I've been kind of concerned about the same thing. I've gotten 4 new CCs in the last 3 months and I know my FICO has dropped a little bit. But I use a credit monitoring site and their analyzer said that my FICO scores will actually improve after 12 months of on time payments. My feeling is the drop is only temporary and as long as you pay on time (PIF preferred), keep util low, and don't apply for more credit you should be fine in about 6 months or so.