I did a bad thing, now I need advice

[kiasmith1974]

So with my recent Cap One EO success ( cli and quicksilver upgrade)and a credit boost this month from low utilization reporting, I went out and had a mini app spree.

I got approved for 4 low limit cards and a $7000 kay jewler cl. In total I have about $15000 in available credit now.

My scores are probably still low around 620-640. My current AAoA is 3 years. I have about 7 inq's added in the last 2 weeks, I will have to pull my reports next week to see what reports they are on.

How much of a drop can I expect ? and how long will this hurt ? My plan is not to use much if any of the available credit for now, and I defenitly am done applying for anything for at least a year.

[llecs]

I wouldn't sweat it. IME, I've lost 20-25 when adding new accounts but I've found that all of the points returned by a year at the latest. Just remain app free and pay off those CCs ASAP.

[myjourney]

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@kiasmith1974 wrote:
So with my recent Cap One EO success ( cli and quicksilver upgrade)and a credit boost this month from low utilization reporting, I went out and had a mini app spree.

I got approved for 4 low limit cards and a $7000 kay jewler cl. In total I have about $15000 in available credit now.

My scores are probably still low around 620-640. My current AAoA is 3 years. I have about 7 inq's added in the last 2 weeks, I will have to pull my reports next week to see what reports they are on.

How much of a drop can I expect ? and how long will this hurt ? My plan is not to use much if any of the available credit for now, and I defenitly am done applying for anything for at least a year.

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What's done is done and don't let it bother you

Yes you will see a drop in scores and AAoA as a result of the HP's and accounts reporting 

The average recovery time is between 6-9 months for a thin file 

It is now time to garden those new TL's while increasing AAoA, scores and aging those INQ's

The ding from new INQ's last for about 6 month

At 1 year the INQ's have no Fico scoring impact

But remains on CR's for 2 years 

Congrats on the new TL's 

[bigblue7722]

im just wondering what cards did you get approved for?

[kiasmith1974]

Thanks for the replys! I told myself stay put until the end of 2014.

but it doesn't sound so bad, I haven't seen a drop in scores yet due to the inquires.

In addition to the $7000 Kays (that one shocked me!) HP'd EQ

I obtained Jcrew (no HP used the shopping cart trick) SP'd EX

GAP $300 HP'd TU

Zales $800 (no use for this still kicking myself for the app) HP'd EX

Macy's $600 HP'd EX

I also was denied for

Nordstrom HP'd TU and EX

Walmart HP'd EQ I think, not showing on TU or EX

Don't plan to use any of the cl's expect maybe Macy's and with %24.99 interest, only using for the additional discounts!