How To Increase My Credit Score

[Anonymous]

Just a quick clarification. What we have come to call the 'new account penalty', is actually scorecard reassignment from a no new account scorecard to a new account scorecard. Along with these changes also come changes to average ages which can potentially cause score change if thresholds are crossed, and you also have the potential hard inquiries.

If you are in a dirty Scorecard, there is no 'new account penalty' as there is no possible reassignment to a new account scorecard for dirty cards. 

technically you still may be penalized if average ages cross thresholds or if the hard inquiry takes points, but we have come to term the scorecard reassignment point change the 'new account penalty.'

[Anonymous]

Do we know if on a dirty scorecard AoYA is a scoring factor at all since it isn't a scorecard assignment factor?

[Anonymous]

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@Anonymous wrote:

Do we know if on a dirty scorecard AoYA is a scoring factor at all since it isn't a scorecard assignment factor?

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Yes I'm sure it is. I believe we have had plenty of people report those gains and AOYA derives from the age category, not the new credit category like AOYRA. 

while age counts less in a dirty profile, it still counts.

[Anonymous]

Is there a negative reason code that specifically points to AoYA, or is it one of those ambiguous ones that says your ______ or ______ may be too low or something similar?

[Anonymous]

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@Anonymous wrote:

Is there a negative reason code that specifically points to AoYA, or is it one of those ambiguous ones that says your ______ or ______ may be too low or something similar?

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@Anonymous good question and I'm not entirely certain. We were actually pondering that question not too long ago in a thread. It could fall under short credit history because it's not a new credit category Metric, so it would not be a new credit code, I don't believe.

but I could be wrong. it could also trigger the new account code on the mortgage Scores, since we don't know yet whether they segment only on revolvers or on all accounts. 

that's one of those things we still need to nail down. 

another thought maybe it does throw the new account reason code. We don't have a code specifically for the segmentation factor of thick/thin. We have too few or too many accounts/bankcards, but that is a Scoring Factor. 

so maybe age of youngest revolving account is simply used for segmentation and AOYA is throwing the new account code? But that can't be right because there are gains for AoYA in a dirty card... unless the code were suppressed because it's a dirty card and worth less, but points are still awarded. 

but we do have one for oldest account which is a Segmentation Factor. But that's mixed with the average.

I really don't know, I'm just spitballing, we've got to figure it out.