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What is considered "New Credit"

New Contributor

What is considered "New Credit"

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


1/1/2015 TU: 675, EP: 642, EQ: 645
TU: 638
Since:
Kay Jeweler's $400/ Capital One Visa $900/ Credit One Visa $950/ Firestone $2200/ Von Maur Card $500/ Fingerhut $2000/ Discover It $2200/USAA AMEX $500/Pebbles $2250/ PayPal $3200/ Pier One $500/ Lowes $500/ Macy's $1000/ Sears $2500/ Wal-Mart $1200/ Barclay's $1500/ Capital 1 $3000/ Venus $250/ Loft $250/ VS $250/ New York & Co $250/ Overstock $2200
In Full and Complete Gardening Mode!!!!
Message 1 of 8
7 REPLIES
Frequent Contributor

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.

Message 2 of 8
Super Contributor

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
Message 3 of 8
New Contributor

Re: What is considered "New Credit"

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


1/1/2015 TU: 675, EP: 642, EQ: 645
TU: 638
Since:
Kay Jeweler's $400/ Capital One Visa $900/ Credit One Visa $950/ Firestone $2200/ Von Maur Card $500/ Fingerhut $2000/ Discover It $2200/USAA AMEX $500/Pebbles $2250/ PayPal $3200/ Pier One $500/ Lowes $500/ Macy's $1000/ Sears $2500/ Wal-Mart $1200/ Barclay's $1500/ Capital 1 $3000/ Venus $250/ Loft $250/ VS $250/ New York & Co $250/ Overstock $2200
In Full and Complete Gardening Mode!!!!
Message 4 of 8
Moderator Emeritus

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".

Message 5 of 8
New Contributor

Re: What is considered "New Credit"

Thank you MarineVietVet!


1/1/2015 TU: 675, EP: 642, EQ: 645
TU: 638
Since:
Kay Jeweler's $400/ Capital One Visa $900/ Credit One Visa $950/ Firestone $2200/ Von Maur Card $500/ Fingerhut $2000/ Discover It $2200/USAA AMEX $500/Pebbles $2250/ PayPal $3200/ Pier One $500/ Lowes $500/ Macy's $1000/ Sears $2500/ Wal-Mart $1200/ Barclay's $1500/ Capital 1 $3000/ Venus $250/ Loft $250/ VS $250/ New York & Co $250/ Overstock $2200
In Full and Complete Gardening Mode!!!!
Message 6 of 8
Frequent Contributor

Re: What is considered "New Credit"

12 mos on the safe side


Starting Score: EQ 515 TU 490 EXfaco 510
Current Score: EQ 660 TU 665 EXplus 661
Goal Score: 700


Take the FICO Fitness Challenge
Message 7 of 8
Mega Contributor

Re: What is considered "New Credit"


Lil_Me wrote:

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


I would say anthing 6 months or less old.




EQ FICO 548 3/3/16
Message 8 of 8