How important is "no new revolver scorecard"?

[CreditScoreImprovement24]

I read that after NONE of your accounts are under 1 year old (basically say 12 months without opening a new card), you get on the "no new revolver scorecard" on credit report.  

***How big is this when applying for cards?  How much does it increase your chances would you say?

[AndySoCal]

@CreditScoreImprovement24  This will help to some extent. You still have the traditional underwriting concerns like debt to income ratio, credit utilization , payment history etc. that bigger factors than not having append for credit for over two years. Inquiries are indicator of the pursuit of new credit.  A consumer should apply for the crecit a consumer needs and not wants.

[Varsity_Lu]

I don't think you go on a different scorecard per se, I think you just incur a penalty on whatever scorecard you are on if you have an account that's less than 12 months old. If I remember correctly, you slowly get those points back at certain time time points along the way, a few at 3 months, a few more at 6, eventually getting them all back at 12 months. Is my understanding correct?

[Horseshoez]

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@Varsity_Lu wrote:

I don't think you go on a different scorecard per se, I think you just incur a penalty on whatever scorecard you are on if you have an account that's less than 12 months old. If I remember correctly, you slowly get those points back at certain time time points along the way, a few at 3 months, a few more at 6, eventually getting them all back at 12 months. Is my understanding correct?

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That is my understanding as well; I've never heard of a "no new revolver score card".

[Patient957]

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@Horseshoez wrote:

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@Varsity_Lu wrote:

I don't think you go on a different scorecard per se, I think you just incur a penalty on whatever scorecard you are on if you have an account that's less than 12 months old. If I remember correctly, you slowly get those points back at certain time time points along the way, a few at 3 months, a few more at 6, eventually getting them all back at 12 months. Is my understanding correct?

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That is my understanding as well; I've never heard of a "no new revolver score card".

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In Fico 8, there is believed to be a no new revolver scorecard.  It segments at AoYRA = 12 months. It's worth about +/- 20 points. 

@SouthJamaica did excellent work on this recently and re-confirmed what others had previously confirmed.  You can look at his data and conclusions in these posts:

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Does-AOYA-include-installment-loans/td-p...

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Dropping-off-AoYRA-gt-12-month-scorecard...

So, @CreditScoreImprovement24 , you can decide if you think 20 points is a big deal or not or whether you think it would help you in applications for new cards.  It certainly would not hurt, I can assure you.

Important caveat: This is only for clean scorecards.  Dirty scorecards are segmented differently.

Edit to add:

In fact, in March, my youngest revolver turned 12 months old, and I got 22 points for it.  I will be applying for a credit card next month, and I fully expect to lose those points again.

[SouthJamaica]

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@CreditScoreImprovement24 wrote:

I read that after NONE of your accounts are under 1 year old (basically say 12 months without opening a new card), you get on the "no new revolver scorecard" on credit report.  

***How big is this when applying for cards?  How much does it increase your chances would you say?

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It adds a significant number of points to your FICO 8's and 9's. I think the last time I got elevated to that scorecard I picked up 26 points in EX FICO 8. When I got demoted from that scorecard, I dropped 16 points in EX FICO 8.

[SouthJamaica]

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@Varsity_Lu wrote:

I don't think you go on a different scorecard per se, I think you just incur a penalty on whatever scorecard you are on if you have an account that's less than 12 months old. If I remember correctly, you slowly get those points back at certain time time points along the way, a few at 3 months, a few more at 6, eventually getting them all back at 12 months. Is my understanding correct?

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No I don't agree with that. My understanding is that it's a scorecard segmentation factor.

My testing showed that for the older, mortgage scores, it was an age of youngest account scorecard, so that even a new installment account could knock you out, while with the later scores, especially focusing on FICO 8's, it was an age of youngest revolving account scorecard.

[FICOdawg]

So 24 months with no pulls is another point gain?   Any idea how much.

i want to get third card to score optimize so may pull trigger so clock starts.

With boat loan i want to get best rates are with 760+.

[Varsity_Lu]

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@FICOdawg wrote:

So 24 months with no pulls is another point gain?   Any idea how much.

i want to get third card to score optimize so may pull trigger so clock starts.

With boat loan i want to get best rates are with 760+.

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It's my understanding that FICO only looks back 12 months for new accounts and hard inquiries, but VantageScore penalizes back to 24 months.

[Patient957]

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@FICOdawg wrote:

So 24 months with no pulls is another point gain?   Any idea how much.

i want to get third card to score optimize so may pull trigger so clock starts.

With boat loan i want to get best rates are with 760+.

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@Varsity_Lu is correct.  Inquiries remain scorable on VS for 24 months but only 12 months on Fico.   So if you're going to get any Fico points for an inquiry aging, they will come at exactly 12 months to the day of the inquiry.  Inquiries are bucketed on Fico, so you may not always get points when an iquiry reaches 12 months.  Hope that makes sense.

But note that this thread is about new accounts, not inquiries.  The two should not be confused as they have separate effects on score.