When is one considered 0/12?

[PlatoPuss]

If I have an account opened on January 28th, 2020* when am I safe to apply for cards (US Bank Cash+) that look for 0/12? 

Do I need to wait an extra month? Thanks so much in advance. If there's any way to check I'd really appreciate it, thanks!

EDIT: Very sorry about the chaos I've created and thanks to everyone who took the time to respond! Merry Christmas to everyone! That was in fact a typo, the account was opened on January 28th, 2020. Again I'm very sorry!

[Anonymous]

That account reaches 12 months of age on Jan 1. 

[FalconSteve]

It varies. Most will look at whatever openign date is reported on your credit report, but a lot of people like to wait an extra month to be safe.

[imaximous]

To be 0/12, you should wait till the first of February to apply. 

In general, you want to wait at least until the first day of the month following your anniversary date. 

[silver_idle]

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@PlatoPuss wrote:

If I have an account opened on January 28th, 2019 when am I safe to apply for cards (US Bank Cash+) that look for 0/12? 

Do I need to wait an extra month? Thanks so much in advance. If there's any way to check I'd really appreciate it, thanks!

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Usually upon the first day of the 12th month of the account being open is fine for many creditors but I would generally wait for the creditor to report on the CR to be safe. All up to you. You shouldnt need to wait an extra month though. 

[GApeachy]

Seems to me that 1 yr. would be 365 days from date last acct reports as opening.  So on day 366?  If it were me, I'd wait until the following month though just in case FI's have their own policies about what counts or doesn't in the case (# new accts/year)

[KJinNC]

If your last new account was opened in January 2019, you were 0/12 in February of this year (2020), 10+ months ago. You would be 0/24 this coming February (2021). If that was a typo and you meant your last new account was opened this January, then, I would say you'll be 0/12 this coming February. Technically, you would reach those milestones exactly a year after the account opened, but I wouldn't trust whoever is evaluating your report to be pinpoint accurate in your favor, so that's why I say February.

[Anonymous]

I guess it depends on whatever internal software a lender uses to evaluate account dates on one's CR.  We know that Fico considers all accounts to age 1 month on the 1st of every month... so even an account that's 1-2 days old opened at the end of any given month is then 1 month old in a couple of days on the 1st.  I would imagine lenders have the ability to handle this differently on their end... either the same way the Fico algorithm does where 12 months could actually be ~335-364 days, or if they look at the exact opened date of the account naturally it could take a full year. 

I guess as a best practice one should wait a full 365 days (like the inquiry associated with the account) unless they know the specific internal policy that the lender follows.

[imaximous]

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@KJinNC wrote:

If your last new account was opened in January 2019, you were 0/12 in February of this year (2020), 10+ months ago. You would be 0/24 this coming February (2021). If that was a typo and you meant your last new account was opened this January, then, I would say you'll be 0/12 this coming February. Technically, you would reach those milestones exactly a year after the account opened, but I wouldn't trust whoever is evaluating your report to be pinpoint accurate in your favor, so that's why I say February.

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Good catch on the opening year. OP is indeed closer to 0/24 now, so definitely more than safe to apply.

[FalconSteve]

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@imaximous wrote:

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@KJinNC wrote:

If your last new account was opened in January 2019, you were 0/12 in February of this year (2020), 10+ months ago. You would be 0/24 this coming February (2021). If that was a typo and you meant your last new account was opened this January, then, I would say you'll be 0/12 this coming February. Technically, you would reach those milestones exactly a year after the account opened, but I wouldn't trust whoever is evaluating your report to be pinpoint accurate in your favor, so that's why I say February.

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Good catch on the opening year. OP is indeed closer to 0/24 now, so definitely more than safe to apply.

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More proof that we read what we expect, not always what is in front of us.