New Credit Accounts Result in Instant Credit Score Increase

I stated in a recent post that building new credit is an essential part of repairing your credit and building your credit score. I am happy to report that I am seeing the results of this already. I checked my credit scores and am delighted to see some nice increases with only 2 of my 3 new accounts reporting so far. Here is the current state of my credit scores:

FAKO Scores: TU - 646, EX - 613, EQ - 634
FICO Scores: TU - 580, EX - 658, EQ - 605

You will notice my TU FICO score is down quite a bit, this is due to my mortgage inaccurately reporting information. You have to stay on top of your credit all the time. I will be working to rectify this situation. To this point I am very pleased with my progress.