11 month or 1 year, does it really make a difference
[ Edited ]
06-21-2012 11:30 AM - edited 06-21-2012 11:32 AM
Okay, so I currently have a CC that is 11 months ago (shows opened 7/1/2011), and my biling period closes on the 19th, so my balance is reported to the CRAs on the 20th (usually). My question is, does having a card open for 11 months versus 1 year make a significant difference in FICO scoring? I heard FICO rounds down, so my AAoA would actually show 0, instead of the .9 years, is this true?
I'm going to be applying for 2 new CCs (only have 1 at the moment, and it's my only line of credit), and I'm wondering if I should give it another month so it shows up as 1 year on all my reports before applying for anything. Will waiting the extra month give my FICO scores a boost?
Here is where I currently sit:
EQ - one revolving account (never late, 11 mo. old), and 1 inquiry (6/5/11) Score: unknown
TU - one revolving account (never late, 11 mo. old), and 1 inquiry (6/28/11) Score: 698 (6/7/12 from myFICO.com)
EX - one revolving account (never late, 11 mo. old), and 1 inquiry (6/5/11) Score: unknown
Util is showing 8% for all 3 as well for my CC.
I suppose waiting an extra month would also make it so I wouldn't have any inquiries in the past year, which would probably also boost my score some.
Any insight or advice would be greatly appreciated.