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When is the sixth month point?

Established Member

When is the sixth month point?

We all know that your fico goes up at

the sixth month point of your account.

 

But when is this? 6 months from opening or

6 months of payments reported on report? (which often makes it 7 months)

Message 1 of 4
3 REPLIES
Valued Contributor

Re: When is the sixth month point?


uroosa1 wrote:

We all know that your fico goes up at

the sixth month point of your account.

 

But when is this? 6 months from opening or

6 months of payments reported on report? (which often makes it 7 months)


It's actually 6 months from the inquiry if you're talking about the six month rule...typically, after six months, the ding from the inquiry becomes less of an impact on your FICO score, therefore raising it. However, perfect payment history and low utilization on all your accounts will help it grow as well!


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Message 2 of 4
Valued Contributor

Re: When is the sixth month point?

It is usually when the 7th statement cuts.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 3 of 4
Moderator Emerita

Re: When is the sixth month point?

I can't wait until March! I opened 5 of my 7 cards in Sept/Oct last year plus a CA is due to fall off in March.  I am hoping to see an increase with April's scores. 

Message 4 of 4