Account turned 1 year old

[SouthJamaica]

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@Anonymous wrote:

to piggy back on this.... Do installment loans aging to 1 year give you a score increase or only revolvers?

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No an installment loan aging to 1 year does not give you a score increase.

No a revolving account aging to 1 year does not give you a score increase.

[Anonymous]

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@Red1Blue wrote:

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@Remedios wrote:

You wont experience any gains because an account turned a year old.

If you want to see gains, you need to stop applying, which you said you would 9 cards ago. 

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Hi @Remedios, I have been in the FICO world since 2006 and once built scores from very low up to high 700s. I fell off the wagon in 2015/2016 due to pursuing higher education and family medical issues. I am building up ground up again. There is a reason why I opened different secured accounts since each offered a different feature like no foreign transaction fees, possible graudation. I have no regrets in opening those new accounts. The new account ding is lot less compared to the COs, CAs and 90-120 lates that are holding my scores.  I am cleaning COs and CAs and eventually I should get a boost in my scores. The new account score ding, it is what it is. I am not looking back.

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@Red1Blue There is no "New account ding" in a dirty scorecard. That's AAOA, AAORA, and Utilization changes, as applicable.

Edit: Responded before I saw it had already been answered. But likewise, don't expect points when the youngest revolver hits 12 months either, because of your scorecard.

@AnonymousIt is when your youngest revolver turns 12 months old on a clean profile.

[AzCreditGuy]

This board is confusing at times, so one should NOT expect any gains from a clean profile after 1 year? I have 6 CCs and 1 Loan turning a year after July

[Ficoproblems247]

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@AzCreditGuy wrote:

This board is confusing at times, so one should NOT expect any gains from a clean profile after 1 year? I have 6 CCs and 1 Loan turning a year after July

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The opposite. The new account penalty is for a CLEAN scorecard. You should NOT expect gains on a dirty card, as no points were lost for that specific reason to begin with. With a CLEAN card, you should gain the points for that specific penalty back. 

[Anonymous]

+1. Exactly you only get the gain if you’re on a clean profile when your youngest revolver turns 12 months.

[Anonymous]

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/General-Scoring-Primer-and-Version-8-Mas...

See section D. 1. for more information.

Edit: Also read section A, really all of it.