Recent application spree

[Anonymous]

Hello. My first post on the forum after monitoring it for the past couple years. Wanted to get an opinion on how much a hit I am going to take. Between 3/24 and 3/27 I applied for 5 different cards. 4 of which were approved. At the time of the spree my highest FICO was 804 through Experian (789 TU). One of the cards has already reported, waiting for the other 3. My oldest loa/credit was 20 years and average age is currently 8.5years (with 1 of the 4 on the reports). If I understand right, the hit has already been taken from the inquiries, but how much is the ding to the AAOA/New Credit going to affect those higher scores? I know it's hard to estimate, but if anyone has been in a similar situation, let me kmow how you faired. The 3 cards will add an additional $10000 in CL on top of an existing $18000. Before the cards are added to the reports utilization is at 7%. After it will be about 3.5%

portfolio is as follows. 

Gander Mountain Comenity $1500 

Wells Fargo $5000 (new and not yet reporting)

Paypal Syncrhony $3450

Sheetz FirstBankCard $2000

Amex Blue Cash $3000

PNC Core $2000 (20 years of banking/credit/investing with PNC)

Citi Simplicity $4300 (new and not yet reporting)

BankAmericard cash rewards $1000 (new and not yet reporting)

Cap1 platinum $2000

Walmart Synchrony $4500 (new and already reporting)

Chase auto finance $12100 balance on auto loan

Last hard pull being 3/27 I plan on gardening till at least 3/27/18 and possibly even 2019 to let them fall off completely (opinions wanted on how long to wait)

Will like to hear all opinions on mix of cards, score effects and any other comments anyone may have. I am having the post spree depression because if I was already hovering at 800, am I ever going to recover with those  4 new accounts. 

Thanks in advance. 

Ed -

[medicgrrl]

I don't think the hit will be as bad as you're imagining due to your AAoA.  You'll see your scores slowly rebound between a combination of the cards aging and your installment debt decreasing.  What is the highest utilization being reported on a single card?  I am curious though how you ended up with such low SL with your credit scores and history.

[Anonymous]

Amex 19%

PNC 30%

all others zero or minimal ammount. 

approximately when reports were pulled for app spree. 

I really am not positive but I think the low starting limits are due to my lower income. 

[medicgrrl]

If you want to try to get the points back up, try requesting a 3x CLI on the Amex if you haven't received one in the last 6 months and BT your PNC to a higher limit card.  If you can get them both down to less than 9% you may see a bump.

[Anonymous]

Just thought of something too. I am on just about all the fake score sites. Why do some of them show my age at only 1 year and others at 8.5 (oldest 20)

Do the true FICO scores include close/paid off/in good standing accounts or just currently open. 

That may be another reason as open account are only very new 

2.5 years oldest and 4 brand new

[Anonymous]

already did the 3x CLI for amex (starting limit was $1000)

[medicgrrl]

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@Anonymous wrote:

Just thought of something too. I am on just about all the fake score sites. Why do some of them show my age at only 1 year and others at 8.5 (oldest 20)

Do the true FICO scores include close/paid off/in good standing accounts or just currently open. 

That may be another reason as open account are only very new 

2.5 years oldest and 4 brand new

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I do believe FICO counts closed accounts in the AAoA.  You can pull your 3 reports and FICO scores from CCT for $1 for a trial membership

[Anonymous]

The CCT free trial is a good idea. I think I will wait till the other 3 new cards report too see what hit I took. Thanks. 

[HeavenOhio]

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@medicgrrl wrote:

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@Anonymous wrote:

Just thought of something too. I am on just about all the fake score sites. Why do some of them show my age at only 1 year and others at 8.5 (oldest 20)

Do the true FICO scores include close/paid off/in good standing accounts or just currently open. 

That may be another reason as open account are only very new 

2.5 years oldest and 4 brand new

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I do believe FICO counts closed accounts in the AAoA.  You can pull your 3 reports and FICO scores from CCT for $1 for a trial membership

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FICO and VantageScore both count closed accounts. However, if you're looking at Credit Karma, old accounts aren't counted, even though they use VantageScores.

OP, if a service is showing your account age as only a year, is it possibly showing the age of your newest account rather than your average age?

[Aduke1122]

Congrats Op on the new approvals and yes Fico counts all accounts even closed as part of AAOA , but the free sites like Credit Karma do not