How much score drop

[Red1Blue]

How much score drop would I see.

Currently TU 710 / EQ 723

New Lines Added

Penfed card

penfed thrift

GEMB / Universal Amex

Amex Plat

Amex Delta Gold

AAoA should increase due to Amex Cards adding about 16 years each.

[RobertEG]

I am not sure I understand.  You just added 5 accounts?  Are the AMEX additions as an authorized user of those accounts?

Are the other three brand new accounts, with zero lenght of history?

What are the CLs on each, and how do they improve your % utiil as opposed to affecting your length of credit history and new credit?

FICO is a multi-category analysis.  Actions in just one category, such as new credit or length of credit, cant be used alone to predict impact on overall FICO score.

[Red1Blue]

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@RobertEG wrote:

I am not sure I understand.  You just added 5 accounts?  Are the AMEX additions as an authorized user of those accounts?

Are the other three brand new accounts, with zero lenght of history?

What are the CLs on each, and how do they improve your % utiil as opposed to affecting your length of credit history and new credit?

FICO is a multi-category analysis.  Actions in just one category, such as new credit or length of credit, cant be used alone to predict impact on overall FICO score.

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Total 5 new accounts.

Amex Delta - Dont CL yet. ( adds 15 year age )

Amex Platinum Charge ( adds 15 year age )

Universal Amex - 1k CL

Penfed Promise - 5k

Penfed Thrift - 500

I usually pay in full so new CL will not help much in lowering my util. Any way let us wait couple of months and let us see once all the new tradelines reporting and how it effects my scores. For now I see only 2 point drop due to new inquires.

[haulingthescoreup]

OK, this will only show as three new accounts, since the AmEx cards will show up as 15-year-old accounts.

So you'll get a ding for new credit for those three, unless you already had opened new accounts within the last six months. (Might be 12 months, but I think it's six.)

The two new AmEx cards should cancel out any potential lowering of AAoA for the other three, and if anything, they might increase it. But since you already have so many cards that are 2-3 years old, there might not be enough mass from the added AmEx age to increase your AAoA. But at any rate, I don't think it would shorten.

So, I'm guessing that any decrease you'll see would be for the inqs (you already said 2 points, and that's only per report pulled, not all three), and any possible new account ding. Maybe 5 additional points lost, max?

Yours is an interesting case, definitely out of the usual forums experiences. So that guess of -5 points is truly a stab in the dark. Do let us know what the scores say, once everything reports. You might have an initial drop if the AmEx reports delay in reporting, so you'll need to wait until all five show up to see the final results.

[Red1Blue]

It is kind of surprise for me too. Though I added several new accounts and inquires, some how I seem to keep my credit scores relatively stable. Despite the new accounts and inquires I added, my scores are still around 700's where they were 2 years ago. There might be some thing else that would effect the scores besides the conventional wisdom. Could it be spending and payment patterns? Amount of payments and frequency of spending/payments. Not sure what it is, I must be doing some thing right to keep my scores relatively steady. I am going to wait another 6 months and then test the scores again and see they are doing.

[haulingthescoreup]

I think you just broke the system

No, it's just that you've accumulated all the negative factors that you can in the categories of too many inqs, too many new accounts, and too short AAoA. You simply can't lose any more points in these areas than you already have.

Everything else, you've done right --low util, clean recent history, and so forth, and you're getting lots of points for these. And this is enough to outweigh the negatives above.

You're the inverse of all those indignant new members who post that their histories are immaculate, they only have a car loan, a mortgage, and two CC's, and their scores are "only" 714. But it's because they let balances report on both cards, with a reported util of 90%. They may turn around and PIF immediately, but they're dinged for high util and too many accounts with balances.

Lots of different ways to make the scoring formulas happy, just as there are lots of ways to make it sad.