@CreditBob wrote:
It's the reason risk codes that are supplied by the credit bureau & not the creditor. So in other words how long does it take for a new account to be considered an established account by the credit bureau standards?
They could either be basing this on a FICO score, their own internal score, or based on the report itself. I've seen those same codes myself though used with a FICO and without.
If it's FICO-based, then know that it's a YMMV thing. It will vary between folks because of scoring buckets. A 6-yr history, based on what you posted anyway, is a relatively young history. I don't know when that'll go away, but it can certainly vary based on your credit. Some in here have posted that with a history at 20 or so years. Just means relatively speaking, their history is younger than others based on those who have a similar profile.
If internal score-based, then anything can go as you know. There are no scoring standards.
If report-based, then again it's based on the interpretation of data by the lender.
In all of the above, it depends on how the lender sees things. I've been approved with util above 50% for some credit items. I've had other lenders turn me down due to high util depsite having it at 15% or so. Likewise, someone with a 6 yr history might be fine for some lenders, but others may see it as a liability. YMMV.
