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Bonus points

tag
Anonymous
Not applicable

Bonus points

I thought opening a new cc account would ding me, just the opposite happened.

picked up 2 points with utility going from 18% to 13%.

 

Message 1 of 3
2 REPLIES 2
haulingthescoreup
Moderator Emerita

Re: Bonus points

There was probably a ding, but it was canceled out by positives. So you have a net score gain.

Is your credit young or thin (few accounts)? If so, your scores would probably improve immediately, because the scoring formulas "want" you to have 3-5 cards.

And the change in util might well have helped as well.

Congrats on the new card!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 3
Anonymous
Not applicable

Re: Bonus points

If your current AAoA is pretty new, then new accounts have less impact on that number.  Also, as hauling suggested, the reduced utilization and increased number of accounts toward the preferred number of accounts probably helped at this point.
Message 3 of 3
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