topic Re: One year anniversary of Capital One card in Understanding FICO® Scoring

One year anniversary of Capital One card

Anonymous — Fri, 28 Aug 2015 16:42:50 GMT

Does anyone know if I will get a credit score increase once my Capital One cars hits the one year mark next month? Thanks.

Re: One year anniversary of Capital One card

jamie123 — Sat, 29 Aug 2015 00:46:50 GMT

We need to know a bit more about your credit profile to give you accurate advice but yes, you should see a small bump.

How many credit cards do you have?

Do you have any other credit on your reports?

Do you have any baddies?

Re: One year anniversary of Capital One card

ddemari — Sat, 29 Aug 2015 04:56:27 GMT

OP- I think 2 years aging on a credit card is best for fico scoring bump. now that your card is a year old, your accounts opened in the past year decreases, which is a good thing! Keep up the work and you will see increases in your score over the course of the year.

Re: One year anniversary of Capital One card

Anonymous — Sat, 29 Aug 2015 18:18:25 GMT

Thank you. I have two other credit cards, one opened in April and a QS1 opened in July of this year. I keep two at 0 and 9% or less on the Captital one platinum.

Re: One year anniversary of Capital One card

Revelate — Sat, 29 Aug 2015 19:53:16 GMT

@Anonymous wrote:
Does anyone know if I will get a credit score increase once my Capital One cars hits the one year mark next month? Thanks.

Based on my data, no.

I pulled several reports from here (3B and 1B at various points) during my mortgage process, during which I had a tradeline go over 1 year. Zero change.

There may be a seasoning boundary at 6 months, which would fit pretty much everyone's assertion I've ever seen with my own data (where inquiries are not graded on age at all, just a simple count metric), and I was once told that it was there over beers by someone that really should know, but never heard an official release one way or the other on it.

Re: One year anniversary of Capital One card

Anonymous — Sat, 29 Aug 2015 23:47:29 GMT

Ok, thank you. I'm trying to get ready for a mortgage next spring and my fico mid score is 607, so I am trying to get it up to 640 by then, or 660.

Re: One year anniversary of Capital One card

Revelate — Sun, 30 Aug 2015 01:26:39 GMT

@Anonymous wrote:
Ok, thank you. I'm trying to get ready for a mortgage next spring and my fico mid score is 607, so I am trying to get it up to 640 by then, or 660.

Focus on getting derogatories whacked and prettying up your balances. If you don't have any installment tradelines currently might make sense to add a secured loan when we're talking 6+ months out as one can play the installment utilization reindeer game and beneficially help your EX Risk Model v2 which is part of the mortgage trifecta, but otherwise just sit on your hands credit wise.

Re: One year anniversary of Capital One card

Anonymous — Sun, 30 Aug 2015 07:40:35 GMT

I do have w car loan that I have had for two years. I've made in time payments on it for the last year. I have removed one baddie and settled the two other collections on my account. What is hurting my scores is an old account with Chase that is not due to fall off until 2019 that is still updating every month. I haven't contacted them because I want to save up and try to do a PFD and pay in full.