Score Recovery After New Account Add

[RSCo]

I've just recently added 6 new accounts to my profile and my Fico score has taken a hit... What has been your exp in regards to how fast your score recovers?  Mine dropped 20 points with all the inquiries and the new accounts..

[LS2982]

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@RSCo wrote:

I've just recently added 6 new accounts to my profile and my Fico score has taken a hit... What has been your exp in regards to how fast your score recovers?  Mine dropped 20 points with all the inquiries and the new accounts..

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6-12 months without apping and positive history should get those points back and maybe some more.

[RSCo]

wow, that long..  I added 26k to my total available credit with these 6 new accounts... 

Oh, well.. I don't need anything new now so I'll just garden for a while.. Thanks for the advice...

[LS2982]

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@RSCo wrote:

wow, that long..  I added 26k to my total available credit with these 6 new accounts... 

Oh, well.. I don't need anything new now so I'll just garden for a while.. Thanks for the advice...

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Gardening is in your best interest you have alot of new credit and the last thing you want to do is spook your new creditors with more apps. The longer those INQ's age the less it impacts your score and the longer your accounts age the better your AAoA gets and that raises your score.

[RSCo]

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@LS2982 wrote:

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@RSCo wrote:

wow, that long..  I added 26k to my total available credit with these 6 new accounts... 

Oh, well.. I don't need anything new now so I'll just garden for a while.. Thanks for the advice...

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Gardening is in your best interest you have alot of new credit and the last thing you want to do is spook your new creditors with more apps. The longer those INQ's age the less it impacts your score and the longer your accounts age the better your AAoA gets and that raises your score.

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I was just wondering about that until you answered it... I'm going to manage what I have for now and keep fingers crossed..

[bettercreditguy1]

I'll find out next month. The first of three apps last year hits one year old in March with the next in July,and then December. (2 auto, 1 cc). I'll give you an update when possible. I am expecting 10 to 20 points upward.)

[RSCo]

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@bettercreditguy1 wrote:

I'll find out next month. The first of three apps last year hits one year old in March with the next in July,and then December. (2 auto, 1 cc). I'll give you an update when possible. I am expecting 10 to 20 points upward.)

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cool... thanks

[nicholasyud]

I went to an apps spree in NOV and now after 3 month my score slowly gain about about 10 points.

I did lost 20 points also.