Not so sure I agree with you on this. My oldest TL is a paid off auto loan. It opened in 05/2002 and paid in full with never a late payment in 06/2006. I opened an unsecured Visa with a 2k limit and a Macy's with a $400 limit in 12/05. Then in 02/06 opened another Visa with FIA (formerly MBNA) with a measly $500 limit. In 12/06, pre-approved for an AMEX Blue with 4.8K limit. Finally, just last April was pre-approved for an AMEX Rewards Plus Gold Card (no pre-set limit, well supposedly). Moreover, I have 8 inq's on EQ, 6 on EX and 2 on TU. Keep in mind, I have 0 derog's, no late on any of these TL's listed. I have dramatically increased the CL's on all of these cards with only 10 to 15 point increases in my scores. Now my EQ and TU are 783 and 804 respectively, EX is lower at 755. This is because EX is the only one not showing old, in good standing AMEX accounts with me as an AU. But with my short credit history of only 5 years and most of my TL's less than 2 years reporting on EX, I would say 755 is quite good, I must be luckily....Or maybe FICO may just shoot out numbers arbitrarily.
masdeocho wrote:Maybe a modest boost. Credit scores are like fine wine -- you don't see significant changes over short periods of time. You have to let them ferment for many years. High FICO scorers have accounts between 6 - 12 years old.
I would have to say definitely yes! How much not sure! Mine went up between 10 to 15 on all three CRA's after cc's aged one year. Of course there were no baddies. Forcing the cc's into CLI's will only help you too. Push them to give you more or threaten to close your cards with them. I used this tactic. Tuscani or Brammy might know more!!!
jdeezy wrote:I have 9 years of credit history. I just noticed that the myfico reports has a section where it list the number of accts opened in the last year. The 3 accts that I have listed there will be removed from that section next month.Myfico takes into account the # of inquires in this last 12 months and excludes the rest, so I was just wondering if when those accounts become 1 year of age do you receive any points?