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How old does a CC account have to be to no longer have any negative influence
on your FICO score ?
I have 3 accounts less than 2 years old
Freedom - Dec 2013
Sallie Mae - March 2014
Ink Cash - March 2014
The Ink cash cost an inquiry to open, but doesn't report so I
would guess it is not costing me FICO points. What about the
Freedom and SM ? I just got my score update and was hoping I might
pull my first perfect 850 because it is the first score since
all accounts are past a year. I had my utilization tweaked to 1% on
one card only. My AAoA is 10 years. My reports are absolutely spotless.
I have a mortgage in good standing 3 years old and 2 other paid off
mortgages on my reports.
No dice on pulling an 850 - I am at 841
I know there are a few people who have ar have had perfect 850's that
frequent the forum. Has anyone done it with accounts less than 2 years
old on their report? Less than 1 year old? With an AAoA less than 8 years?
Of course, I am well aware that anything above 760 FICO has no value at all,
and that 850 is just puffery. It is an academic interest for me and it keeps me
on the straight and narrow as far as app'ing though.
Looks like Chase considers new accounts anything within 1 year.
When the inquiries to open it fall off.
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The inquiries are suppose to not be a factor in FICO score calculation after a year.
The new account granted for the inquiry evidently is still classed as "new" past a year, maybe up to 2 years?
In the high score bucket evidently having a "new" account costs a few points. It may be no factor
until there are no other take-aways masking it.
My question is, is it possible to pull a 850 score if you have credit card accounts less than
2 years old ? Do you have to have a "diamond spade" to reach 850 ?
No, you cannot pull an 850 with a card that is less than 2 years old on your reports. You cannot pull an 850 by having ANY credit account that is less than 2 years old on your reports for that matter.
Until an account is 2 years old it is still considered new credit by FICO.