Hello- Looking for some help. I am in the process of rebuliding in hopes of buying a house early 09. I currently have a score of 634. I ran a score simulation and it showed if I added another cc (this would be my 2nd ever cc, 1st is Orchard, reporting since 3/08) my score would increase to 658-670. I recieved a score watch alert the other day that my new Bofa 99/500 had been added to my report but my score stayed exactly the same, NO increase!! What gives?!!
So maybe I need to give these to cc's time to age? I have read here that score simulations are pretty accurate and I was so disappointed not to see the increase it said I would get. Thanks for the help
It's been a while since I looked at the simulations, but if I recall correctly they said that if I added a new account my scores would increase by X after Y months, not right away.
A new account often results in a slight ding, as it brings down the average age of the accounts. But as time goes by it will bring your score up.
