Will My Credit Score go down or up....HELP!!!

[TeeandDee]

My current FICO score is 641 (was 663 but dropped due to new inquries).  I have been approved for a new Capital One card Jan, 2012, and three new cards over the weekend (Chase Freedom, Discover More, and Express (WFNNB)) .  When these four cards start reporting, do you think my score will increase at all? Or drop more??  According to the FICO Stimilator is should increase but I hear that's not always accurate.

[pizzadude]

It depends on how the positive aspects of these cards compare against the negative aspects.   Your Average age of accounts will take a large hit from having four new accounts opened.   But you will have lower %util from the additional available credit.     If these are your first credit cards then your mix of credit will improve.

[TeeandDee]

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@pizzadude wrote:

It depends on how the positive aspects of these cards compare against the negative aspects.   Your Average age of accounts will take a large hit from having four new accounts opened.   But you will have lower %util from the additional available credit.     If these are your first credit cards then your mix of credit will improve.

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Okay, well, I will post back when all the new cards hit my report which I think should be be around the same time.  Hopefully by the end of the month for one, and the other three should be by next month.  So I guess I'll have a new picture of my standing by the end of next month because by then they all should definately be reporting.  I've already lowered my utilization on the two cards that I have now on my report, but it will not show until next week when they report.