When are New Accts not new anymore?

[Anonymous]

I'm just curious as to when "New CC Accts" are not new anymore, is it once they hit the one year mark?

Thanks in advance for any info.

And Happy Easter to All!!!

[DI]

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@Anonymous wrote:

I'm just curious as to when "New CC Accts" are not new anymore, is it once they hit the one year mark?

Thanks in advance for any info.

And Happy Easter to All!!!

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After 6months.  Happy Easter! 

[Anonymous]

My last two accounts I opened were in Dec 2010, so by June this year, It should no longer say on my reports........

Amount of New Credit........."Not Good" (Amount of credit you've recently obtained or applied for.)

And Thank you for the reply DI.

[smallfry]

I have heard 24-27 months in my travels.

[Anonymous]

For me it's between 8-12 months. 6 months doesnt float in my case :-(

[MarineVietVet]

It comes down to the same answer which applies to so many matters concerning credit: YMMV.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

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@MarineVietVet wrote:

It comes down to the same answer which applies to so many matters concerning credit: YMMV.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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 I got to thinking about it last night and I figured the answer would be "YMMV"

Thanks for the replies, I greatly appreciate it.

[Anonymous]

It's all in the eye of the beholder.

Many banks will tell you that an account is new for at least two years.  Some, like PenFed, stretch it to 3 or 4 years.

[RobertEG]

The question is how does the FICO algorithm weight the impact of age of accounts in its scoring.

Since the FICO scoring algorithms are proprietary trade secrets, the only answer to that question is anecdotal experience.

Since so many things in a consumer's credit file vary over time, it is next to impossible to isolate the age of one account and its impact on credit scoring over tme.

The best indicator may simply be the reasons codes, which attempt to define their FICO impacts.  But those are usually far from helpful.