topic Re: New Account Ding? in Understanding FICO® Scoring

New Account Ding?

nickf4rr — Fri, 26 Apr 2013 03:54:26 GMT

There's one new account I opened up, but there's no HP listed on the credit reports i get my FICO from. (HP hit EX, apparently.)

What's the affect of a New Account my score, aside from lowering AAoA? Given that I have 17 accounts open, this account didn't really budget my AAoA much. Is "New Account Ding" reflective of anything except hit to AAoA?

Re: New Account Ding?

llecs — Fri, 26 Apr 2013 21:11:48 GMT

With no other changes to my FICO report and zero impact to AAoA, I've lost as much as 20-25. And this was completely aside to mix of credit and impact to util, which should be taken into account too when figuring the impact.

Re: New Account Ding?

dddewdrop — Sat, 27 Apr 2013 14:01:07 GMT

Besides AAoA a new account will affect your utilisation % if you have any balances on other cards. For example if you have a second card with a $1000 credit limit that has a $500 balance and you get a new account with a credit limit of $1000 then your util% will go from 50% to 25% and you may see your scores pop up a bit.