Credit Challenge - 6 month mark - predict the change!

[Anonymous]

Predict what will happen, I'll update the thread with the actual results.

Situation: On my Experian report my only two inquiries under 6 months are about to age to 6 months (of a total of 7 inquiries all under 1 year). Also, the accounts associated with them are about to age to six months (of a total of 6 accounts, 5 under 1 year). This will move me from having two accounts and two inquiries under 6 months, to no accounts and no inquiries under 6 months. 

During this time no accounts will age over 1 year, the number of accounts reporting a balance will remain constant, and total utilization will remain low (1-2% as all my spend is on my PRG and isn't counted). You can see details of the inquiries by hovering over the 'i' in my signature. You can also hover to see account details there.

The inquiries will age to 6 months on the 3rd of October. Since Experian lists accounts as being opened on the 1st regardless of the date, the accounts should age to 6 months on the 1st of October. The actual opening day of the accounts was the 3rd, like the inquiries, but shows as the 1st on my report.

I will use CreditCheckTotal to check my score every day and note any change as these dates come and go. It is possible NOTHING will happen, that my score will stay steady at 733, indicating that aging to 6 months is irrelevant to FICO. Or there coudl be a slight increase.

Predict! I will follow up with actual results.

[Thomas_Thumb]

No points for inquiries reaching 6 months. Perhaps 5 to 10 points for youngest accounts reaching 6 months. Not sure if you can separate the two events given your inquiries were new cc related. Please report # cards reporting along with aggregate UT % now/after. Any change with # cards reporting may void the test.

[Anonymous]

Two credit cards reporting plus my PRG. Experian says my utilization is 1%. Amazon card is at 13%.

PRG has a full month worth of spending reporting on it but charge cards don't seem to be counted by Experian for utilization purposes.

[Thomas_Thumb]

---

@Anonymous wrote:
Two credit cards reporting plus my PRG. Experian says my utilization is 1%. Amazon card is at 13%.

PRG has a full month worth of spending reporting on it but charge cards don't seem to be counted by Experian for utilization purposes.

---

Charge cards may be categorized differently for UT depending on the CRA. However, charge cards are lumped in with revolving credit cards in the # open accounts reporting a balance regardless of the CRA. So, if # open accounts reporting a balance changes, it will skew results.

[Anonymous]

Tomorrow is the first milestone, based on Experian recording my account opening dates as the 1st, the two under six months should report as aging to 6 months tomorrow. AAoA should go from 9 to 10 months and oldest account from 13 to 14 months.

My EX score remains 733 this morning, and I updated my 3 bureau at CredirCheckTotal just now so that if anything changes tomorrow I can inspect the differences.

Inquiries will hit six months in a couple of days, on the 4th.

This should give us data on whether the six month mark is significant either for inquiries or for account age.

As mentioned above, this will move me from two accounts and two inquiries under six months to none under six months. I will monitor every day over the next week for changes.

Last minute predictions?

[Anonymous]

I will also see if anything changes at TU and EQ, but by pulling another 3 bureau in a week, I don't have the daily monitoring of those that CCT gives me for EX so we will get a fine grained answer only for EX.

[Revelate]

At least on my data, inquiries count for the entire year.  No fading as has been so often reported on these forums... and I think that the reports on that have been erroneous personally but it's hard to get truly excellent data points on most people's files.

During the mortgage process though I had enough pulls on Beacon 5.0 to really track it with a truly stable file as the inquiries weren't tradeline related.  Damned Verizon hehe:

3 -> 2 -> 3 -> 2 -> 3 scorable inquiries

693 -> 700 -> 693 -> 700 -> 693

As TT suggests 6 months might be the seasoning boundary for tradelines; I didn't get anything when my tradelines ticked over a year though but I've never been able to try to track out the 6 month mark... might be able to back track it somewhat since seeing the inquiry data at least for my file.

[Anonymous]

Experian has updated my AAoA to 10 months and oldest account to 14 indicating that it has recognized Oct 1 as the date on which accounts age. This would imply it sees my two youngest accounts as having reached 6 months as well.

Score remains constant at 733.

Will keep watching in case there is a change later today or tomorrow.

[Anonymous]

Data point: I just had Discover hit 1.5 years. EX +4. Only change on report in 3 months. All else bumps in a couple weeks. Util. Increased 1%.

[Anonymous]

Score went to 736 today, up three points, but I think that is because Amazon card payment reported dropping utilization on that card from 13% to 3%.

I will keep monitoring. At this point it looks like inquiries aging doesn't matter but it is unfortunate that the Amazon card reported today. I guess I can watch and see if my score goes back to 733 next time Amazon card goes over 10%.