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Got 2new lines of credit 2500 & 300...... Have seen new credit drop scores and raise scores ......no change in mine. However, I had a new line of credit last month raise my credit score.....don't really understand. I have had a recent CLI on old acct of 3200......shouldn't this bump my score and if so by how much
New accounts hurt your scores in terms of hard pulls, new tradelines, and lowered AAoA.
They help your scores in terms of lowering utilization.
The net outcome may be hard to predict. However, if utilization is dramatically lowered, then it may be the dominant factor.
@user5387 wrote:New accounts hurt your scores in terms of hard pulls, new tradelines, and lowered AAoA.
They help your scores in terms of lowering utilization.
The net outcome may be hard to predict. However, if utilization is dramatically lowered, then it may be the dominant factor.
+1!