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When will the dinge for the "short credit history" go away?

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New Contributor

When will the dinge for the "short credit history" go away?

My credit hx is 7 years and 3 months. AAoA slightly above 3 years. I am curious when the short credit history will stop being listed in my negative comments. That's my only negative.

 

Thanks!

Message 1 of 7
6 REPLIES
Moderator Emerita

Re: When will the dinge for the "short credit history" go away?

You must be up above 760 or so! --congrats.

This might well be looking at you for several more years. As this is your only negative, that means that the only thing that you can do is to keep being responsible and avoid getting any new credit.

It's possible that once your AAoA hits 5 years, the comment will go away, but only if your scores have cracked 800. Otherwise, the formula feels obliged to criticize you for something, and this is the best that it can do.

Take it as a compliment, and continue managing your credit responsibly.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 7
New Contributor

Re: When will the ding for the "short credit history" go away?

Thanks, haulingthescoreup, yes, I am in the 760 and above range (TU 785 2/21/09 and EQ 764 4/18/09). I would love to hit 800 at 5 year AAoA mark - I will keep my fingers crossed!

 

Credit gardening is so boring.... and so slow....

Message Edited by BabyBlue on 04-18-2009 03:38 PM
Message 3 of 7
Senior Contributor

Re: When will the dinge for the "short credit history" go away?

Based upon the "averages" of FICO high achievers, you are considered to have young/short credit when your oldest account is less than 19 years and your AAoA is less than 6.

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 4 of 7
New Contributor

Re: When will the dinge for the "short credit history" go away?

Yes, I know what the average FICO high acheivers' characteristics are. But does that mean that when someone reaches the "average" qualities the negative comment goes away? Or does it happen some time before/after that point?
Message 5 of 7
Moderator Emerita

Re: When will the dinge for the "short credit history" go away?


BabyBlue wrote:
Yes, I know what the average FICO high acheivers' characteristics are. But does that mean that when someone reaches the "average" qualities the negative comment goes away? Or does it happen some time before/after that point?

I don't think it's that clean-cut.

There are people with ages around yours that don't get this hit, and others with older history who do. There are so many different factors being looked at, and as your age increases, you will probably be assigned to new score buckets (groups of consumers with credit profiles similar to yours.) I wouldn't be surprised if this comment appears and disappears as you go along.

Once you're down to having that as your only negative, I think it's more appropriate to look on it as an "observation" than anything else.

As it appears that those with scores over 800 are immune from negative comments, so once one of your scores hits 800, I'll bet you'll get one of those "there are no negative factors seriously influencing your score." Something like that --I'm a long way from seeing that one, lol, so I don't remember the precise wording.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 6 of 7
Senior Contributor

Re: When will the dinge for the "short credit history" go away?


...only if your scores have cracked 800. Otherwise, the formula feels obliged to criticize you for something, and this is the best that it can do...

Yep, my scores typically come out from upper 700s to the 820s as my credit card balances fluctuate.  My wife and I have good jobs, carry very little cash, use CCs a lot, and pay in full at the end of each month so my total revolving balance might be 600 bucks one month and 4000 bucks the next depending on spending during that month.  A FICO score of 797 gets a hyper-picky comment, while a FICO score of 804 gets "no negative factors."  Oddly enough I've never seen one of my scores be exactly 800, it's always above or below.

 

Edited to add actual quotes from two FICO reports, one 804 and one 797.

 

804

What’s hurting your FICO® score
Because your FICO® score is exceptionally high, there are no actionable negative factors present with your score. Continue to manage your credit as you currently are doing to maintain your very high FICO® score.

797

What’s hurting your FICO® score
The negative factors listed here are reasons why your FICO® score is not higher. You should focus on changing the behavior that caused these negative factors. These factors are listed in order of their impact to your score, the first has the greatest negative impact and the last has the least.
Please note that a negative factor can be provided even if you are better than the national average of FICO® high achievers on that factor. In all likelihood, this means that your FICO® score is already quite high. The fact that you are still receiving a negative factor means that there is still some room to work on that factor

 

Message Edited by MattH on 04-20-2009 09:42 PM
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Message 7 of 7