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When is an account no longer considered "new"?

Frequent Contributor

Re: When is an account no longer considered "new"?

Man, thanks for dropping the knowledge. Unreal. As for the clean account. There is one last item on my reports remaining. An old judgement that is due to drop off in March. After that I'll be 100% clean as a whistle. Don't know what to expect as far as scores then.
FICO 8:  EQ:687  TU:728  EX:735
Community Leader
Senior Contributor

Re: When is an account no longer considered "new"?

Hi 805.  If your reports gp from dirty to clean, that wiil certainly be a rebucketing event.  There are four scorecards for dirty profiles and eight for clean.

 

The only exception would be if the derogs present were a small number of Day 30 lates.  FICO 8 considers a profile like that "clean" for the purposes of scorecard assignment.  If, on the other hand you have substantially more serious derogs just before your last derogs go away, then you will definitely be assigned to a new scorecard.

Frequent Contributor

Re: When is an account no longer considered "new"?

No lates whatsoever. Just the one last piece. I should probably change my name to 760 or bust because once I get to 760 again all the damage from 8 years ago will be undone and I could care less what my scores are above that :-)  May is going to be interesting tho since it looks as if I'll be rebucketed again according to you guys. Good stuff CGID.  Smiley Happy

FICO 8:  EQ:687  TU:728  EX:735
Valued Contributor

Sorry

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