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When is a CC account no longer "new"?

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bada_bing
Frequent Contributor

When is a CC account no longer "new"?

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.

+ 850 FICO8 since 2015, Thanks MyFICO - 5+ years since last HP
Message 1 of 7
6 REPLIES 6
TheGardner
Valued Contributor

Re: When is a CC account no longer "new"?

Depends on lender, 6 months to a year.
If anyone needs me I will be In The Garden. Goal Score: 760 for all in 2015.
Current FICO Scores EX: 715 EQ: 756 TU: 762
Last APP April 21, 2015.
Victim of The great AMEX HP heist of Dec 1st, 2nd and 3rd of 2014.
Message 2 of 7
-Cal-
Valued Contributor

Re: When is a CC account no longer "new"?

Looks like Chase considers new accounts anything within 1 year. 

Message 3 of 7
Imperfectfuture
Super Contributor

Re: When is a CC account no longer "new"?

For fico scoring buckets, anecdotal evidence is two years. If you have closed accounts in good standing, those will also add to AAoA for 10 years,
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Message 4 of 7
Kostya1992
Established Contributor

Re: When is a CC account no longer "new"?

When the inquiries to open it fall off.

TU08 FICO850
EX08 FICO850
EQ08 FICO850

Message 5 of 7
bada_bing
Frequent Contributor

Re: When is a CC account no longer "new"?

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 ?

+ 850 FICO8 since 2015, Thanks MyFICO - 5+ years since last HP
Message 6 of 7
jamie123
Valued Contributor

Re: When is a CC account no longer "new"?

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.


Starting Score: EQ 653 6/21/12
Current Score: EQ 817 3/10/20 - EX 820 3/13/20 - TU 825 3/03/20
Message 7 of 7
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