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jsteg1012

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I HAD good credit
I had good credit, I opened 3 new credit card accounts per the advice of CK and it dropped my score by 65 points becaause 1. hard hit on report and 2. my age of credit went down dramatically, so my question is what now? i still have 100% of on time payments, my debt to income ration is good, and no matter if I pay all my debt or not, it stays the same!! I was going to finance a pool and now I cant qualify because of that, I have no clue what to do.

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You just wait. Your score will recover. And in the future, don't apply for credit more than once or twice a year. Hard inquiries and new credit definitely hurt our scores, and the more credit we apply for in a short time, the deeper the "dings" in our scores because all those credit applications make it look as if we're either desperate or planning a big spending binge.

As to that swimming pool: Do you really want to hock your future for that? Maybe it's worthwhile to you. But during this time when you may not qualify to finance it, how about saving at least part of the money toward getting the pool?

Reply by
jsteg1012

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thank so much for your response, as far as the pool, I have actually been saving for a couple of years for it already, I have saved half and was planning to finance just under half.. do you know how long it takes for the scores to recover from the inquiries? 6 months?, a year?  thanks so much!

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nothing,your score will go down but will go back up slow.

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