TU up +11pts from 712 to 723 at Age of Youngest Account (AoYA) equal to 6 months.
[EDIT: Adding the Experian CreditWorks changes. Every single score went up there. No statement balances have been recorded yet from either of my 2 credit cards.]
05/10/19 | Δ | 06/01/19 | |
EX FICO 8 | 719 | +6 | 725 |
EX FICO AUTO 8 | 705 | +7 | 712 |
EX FICO Bankcard 8 | 723 | +6 | 729 |
EX FICO 2 | 721 | +12 | 733 |
EX FICO 3 | 718 | +4 | 722 |
EX FICO Auto 2 | 698 | +11 | 709 |
EX FICO Bankcard 2 | 726 | +13 | 739 |
EQ FICO 8 | 705 | +7 | 712 |
TU FICO 8 | 712 | +11 | 723 |
EQ VS3 | 735 | +1 | 736 |
TU VS3 | 731 | +1 | 732 |
EX VS3 | 735 | +1 | 736 |
Note: VS3 will hit AoYA/AAoA 6 months next month, since I opened my cards in late December and VS3 seems to count them closer to the exact opening date. I already observed a +44pt gain on VS3 at the AoYA/AAoA 3 month mark (FICO AoYA 4mos).
The only changes to my profile that will happen this month are aging of 1 month and 9% to 4% aggregate utilization. (9% to 4% individual util on each card.)
Clean profile with no credit history prior to Dec 2017 (1yr 6mos ago).
These points may not be realized by people with long credit histories.
My credit cards are only 6 months old at this point. I had an SSL open for 1 year prior to applying for these cards.
The reason code text 'Length of time revolving accounts have been established' moved down 1 in the list.
The AoYA 3 month jump is documented here: AoYA 3 month jump +8 to +25pts on 24 out of 28 FICO scores.
[EDIT: Adding myFICO simulator predicted score change at AoYA 6 months. I won't know the final result until June 10.]
This simulates a 9% to 4% aggregate change: $749 to $330 balance. I actually paid the $749 in full before I started on the ramp up to $330/4%.
Search hints: New credit age of youngest account 6 six month mo AoYA score increase
Nice Cassie!
I'm crossing 3 months AOYA next month and I suspect I'm going to get points unless there's a funky pattern going on: I sadly don't have the TU reason code monitoring (nor would it help since I'm in the derog scorecards there where new accounts don't rate) and EX just is complaining about the singleton AAOA in their lame CMS implementation for FICO 8 classic, though not any worse than here I suppose either.
Did have other recent accounts tick over the six month mark without score movement, and actually got another account that I'd opened earlier but reported later than the Citi and score didn't move either which doesn't suggest the pattern outcome.
Oh jeez, I think your datapoint just shed light on it concretely with the reason codes, and also some other things that CGID brought up too.
What if AOYA is only being measured as a revolving account in FICO 8?
That would explain why I was still at 827 in January even after the installment loans were obtained (auto and personal both 11/18 and 12/18 respectively) and yet once I had the Citi card report at one month old I got whacked 20+ points?
My prior revolver opening was all the way back in 1/17... I need to look at my Experian data, god I wish I had better FICO 8 reason codes but I don't think I saw much drop when the installment loans reported but the major drop was when Citi did at 1 month old.
@Anonymous wrote:
We have to keep in mind Cassie is on new credit scoresheet. Which begs the question, what role will this play on a no new credit scoresheet, if any?
By this I assume you mean new file credit?
I think it might apply to any honestly, just older files don't get reason codes from most CMS's because they restrict it and sadly FICO 8 reason codes suck for the most part. I don't see this reason code in the derogatory scorecards at all but looking at a couple of reports from when I was clean for a while:
At the 1 year mark that reason code was still on all FICO 8 Industry options and apparently TU FICO 9 but maybe not the others.
I seem to have lost some of my credit reports that I didn't save when my subscription was done, and of course myFICO deleted them (lame) so I don't have great data around this, but I think TT's had them for a while on a very well aged file.
Also and this is interesting too, there's two reason codes in the older algorithms:
EQ 5 / TU 4: at 1 year
- You opened a new credit account relatively recently.
- You have not established a long revolving and/or open- ended account credit history.
EX 2 was simply:
- You've recently opened too many new credit accounts.