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@Anonymous wrote:
What in asking is how long does an account have to be in your CR before it's no longer considered a "New Account"?
Because in mine it's showing 12 "New Accounts" and I really do not believe I've opened up that many accounts within the last year or so. This factor makes up 10% of my FICO score so just wondering.
I believe accounts are considered "mature" when they hit three years old.
@Anonymous wrote:
So for FICO scoring any account under 3 years old will ding you?
No, look at it the other way around - you get a boost when they age past three. Credit is almost entirely about two things - perfect payment history and TIME. Low balances are a big part as well...
I was told by BOA that after 6 months the accounts mean less and after a year the computer no longer considers it a "new account" unless it's chase! Chase doesn't play around.