FICO ding for new accts ?

[bettercreditguy1]

Applied for a new cc, in June. It has reported, EQ Fico increased 1 point!. I have not checked TU.

[pokerpro]

personally

I applied for three new accounts. EQ Fico score watch went down a total of three points

[Anonymous]

How long does the score hit to take effect? I'll be doing an app spree with probably 3-4 prime cards here in the next month. Wondering if apping for the first card will have any effect on my CR aside from the instant inquiry added in the time it takes me to complete a few apps. 

Will it be like:

App #1 - clear CR

App #2 (a few minutes later) - clear CR + 1 HP

App #3 (a few minutes later) - clear CR + 2 HPs,

etc. 

or will it be like:

App #1 - clear CR

App #2 (a few minutes later) - 1 new revolving account + 1 HP

App #3 (a few minutes later) - 2 new revolving accounts + 2 HPs,

etc.

[pizzadude]

xi wrote:

App #1 - clear CR

App #2 (a few minutes later) - clear CR + 1 HP

App #3 (a few minutes later) - clear CR + 2 HPs,

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The above scenario is correct, however the new accounts #1, 2, and 3 won't appear for a few weeks up to a few months depending on the creditor....

[Anonymous]

Gotcha, so they only see the pulls, not whether you actually got approved or denied. Thanks!

[atarvuzdar]

Of the last 3 cards I got, only the last one caused a ding to my credit score, to the tune of exactly 1 point. My AAoA dropped from 5 yrs to 4 yrs so I'm sure that was a factor. The other CC's also added to my available credit more than the last one so they offset any new account ding better, I suppose (no increase or decrease in score when they posted).

[CribDuchess]

After reading all the responses here in this thread, it seems like there's really no way to predict what impact a new account will have to one's Fico score.  I wish there was a simple formula!

I was approved for another Amex revolver in May, and when it showed up on my reports it was reporting as opened in May 1989 (courtesy of backdating).  So my scores didn't take a hit, and actually they increased due to additional credit available which lowered my utility.  My AAofA stayed the same at 16 years.

Now I was just approved for another credit card this week and I'm starting to wonder what's going to happen to my score as well as my AAoA when it shows up on my credit reports.  I'd be perfectly happy if my scores didn't change at all.  Just don't want to lose 20+ points.

[drkaje]

@CD,

The backdate means you didn't open a new account and lowered AAoA. Whatever 5-7 point ding for the inquiry was offset by lowered utilization.

In the bigger picture, I dont' think the formula matters too much. All the things we do to look/feel prettier (score-wise) are easily figured out upon manual review, LOL!