of history: 8Years

AAOA: 1.8Years

Total a/c's ( 9 inclucding 3 new), all revolving

Now 3 new accounts (CC) since last month start reporting, score dropped from 719 ( 3 weeks ago) to 651 as of today( EQ )

when I can expect to bounce back?

Re: once a score drops after new TL's reporting, when will it bounce back?

llecs — Sun, 11 Oct 2009 09:49:26 GMT

Most of the points will come back within 6 months with a final boost at the one year mark. You should recover fully by then.

Re: once a score drops after new TL's reporting, when will it bounce back?

marty56 — Sun, 11 Oct 2009 12:06:25 GMT

I added a new CC account but my score didnt change. Did your AAoA change? Also did any of the new acounts report a balance?

Re: once a score drops after new TL's reporting, when will it bounce back?

Anonymous — Sun, 11 Oct 2009 14:23:06 GMT

Your new accounts tanked your AAoA. Do you have any idea what it was before your new accounts reported? Getting it back over 2 will help and won't take too long. But if it was 3 or 4 before your appy spree it's gonna take a while. (It will go up one month per elapsed calendar month.)

Re: once a score drops after new TL's reporting, when will it bounce back?

Anonymous — Sun, 11 Oct 2009 17:55:59 GMT

the AAOA was 2.4 years before the new accounts showed up,one thing I didnt mention My util went to 36% from 16% due to new accounts showing balance which is now paid and util should be around 5% once all the new bal's get reported

Re: once a score drops after new TL's reporting, when will it bounce back?

Anonymous — Sun, 11 Oct 2009 18:23:42 GMT

AAoA: 2.4 y -> 1.8 y

UTIL: 16% -> 36%

Both changes FICO score unfriendly, but both very fixable. One will take time, the other money/time. Not the worst problems to have.