cancel
Showing results for 
Search instead for 
Did you mean: 

Point Gain from account reaching 1 year?

Highlighted
Valued Contributor

Point Gain from account reaching 1 year?

Not talking about AoYA. Have a revolving acct that will reach 1 year next month. AoYA is 10 months. Will I see a score jump just for the 1 year anniversary or just the inquiry's one year anniversary?

Curious what anyone has seen and if the benchmarks affect anything other than AoYA
Bourbon and bow ties.
Current Cards:



2020 Goals:
$100K total CL (through organic/soft pull growth; COMPLETE!)
750+ across bureaus
No real goal cards for now
Garden Forever.
6 REPLIES 6
Highlighted
Super Contributor

Re: Point Gain from account reaching 1 year?

You will get the inquiry points back at 365 days. No, you should not have any point change by a revolver turning one year old if you have a younger account.

When your youngest account becomes a year old it is believed by many that you rebucket and therefore there’s a point change.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.

RIP:







Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 2 of 7
Highlighted
Valued Contributor

Re: Point Gain from account reaching 1 year?

This is more significant when it's your only account.  When you get beyond a couple of accounts it's negligible.  The changes to underlying factors mask the impact of the slight aging of the accounts.  65% of your scores are payment / debt related... age is 15% / new credit 10%... so as the age/inq get older they have less of an impact.

 

In the past couple of years I've added so many accounts I don't even notice the impact of things aging at this point.  My scores swing up and down 2-10 points every month.  Even with 5 new accounts in the past couple of months.  The more accounts you have the less you notice these things happening in the background.

500K+ TCL / 800+ FCOs
Message 3 of 7
Highlighted
Super Contributor

Re: Point Gain from account reaching 1 year?

I tend to agree with Birdman that a single revolver reaching 1 year in age probably would result in no scoring change.  There is however a negative reason statement that pertains to AoOA and AAoA of revolvers, not just accounts.  I see this as my number 2 negative reason statement on my TU Fico 8 score behind number of accounts with balances.  My guess is that you'd have to look past the single revolver to all revolvers in trying to determine the cause of this negative reason statement to be generated (or removed).

Message 4 of 7
Valued Contributor

Re: Point Gain from account reaching 1 year?


@Birdman7 wrote:
You will get the inquiry points back at 365 days. No, you should not have any point change by a revolver turning one year old if you have a younger account.

When your youngest account becomes a year old it is believed by many that you rebucket and therefore there’s a point change.

Thanks. I figured it'd be specifically the inquiry points, but wondered if I would get anything else good out of it. Trying to beg, borrow and steal points on my way to 740+ for student loan refi by September to get considerably better rates than I currently have (when my AoYA actually gets to 1 year). 

Bourbon and bow ties.
Current Cards:



2020 Goals:
$100K total CL (through organic/soft pull growth; COMPLETE!)
750+ across bureaus
No real goal cards for now
Garden Forever.
Message 5 of 7
Highlighted
Super Contributor

Re: Point Gain from account reaching 1 year?

OP do you have any open loans? If not investigate the SSLT (share secured loan technique). Possibly bump your scores up quickly.

And yes, if it was your only account, of course it would be more significant, because then it would be equal to AoYA turning a year and you would rebucket. And if you keep accounts younger than a year, of course you’re never going to realize your points from re-bucketing, you’re staying on a new account scorecard! And yes the more cards you have, the more it buffers changes.

I have to take issue with that about aging though. It has a greater effect than one would think by those percentages quoted. Age relates to scorecard assignment and scorecard assignment directly dictates the scores that you may obtain. Therefore age has effect other than those percentages; it helps dictate the scorecard that will prescribe your score range.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.

RIP:







Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 6 of 7
Highlighted
Moderator

Re: Point Gain from account reaching 1 year?

I've never gained any points for an account reaching one year, unless it was the youngest. 

 

Last October I had more than 7 accounts reaching a year. No scoring changes on the 1st of the month. A few points here and there later in the month as those inq became unscorable. 

The youngest reached a year in November and there was a nice chuck of points there. 

I told my teens yesterday I'm done repeating myself. Darwin, take the wheel, please.
Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.