When I took myself off AU accounts my score was never able to get back to above 800 I am anywhere between 20 and 30 pts away from a 800 score and this was before I did BT on 2 cards. Being where I am now I am happy and now its about aging now.
My last credit spree was 5 yrs and 4 mths ago and I prob waited too long to get new cards as I feel maybe it would have been better to get them 3 yrs ago, but here I am.
I need some advice if I do get 2 to 4 new cards in the 2025, what will happen to my scores and aging that is current now? I have 7 cards and a robust overall CL Uti.
Age of oldest account (AoOA) will remain the same at roughly 10 years by January.
Age of youngest account (AoYA) will become 0 years as soon as you add your next card; and will keep resetting to zero with each new card.
Average age of accounts (AAoA) will depend upon the number of new cards added. According to your current stats, your AAoA is roughly 6 years across a total of 8 accounts (both open and closed). This gives you 48 years of total account history (6 multiplied by 8). To calculate your new average age, you'll need to add the number of new cards to 8 (your current total of account), then divide 48 by that new number. Let's say you add 2 new cards. Your new total of accounts goes from 8 to 10. Then, take 48 total years of account history and divide by your new total number of accounts of 10 and you get 4.8 years as your new average age.
Besides the age calculation updates, your FICO score is likely to be impacted by the number of new inquiries. More importantly, you will move to a different scorecard (assuming you are currently on one of the "clean" scorecards) with the age of youngest revolving account dropping below 1 year. The scorecard change is likely to drop your score by more points than the other age changes. The way you handle the new accounts may also impact FICO scores if there are significant changes to your utilization numbers. Getting a new card with a $1000 limit and then reporting a $900 balance on that account would be a sure way to drop your scores.
@AzCreditGuy wrote:When I took myself off AU accounts my score was never able to get back to above 800 I am anywhere between 20 and 30 pts away from a 800 score and this was before I did BT on 2 cards. Being where I am now I am happy and now its about aging now.
My last credit spree was 5 yrs and 4 mths ago and I prob waited too long to get new cards as I feel maybe it would have been better to get them 3 yrs ago, but here I am.
I need some advice if I do get 2 to 4 new cards in the 2025, what will happen to my scores and aging that is current now? I have 7 cards and a robust overall CL Uti.
Everyone's profile reacts differently. Yours may react more severely than mine, because your file is thinner and younger. But here's how my FICO 8's reacted recently to (a) inquiries and (b) a new revolving account which dropped me off the scorecard for AoYRA > 12 months:
Inquiries:
My EX FICO 8 reacted as follows:
From zero to 1.... -3
From 1 to 2... -3
From 2 to 3... -7
New revolver knocking me off scorecard for AoYRA > 12 months:
EX FICO 8 - 16
EQ FICO 8 - 8
I doubt that the changes in AAoA and AoOA will have any effect.
So if you were to add 2 accounts, and add 2 EX inquiries, if your profile behaves similarly to mine, you would probably lose around 20 points.
BTW you could improve your scores significantly by getting the US Bank balance down from 45% to 28%.
@SouthJamaica wrote:
@AzCreditGuy wrote:When I took myself off AU accounts my score was never able to get back to above 800 I am anywhere between 20 and 30 pts away from a 800 score and this was before I did BT on 2 cards. Being where I am now I am happy and now its about aging now.
My last credit spree was 5 yrs and 4 mths ago and I prob waited too long to get new cards as I feel maybe it would have been better to get them 3 yrs ago, but here I am.
I need some advice if I do get 2 to 4 new cards in the 2025, what will happen to my scores and aging that is current now? I have 7 cards and a robust overall CL Uti.
Everyone's profile reacts differently. Yours may react more severely than mine, because your file is thinner and younger. But here's how my FICO 8's reacted recently to (a) inquiries and (b) a new revolving account which dropped me off the scorecard for AoYRA > 12 months:
Inquiries:
My EX FICO 8 reacted as follows:
From zero to 1.... -3
From 1 to 2... -3
From 2 to 3... -7
New revolver knocking me off scorecard for AoYRA > 12 months:
EX FICO 8 - 16
EQ FICO 8 - 8
I doubt that the changes in AAoA and AoOA will have any effect.
So if you were to add 2 accounts, and add 2 EX inquiries, if your profile behaves similarly to mine, you would probably lose around 20 points.
BTW you could improve your scores significantly by getting the US Bank balance down from 45% to 28%.
Yes I am aware of the UTI is hurting me, hence why I am thinking of getting some more cards to offset this for now. Maybe even a business cc's to remove these from my personal side
So another update on EQ gained 4 pts when an account blance of $237 was paid off. EQ still hasnt updated the new Citi card or aaoYA, Experian did and changed me from 7yrs 4mth to 6yrs 4mths....
So I had an interesting change happen today, I had my apple card show up on all 3 accounts and my aaoYA went from 6yrs 4mths to 4yrs 11mths? My score also went up with Ex/Eq TU stayed the same. I still need to apply for BMO and Chase Buss/Personal CCs...Total of 4 more inqs and cards
