Can your credit score raise in a few days?

[Anonymous]

I have signed up for scorewatch here on myfico and the other day I signed in and it was 568, and today it was 570. I thought opening a new CC lowers your score, and mine went up two points! Don't really wanna question it, but I'm just curious why it went up instead of down. It is nice thou!

[Anonymous]

I made a mistake. lol. it was 563 in Dec, not 568

[Anonymous]

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@Anonymous wrote:
I have signed up for scorewatch here on myfico and the other day I signed in and it was 568, and today it was 570. I thought opening a new CC lowers your score, and mine went up two points! Don't really wanna question it, but I'm just curious why it went up instead of down. It is nice thou!

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There is no steadfast rule that opening a credit card will lower your score. For example, if you have high utilization on your current accounts and your new credit line lowers your over all util, your score may improve. I opened 2 new accounts about 6 months ago and actually gained 23 points. YMMV of course.

CB

[Anonymous]

No, I don't use nearly all of the credit that I have. So I know thats not it, but who knows! I'm just glad that it went up!

[entmike]

My credit score shot up about 40 points (I was also in the 500s range) back in Jan 2006 when I obtained a secured credit card.  I was expecting to have to spend time demonstrating responsible credit usage, however I was pleasantly surprised to see an instant bump.  I have no idea why, maybe because it was my first line of credit in over 5 years (since I'd destroyed my credit in college).  Anyways, congrats!

[Anonymous]

My score jumped ~20 points just a few weeks ago when I signed a new car note - conversely, when I paid off my last car note ('08), the score stayed flat...go figure. Just when I think I have this thing figured out!