Understanding that my AAOA will shorten, BUT my new credit limit increase of $8000 will bring my Utilization down low and according to simulators, should give me a score boost of 20-30 points ?
Also bringing my revolvers up from 2 accounts to 4 accounts now.
Old total credit limit $800 > 27% UTI
New total credit limit $8800 > ???
Starting Score: 512
@Mdowning30 wrote:Understanding that my AAOA will shorten, BUT my new credit limit increase of $8000 will bring my Utilization down low and according to simulators, should give me a score boost of 20-30 points ?
Also bringing my revolvers up from 2 accounts to 4 accounts now.
Old total credit limit $800 > 27% UTI
New total credit limit $8800 > ???
Sorry but I'm finding it hard to understand what you're saying and what you're asking.
Are you saying that you added 2 new credit card accounts, increasing your total limits from $800 to $8800, lowering your aggregate utilization from 27% to 2.5%, and want to predict the impact on your scores?
If so, I predict that your scores will be lower in the short run, due to inquiries, resetting age of youngest account, and lowering of average age of accounts, but that within 3 months or so your scores will be as good or better than they are now.
@Mdowning30 wrote:Understanding that my AAOA will shorten, BUT my new credit limit increase of $8000 will bring my Utilization down low and according to simulators, should give me a score boost of 20-30 points ?
Also bringing my revolvers up from 2 accounts to 4 accounts now.
Old total credit limit $800 > 27% UTI
New total credit limit $8800 > ???
A lot at play here. With what was given us to go by. Keeping your AAoA's >2yrs helps. Getting over 3 cards from 2 helps. Only have 1 report. Getting aggregate util %'s down below 8.99% helps. If you have a thing file. The 2 new accounts may offset the gains +/- for a while. Credit lines are for util %'s for whats reported. And dont go by simulators. If your rebuilding and had 27% util with 2 cards. Dont keep swiping to get back to that % with the new cards. Aviod paying interest. If you cant pay it. Dont charge it. Congrats on your new cards. Let us know what your scores landed on once they all report.
I dont pay any interest, my CFU is 0% until March 2023. I will update my scores as soon as they change later this month.