Reply
Valued Member
Posts: 47
Registered: ‎02-01-2009
0

Re: One year Mark for new accounts = credit score boost???

thanks for your swift reply!

 

ahh okay dokie. guess I'll have to wait a year and see bahh


EQ: 658 FICO / EX: 600 FICO / TU: 649 FICO / EQ: 637 USAA FAKO / EX: 637 USAA FAKO / TU: 700 USAA FAKO
Credit Karma: 590 / Credit Sesame 572
Positive Open Loan Tradelines: DCU (auto loan) $31000 / One Student Loan
24 Cards TOTAL = 9 Store cards / 4 Secured Card / 11 Credit Cards / Cards In Wallet - BoA Americard / NEWEST CARD - Blaze Mastercard
goal by 2015: UNDER 8000K in credit card debt
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: One year Mark for new accounts = credit score boost???

Pay attention to when AAoA crosses year marks as that gets you boosts.

 

1 year mark on inquiries really lessens their impact on score.

 

The new account hit is usually pretty much gone by 6 months and majority by 3 months.

               LIMITS IN CARD DESCRIPTIONS
Frequent Contributor
Posts: 373
Registered: ‎05-23-2012
0

Re: One year Mark for new accounts = credit score boost???

My scores increased six months after my new accounts, but as others have said, its a ymmv situation. You'll probably see an increase after six months though.
Community Leader
Senior Contributor
Posts: 26,694
Registered: ‎02-07-2013
0

Re: One year Mark for new accounts = credit score boost???

It all depends on the size and contents of your CR's 

I have seen 3 different reactions 

 

1) scores decreased dramatically -21 and it took 4 months to recover (3 card app) June 2012

2) scores increased +9 (2 card app) December 2012

3) scores only suffered minor decrease and took 2 month to recover -8 points (4 card app) June 2013

 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/13


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 based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.