Credit Cards Center Credit cards from our partners
Reply
Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

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.
Frequent Contributor
Posts: 371
Registered: ‎09-17-2012
0

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
Frequent Contributor
Posts: 431
Registered: ‎05-23-2013
0

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)
Frequent Contributor
Posts: 371
Registered: ‎09-17-2012
0

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
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.