Installment loan hitting 1 year next month

[2wheel]

Just asking If I might get some fico brownie points for this I have 3 accounts open in past year.

[marty56]

I'm in the same boat with my auto loan.  Problem is the INQ for it will also turn 1 year but I'll post the info as soon as it turns 1 year.

Message Edited by marty56 on 05-15-2009 02:53 PM

[Anonymous]

---

@2wheel wrote:

Just asking If I might get some fico brownie points for this I have 3 accounts open in past year.

---

Possibly.

As the newest account ages and AAoA ages, you get gradual FICO increases.  Often this corresponds to "birthdays" and anniversaries of new and existing accounts.

What will most affect your score is your number of balances and utilization, followed by your AAoA and oldest account.  Your newest account factors in as it ages and also how it contributes to AAoA.

[2wheel]

thanks My AAoA Is almost 6 yrs now 2 more months to go This installment is going to hit 1 yr next month.

And Btw txjohn I got midland to GW ------ From another post I know thats going to shoot up fico A bit

[Anonymous]

---

@2wheel wrote:

thanks My AAoA Is almost 6 yrs now 2 more months to go This installment is going to hit 1 yr next month.

And Btw txjohn I got midland to GW ------ From another post I know thats going to shoot up fico A bit

---

Midland going away will be more critical to FICO than the new account if you are all ready at 6 years AAoA.  Was Midland your last derog?  If so, you will see significant gains.

Congrats!  Getting a CA, Midland no less, is a pretty big bonus.  They are not know to do such things.  Let us know how it all tallies up

[2wheel]

Ya last thing on report that is showing derogatory. But after I explained situation with csr rep and supervisor they are sending me a letter in mail for the GW Adjustment...