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Established Member
Posts: 57
Registered: ‎07-05-2007
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"Time since your most recent account opening is very recent"??

I know I saw this answer in this  forum before, but I did a search and couldn't find it again.
 
How long before a new account is not considered "new or recent" for credit scoring?
 
It is my first reason (I think that means most important) for my score not being higher.
 
Thanks
 
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
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Re: "Time since your most recent account opening is very recent"??



ficoachiever wrote:
I know I saw this answer in this forum before, but I did a search and couldn't find it again.
How long before a new account is not considered "new or recent" for credit scoring?
It is my first reason (I think that means most important) for my score not being higher.
Thanks



12 months.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
Posts: 3,071
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Re: "Time since your most recent account opening is very recent"??

[ Edited ]
deleted / duplicate.

Message Edited by ilovepizza on 08-30-2007 08:13 AM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
Posts: 3,071
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Re: "Time since your most recent account opening is very recent"??

Your score rebounds twice actually. 2 months and 12 months. But you will see that message if you have no other factors for 12 months. And believe it or not, sometimes longer. But the point loss is regained fully after 12 months.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
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Posts: 3,071
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Re: "Time since your most recent account opening is very recent"??

It's actually more complicated than this, but that is a general idea.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Moderator Emeritus
Posts: 16,382
Registered: ‎03-12-2007
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Re: "Time since your most recent account opening is very recent"??

6-12 months
Credit Profile:
FICO 9: EQ 833 ~ EX 828 ~ TU 824 (07-12-2017)
FICO 8: EQ 830 ~ EX 819 ~ TU 828 (07-12-2017)
FICO 8 Bankcard: EQ 851 ~ EX 849 ~ TU 851 (07-12-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 3% (1 CC reporting a balance)
Inqs: 1 EX (new)
14 Total Accounts on Reports: 9 open, 5 closed. 1 newly opened installment account
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Posts: 4,834
Registered: ‎04-20-2007
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Re: "Time since your most recent account opening is very recent"??

After two years they really start to help the scoring.

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