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Lil_Me
Posts: 62
Registered: ‎06-30-2011

What is considered "New Credit"

What is considered new credit, anything over a year old?

BK7 - 2/2011
Since:
Kay Jeweler's $400/ Jared's $400/ HSBC Visa $300/ Credit One Visa $300/ Firestone $1000/ Von Maur Card $500/ Walmart Card (AU) $5600/ Fingerhut $500/ Discover It $200
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jausanka
Posts: 483
Registered: ‎05-06-2009

Re: What is considered "New Credit"


Lil_Me wrote:

What is considered new credit, anything over a year old?


Opposite.  Usually anything under a year is new... some lenders consider 6 months.

However, some conservative lenders like PenFed get revved up about accounts under 2 years.

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pizzadude
Posts: 8,630
Registered: ‎01-28-2010

Re: What is considered "New Credit"

 

IMO, anything under 6 months is new.   I would argue with any creditors that labled as "new" anything older than 6 months.....

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
New Contributor
Lil_Me
Posts: 62
Registered: ‎06-30-2011

Re: What is considered "New Credit"

I apologize I meant anything under a year. Ok so anything under 6 months is consider new credit?

BK7 - 2/2011
Since:
Kay Jeweler's $400/ Jared's $400/ HSBC Visa $300/ Credit One Visa $300/ Firestone $1000/ Von Maur Card $500/ Walmart Card (AU) $5600/ Fingerhut $500/ Discover It $200
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MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009

Re: What is considered "New Credit"


Lil_Me wrote:

I apologize I meant anything under a year. Ok so anything under 6 months is consider new credit?



You'll probably get as different opinions on this as the number of people who answer. Thats nothing new in the credit world. I believe from reading many, many posts that after 6-12 months an account passes the "new" stage. But as always YMMV.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

New Contributor
Lil_Me
Posts: 62
Registered: ‎06-30-2011

Re: What is considered "New Credit"

Thank you MarineVietVet!

BK7 - 2/2011
Since:
Kay Jeweler's $400/ Jared's $400/ HSBC Visa $300/ Credit One Visa $300/ Firestone $1000/ Von Maur Card $500/ Walmart Card (AU) $5600/ Fingerhut $500/ Discover It $200
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xlr8d
Posts: 306
Registered: ‎01-12-2011

Re: What is considered "New Credit"

12 mos on the safe side


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LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: What is considered "New Credit"

[ Edited ]

Lil_Me wrote:

What is considered new credit, anything over a year old?


I would say anthing 6 months or less old.




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