With the upcoming changes to the FICO scoring model, I will be losing an AMEX that has been opened in good standing since 1993. Since my oldest good standing credit card account other than that one is only 16 months old, I will take quite a hit on my score I'm sure. For this reason, I've been using my score now to open some new cards that I may not be able to get once the new scoring goes into affect. Since I got approved for the car loan, I will not be in need of any additional credit for at least a year when I am planning on trying to buy a house. Other than making sure that the accounts are paid on time with good utilization, is there anything I can do to lessen the blow that the new changes will make to my score? By the time I'm ready to start mortgage shopping, will my score have bounced back significantly with the years worth of good history on an additional 3 credit cards and 1 car loan? Anyone have any ideas?
Does anyone know how long having new accounts will hurt me for? I know one of the things they look at is having a bunch of new accounts. How long will they be considered "new" accounts before they become established accounts?