CREDIT SCORES

[Anonymous]

If your good credit usage stays the same every month for say 6 months, does our score go up just do to time as in a longer history by virtue of having good credit or does it stay stagnant until you do something noteworthy like have a balance  of a sunnden one month or get a new credit card for example?

[Brian_Earl_Spilner]

If you cross a timing threshold, yes. If not, no.

[Anonymous]

What is the timing threshhold?

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@Brian_Earl_Spilner wrote:

If you cross a timing threshold, yes. If not, no.

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[Anonymous]

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@Anonymous wrote:

What is the timing threshhold?

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@Brian_Earl_Spilner wrote:

If you cross a timing threshold, yes. If not, no.

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To answer your question, if everything in your profile stayed exactly the same every month, you would eventually get score gains due to aging of the accounts but not necessarily in 6 months.  It depends on how old the account is, your average age of accounts, inquiries aging to 1 year, etc.

[Anonymous]

If by "usage" you mean "utilization" OP, the answer to your question is no.  If your utilization is "good" at (say) 15% and you maintain that 15% utilization for 6 months, your score won't be any better after 6 months than when you started if you're considering just utilization.  Utilization is a single point in time metric that does not take history into account at all.  As the others have stated, age of accounts factors can increase over time and improve your score... but that has nothing to do with maintaining good utilization.

[BallBounces]

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@Brian_Earl_Spilner wrote:

If you cross a timing threshold, yes. If not, no.

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In addition, if past delinquencies age or age off, you may also see an increase.

It was unclear (to me at least) from the OP if they have a "clean profile" or if they have "six recent months of clean payment history".  That matters significantly.

[FireMedic1]

I agree with the others. The few things that may help could be passing 1 or 2yrs AAoA's, AoOA, Last new account passes a year old. Inq's age. Theres so muchm more. But like the others said.  Not mch would

happen.

[Anonymous]

Plus one to the above.

[Anonymous]

I was approved for 3 AMX credit cards over past 7 days, my scores prior to apllying to any new credit was:

FICO 741

TU 733

EQ 725

Now after 2 inquiries they are:

FICO 733  ( 8 point drop)

TU 725     ( 8 point drop)

EQ 722    (3 point drop)

I think I got hit hard, it might have been because I have a thin file, but how does slamdunking an applicant on inquires make banksters more confident in approving credit card applicants? It seems more of a punishment for requesting credit.

I have two other credit cards on my credit file with perfect payment record.

[Anonymous]

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@Anonymous wrote:

I was approved for 3 AMX credit cards over past 7 days, my scores prior to apllying to any new credit was:

FICO 741

TU 733

EQ 725

Now after 2 inquiries they are:

FICO 733  ( 8 point drop)

TU 725     ( 8 point drop)

EQ 722    (3 point drop)

I think I got hit hard, it might have been because I have a thin file, but how does slamdunking an applicant on inquires make banksters more confident in approving credit card applicants? It seems more of a punishment for requesting credit.

I have two other credit cards on my credit file with perfect payment record.

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Thanks for posting the info. I think this is further supporting evidence that it's the 'thin file' part that is causing these higher than usual point deductions for an inquiry.

8 months ago, I had no credit cards on my file and the inquiries for my first 2 cards ever cost 20/18/19 points on EQ/TU/EX, respectively. (Citi double-pulled EQ/EX, my credit union pulled TU.)

I thought it was due to the short age of my credit history (1 year total with an SSL/credit builder loan), but other people have posted here with -17pts for an inquiry with around 4 years of credit file age. Their file was thin, though.