First time app spree now what??!!

[jwillvin]

OK so I went on my first app spree after spending 5 months re-building my credit. Before the app spree I had these positive TL's reporting:

Sears   CL $2200  AU

Orchard Bank    CL$300   INDIVIDUAL

Chase  CL$1300   AU

I applied for 7 cards and was approved for 5

Care Credit   CL $4000

Crown Jewelers   CL $2500

Cabelas  CL $3000

Best Buy   CL $1000

Wal-mart CL $400

I am not an AU on any of these new cards and my overall UTIL has went from 40% to 7.2%  I've already seen my EQ score drop 14 pts to 664 and I just recently updated my CR on truecredit and all of the new accts are reporting except for Best Buy. Does anyone have a guess as to what might happen with my scores??

I only added these accts to have more TL that were not AU reporting and I tried to mix it up between storecards and CC's. Also to help with my overall Util. I have a history of 2 years with no late payments ever.

Current Fico scores TU 657 (2 baddies)  EX 633 (2 baddies)  EQ 664 (0 baddies)

Looking to join the 700 club by Dec

[Anonymous]

If they are all reporting already except for the one, I wouldn't see any more of a drop in your scores. I think each month you'll gain a few points and slowly start climbing upwards so long as you keep the util down and never be late.  It looks to me like you only have one way to go from here and that's UP!

[Anonymous]

You should see your scores rebuild in the next 3 to 6 months. I wouldn't apply for any new credit for awhile though. After a year your scores should really rocket when all those inquiries come off and your accounts hit their 1 year birthday. Congrats on the new accounts and on rebuilding your credit!

[Anonymous]

aftering paying on time for about 3months u will get those points back possibly more by the 5th 6mth mark