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My Experience - Chase Freedom and Discover It

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indiolatino61
Valued Contributor

Re: My Experience - Chase Freedom and Discover It

Congrats. Chase has been a thorn in my side as well. I will be apping for the CSP in December, when all the presumed reasons for my denials are fixed (not enough experience, AAoA).

Message 21 of 24
BrandonSS
Frequent Contributor

Re: My Experience - Chase Freedom and Discover It

Well the inquiry from Discover hit my EQ and my Score Watch alerted me.  Ouch!  Dropped my score from 712 ro 698!  Thats a big blow for a single inquiry.   Will I have to wait a year to recover or will this new credit line with triple my old largest card, help it inch back a little?  

 

I think I know this answer but I'm rusty.  Do I need to close my old cards to help my score or should I just leave them open and let them age, especially since I shouldnt have an annual fee on any of them and no balances.

 

Thanks everyone! Smiley Happy

3/2010 - EX 555 (FAKO) EQ 542 TU 548
GOAL: 680+
Goal exceeded! - EQ - 712 TU - 701
2/2015 - 750+ across the board!
Message 22 of 24
HiLine
Blogger

Re: My Experience - Chase Freedom and Discover It


@BrandonSS wrote:

Well the inquiry from Discover hit my EQ and my Score Watch alerted me.  Ouch!  Dropped my score from 712 ro 698!  Thats a big blow for a single inquiry.   Will I have to wait a year to recover or will this new credit line with triple my old largest card, help it inch back a little?  

 

I think I know this answer but I'm rusty.  Do I need to close my old cards to help my score or should I just leave them open and let them age, especially since I shouldnt have an annual fee on any of them and no balances.

 

Thanks everyone! Smiley Happy


Closing a card won't help your score! Smiley Happy

Your score will recover from the inquiry and new accounts very fast. Give it 6 months of gardening for your score to go back up if that's what you're interested in. Smiley Wink

Message 23 of 24
BrandonSS
Frequent Contributor

Re: My Experience - Chase Freedom and Discover It


@HiLine wrote:

Closing a card won't help your score! Smiley Happy

 

Your score will recover from the inquiry and new accounts very fast. Give it 6 months of gardening for your score to go back up if that's what you're interested in. Smiley Wink


Yeah thats what I thought.  I just browsed through today and read a bunch of threads where people were canning their starter cards after moving into the big leagues and I didnt see many reply to them telling them otherwise.

 

Back to the garden I go for sure.

 

Thanks again!

3/2010 - EX 555 (FAKO) EQ 542 TU 548
GOAL: 680+
Goal exceeded! - EQ - 712 TU - 701
2/2015 - 750+ across the board!
Message 24 of 24
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