Score Recovery Times...

[indiolatino61]

Hello all...I was wondering what experience you've had in the time it takes to recover from a hit to your FICO scores after opening new accounts. After my Amex and Discover started reporting, my Walmart score fell 32 points. A month later, my score recovered by 13 points, which is close to about a 1/3 of what I dropped. If this trend continues, it would take about 3 months for my scores to rise to the level they were before the new accounts. Is this about right, or is it just me...lol? Thanks.

[danielodonoll]

2 months give or take

U will not gain everything back because of the AAA but the 80% will recover

[myjourney]

Each case is different but as long as you follow the general rules 

UTL 1-9%

pay on time

no more apps

you should recover in no time. 

Good luck

[L0RDAVENTAD0R]

I opened 8 new accounts last week so I don't want to check my score for a while...

[YahComb]

new accounts can hurt score for 3,6, 12 months regardless if AAoA changes or doesn't(rounding down means your AAoA can drop many months but as far as fico is concerned it can stay the same-ie 3 years 10 months, with a new account down to 3 years 1 month, to fico it's 3 years either way)

[danielodonoll]

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@YahComb wrote:

new accounts can hurt score for 3,6, 12 months regardless if AAoA changes or doesn't(rounding down means your AAoA can drop many months but as far as fico is concerned it can stay the same-ie 3 years 10 months, with a new account down to 3 years 1 month, to fico it's 3 years either way)

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Yes very correct/good advice YahComb

[MovingForward_2012]

I.recently got a new car lease, mortgage, and 3 CCs. All of the apps occurred between 11/15/12 and 2/13/13. I increased my utilization up to 75% during this time. My starting score was 703 and the lowest my score fell during this time was 27 points to 676. My score just updated to a 680 a couple of days ago after the new balances reported on my CCs after paying them down from 75% Util to 39% Util. So I gained a measly 4 pts from paying my Util down by a lot. So I am guessing the new accounts have dropped my score 23 pts. I don't know how long it will take to get back in the 700's but I'm guessing by Sept when the newest account will be 6 months old.

[solstice00]

Do new accounts always have a negative impact on the score?

I have oped 5 new accounts in the last one month and my score first dropped from 671 to 652 and then shot up to 712 when the new accounts were added.

Or will the score drop come next month after the first statement? 

I am a little scared

[MovingForward_2012]

Not always. My score stayed 703 after an auto loan was paid off and a new lease assumed. My score also stayed the same when the Chase Freedom was added. But the HP for ADT was the tipping point and caused the first drop in score and when the BB CC was added, my score dropped a little more. When my mortgage started reporting last month, my score dropped another 8 pts. I don't think I have seen any point increases from new accounts since the rebuilding phase. I think this happens sometimes when new accounts are added due to fico rebucketing. I wouldn't expect a score drop later on unless you add inquiries or increase Util.