@Jazee wrote:Is there another credit score bump at 12 months on new revolving accounts (although 12 months is probably not really 'new'), like at 6 months, or is it just a fairly linear increase after 6 months based on increased on-time payment history and effect on average age of accounts?
New accounts do not give you a bump, at 6 months, or 12 months, or anywhere.
@Remedios wrote:
@SouthJamaica wrote:
@Jazee wrote:Is there another credit score bump at 12 months on new revolving accounts (although 12 months is probably not really 'new'), like at 6 months, or is it just a fairly linear increase after 6 months based on increased on-time payment history and effect on average age of accounts?
New accounts do not give you a bump, at 6 months, or 12 months, or anywhere.
That's absolutely wrong.
There is a "bump" on younger profiles when youngest revolving account reaches 3 months and 6 months. This "bump" goes away as profile matures. This bump only happens with youngest one.
If one account is two months old and another one reaches three months, there won't be a bump, it has to be youngest revolver.
There is absolutely a big bump when youngest reaches 12 months (at least on 8 classic).
And no, we aren't going to agree to disagree on this. Your profile is too aged to experience 3 and 6 months bumps, and I'm certain when your oldest account was under two to three years old you didn't have credit monitoring to observe these changes.
However, if you feel like spending hours digging for threads dealing with young profiles, you'll find dozens of examples..
Yes of course when age of youngest account reaches a threshold there is a bump.
But that was not the question.
The qustions were "Is there a bump at 12 months or just 6 months on new accounts?" and "Is there another credit score bump at 12 months on new revolving accounts (although 12 months is probably not really 'new'), like at 6 months, or is it just a fairly linear increase after 6 months based on increased on-time payment history and effect on average age of accounts?"
There was nothing in the question to suggest OP was asking about AoYA, which gets reset every time one adds another new account.
@SouthJamaica obviously you're not always right, you didn't create the algorithm for credit scoring, your profile appears to be thick and very well aged, so humble yourself in your post/advice to others. You have to take into account that not all credit profile are the same and the algorithm will react differently based on that fact alone. The questions asked are in general, not one size fits all.
My score, like everyone else's, receives score bumps when AoYA (age of youngest account) passes various known milestones such as 3 months, 6 months, and especially 12 months.
The question asked by OP was not whether AoYA changes have score bumps but whether new accounts have score bumps when they reach a certain age, to which the answer is no.
@SouthJamaica wrote:My score, like everyone else's, receives score bumps when AoYA (age of youngest account) passes various known milestones such as 3 months, 6 months, and especially 12 months.
The question asked by OP was not whether AoYA changes have score bumps but whether new accounts have score bumps when they reach a certain age, to which the answer is no.
In my job, I have experience in a wider set of issues, and an understanding of what really drives certain non-obvious issues, compared to most of my colleagues, who have different roles than I. So when I get a question from a colleague that I can see is raising a legitimate concern ( and all questions from colleagues raise legitimate concerns ) but I have insight that the question they are asking isn't really the correct way to phrase the question, I help them out by suggesting "let's look at this over here instead, to solve the issue".
So from the OP's original question, would it make more sense to answer it as the quoted text above? Rather than your original phrasing?
