credit scores

[Anonymous]

My ficos are all 622.  It keeps saying I need revolving credit , I appiled for 2 credit cards and got approve.  I was wondering does your credit score go up right when you get the card or do I have to wait a few months before seeing a difference.

[Anonymous]

You will need to let the new cc's age on your report before seeing the benefits. The longer the better.

And congrats for the approvals. Out of curiosity, what are they, and the limits?

[Anonymous]

In my experience, going from 0 to 2 revolving TLs caused an immediate score increase.  Yes, new accounts will hurt a bit, but FICO loves it when you have at least one open revolving account.  When you have 0 revolving accounts, the boost you get from adding a CC more than makes up for the slight damage caused by the new account.

I went from 590s to 630s just from opening two revolving TLs.

After the first or second CC though, then I have found what Sylvia said to be true.  Once a couple of CCs are established, any further CCs will ding the score a bit until they age.

This was my experience.  YMMV.

[Anonymous]

Forgot to add:  Your scores will not be affected at all until the cards report to the CRAs.  That could be anywhere from a week or so to perhaps up to 60 days or more, depending on the creditor and their reporting schedule.

I'll second Sylvia's question:  What cards did you get?