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Does 6 months have an effect?

Established Contributor

Does 6 months have an effect?

I applied for a ton of cards in September of 2012, which I got.  I am now coming up on those cards reaching their 6 month mark.  Will this have a positive effect on FICO?  I know at 1 year it does, but does 6 months matter?

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Message 1 of 4
Moderator Emeritus

Re: Does 6 months have an effect?

IME, if I ever suffered that new credit ding, points would return gradually starting the 2nd month (with the first showing the ding) and the points gradually returned in time. IME, if I ever saw an increase at 6 months, it wasn't because it turned 6 months, but it was because the damage is slowly fading. Usually I'd see points returned most months leading up to a year. If I didn't apply for new credit in that first year or didn't have any new TLs reporting, then I'd usually see a bump at the 12th month as the TL hits a year old, but if I applied for credit before then, then I usually wouldn't see any increase at all.

Message 2 of 4
Established Contributor

Re: Does 6 months have an effect?

recently for me it's been 3 months to get the points back, depending on utilization and number of cards reporting when the newest account hits 3 months. But at no point in the last 12 months did i not have multiple other accounts under 1 year old when my newest hit 3 months, so really i'm just recovering into a less harsh ding. I think if my newest account was my only one under 1 year, it would have a larger affect and it would take longer than 3 months to get the points back.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
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Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Message 3 of 4
Established Contributor

Re: Does 6 months have an effect?

I opened three new accounts  in the last twelve months, two car loans and one credit card. Account one hit one year this month and I got a few points returned.  The last opened account will be one year old in Nov.  I anticipate all points returning by then. At this point I am still down about 25 points.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
Message 4 of 4