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I got a message that my credit score went from 715 to 684 I don't know how accurate that is. I use the amex credit watch. This month I applied and got approved for all the cards i applied for Amex Delta Gold, Amex Business Gold, Chase Freedom, NFCU Credit Card and Discover IT. 5 in total. I have no baddies, How long will it take for my score to rebound?
The recent app spree is to blame. It should rebound fairly quickly, pay your balances in full on your new cards. I just noticed your relatively short credit history in your sig, are you planning on useing the business credit card for your business or are you going to use it for your personal expenses?
@newdaddy113 wrote:I got a message that my credit score went from 715 to 684 I don't know how accurate that is. I use the amex credit watch. This month I applied and got approved for all the cards i applied for Amex Delta Gold, Amex Business Gold, Chase Freedom, NFCU Credit Card and Discover IT. 5 in total. I have no baddies, How long will it take for my score to rebound?
Hey newdaddy113!
Congrats on your new accounts! Amex's credit monitoring service provides a FAKO score but the service is good because it gives you an idea of your current profile. More than likely, you got the drop in score because of your AAoA and recently seeking credit (inqs). You should start to see a rebound around the 6 month mark. Make sure to keep your overall utility low and manage your accounts well. Hope this helps.
I have a small business on the side I will be using the Business card but not in high volume.
I'm going to ask the MODs to move this thread to the Understanding FICO scoring forum to better help you with your question. Best of luck with your credit question.
Thanks for tha advice I will do as you say. I will keep my utilization low
Shouldn't Amex Backdating help my AAOA? and improve my score?
Congratuations on the approvals! If you only had one or two accounts before this, I'm sure you'll be better off credit wise with the additional history in the long run. Like others have said, you should start to see recovery from the apps around the six month mark. The main thing is to keep your utilization down and always pay on time. From there, your credit will continue to build and get better.
@newdaddy113 wrote:Shouldn't Amex Backdating help my AAOA? and improve my score?
Hey!
It's possible but from what I can see, you added only 1 Amex that will report to your CR and be backdated. The Business Amex won't report to your personal file.
So that would be net 4 cards with 1 backdated to your personal CR. How far back was the Amex backdated?
it was backed to 2012