AAoA Data Points on a thin/clean file

[Anonymous]

By the way no matter what day of the month you open an account, it’s considered opened as of the first day of the month in the eyes of the algorithm. So yes it would be 6 months old.

[Anonymous]

What’s your average age of accounts without the authorised user account now that we know it’s not counting?

[ChemE_Bear]

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@Anonymous wrote:
What’s your average age of accounts without the authorised user account now that we know it’s not counting?

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 1 year 10 months, it will go down to ~1y6m when AMEX reports next month or so.

[Anonymous]

Okay here’s my opinion. You’re gonna get points when the AmEx reports because you’re under too few bankcard penalty until you have 3 revolving accounts. And you’re already in a new account scorecard, so there’s not gonna be a new account penalty. And your average age is already so low it’s not gonna cause you to cross any threshold and lose any points there. (Because your authorised user account is not counting on version 8.)

My outlook is it is best to get several accounts when you have a young file so that they act as a counterweight for your average age many years in the future when you get new accounts. I also recommend 5 revolving accounts to make it easiest to get the best scores across all versions.

And plus considering young/thin files are penalised so severely, I believe it’s always in someone’s best interest to attain a thick profile, and all they can do is wait for the maturity, but you’ve already passed that threshold and are considered an aged profile, so you don’t have to worry about that part.

So you have 2 revolvers, my advice is you need 3 more, but not necessarily immediately, but as soon as you can do so comfortably. With that said and to your question and considering your inquiries, I believe you do have room to add a revolver now at a bank that pulls EQ or TU, assuming income, DTI, and all that good stuff are in order... maybe even EX if it is a bank that’s not too inquiry-sensitive.

It will be September or October before American Express reports, so it won’t even appear you have any open revolvers except for the Discover. Yes I do recommend going ahead and getting another revolver now, but if it’s through a bank that pulls TU, you may want to wait till the inquiry ages off and you get those points because they’re worth a few points on a thin card usually.

But then again what are your scores? If they’re already good enough, then it doesn’t matter as much, and your EX score looks good, so I’m assuming the others are as well, especially with less inquiries!

Perhaps we can determine where the thin/thick line is with your profile and assistance while we’re at it?

[Anonymous]

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@ChemE_Bear wrote:

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@Anonymous wrote:
What’s your average age of accounts without the authorised user account now that we know it’s not counting?

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 1 year 10 months, it will go down to ~1y6m when AMEX reports next month or so.

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@ChemE_Bear There you are! Yeah I don't think you're crossing any threshold there, so I don't see any point loss from average age. I don't even know if there is a threshold at one year six months. You'd gonna get more points out of the revolver reporting than you would lose for that by far anyway!

[Anonymous]

@ChemE_Bear As a matter of fact, now that you're in an aged profile, your average age thresholds are probably different and I doubt there are any under 2 years, but I could be wrong.

IMO, seems like they're concentrated between 5 and 7.5 years, but that's probably because that's where I've looked the most, lol, but seriously even from reading threads. I'm sure there are others before that, but we don't know where they're at and we need people looking for them and also for average age of revolving accounts, which is separate and distinct.

That's one of the reasons we don't have a lot of clear information is everyone wasn't aware of all the metrics and still aren't. If we can get a lot of members to start doing their own calculations and start looking for all these metrics and reporting their findings from the first of each month, we can nail down all these thresholds in different scorecards, because we now know where the segmentation points are for new accounts and oldest accounts and are close to determining thin/thick. That's the last unknown clean segmentation threshold for F8! 

Now that we know the majority of the segmentation points and scoring metrics, we can record thresholds by scorecard. Then when you want to know where your thresholds are, we will know where they're at based on your scorecard.

[ChemE_Bear]

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@Anonymous wrote:

Okay here’s my opinion. You’re gonna get points when the AmEx reports because you’re under too few bankcard penalty until you have 3 revolving accounts. And you’re already in a new account scorecard, so there’s not gonna be a new account penalty. And your average age is already so low it’s not gonna cause you to cross any threshold and lose any points there. (Because your authorised user account is not counting on version 8.)

My outlook is it is best to get several accounts when you have a young file so that they act as a counterweight for your average age many years in the future when you get new accounts. I also recommend 5 revolving accounts to make it easiest to get the best scores across all versions.

And plus considering young/thin files are penalised so severely, I believe it’s always in someone’s best interest to attain a thick profile, and all they can do is wait for the maturity, but you’ve already passed that threshold and are considered an aged profile, so you don’t have to worry about that part.

So you have 2 revolvers, my advice is you need 3 more, but not necessarily immediately, but as soon as you can do so comfortably. With that said and to your question and considering your inquiries, I believe you do have room to add a revolver now at a bank that pulls EQ or TU, assuming income, DTI, and all that good stuff are in order... maybe even EX if it is a bank that’s not too inquiry-sensitive.

It will be September or October before American Express reports, so it won’t even appear you have any open revolvers except for the Discover. Yes I do recommend going ahead and getting another revolver now, but if it’s through a bank that pulls TU, you may want to wait till the inquiry ages off and you get those points because they’re worth a few points on a thin card usually.

But then again what are your scores? If they’re already good enough, then it doesn’t matter as much, and your EX score looks good, so I’m assuming the others are as well, especially with less inquiries!

Perhaps we can determine where the thin/thick line is with your profile and assistance while we’re at it?

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Thank you for the thoughtful and detailed response.  I don't have EQ and TU FICO8 scores this month they usually are slightly higher than EX so EQ should be somewhere between 742-760 and TU between 751-775. I will start researching what other cards fit my spending habits and pull TU or EQ.

[Anonymous]

That’s exactly what I would do and pick cards that fit your spend, you’re gonna keep for the long haul because these you’re gonna hold on to for age for the rest of your life! No AFs. And take advantage of diversity in lenders!

[Anonymous]

@ChemE_Bear I think you need to grab 2 when you do it; if it weren’t for the current climate, I’d tell you to get all 3! Then I’d wait 6 months and get the third one and then I’d go lock into the garden.

Either way, if you’d like to, we can also try to test and see where the line is between thin/thick. We believe it exists at either 6 or 7. If you’d like to do that, you need to maximise your scores and stabilise them and hold them constant.

Since you only have one card reporting, that means have that one report a balance < $100. That will give you the best possible score for the time being. Make sure a similar balance is reported in the coming cycles as well. Then, we need your before and after scores and negative reason codes, meaning before and after the account reports. And we want the new accounts to report with a balance, so we stay at 100% of accounts with a balance. So we know point change is not from the percentage of accounts with a balance changing. 😉

[Anonymous]

@ChemE_Bear so what have you done? have you made any decisions or any moves?

Another thing I wanted to tell you is you will see a significant gains as that oldest primary revolver ages on versions 8 and 9.

your oldest revolver gives you points as it hits thresholds and that's one reason your score would be lower than it would be compared to someone else with the same oldest account that was a revolver. 

hope you're doing well.