Did I make a mistake and can I fix it?

[Anonymous]

I was so happy to have finally got my score to 715! Well I was a little to happy and applied for probably to many credit cards! My score has taken a HUGE dive and I'm so afraid I messed up everything up and that cards will start canceling on me. My score is now 629! I'm assuming it's mostly from my AAOA? I had 8 Years and now I'm down to 1 yr 6 months! Any suggestions or is it to late?

[Anonymous]

Yikes 8 years to a little under 2 years...

I think at this point the damage is done there’s nothing you can really do. I think you should join us in the garden for the next 12-24 months ASAP! And of course keep that utilization under 10%.

[CreditInspired]

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@Anonymous wrote:
I was so happy to have finally got my score to 715! Well I was a little to happy and applied for probably to many credit cards! My score has taken a HUGE dive and I'm so afraid I messed up everything up and that cards will start canceling on me. My score is now 629! I'm assuming it's mostly from my AAOA? I had 8 Years and now I'm down to 1 yr 6 months! Any suggestions or is it to late?

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Ditto Samster's response. YIKES is right!

Hopefully, you diversified your collection. How many cards did you apply for/inquiries dinged to drop your scores 86 points. Were all of the cards approved and have they posted yet? If no, there could be additional scoring drop when they post. As Samster says, keep all cards except 1 reporting 0% utilization, and only 1 reporting at 9% utilization or less. And IMHO, I suggest you garden for 2 yrs and only do SP CLIs, which will get your AAOA to 3yrs6mos. Good luck.

[JR_TX]

Sorry to hear but First, are those CK scores or FICO8? That's almost 100 pts drop and are those for just the inquiries and did the new opened accts already reported?
There's really nothing you can do about it now as what all commenters are saying, the damage has already been done! All you can really do at this point is to garden for the next 2 years and NOT do any more new apps except for SP cli. What are the cards did you apply for and results?
Barclays and Chase to name a few are known to AA for opening new accts in a very short period of time.

[AverageJoesCredit]

Cant wait to see how many cards you apped and results.

Getting a 715 Fico or Fako, really isnt a license to go app happy as depending on your profile, apping alot of cards can have drastic affects. Someone who might be new to credit can get a really high score in 6 months and maybe have a high aaol due to au accounts so you can see where that person apping alot will see big affects.

Please update the thread on your success/ failures if you dont mind.

[AverageJoesCredit]

Also, if for instance you had an Amex and their last sp of you showed 715 and next time it shows 629, you can see how troubling that eould be to a creditor. AA can be possible, hope it doesnt happen but its good to be aware.

[Anonymous]

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@Anonymous wrote:
I was so happy to have finally got my score to 715! Well I was a little to happy and applied for probably to many credit cards! My score has taken a HUGE dive and I'm so afraid I messed up everything up and that cards will start canceling on me. My score is now 629! I'm assuming it's mostly from my AAOA? I had 8 Years and now I'm down to 1 yr 6 months! Any suggestions or is it to late?

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How many lines of credit did you have in the beginning and how did you apply for? I'm guessing only one or two in the beginning and that you went a little overboard and applied for 5-10 new ones. 

If that's true, its a good news/bad news situation. Yes, you took a hit to your scores, and there is nothing you can do about it right now. However, your AAoA will go up over time, your inqs will age off, and your utilization probably plummetted. Its a guess, but I'm guessing you went from under 3 lines of credit to over three. That will also have a positive impact on your scores.

Basically, you need to sit tight for a while. Six months is the minimum, and a year to two years would be better. But, if you do that, you'll see your scores rebound and probably pass that 715 mark.

Btw, do you have any derogatory marks on your account? That's the other thing I can think of, that you triggered a drop into a different bucket. its another thing that only time will help, but you probably won't get above around 730 with them still on your account.

[Anonymous]

Thank you for all the responses! Sorry to not get back to you sooner.

I had 3 lines of credit and only one that is actually still open that being an AU on discover
I only have one negative on my report at this moment. Its a $56 or $58 gas bill.

I applied for in this order

Victoria secret shopping cart trick $500
Care credit $6000
Capital one platinum $500
Amex Bce $1200
Citi $500

I can't believe how silly I was acting at the time. Honestly I just hadn't had any real credit cards in a long time and I got app happy I guess! I'm so disappointed in myself!

And the worst part is that Amex has not reported yet so it's only going to go down worse!

I have NO plans on Applying for anything for a LONG time. I'm to scared to even think of CLI.

My fico 8 score is showing 640.
The other fico is from the free experian and that is showing 629.

Credit karma is showing me 630 and 658.

Thanks for all the help guys! I will definitely keep you all posted and I'm just going to keep hoping that no one decides to shut me down. If they do, I know I have no one to blame but myself.

If you guys had to guess what are my odds of getting any of them shut down on me?

[Anonymous]

With a 715 you should have gotten higher limits.  Is there possibly any other derog that pulled you down.  If its simply  the number of apps. 1) garden for 1 year at least 2) watch your balances and keep a low usage % 

[Anonymous]

Thank you! I plan to garden HARD!
I'm not sure how to reply to a single comment on my phone so please forgive me

I did have another negative on my report but I was able to get it removed about 2 months ago.

I'm planning on pulling all three of my CB to make sure there isn't anything else that I'm missing. I assumed I didn't receive higher limits because I had no real history on my report but if it's possible that there is something negative I really need to find out.