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Moderator Emeritus
LadyFICO
Posts: 273
Registered: ‎04-13-2007
0

Anyone knows what the score boost maybe on new accounts aging towards 1 year mark?

I have 3 cc that reach the 1 year mark soon, 2 in June and 1 in July and an installment loan in july as well. Does anyone know what the boost maybe for these aging to the 1 year mark. I know new credit is 10% of fico score (approx 85 points) and I have been told this is a negative factor for me. Do you think between now and august I should be getting a nice bulk of that fico score back?  I have a total of 5 new which will drop to 2 due to a new install getting ready to hit. (I will get dinged for new and overall util but I hope the aging will add to hx lessening the negative impact) 
 
Just hoping to see some other factors come into play to help boost the score.
Regular Contributor
KDM
Posts: 183
Registered: ‎04-17-2007
0

Re: Anyone knows what the score boost maybe on new accounts aging towards 1 year mark?

bump
Valued Contributor
TheNewWorldMan
Posts: 2,374
Registered: ‎03-15-2007
0

Re: Anyone knows what the score boost maybe on new accounts aging towards 1 year mark?



LadyFICO wrote:
I have 3 cc that reach the 1 year mark soon, 2 in June and 1 in July and an installment loan in july as well. Does anyone know what the boost maybe for these aging to the 1 year mark. I know new credit is 10% of fico score (approx 85 points) and I have been told this is a negative factor for me. Do you think between now and august I should be getting a nice bulk of that fico score back? I have a total of 5 new which will drop to 2 due to a new install getting ready to hit. (I will get dinged for new and overall util but I hope the aging will add to hx lessening the negative impact)
Just hoping to see some other factors come into play to help boost the score.





I don't think that age is 10% in the sense of being 85 points...bear in mind the lowest FICO you can have is 300, which means you're really talking a range of 550 points rather than 850, which would make 10% 55 points. Not that I think it works that way either.

The important thing is that you're laying the foundation for a good credit score in the future. Keep bugging the CC cos for CLIs every six to nine months. Keep utilization low. Try and pay off those loans ahead of schedule. Pay on time.
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in a credit-scoring postnuclear Stone Age...
Moderator Emeritus
LadyFICO
Posts: 273
Registered: ‎04-13-2007
0

Re: Anyone knows what the score boost maybe on new accounts aging towards 1 year mark?

Is that you NWM ?Thanks for you feedback sounds good! But what happened to when the soviets of the new world order. rise up then the fico score will go up....:smileyhappy:
 
FYI, I have those stubborn s/p cards that mostly do periodic reviews or they want to do a hard pull each time!
Valued Contributor
TheNewWorldMan
Posts: 2,374
Registered: ‎03-15-2007
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Re: Anyone knows what the score boost maybe on new accounts aging towards 1 year mark?



LadyFICO wrote:
Is that you NWM ?Thanks for you feedback sounds good! But what happened to when the soviets of the new world order. rise up then the fico score will go up....:smileyhappy:
FYI, I have those stubborn s/p cards that mostly do periodic reviews or they want to do a hard pull each time!





The last threat to my credit rating was the State of California child support agency...I had an arrears of around $450 and they were telling me they would put it on my credit report. When they told me that three weeks ago, I told them to go fornicate with themselves, because I was seriously POed at the whole system. I was making arrangements to relocate to Africa to get away from all the credit and child support BS. It's a 25-hour flight...

It took my fiance and her pastor and two friends of mine here to convince me to pay the bloody arrears and stay in the U.S. I still don't know if I made the right decision. For a little over twice that amount I could have been quit of America and child support commies forever.
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in a credit-scoring postnuclear Stone Age...
Moderator Emeritus
LadyFICO
Posts: 273
Registered: ‎04-13-2007
0

Re: Anyone knows what the score boost maybe on new accounts aging towards 1 year mark?

Now that is the new world man I know. Don't think about the ex just think about the children really could use dad's support.

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