I am not sure however I can say in the past year I have refinanced my home bought a new car and opened up 4 new credit cards (my scores finally got up and I started getting good offers and I have taken advanatge of them--however my scores are in the 600s I have seen them go down one month and as soon as things start posting and reporting and avail credit start increasing the scores increase as well-I have never seen the scores suffer for long periods of time--I think after a period of time the inquires become NUMB!!! 
However I am not sure of all the details but maybe you will hear back from some of the great credit experst on here---GOOD LUCK!!!
However I am not sure of all the details but maybe you will hear back from some of the great credit experst on here---GOOD LUCK!!!As for score watch I am not sure I have not signed up for that....
There is so much to be said for patience and strategy in building great credit.
Timothy wrote:
I use a rule to not to take you avg age back to the previous year.
I say take it slow and be PICKY
@Anonymous wrote:What is the normal amount of new accounts to apply for and in what time frame? Is there a certain number like 2 per year? I have the finances today that I did'nt have when I filed bk 5 years ago so I can pay my credit card bills, but I don't want to open up too many and hurt my FICO score!
I found that if I have one inq on a particular CRA, I don't get a naughty message on screen 2 of my FICO's, but if I have two, I do. Even one is counted off, but the scolding begins with 2.
Generally, once you receive a card and start using it (very responsibly!), the points you gain for having additional credit will cancel out the points taken away by seeking credit (that's the category they use for inqs and cards younger than 12 months.) You'll generally see score recovery and improvement after 3 months or so.
You'll get a really nice hop at 12 months. I think that's what happened to my scores when I pulled on 12/1. Even though my two new accounts are a few weeks shy of being one year old exactly, it looks like I got the credit on the first day of the month. But the inqs are still being counted, though --go figure. I guess they go by exact date.
Go with what Timothy said --let the CCC's be your suitors, and be very choosy about who you go with!
How many is to much you ask? That opinion will vary, I'm sure. For me, I'm in a new credit territory I've never ventured into, and have mixed emotions about it.
Since early August, 2007 I've applied for and received 7 credit cards... 3 bank cards, and 4 store cards. In just 4 months. Shame Syl, shame on you.
Knowing that you can apply for and get cc's is a dangerous mindset to get into. Oh, the cc abuse will NOT happen. It's just the discipline of NOT applying for more cards, is where I am failing myself. But I have a feeling that is quickly tapering off. But the urge to app is daily. Time to let the cards I now have age, and increase in cl.
I think I'm getting into a good habit(for me) by stop using the cc's when they exceed 10%-20% util(until I get it back down to the target util of 5%). 10% util is easy to do with only a $400 cl on a card. Not even a tank of gas nowadays.
I knew full and well that my scores would take a dive, for every card I apply for. And yes, the scores have fallen about 10 points for each cc application. But a sacrifice I was willing to make.
OH, I'm just blabbering away! Sorry to get on my soapbox everybody. , but felt the need to express my feelings. Hoping someone may benefit from my experience.
Message Edited by Sylviatob on 12-03-2007 08:39 AM
Since early August, 2007 I've applied for and received 7 credit cards... 3 bank cards, and 4 store cards. In just 4 months. Shame Syl, shame on you.
Knowing that you can apply for and get cc's is a dangerous mindset to get into. Oh, the cc abuse will NOT happen. It's just the discipline of NOT applying for more cards, is where I am failing myself. But I have a feeling that is quickly tapering off. But the urge to app is daily. Time to let the cards I now have age, and increase in cl.
I think I'm getting into a good habit(for me) by stop using the cc's when they exceed 10%-20% util(until I get it back down to the target util of 5%). 10% util is easy to do with only a $400 cl on a card. Not even a tank of gas nowadays.
I knew full and well that my scores would take a dive, for every card I apply for. And yes, the scores have fallen about 10 points for each cc application. But a sacrifice I was willing to make.
OH, I'm just blabbering away! Sorry to get on my soapbox everybody. , but felt the need to express my feelings. Hoping someone may benefit from my experience.
Message Edited by Sylviatob on 12-03-2007 08:39 AM