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I haven't been able to find an answer to this. I know it's not cut and dry for everyone, but, some round about answers will help. I recently acquired a secured cc through Capital One. I was wondering how long it would take for this card to affect my credit score. My limit is only $200 and my first statement came out on 12/6 with a high balance but not maxed out. Since then I have had a zero balance on all my statements since I know now when the statment comes out. Any ideas? Thanks!!
Your AAoA will change as soon as it reports. Your utilization will change whenever your statement balance is reported. The inquiries get reported at application time.
All of these affect your FICO score.
Thanks for the help! I suppose I need to see how often Capital One reports to the credit bureaus. I'm still learning!
@Anonymous wrote:Thanks for the help! I suppose I need to see how often Capital One reports to the credit bureaus. I'm still learning!
Most CC's report sometime after the statement date, so whatever is on your next statemetn is what will go to the CB's. But sometimes it takes time, and some cc's don't report until your 2nd statement.
pls allow 6 to 8 weeks after u open account
I had a secured card on my credit which hurt my AAoA but once it reachs 6 months the Fico Calculation doesnt count it as a New Account any more and it changes your AAoA to normal because when i got mine it was made 1 year 9 months average age then after 6 months which was in december i checked it january first and it has changed back to 4 years 2 months.
@Jonbuck06 wrote:I had a secured card on my credit which hurt my AAoA but once it reachs 6 months the Fico Calculation doesnt count it as a New Account any more and it changes your AAoA to normal because when i got mine it was made 1 year 9 months average age then after 6 months which was in december i checked it january first and it has changed back to 4 years 2 months.
I don't think it should work that way. Can you explain more?
what do you mean?
ok here this is from my Fico Pull on November 17
Average age of your accounts
1 yearMost FICO High Achievers have an average age of accounts between 6 and 12 years.
and here is from my January 25, 2012
Average age of your accounts
4 yearsMost FICO High Achievers have an average age of accounts between 6 and 12 years.
So you see after 6 months they dont count it as a new account anymore.
@Jonbuck06 wrote:I had a secured card on my credit which hurt my AAoA but once it reachs 6 months the Fico Calculation doesnt count it as a New Account any more and it changes your AAoA to normal because when i got mine it was made 1 year 9 months average age then after 6 months which was in december i checked it january first and it has changed back to 4 years 2 months.
It might not count as a new account, but your AAOA will still take the hit. The average age of accounts is the average age of your accounts, it's not like the card is going to backdate suddenly. Makes no sense to me why your AAOA would change like that.. unless something's wrong somewhere.