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How many new accounts to get a flag in fico summary

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Red1Blue
Super Contributor

How many new accounts to get a flag in fico summary

On the 3rd page it shows number of new accounts and a flag next to it if there are too many new accounts. Does any one what is the number of new accounts for that flag to appear and how many new accounts has to turn 1 year old for that flag to go away. I am sure there must be some number of new accounts Fico should consider as acceptable. What is that magic number before the flag shows up?
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haulingthescoreup
Moderator Emerita

Re: How many new accounts to get a flag in fico summary

I had a flag for 7 new accounts. When 5 of them turned a year old in February, leaving two, the flag was gone. I also lost all the whining about seeking credit, etc.

So somewhere between 3 and 7. My guess is that it's 3.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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haulingthescoreup
Moderator Emerita

Re: How many new accounts to get a flag in fico summary

I had a flag for 7 new accounts. When 5 of them turned a year old in February, leaving two, the flag was gone. I also lost all the whining about seeking credit, etc.

So somewhere between 3 and 7. My guess is that it's 3.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Red1Blue
Super Contributor

Re: How many new accounts to get a flag in fico summary

Thanks Hauling. Right now it is showing 11 new accounts. Before November 7 accounts would turn 1 year. November 3 accounts and Jan 2010 One account would turn year old. I guess in my case it would some time between nov - dec of this year for this flag to go away.
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haulingthescoreup
Moderator Emerita

Re: How many new accounts to get a flag in fico summary

Well, in terms of delayed gratification, if it will help you hold out, I got a very satisfying jump on TU --26 points. Less dramatic on EQ, of course, because they love to brood about my lates, but it was 19 points, and it sure is nice to finally break 730 with them. They've always been my most stubborn score.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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