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New credit

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BundiFan
Regular Contributor
‎03-12-2011 05:15 AM
‎03-12-2011 05:15 AM

New credit

How old does a account have to be before its not considered a new line of credit?

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Anonymous
Not applicable
‎03-12-2011 10:59 AM
‎03-12-2011 10:59 AM

Re: New credit

 

@SBUNDICK wrote:

How old does a account have to be before its not considered a new line of credit?

It varies from one creditor/lender to another. 

 

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BundiFan
Regular Contributor
‎03-12-2011 12:23 PM
‎03-12-2011 12:23 PM

Re: New credit

how about for fico scores

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Anonymous
Not applicable
‎03-12-2011 12:45 PM
‎03-12-2011 12:45 PM

Re: New credit

 

@SBUNDICK wrote:

how about for fico scores

 

Once again it can vary, 

 

IMO I believe it is 2-3 years, but I have seen others post the negative reasons on FICO reports to list as accounts being new and youngest account was 5 years old. Every credit profile is different and FICO scoring takes into account many factors.

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