How long before "You have few accounts that are in good standing." goes away?

[Anonymous]

How long after you open an account does it take until an account is considered an account in good standing?  I've opened a lot of new accounts lately, and some of them have already posted two or three statements.  All of them have obviously been paid on time.  However, my credit report is showing "You have few accounts that are in good standing." and only showing two accounts as "Currently Being Paid as Agreed".  Is there a certain amount of time or a certain amount of payments that need to be made for an account to be considered "In Good Standing?" 

[cdtotten]

You are saying the card is not reporting yet? Reporting in "good standing" just means it is reporting with no delinquency (not a time period thing).

Once the card reports to the bureaus, it will be in good standing at that point and visible for scoring. Not all creditors report to all 3 credit bureaus and some take 2-3 months to get your account listed.

[Anonymous]

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@cdtotten wrote:

You are saying the card is not reporting yet? Reporting in "good standing" just means it is reporting with no delinquency (not a time period thing).

Once the card reports to the bureaus, it will be in good standing at that point and visible for scoring. Not all creditors report to all 3 credit bureaus and some take 2-3 months to get your account listed.

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I just pulled a three bureau credit report yesterday.  All of the accounts in my signature have reported at least once (which the credit report shows), except for my United MileagePlus Club card.  However my credit report also shows this: http://i.imgur.com/VAoN4M9.png

All of my open accounts are being paid 100% on time.  Only two of those accounts are more than four months old though, which is what I assume are the two showing as being "paid as agreed" in that image.

[jamie123]

Wait...

I just counted the number of your card's listed in your sig. You have 12 credit cards. Are you saying that you have 10 credit cards that are less than 4 months old?

[Anonymous]

Yes.

[jamie123]

You need to stop apping now and let time do its work. Right now, with so many new accounts, FICO's recommendations don't mean much. What they are trying to tell you is that all these new accounts need to age a bit.

I would suggest that you not app for at least 6 months and more like a year if possible. I'm sure that your scores took quite a hit with all those new accounts reporting and need a year to recover.

[Anonymous]

Yea, I have no intention of applying for anything else right now. I applied for the Palladium card on Friday, which I should be approved for (and might be already) based on just my holdings with Chase.  I'm also not particularly worried about any AA from Chase or Amex because I have significant holdings with both of them.  My utilization will never be above 2% so there's no reason for any lender to get worried, and my annual income is multiple times the total credit limit of all of my cards.  I most likely won't be opening any new accounts for 3+ years if I'm approved for the Palladium.

[jamie123]

To answer your original question...

FICO doesn't consider an account fully seasoned until it is 2 years old.

Lenders don't like to see you have any accounts that are less than 6 months old and will deny new credit because of it.

[NRB525]

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@jamie123 wrote:

To answer your original question...

FICO doesn't consider an account fully seasoned until it is 2 years old.

Lenders don't like to see you have any accounts that are less than 6 months old and will deny new credit because of it.

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This really depends on the CCC. In OP's case it is a bit surprising to see so many new accounts, but given the likely path to Palladium, that kind of puts the file on a plane above the rest of us in the cheap seats

[Anonymous]

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@NRB525 wrote:

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@jamie123 wrote:

To answer your original question...

FICO doesn't consider an account fully seasoned until it is 2 years old.

Lenders don't like to see you have any accounts that are less than 6 months old and will deny new credit because of it.

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This really depends on the CCC. In OP's case it is a bit surprising to see so many new accounts, but given the likely path to Palladium, that kind of puts the file on a plane above the rest of us in the cheap seats

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I probably have a record for the lowest credit score that obtained a Chase Sapphire Preferred.  My Experian FICO was a 586 in 10/13 when I applied.  My banker alerted me of this, as at the time I wasn't really following my credit.  Fortunately there were some errors on the account that I was able to get corrected, which significantly increased my score.  Still fighting a BS chargeoff though that will be on there for another 3 years if I can't get it removed.