topic Re: Score Only Jumped 3 Points in Understanding FICO® Scoring

Score Only Jumped 3 Points

ScoreSizzle — Thu, 13 Oct 2022 18:39:13 GMT

So I was waiting for my Length of Credit History to hit seven years to see if my scores would jump.

Only 3 points on my TransUnion.

Not sure why I thought all of them would jump.

I wasn't supposed to resume my account until next month but saw a post about people getting hit with a hard pull from TU even with frozen accounts so I restarted it early to only a 3 point jump

Re: Score Only Jumped 3 Points

Anonymous — Thu, 13 Oct 2022 19:16:27 GMT

How is average age over 7 yrs not exceptional, only very good 😅

Re: Score Only Jumped 3 Points

ScoreSizzle — Thu, 13 Oct 2022 19:23:17 GMT

@Anonymous wrote:
How is average age over 7 yrs not exceptional, only very good 😅

Guess that's only saved for them decade folks, lol.

Re: Score Only Jumped 3 Points

FireMedic1 — Fri, 14 Oct 2022 08:48:01 GMT

Its been said back and forth 7yrs 8 months is the peak. Its only 15% of your score. Its age that matters for lenders over AAoA's. You can have your AAoA's where its at now. Get a new card and that resets age of AoYA (newest) to 0 months and drops the AAoA's also. Old accounts 20+yrs help alot. Get a new card and stay above 7.8 yrs AAoA's wont hurt a thing. In other terms. The golden yrs are great!

Re: Score Only Jumped 3 Points

ScoreSizzle — Fri, 14 Oct 2022 13:27:14 GMT

@FireMedic1 wrote:
Its been said back and forth 7yrs 8 months is the peak. Its only 15% of your score. Its age that matters for lenders over AAoA's. You can have your AAoA's where its at now. Get a new card and that resets age of AoYA (newest) to 0 months and drops the AAoA's also. Old accounts 20+yrs help alot. Get a new card and stay above 7.8 yrs AAoA's wont hurt a thing. In other terms. The golden yrs are great!

That will be April for me then. Hopefully it's true.

Re: Score Only Jumped 3 Points

SouthJamaica — Fri, 14 Oct 2022 14:43:36 GMT

@FireMedic1 wrote:
Its been said back and forth 7yrs 8 months is the peak. Its only 15% of your score. Its age that matters for lenders over AAoA's. You can have your AAoA's where its at now. Get a new card and that resets age of AoYA (newest) to 0 months and drops the AAoA's also. Old accounts 20+yrs help alot. Get a new card and stay above 7.8 yrs AAoA's wont hurt a thing. In other terms. The golden yrs are great!

Based on what?

Many things have been "said back and forth" here which turn out not to be so.

Re: Score Only Jumped 3 Points

FireMedic1 — Sat, 15 Oct 2022 13:29:03 GMT

@SouthJamaica wrote:
@FireMedic1 wrote:
Its been said back and forth 7yrs 8 months is the peak. Its only 15% of your score. Its age that matters for lenders over AAoA's. You can have your AAoA's where its at now. Get a new card and that resets age of AoYA (newest) to 0 months and drops the AAoA's also. Old accounts 20+yrs help alot. Get a new card and stay above 7.8 yrs AAoA's wont hurt a thing. In other terms. The golden yrs are great!
Based on what?

Many things have been "said back and forth" here which turn out not to be so.

The more years you can put between you and your first (successful) credit card application, the more your score will benefit. As you add new credit, however, your average will drop. While there is no golden number to aim for, getting your average age of credit to between six and 10 years is probably a good goal. My responce is from what I took in over the years here and based my responce on that. No I didnt hang out in this sub-forum from day 1. Combination of all I have taken in over the years which led me to my responce. JMO. Its team effort and many responces everyone pitches in to get the responce at hand or as close as possible. Comes down to 1 thing. Account age. AAoA's not so much unless it drops below 2 yrs. Older the better.

https://www.myfico.com/credit-education/credit-scores/length-of-credit-history

Re: Score Only Jumped 3 Points

SouthJamaica — Sat, 15 Oct 2022 14:53:22 GMT

@FireMedic1 wrote:
@SouthJamaica wrote:
@FireMedic1 wrote:
Its been said back and forth 7yrs 8 months is the peak. Its only 15% of your score. Its age that matters for lenders over AAoA's. You can have your AAoA's where its at now. Get a new card and that resets age of AoYA (newest) to 0 months and drops the AAoA's also. Old accounts 20+yrs help alot. Get a new card and stay above 7.8 yrs AAoA's wont hurt a thing. In other terms. The golden yrs are great!
Based on what?

Many things have been "said back and forth" here which turn out not to be so.
The more years you can put between you and your first (successful) credit card application, the more your score will benefit. As you add new credit, however, your average will drop. While there is no golden number to aim for, getting your average age of credit to between six and 10 years is probably a good goal. My responce is from what I took in over the years here and based my responce on that. No I didnt hang out in this sub-forum from day 1. Combination of all I have taken in over the years which led me to my responce. JMO. Its team effort and many responces everyone pitches in to get the responce at hand or as close as possible. Comes down to 1 thing. Account age. AAoA's not so much unless it drops below 2 yrs. Older the better.
https://www.myfico.com/credit-education/credit-scores/length-of-credit-history

Agreed. The older the better. There is no golden number, or if there is one... we don't know what it is

Re: Score Only Jumped 3 Points

FireMedic1 — Sat, 15 Oct 2022 15:09:12 GMT

@SouthJamaica wrote:
@FireMedic1 wrote:
@SouthJamaica wrote:
@FireMedic1 wrote:
Its been said back and forth 7yrs 8 months is the peak. Its only 15% of your score. Its age that matters for lenders over AAoA's. You can have your AAoA's where its at now. Get a new card and that resets age of AoYA (newest) to 0 months and drops the AAoA's also. Old accounts 20+yrs help alot. Get a new card and stay above 7.8 yrs AAoA's wont hurt a thing. In other terms. The golden yrs are great!
Based on what?

Many things have been "said back and forth" here which turn out not to be so.
The more years you can put between you and your first (successful) credit card application, the more your score will benefit. As you add new credit, however, your average will drop. While there is no golden number to aim for, getting your average age of credit to between six and 10 years is probably a good goal. My responce is from what I took in over the years here and based my responce on that. No I didnt hang out in this sub-forum from day 1. Combination of all I have taken in over the years which led me to my responce. JMO. Its team effort and many responces everyone pitches in to get the responce at hand or as close as possible. Comes down to 1 thing. Account age. AAoA's not so much unless it drops below 2 yrs. Older the better.
https://www.myfico.com/credit-education/credit-scores/length-of-credit-history
Agreed. The older the better. There is no golden number, or if there is one... we don't know what it is

Give it time. Nothing gets past the FICO Forums.......LOL!!!!!!!!!!!!!!!!!!