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How much can a score increase within a year?

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Anonymous
Not applicable

How much can a score increase within a year?

PIF, no baddies, 3 cards, less than 10% util. How many points do you think can be added by next year?

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Thomas_Thumb
Senior Contributor

Re: How much can a score increase within a year?

It really depends on your current score(s) - and other factors such as:

 

1) Current aggregate utilization % (since you are already under 10% no likely bump here)

2) # cards you have and # reporting a balance (If reporting a balance on all 3, drop to 1 for a score boost - perhaps 10 to 15 points)

3) Age of cards and whether you will go though an age threshold for newest account or AAoA (Your youngest account will reach a year old and that should provide a boost in score - not sure how much. You may also see an additional boost when your  AAoA reaches 2 years age)

4) You have inquiries less than 6 months old that all will reach a year age in 12 months (could get a 15 to 30 point boost  - assuming no new inquiries)

5) Credit mix (do you have an installment loan or will you be getting one?)

 

What are your current scores?

 

Assuming you are currently in the 650 to 670 range, a potential increase of 40 or 50 points is certainly possible by 9/2016.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
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