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New credit

New Contributor

New credit page 13


I don't understand this portion of the score at all. It is worth 10% of your score, how do you get the max 10% for this portion of the score?


For everything else besides this and types of credit in use, it's pretty much straight forward on what you need to do.


If you get a new account, let's say it does not give you an inquiry and you currently have 0 inquiries, does getting that new account become all good as far as this portion of your score goes? I know it'll lower your AAoAs, but I'm not worried about that right now.


This 10%, doesn't really make it clear what exactly is good to do for it and what's not.


35% the good is to pay all your bills on time, the bad don't pay them.

30% Have a low amount of debt owed, the bad have a lot of debt.

15% Don't get any more accounts and let time build your credit, bad get lots of accounts.

10% Good would be to have some type of balance of types of accounts, but I am not sure if just credit cards and installment accounts, or credit cards, mortgages, auto loans, business credit, retail credit cards, etc. The bad would be to only have credit cards, or only auto loans.

10% I don't really understand at all except inquiries are bad.

Starting Score: 03/17/2013 665 EQ 01/09/2013 EX 724 TU 739?
Current Score: 03/27/2013 682 EQ 01
Goal Score: 850 all three FICO scores, 900 Vantage score, max insurance scores, etc.

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