How long does it take ?

Discussion in 'Credit Talk' started by lmckenzie, Dec 31, 2001.

  1. lmckenzie

    lmckenzie Well-Known Member

    ALL-

    Upon getting a new card, how long does it take before it starts to positively affect your credit score, I've heard different things want to get something that's proof positive .
     
  2. Beaker

    Beaker Well-Known Member

    I think it depends on the issuer and how long the card takes to report. I was approved for a Discover card on 12/11 and it was already reporting to Equifax on 12/28. It raised my score 35 points (yay!). Others here have said that some issuers (Citibank?) take a couple of months to report, so it would take longer to affect your score.

    Hope this was helpful!
     
  3. QUEEN_BEE

    QUEEN_BEE Well-Known Member

    That is very good to know. I was under the impression that a new account will decrease your score until it ages some.

    Thanks for the inspiration. Now I dont feel so bad knowing that Kohls and Fleet and Money Tree will report in a few weeks:)

    Maybe that will offset the inquiries (and denials) from Sears and Chase.
     
  4. lmckenzie

    lmckenzie Well-Known Member

    See that is exactly what I thought and that is exactly what has happen, although it will start in a postive I just wanted to know how much age will have to occur before that actually happens.
     
  5. QUEEN_BEE

    QUEEN_BEE Well-Known Member

    Mckenzie,

    What else was on your credit prior to the score increase? Just wondering and hoping that I am in the same boat.
     
  6. bailey

    bailey Well-Known Member

    I had 2 accounts hit and lost 41 points:(
     

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