How long does your score take to go up after a new account is opened

[Slabenstein]

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@Thomas_Thumb wrote:

Now you have to get a grip solo.

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[jrocco71]

That makes absolutely ZERO sense.  ANY increase to your available credit will result in a de facto decrease in your utilization rate.  Period.  Sure, if all your cards always report as 0% (unused) then yeah, it won't matter but "carrying enough balances?"  That's totally asinine.  No one needs to carry a balance for their card to report even 1% utilization -- which is more than enough for ANY new additional credit to have a positive effect on the utilization factor of one's score calculation.   

[Thomas_Thumb]

Utilization has banded ranges for scoring. If utilization changes but stays in the same band, no impact on score.

For example, if you have $100k in CLs with an aggregate utilization of 4%, adding $300k in CL would not increase score. Utilization levels of 4% and 1% are in the same band. However, if aggregate utilization had been 12%, adding the $300k would increase score. Dropping to 3% UT from 12% crosses a threshold into a higher rated tier.

If someone practices 1% UT reporting already, adding to CL won' t increase score. However, it can reduce the need to micro manage payments and provide added flexibility when making purchases.

For the most part I practice AZE2 - AZE3 and balances report under 9% of card CLs naturally. I don't make early payments unless a card is likely to report 29% UT or higher and/or AG UT is likely to reach 9%.

[Patient957]

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@Thomas_Thumb wrote:

You can permanently stay in the penalty box by always having a revolver under 12 months age. Then you likely won't see a score drop opening a new account. Of course, that limits your score potential.

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But increases your SUB potential.  

[Realist]

The more credit you acquire, the more independant from utilization you become, the more immune you become.

I actually recently acquired six hard inquiries in less than six months, declined on a handful of CC's after the fact (due to system denial), and my score actually increased to 820+.  There is a perceived and anticipated formula we expect to occur, but it's not 100% factual.  

I'll take everything they give me, push all limits, but I need none of it.  Credit is irrelevant in this stage of my life.  You make your luck in life.  Push those limits.

Play the game and abuse it responsibly.