Hello all,
wanted to share a couple results on the new revolver penalty I received on my account.
i recently had an account cross over the year mark, which gave me 10 points on my scores.
then right after that, I added a new account, and 2/3 scores dropped. The drops were 18/21 points.
so I assume the algorithm took back the 10 points for "new revolver penalty" and then a few additional points for lowering my average age of accounts.
@Cblough93 wrote:Hello all,
wanted to share a couple results on the new revolver penalty I received on my account.
i recently had an account cross over the year mark, which gave me 10 points on my scores.
then right after that, I added a new account, and 2/3 scores dropped. The drops were 18/21 points.
so I assume the algorithm took back the 10 points for "new revolver penalty" and then a few additional points for lowering my average age of accounts.
When you say "i recently had an account cross over the year mark, which gave me 10 points on my scores", was this your most recent new account?
If so, the point gain was for moving to a scorecard on which AoYA is > 12 months.
If not, you did not receive a point gain for the account going over 12 months. It was for something else.
That account that crossed over the 12 month mark was my credit one card which gave me 10 points.i got it in 9/2023 so at the beginning of September it hit 1 year and I got points
Then the new accounts that just hit my account a couple days ago reset my new revolver status and put me back into acct In the past year score card
The scores definitely stabilize.
I'll give you an example.
Equifax is missing my oldest account and as a result it's way younger profile that the other 2. When the hard inquiry hit my equifax profile. It took 20 points, while TU and experian took 10, and 9.
Then when the new account itself hit my report, equifax lost 21 points, the most points out of all 3. so the bureaus with more age have more score stability
and yes I am very interested in all things score related, I just so happen to be In a phase in my credit built right now where I'm adding accounts and so I figured I would share all the data points. These sort of things always seem to bring up some questions like why bureaus with the exact same profile had scores that went in 2 directions when a new account hit. 1 gained 21 points and 1 lost 18, why is this? Maybe someone on here can figure it out, and that's why I post these sort of things.
In this case my post is very relevant to my own profile, but a good amount of what I post does not apply to me, they are just random questions I think of while on the forum. And I figured maybe asking these questions can help someone else, so I let my curiosity win. Hopefully I'm not too annoying?
@Cblough93 wrote:
That account that crossed over the 12 month mark was my credit one card which gave me 10 points.i got it in 9/2023 so at the beginning of September it hit 1 year and I got points
Then the new accounts that just hit my account a couple days ago reset my new revolver status and put me back into acct In the past year score card
You haven't answered my question.
I repeat:
When you say "i recently had an account cross over the year mark, which gave me 10 points on my scores", was this your most recent new account?
Sorry I thought I answered it.
the account I was referring to when I said that sentence was my credit one card, which is my oldest card to this point. Not my newest. It crossed over the year mark on 9/1. On that day I got a 10 point bump. The account crossing over the 1 year mark/my profile no longer being a new revolver profile is the only thing it could have been in my eyes, since my scores happened to reset at the end of august and then 9/1, so it was almost back to back days.
If you were referring to the card that brought me back into new revolver status, then yes that was my my most recent card reported on 9/22, I went back into "new account within the last year status" and I lost the points. Along with some additional point loss for average age taking a hit.
@Cblough93 wrote:Sorry I thought I answered it.
the account I was referring to when I said that sentence was my credit one card, which is my oldest card to this point. Not my newest. It crossed over the year mark on 9/1. On that day I got a 10 point bump. The account crossing over the 1 year mark/my profile no longer being a new revolver profile is the only thing it could have been in my eyes, since my scores happened to reset at the end of august and then 9/1, so it was almost back to back days.
If you were referring to the card that brought me back into new revolver status, then yes that was my my most recent card reported on 9/22, I went back into "new account within the last year status" and I lost the points. Along with some additional point loss for average age taking a hit.
You still haven't answered my question. So I give up.
For the benefit of other people reading this thread some day:
A single account going over the 12 month mark does not increase one's scores. It has no effect in and of itself.
If one's newest account goes over the 12 month mark, then that does increase one's scores, because it moves one to a new scorecard. If a new account is then added to one's profile, the points from the scorecard change will then be lost.
at the time, when it went over 12 month mark. It was my only, and therefore my newest account.
Since then I have gotten 2 more cards making it my oldest card at this point in time
