Score not affected by newly opened accounts

[disdreamin]

Hmm...apparently Equifax really likes me. I'm back to a great score with them (the others are still lagging, but always have) with a whole passel of new accounts in recent months.

Lets see, new auto loan with barely touched principal 12/14

New Arrival+ card 1/15

New BCP (reports with 4/93 as opened though) 1/15

New CSP 5/15

New Sallie Mae 5/15

All the new accounts are reporting, but my Equifax sprang back already from the hits from new accounts. The other CRAs took the majority of the punishment due to the HPs, but with time those should bounce back as well. We'll see how long it takes...if I can keep myself from finding another card I need. 

I'm just surprised the new accounts don't have more of an effect on the FICO 8 model.  Weird!

[securingourfuture]

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@disdreamin wrote:

Hmm...apparently Equifax really likes me. I'm back to a great score with them (the others are still lagging, but always have) with a whole passel of new accounts in recent months.

Lets see, new auto loan with barely touched principal 12/14

New Arrival+ card 1/15

New BCP (reports with 4/93 as opened though) 1/15

New CSP 5/15

New Sallie Mae 5/15

All the new accounts are reporting, but my Equifax sprang back already from the hits from new accounts. The other CRAs took the majority of the punishment due to the HPs, but with time those should bounce back as well. We'll see how long it takes...if I can keep myself from finding another card I need. 

I'm just surprised the new accounts don't have more of an effect on the FICO 8 model.  Weird!

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I'm the opposite with EQ.  I wonder if that 4/93 account is offsetting the hit??

[disdreamin]

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@securingourfuture wrote:

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<snip>

I'm just surprised the new accounts don't have more of an effect on the FICO 8 model.  Weird!

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I'm the opposite with EQ.  I wonder if that 4/93 account is offsetting the hit??

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I'm sure it isn't hurting, but I never would have expected it to offset the four brand new accounts entirely. I'm very grateful I caved on the BCP when I did! A month or two later and it would be just another new account.  Phew!

[Anonymous]

Mine did the same.  No change really.  Very unusual for them!  

[takeshi74]

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@disdreamin wrote:

I'm just surprised the new accounts don't have more of an effect on the FICO 8 model.  Weird!

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Effect varies by credit profile.  It's not just the change itself but one's credit and how the change(s) factors in.  Two people can both have new accounts with the same reported open dates, limits, etc and see different results if their credit profiles are sufficiently different.

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@disdreamin wrote:

I'm sure it isn't hurting, but I never would have expected it to offset the four brand new accounts entirely.

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 Having an account report as 22 years old is definitely helping but you can do the AAoA math to see for yourself.  If, for example, the accounts in your OP were your only accounts that would be the difference between (roughly) 3 months and 4.7 years AAoA.  That said, AAoA is just one factor to consider.  Your auto loan, even though it has a high balance to loan ratio, does help with mix of credit.  Your new CL's may be helping with revolving utilization, etc.  It's all up to how these various factors add up adn, in certain situations, it is possible to see an increase with new accounts.

[Revelate]

Last spree when I tacked on 4 tradelines I walked through the AAOA math per tradeline reporting as I usually don't get a drop either.

Start AAOA 2 years

1 trade reported: AAOA 2 years no change

2 trades reported: AAOA 2 years no change

3 trades reported: AAOA 2 years no change

4 trades reported: AAOA < 2 years, drop

My score recovered identically when I aged a month which restored my AAOA.  Was only a small change with my profile but that's held with all of my spreed accounts previously once mix of credit was out of the way: I take drops for inquiries, but with my <2 year AAOA at the time I never took a drop as a result of a new tradeline on Beacon 5 or Beacon 9.  If you have non-trivial AAOA and insufficient file thickness to buffer the new card and it materially changes, you get a ding.  There's been some reports of new tradelines being a factor but I don't know what the date is on that, could be 2 years as someone have theorized in the chasing 850 hunt in which case I've never experienced that personally as the longest I've sat on my hands was 15 months.

That's why I'm somewhat skeptical of some of the recent postings suggesting AAOA triggers on month, that may be the case but there's still some possibly obvious boundaries.

Bout to cross three years AAOA on my reports and probably will by the time mortgage or post-close tradelines report, but with a first mortgage all bets are off and my report isn't stable enough to get a good data point on that one.

[disdreamin]

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@Revelate wrote:

Last spree when I tacked on 4 tradelines I walked through the AAOA math per tradeline reporting as I usually don't get a drop either.

Start AAOA 2 years

1 trade reported: AAOA 2 years no change

2 trades reported: AAOA 2 years no change

3 trades reported: AAOA 2 years no change

4 trades reported: AAOA < 2 years, drop

My score recovered identically when I aged a month which restored my AAOA.  Was only a small change with my profile but that's held with all of my spreed accounts previously once mix of credit was out of the way: I take drops for inquiries, but with my <2 year AAOA at the time I never took a drop as a result of a new tradeline on Beacon 5 or Beacon 9.  If you have non-trivial AAOA and insufficient file thickness to buffer the new card and it materially changes, you get a ding.  There's been some reports of new tradelines being a factor but I don't know what the date is on that, could be 2 years as someone have theorized in the chasing 850 hunt in which case I've never experienced that personally as the longest I've sat on my hands was 15 months.

That's why I'm somewhat skeptical of some of the recent postings suggesting AAOA triggers on month, that may be the case but there's still some possibly obvious boundaries.

Bout to cross three years AAOA on my reports and probably will by the time mortgage or post-close tradelines report, but with a first mortgage all bets are off and my report isn't stable enough to get a good data point on that one.

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I'm going to run the numbers, but the 850 was what made me do a double-take. One 22 year old "new" account doesn't offset the four additional brand new ones in my AAoA, so having the score bounce back all the way back up was quite a surprise. I thought it would take at least a year or two for my AAoA to get back to pre-app spree numbers before my score would (possibly) rebound like that.

I'll run the AAoA numbers to see what exactly the change was, but it's years difference, for sure.