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Please explain the following

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bogoss83
Established Member

Please explain the following

LENGTH OF TIME ACCTS ESTABLISHED : How long do they have to be established for to no longer get this message

 

TOO MANY NEW ACCOUNTS: After how long is an account no longer considered "new"

 

 

EX FICO: 720
EQ FICO: 740
TU FICO: 760
Message 1 of 7
6 REPLIES 6
kroberts67
Established Contributor

Re: Please explain the following


@bogoss83 wrote:

LENGTH OF TIME ACCTS ESTABLISHED : How long do they have to be established for to no longer get this message

 

TOO MANY NEW ACCOUNTS: After how long is an account no longer considered "new"

 

 


I'd say anything under 6 mos is considered "new".  I had a 42 point drop in score because of a "recent new account"--- it had been reporting 3 months already!  

FICO: EQ 814 | TU 847 | EX ? (Started in the low 500's... you can do it!)

Amex BCE $25000, Amex AP $20000, SFFCU Visa $15000 + LOC $5000, USAA Amex $6000, USAA MC $7000, Cap1 $9500, Freedom $12000, Slate $500, Barclays "RIP" SM $11500, USBank Cash+ $12500, Citi Diamond $11200, Citi Double Cash $12000, Care Credit $13500k.
My Credit Repair Journey
Message 2 of 7
webhopper
Moderator Emeritus

Re: Please explain the following

After 6 months the account is not new. Also; aaoa may play a role.... but I am not sure about that
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 3 of 7
indiolatino61
Valued Contributor

Re: Please explain the following


@webhopper wrote:
After 6 months the account is not new. Also; aaoa may play a role.... but I am not sure about that

Off topic...man that Platinum Spade looks shiny...lol!

 photo Logo - Credit Card Collection - Data Inclusive_zpskiw5xfjj.jpg photo emerald_zpsfitcxbh5.jpg
Message 4 of 7
from500to700
Regular Contributor

Re: Please explain the following

My newest account was opened on 03/2013 and I still get these 2 messages AAoA is more than 8.7 years , active accounts 2 one opend on 09/2012 and other on 03/2013 and I get same exact messages till now.


Started :
05/05/2013 EX :525,TU:542,EQ:535
09/30/2014 EX :655,TU:669,EQ:664
In Garden Since 03/16/2013
Will not Apply till 03/31/2015
Message 5 of 7
FinStar
Moderator Emeritus

Re: Please explain the following

Some lenders can still consider accounts <12 months as "new" within their u/w criteria and reasons, while others will not.

Message 6 of 7
blondy250
Established Contributor

Re: Please explain the following


@FinStar wrote:

Some lenders can still consider accounts <12 months as "new" within their u/w criteria and reasons, while others will not.


This.

Fico 8 12/9/17
Equifax 850, TransUnion 842 10/30/17 , Experian 842 12/11/17 . AAOA 12 years Oldest 20
No inquires since 2014
All credit reports frozen
Fico 8 Equifax Bankcard 866 12/27/16
Message 7 of 7
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