App Spree Recovery Timeframe

[johnicek]

I asked a simmilar question yesterday, but I wanted to see if anyone might know about how long it takes to recover from an app spree.

I went from 2 cards and a $1400 TL with 6 HP's and a TU score of 673 (Using Kredit Karma. GE Pulled TU and stated 701 on my second app)

I'm now at 6 cards and a $8737 TL. I still have 2 outstanding apps (Holiday gas station. All apps are manually reviewed & US Bank Pending Message) and plan to recon 1 (Chase Freedom declined for not enough history). My TU from Kredit Karma today shows 649 with 10 HP's. There will be 11 whenever Holiday pulls (Assuming they pull TU) Also asked for CLI on Cap1 and Sam's to see if I could get it to an even number.

You could say I went a little crazy with the apps.

So next month I'll show at least 4 new accounts with high limits compared to my existing accounts. Assuming I PIF every month and keep under 30% on each card, how long roughly should I expect it to take to rebound to high 600's or 700ish? Will this take a couple months or will it take a year+? If I remember right hards stay for 2 years but only effect score for 1?

Just curious to see what others might think since I'd like to be over 700.

[subwaysandwich]

Well if you think of it this way, in two years, all those inquiries will be GONE!

[Ups77]

I applied to 8 my score dropped 60  points but I gained it almost all back in a year. Dropped my scores to 630 currently 689 but should be over 700 never week with 5 util. Was worth it trade line 69,000.

[user5387]

Negatives from an app spree are new inquiries, new tradelines, lowered AAoA.

Positves are reduced utilization.

For people with high utilization, the positives may offset the negatives immediately.

Beyond that, the inquiries don't count after a year (for FICO scoring).

For manual reviews and particular lenders, they may not like the effects of the spree, independent of FICO scoring.

Also, you may wish to ignore CK and FAKOs when evaluating the effects.

[takeshi74]

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@johnicek wrote:

Assuming I PIF every month and keep under 30% on each card, how long roughly should I expect it to take to rebound to high 600's or 700ish? Will this take a couple months or will it take a year+? If I remember right hards stay for 2 years but only effect score for 1?

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Impossible for us to say.  You're correct on the HP's.  Try calculating your AAoA and utilization before and after to get an idea of how those factors changed.  As indicated above, the hits from spreeing are the HP's and reduction in AAoA so you can determine how long it will take for your AAoA to recover.

+1 on not relying on CK other than for monitoring trends.

[Peter1142]

FICO scores also take a hit for new accounts less than 1 year old, the hit fading over that time. The effect will be higher the thinner your file.

In my experience, full recovery in about a year.

[mccallb]

All my scores got a bump at 6 months after my app spree.  It was about 50 points for me.  My 1 year mark is in may. 

[johnicek]

So this is odd. I use Credit Karma and it has the credit monitoring.

Last night it showed my score of 630 ish. Today GE reported my Sam's account opening.

Score jumped to 685? That's higher than it was before.

Is this just Credit Karma being off (I've heard that it can be off by 30+ points) or did I really recover that fast?

Oldest account (Journey) is 8 Months and 1FBUSA is 7 Months. Everything else is new.

UTIL has almost always below 30%.

[mccallb]

fico and fako can definitely be different although if the new card decreased your utilization by a lot, that may have helped