credit bounce back
 

after an AOR , how logn would your credit go back up? mine dipped a bit after my last two apps in feb but i haven't seen any activity on it going back up again. its been 3 months..? so when should i expect it to go back up as i need to get a card or two here in a week or two.

thanks,

anyone? :D

Credit report actions are generally triggered by financial actions... this can be as simple as a change in your balances. So every time your credit card company sweeps your file to the credit bureau (usually at close of statement), your report can change.

If you are attempting to raise your score, one strategy is to pay most of your bill before the statement closing date. Then they report lower utilization because your balance was low at the close of the statement date.

I have had some enormous drops in my credit report (60-70 points) since discovering this hobby, but my score has bounced back. My strategy is to keep the utilization low, since that was one of my big dings. Your credit report will tell you what is dinging your score, then you need to alter your behavior accordingly.

I did my first 4 card app-o-rama in October, plus added a card last month, so I am not hitting this as hard as many people are. I will add a card here and there if the offers are irresistible, but heavy app-o-ramas on a schedule are not my style.

My original credit score was about 803+, it dropped to the 740's after all my "fun". Now, it's back up to the 770's on experian and a whopping 849 on transunion. I monitor it carefully because I needed a home and car loan, too.

hmmm well i keep my utalization down as you mentioned...i pay off my cards actually weekly across the board cause i like to keep a 'true' up image of what i have in cash.

i don't do or will do huge AOR...my first AOR had 4 cards then i got 2 cards this year ( first AOR was last nov). i am thinking of getting two cards for a future need so i am afraid it'll dip again as it hasn't 'recovered' yet. i do have a car and student loads i am paying off...so i guess i nee to pay more on those to keep my debt lower.

Sounds like thin credit history to me. I have a hunch, many here could be your parents, which means we've paid mortgages and credit card bills for as long as you've been alive. With that "privilege", comes gray hairs and a thicker credit file. Younger files need more time to recover. There are some really knowledgable people on the credit forums and also a few here(I am not one of them). Id spend some time reading Ferrari fan and MDTR-Chicago here and the credit forums elsewhere. Then, get your scores, not the FAKO ones. It will give you a better picture of what you are dealing with and the impact of things. FWIW, I generally see a dip, bigger than some, but a return in less than two months.

Well, i don't think i have that much of a thin credit !! i've had 2 car loans paid off, a current one...a mortgage and credit cards history that go back 13 years with no late payments ! ( pending i didn't have that many cards but few ...) and i do have a small student loan as i mentioned.

i am not sure if you would consider my file 'thin'- maybe according to your history it could. I use bank of america privacy assist for a credit score...honostly i am not sure if that is a FAKO like credit karama and all. i'l try to read up on on the forums here and pull my true score.

my last credit card sign ups were in Feb so maybe i should wait another month and see if it will jump back up again.

Thank you for the tips and advise

After my AORs, things seem to be back to normal somewhere between 90 and 180 days. But I've got 50+ accounts and 20+ open lines on my account, so the effect of new credit and changes to the average age are minimal. So, I'm just worried about the inquiries.

Yeah i think i am in the limbo as i just started my AORs last NOV - so before that a few credit cards thats it...so with my first AOR it raised my credit a bit actually ...but on the last 2 it went about 10 points lower. I have few cards i wana get now but i am not sure what it'll do now ! i stil have good credit - 774 experian, 776 transunion and 785 on equafax.

I can still probably go at it again and get few cards and see a slight dip again then cool it off for a while. i could wait a few months but i need few cards for an upcoming trip.

its only been 2+ on my last two cards so i guess it could take a few more to bounce back ...i'll just need to have to wait if i wana see that happen heheh

That's exactly the kind of data that reflects the need to pull your report and deal with the information it provides. Everybody has such a different profile.

My credit score one year ago had too FEW accounts (3 or so very aged credit cards, a paid off car loan, one home loan, an equity line). The mysterious FICO formula indicated that my future creditors would like to see a tad more activity on my part.

Above 760, the formulas are pretty meaningless. I'd go ahead with whatever applications you want now. Otherwise you'll just stress yourself out about losing or gaining points that don't matter.

You are right, but I wouldn't rely too much on the mysterious FICO advice that comes back. Those engines are programmed to provide feedback, even if there aren't any major factors, so it's often gibberish or contradictory in my experience.