First of 3 New Tradelines... oomph

[seattletravels]

I'll keep the thread updated when the other 2 accounts report.

[seattletravels]

Just got my TU alert for the same card.  Only 3 points lost there.  

[Remedios]

It will be okay, neighbor! 

I hate waiting for new accounts to show up. Reminds me of the times when I'd break something, then wonder when my parents will notice and what the punishment will be...

In my case, with multiple new accounts, if any significant loss happened, it was when the first one reports.

After that, just FICO fussing with few points here and there. 

Though, my AAoA was never affected by more than a month or two. 

With two new ones reporting, older scoring models are showing signs of neurosis. 

This is from November 2019, youngest account 5 months old, 4 accounts in the previous 12 months 

Today, with two new accounts reporting since last November, now at 5 in 12 months 

[seattletravels]

Haha thanks! I think it's just bugging me because I was expecting maybe 15 points drop total once everything reported,  not a 15 point drop for one account!  The rational part of my mind knows its just temporary.  Unfortunately,  the irrational part is leading the way at the moment! 

[Remedios]

Did you go a whole year without a new account? 

That's only happened to me once, and that one was painful. 

I think it was around 15-20 points. 

There were daily utilization changes, so I'm uncertain on exact number of points, but no more than 20. Most, but not all were back by 6 month mark. 

[seattletravels]

Yes. It had been about 18 months since I opened my Delta platinum. 

[Anonymous]

You were reassigned scorecards to a new account scorecard. Whether 1 or 3, the penalty is one time and until the youngest revolver turns 12 months, you won't go back to the no new accounts scorecard and get all the points back. You should also notice increased reactivity until then, meaning larger penalties for things.

Like Rev said, unless you cross age thresholds, you shouldn't lose anymore.

[seattletravels]

Good to know.  I didn't know anything about these different scorecards. You guys are so knowledgeable! 

[Anonymous]

@seattletravels Yeah, it gets a little complicated, but you lose inquiry points maybe; then if you don't already have a revolver <12 months of age, it resets your AoYR (some call it AoYA becuz it was thought to include all accounts previously. name doesn't matter, just how it works really), which reassigns your scorecard, typically causing a 10-20 point drop.

Plus crossing any aging thresholds can take a few points. That's why getting several cards at once can hurt. It's a great strategy early on or at the beginning of a re-build tho, IMHO; but you don't wanna keep opening cards or you will kill that portion of your score.

Get them in a couple years and then sit on your hands and let them age. That's the one thing that's hard to get around. That's why again, its not a great idea habitually.

[seattletravels]

Yeah it makes sense.  I'm not in a rebuild but I still like the idea of them aging together.