Good afternoon! I hope someone can shed a little light on this. On Friday I applied (with fear of rejection) for a Kay Jewelers credit card. Thinking that they were going to deny me...they actually approved me for $5,600!!!! I was so excited! All I could think of is the drop in my CU % therefore bettering my credit scores that I have been working on!
However, on Saturday I was notified by MyFICO that because of the inquiry my score took a 7 point hit! Am I going to see a jump in my score due to the increased credit line? and if so...when?
Thank you in advance!!
I've read that the scores take the initial hit due to the new TL, but recover with the use and payments on the TL.
That bit of a drop is nothing, just got dinged for a HP and AAoA. That'll pass soon. Nice CL!
WHEW!!! Thank you for your answers!!! I get a bit freaky over it....I knew it was a good thing!!! :-)