Confirmed this time for sure. ...this age old question; account aging to 1 year?

[Anonymous]

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@Anonymous wrote:
C. No change in score means score dropped for higher UTL, Score increased for account aging 1 year. (Must wait until next month)

D. No change in score means UTL did not drop score, Account aging did not increase score. (Must wait until next month)

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SW said no score change. So now we need to wait for Discover to update a $0 bal again to know for sure that UTL didn't affect the score. My personal feeling is that there were no points gained for account 1 year birthday if no red flag. But This is only a guess and won't have a real answer until UTL is exactly the same again. 3 more weeks for that answer. I was hoping and really hoping that there were some magic points after 12 months. So lets see what happens in 3 weeks. Maybe my guess is wrong. Could just be a score drop in UTL offsetting the gain.

So if this is correct there is a bright side to this anyway, all those app happy people may not have to worry about too many new accounts. It would not hurt all people to have new accounts. It will hurt avg age but 3 months old or 1 year old might not make a difference on select CRs. I am somewhat bummed because I really was looking forward to a point gain from this too. But I won't be so afraid to apply for new tradelines any more if correct. Inqs however are still the enemy!

Message Edited by ilovepizza on 08-03-2008 03:06 PM

[Anonymous]

I forgot about the FICO score simulator for UTL changes. Just ran it, no change in score. Confirmed. No score change for 1 year birthday when no other accounts are less than 12 months when there is no red flag.

The fact that it says that it is negative seems to be misunderstood on this specific credit report. I expect to see the same on my personal report too since I didn't have a red flag either. Accounts less than 12 months does not hurt this CR. The only factors that were truly negative was avg age loss and inquiries. Maybe thats was what they were talking about when they say accounts that are less than 12 months old is a negative factor,,, the inqs will count for 12 months?

However the interesting part was this much younger file than mine clearly in a different bucket that I can see now, had a HUGE sweet spot for max UTL points. My CR which is older has a very narrow window to hit max UTL points.

Test is complete unless someone else finds a profile with "no red flag" that actually gained points for 1 year birthday. Please make sure it is not age or history but actually birthday points.

As for the accuracy of the SW Simulator I used it used to be right on accurate for me. Hadn't used it in a while so it might run differently if changes were made to it. If anything changes in 3 weeks when the UTL is back were it originally was I will update. I am going with this simulator for now.

Message Edited by ilovepizza on 08-04-2008 03:41 PM

[smallfry]

pizza I know that I am in a different bucket than you guys are but my results when 10 accounts aged to 1 year was no change at all. This occurred a couple of months back. The red flag is gone for new accounts under a year old.

Utilization was the same 1% and change rounded up to 2%. Less than 50% of all accounts reporting a balance. No account reporting more than 4%.

[haulingthescoreup]

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@smallfry wrote:
pizza I know that I am in a different bucket than you guys are but my results when 10 accounts aged to 1 year was no change at all. This occurred a couple of months back. The red flag is gone for new accounts under a year old.

Utilization was the same 1% and change rounded up to 2%. Less than 50% of all accounts reporting a balance. No account reporting more than 4%.

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That's pretty disappointing! I was hoping for a bit of a recovery. I suppose I'm not that surprised, though, as I wasn't getting that much of a projected score bump on the sims.

[smallfry]

Quite disappointing to be sure Hauling. I was doubly surprised at my inability to move higher when I heard a poster 7 years out of BK with only 4 years average age post score over 775 across the board over at CB last week. I can imagine the hit I will take when I get rebucketed with the no public record crowd and an average age just slightly under 5 years once my BK drops.

[Anonymous]

Interesting.  I am 8.9 months out of BK and no where near 775.  highest 727.  WAMU bankrate 736.  I wonder what gives.  I did run that test on my credit and says I should be 775.???????

[smallfry]

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@Anonymous wrote:

Interesting. I am 8.9 months out of BK and no where near 775. highest 727. WAMU bankrate 736. I wonder what gives. I did run that test on my credit and says I should be 775.???????

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His lowest score was 776 the others nearly 790 just 7 years from filing date BK7. I was shocked to see his average age only 4 years. My highest is TU at 731. One public record the BK that from April 2000. 8 years 4 months. Average age 3 years 4 months. No inquiries. 4 accounts opened in past year. 3 from last October 1 from this past May. Utilization 2%. 25K car loan took out June 2007. Balance $100. 1 store card. I'd like to know where my 50 points went. Oldest account is 12 years 8 months. I can't figure this stuff out. Maybe I got penalized for closing 5 accounts that I opened after May 2007. I dunno.

[MidnightVoice]

Can someone remind me what the question was, and what the answer is? 

In simple terms please. 

[Anonymous]

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@MidnightVoice wrote:

Can someone remind me what the question was, and what the answer is?

In simple terms please.

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What happens when your youngest account has a 1 year birthday if no red flag. Nothing happens. No points gained.

[Anonymous]

That's what I pretty much thought all along...there are no hard, set age markers except for when entries drop off. Aside from that, I think it's just month by month, with no single month or round number of months having any more impact than any other month.