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Regular Contributor
Posts: 143
Registered: ‎01-13-2008
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What's considered "new credit"

and how does it affect my score?
I have an AMEX opened 3/07 and a Capital One opened in 7/07. Will my score jump up after being opened for a year? Not sure exactly how that works. Thanks =)

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FICO 8 as of 10/11/17: EQ 683, TU 684, EX 677 | Gardening commenced Friday the 13th (10/13/17) | Next app: 10/18 - 2nd AMEX

Super Contributor
Posts: 8,198
Registered: ‎03-25-2007
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Re: What's considered "new credit"

My personal experience is slow increase over a year and no real "jump".

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Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
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Re: What's considered "new credit"

[ Edited ]

MidnightVoice wrote:
My personal experience is slow increase over a year and no real "jump".


Exactly! Whether you get zero or a few points after 12 months depends on how many other revolving trade lines you have. If you have a few already I wouldn't expect much of a change. If these are your only 2 then you might see a small increase after 12 months. Most of the action from these accounts has already happened before 12 months. Smiley Happy

Message Edited by ilovepizza on 01-27-2008 09:08 AM
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Epic Contributor
Posts: 29,735
Registered: ‎03-19-2007
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Re: What's considered "new credit"

Unlikely increase.  A credit length of 1-2 years most often drives down your overall average, and is far below the average.  FICO risk stats posted by FaiIsaac shows that somewhere between 4-9 years is average risk.  This is not one of the FICO categories where you can either expect rapid increases, and more importantly, can do anything about other than not to further hurt it by closing older accounts or opening a lot of new ones that you really dont need. 

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