cancel
Showing results for 
Search instead for 
Did you mean: 

How many points does FICO increase per month?????????

Epic Contributor

Re: How many points does FICO increase per month?????????

I found this, it may or may not help you.

 

In general, a longer credit history will increase your FICO score. However, even people who have not been using credit long may get high FICO scores, depending on how the rest of the credit report looks. Your FICO score takes into account:

  • How long your credit accounts have been established. Your FICO score considers the age of your oldest account, the age of your newest account and an average age of all your accounts.
  • How long specific credit accounts have been established.
  • How long it has been since you used certain accounts.
     
    I know FICO rounds down to the nearest year so I am not sure how you have 8 months of history.    That is something I will have to ask about.
Message 11 of 14
Frequent Contributor

Re: How many points does FICO increase per month?????????


guiness56 wrote:

I found this, it may or may not help you.

 

In general, a longer credit history will increase your FICO score. However, even people who have not been using credit long may get high FICO scores, depending on how the rest of the credit report looks. Your FICO score takes into account:

  • How long your credit accounts have been established. Your FICO score considers the age of your oldest account, the age of your newest account and an average age of all your accounts.
  • How long specific credit accounts have been established.
  • How long it has been since you used certain accounts.
     
    I know FICO rounds down to the nearest year so I am not sure how you have 8 months of history.    That is something I will have to ask about.

Thanks.

 

Perhaps rounding "down" to the nearest year means all account <1 yr is considered 0 years old?

[10%+] Internet, Cable, Cell phone
[5%] Gas, Grocery, Amazon, Airline tickets, Drug Stores, Dept. Stores, Target, MyHabit
[3%] Restaurants
[2%] Everything Else
Message 12 of 14
Frequent Contributor

Re: How many points does FICO increase per month?????????


guiness56 wrote:

I found this, it may or may not help you.

 

In general, a longer credit history will increase your FICO score. However, even people who have not been using credit long may get high FICO scores, depending on how the rest of the credit report looks. Your FICO score takes into account:

  •  

  •  

 

This is true. My AAoA with Experiean is short (4 years), and EX08 scores me at 800. I didn't think that was possible with such a short AAoA.

 

 

 

Myfico scores.....
EX... 805 (11-10-13)
EQ... 810 (12-02-13)
TU... 810 (12-02-13)
Message 13 of 14
Frequent Contributor

Re: How many points does FICO increase per month?????????


Kratos-TM wrote:

guiness56 wrote:

I found this, it may or may not help you.

 

In general, a longer credit history will increase your FICO score. However, even people who have not been using credit long may get high FICO scores, depending on how the rest of the credit report looks. Your FICO score takes into account:

  •  

  •  

 

This is true. My AAoA with Experiean is short (4 years), and EX08 scores me at 800. I didn't think that was possible with such a short AAoA.

 

 

 


I got a 762 on TU 08 Classic with AAoA of 9 months.

[10%+] Internet, Cable, Cell phone
[5%] Gas, Grocery, Amazon, Airline tickets, Drug Stores, Dept. Stores, Target, MyHabit
[3%] Restaurants
[2%] Everything Else
Message 14 of 14