08-27-2010 12:04 AM
Whats up ppl... ???
Quick question about amex... apped lots of cc's in the last year or so... credit file is like 4.5 yrs old with AAOA of 1 year. If my grandpa were to add me on his amex - think he has had it since eighties or early ninties and then I get an amex of my own (say green or zync) and get amex to backdate it - do you know what this would do to my score?
Speculations welcome... also planning to buy an investment property in sept.
08-27-2010 09:35 AM
you would probably see a little gain because of longer age, but not sure how many points we are actually talking about.
08-27-2010 11:11 AM
You would definitely see some gain because of the longer history and AAoA, but how big would most likely be a function of what your score and how recent any baddies are.
Imagine a 780 vs. a fairly clear 700 vs. a messy 600. I would imagine that all three scores would go up, but that absolute and % change would probably be biggest the lower your score was.
Keep in mind that established history = 15% of the FICO score. That's probably the only thing that you're going to improve right now:
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