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Multiple new accounts - DPs - What to expect?

JFox418
Regular Contributor

Multiple new accounts - DPs - What to expect?

Where is the best place to see what Experian is using for AAoA? Currently subscribed to Experian and getting daily updates. EQ and TU I get monthly. Score drops are starting to hit from apping and opening new credit card accounts. Curious to see how much I'll drop in total and when to expect the points to be recovered.

 

Here's an overview of my beginning EX profile - Started out before apping at 808 on 12.12.21

  • 7 Total Open Accounts
  • 8 Total Closed Accounts
  • Oldest Account - 20 years 1 month
  • AAoA - 10 years 8 months (I had to figure this out so might be off a few months)
  • (5) revolvers with balances aggregate UTIL %37
  • Current Installment Loan - Opened 12/2017 %29 balance left
  • (3) Current Closed installment loans
  • (2) Current Closed mortgages
  • Current Mortgage opened 8/2019

12/13 - 2 HPs update and dropped 5 points to 803

12/14 - 3rd HP hit and dropped 6 points to 798

12/15 - First new CC account reported and dropped 12 points down to 785. AAoA dropped from 10 years 8 months to 9 years 6 months

12/18 - Balance UTIL on an account went from %47 to %62 and dropped me 5 points to 780 

 

I'm looking at 3 more accounts opening and posting soon. Any idea what to expect? Will it take a full year to recoupe all the points or will they slowly come back?

 

11.05.21 - EX 767 / EQ 774 / TU 762 %56 UTIL $43.1K CL (WIP)                                                                                  

12.12.21 - EX 808 / EQ 805 / TU 792 %37 UTIL $46.1K CL

9 REPLIES 9
SouthJamaica
Super Contributor

Re: Multiple new accounts - DPs - What to expect?


@JFox418 wrote:

Where is the best place to see what Experian is using for AAoA? Currently subscribed to Experian and getting daily updates. EQ and TU I get monthly. Score drops are starting to hit from apping and opening new credit card accounts. Curious to see how much I'll drop in total and when to expect the points to be recovered.

 

Here's an overview of my EX profile - Started out before apping at 808 on 12.12.21

  • 7 Total Open Accounts
  • 8 Total Closed Accounts
  • Oldest Closed Revolver Kay Jewelers 11/2001
  • Oldest Open Revolver 3/2005 (AU)
  • (5) revolvers with balances aggregate UTIL %37
  • Current Installment Loan - Opened 12/2017 %29 balance left
  • (3) Current Closed installment loans
  • (2) Current Closed mortgages
  • Current Mortgage opened 8/2019

12/13 - 2 HPs update and dropped 5 points to 803

12/14 - 3rd HP hit and dropped 6 points to 798

12/15 - First new CC account reported and dropped 12 points down to 785. 

 

I'm looking at 2 more accounts (possibly 3) opening and posting soon. Any idea what to expect? Will it take a full year to recoupe all the points or will they slowly come back?

 


On the experian.com site go to > FICO scores > FICO 8 > score ingredients > length of credit history


Total revolving limits 693500 (600500 reporting) FICO 8: EQ 716 TU 729 EX 697

Message 2 of 10
RSX
Valued Contributor

Re: Multiple new accounts - DPs - What to expect?

I'm looking at 2 more accounts (possibly 3) opening and posting soon. Any idea what to expect? Will it take a full year to recoupe all the points or will they slowly come back?

 

 

i am guessing you will start seeing some points coming back after about 90 days 

Dec 16/2019. EX. 721. EQ. 723. TU 746
Dec 29/2020 EX. 729 EQ. 723 TU 746
Dec 29/2021 EX. 736 EQ. 739 TU 746
Inq. EX 4 EQ 1 TU 2 - - CC 3x24, 1x12, 0x10
Amex BCP $32k - Apple GS $19k - BMW/Elan $9k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase Bonvoy Boundless $10k - Chase United Club Infinite $26k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $23k - HSBC Gold - $13k - Penfed Gold - $12.5k - USBank Cash+ -$24k - HSBC LOC - $13.5k - PenFed LOC - $20k
Message 3 of 10
FireMedic1
Super Contributor

Re: Multiple new accounts - DPs - What to expect?

I was 750's when I went on my spree 6 months ago with 3 cards and a loan. Went down to 730's and its a slow climb so far. Probably in a year or so to recover. AAoA well above 4-6 yrs still. But were all different.






Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 4 of 10
JFox418
Regular Contributor

Re: Multiple new accounts - DPs - What to expect?


@SouthJamaica wrote:

@JFox418 wrote:

Where is the best place to see what Experian is using for AAoA? Currently subscribed to Experian and getting daily updates. EQ and TU I get monthly. Score drops are starting to hit from apping and opening new credit card accounts. Curious to see how much I'll drop in total and when to expect the points to be recovered.

 

Here's an overview of my EX profile - Started out before apping at 808 on 12.12.21

  • 7 Total Open Accounts
  • 8 Total Closed Accounts
  • Oldest Closed Revolver Kay Jewelers 11/2001
  • Oldest Open Revolver 3/2005 (AU)
  • (5) revolvers with balances aggregate UTIL %37
  • Current Installment Loan - Opened 12/2017 %29 balance left
  • (3) Current Closed installment loans
  • (2) Current Closed mortgages
  • Current Mortgage opened 8/2019

12/13 - 2 HPs update and dropped 5 points to 803

12/14 - 3rd HP hit and dropped 6 points to 798

12/15 - First new CC account reported and dropped 12 points down to 785. 

 

I'm looking at 2 more accounts (possibly 3) opening and posting soon. Any idea what to expect? Will it take a full year to recoupe all the points or will they slowly come back?

 


On the experian.com site go to > FICO scores > FICO 8 > score ingredients > length of credit history


Wow didn't realize the site had so much more than the app. Updating original post. 

11.05.21 - EX 767 / EQ 774 / TU 762 %56 UTIL $43.1K CL (WIP)                                                                                  

12.12.21 - EX 808 / EQ 805 / TU 792 %37 UTIL $46.1K CL

Message 5 of 10
JFox418
Regular Contributor

Re: Multiple new accounts - DPs - What to expect?

After a little reading and some excel math I think I have it fairly close. Interesting that I'm an AU on my DW's Cap1 and that's not counted in average age of accounts or oldest account and also interesting that my oldest account is a closed retail card. 

 

It looks like if two new cards hit my report that my AAoA will drop to around 7 years.

 

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11.05.21 - EX 767 / EQ 774 / TU 762 %56 UTIL $43.1K CL (WIP)                                                                                  

12.12.21 - EX 808 / EQ 805 / TU 792 %37 UTIL $46.1K CL

Message 6 of 10
FireMedic1
Super Contributor

Re: Multiple new accounts - DPs - What to expect?

Average Age of Accounts is calculated as a simple, non-weighted average; it's the sum of the ages of your credit accounts divided by the number of accounts that you hold. Add up all the months then divide the number of accounts.






Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 7 of 10
JFox418
Regular Contributor

Re: Multiple new accounts - DPs - What to expect?

Expecting some changes in the next week or two. FNBO and FF will have higher UTIL since I did BTs on them but at least I'm getting 0% APR. That'll probably effect my score more than the new accounts posting.

 

FNBO Evergreen - 1/11/22 1st statement close

Freedom Flex - 2/8/22 First payment due so expecting statement close soon but can't find statement close info

Amazon Prime - 2/13/22 First payment due but same as above

11.05.21 - EX 767 / EQ 774 / TU 762 %56 UTIL $43.1K CL (WIP)                                                                                  

12.12.21 - EX 808 / EQ 805 / TU 792 %37 UTIL $46.1K CL

Message 8 of 10
ConnieBlue
New Visitor

Re: Multiple new accounts - DPs - What to expect?


@RSX wrote:

I'm looking at 2 more accounts (possibly 3) opening and posting soon. Any idea what to expect? Will it take a full year to recoupe all the points or will they slowly come back?

 

 

i am guessing you will start seeing some points coming back after about 90 days 


 

Message 9 of 10
JFox418
Regular Contributor

Re: Multiple new accounts - DPs - What to expect?

Ok it looks like all the dust settled and now I know where I'm starting from. I refreshed my EQ and TU but it looks like one of my accounts hasn't updated yet even though it did on EX. 

 

Started with EX 808 and %37 aggregate UTIL, AAoA 10 years 8 months.

Now I'm at EX 771 and %25 aggregate UTIL, AAoA now 8 years. (4 new accounts and 3 HPs)

 

Overall CL went from $43,100 to $79,700

 

 

11.05.21 - EX 767 / EQ 774 / TU 762 %56 UTIL $43.1K CL (WIP)                                                                                  

12.12.21 - EX 808 / EQ 805 / TU 792 %37 UTIL $46.1K CL

Message 10 of 10
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