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Score Boost from Accounts Aging 1 Month?

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Established Contributor

Score Boost from Accounts Aging 1 Month?

Just wanted to share a little data for everyone!

 

Got an EX alert this morning that my score went up AGAIN! This time it was only 6 points, which puts me at 69 freaking 9. Couldn't just give me that one last point, huh?

 

Anyways, it appears that one of my inquiries fell off my EX report. So I got a 6 point boost from one teeny tiny inquiry falling off.

 

Do you get any kind of point boosts when your new accounts age 1 month?

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
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Super Contributor

Re: Score Boost from Accounts Aging 1 Month?

Some score theorists like Thomas Thumb have conjectured that FICO may give some relief when new accounts turn 3 months, then 6 months, then 12.

 

A separate score factor is the Age of Youngest account, and I think TT has suggested the same breakpoints might exist there.

 

I don't think anyone has suggested that FICO gives any kind of boost for going from 0 months to 1 month.

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Super Contributor

Re: Score Boost from Accounts Aging 1 Month?


@Queen_Etherea

Anyways, it appears that one of my inquiries fell off my EX report. So I got a 6 point boost from one teeny tiny inquiry falling off.

 


You wouldn't receive a 6 point boost from an inquiry falling off.  Falling off suggests it reached 2 years in age.  Is that correct?  Inquiries while present on your CR for 2 years become unscoreable at the 1 year mark, meaning that you'd get any boost associated with that inquiry at that time.  There would be no more points gain wise seen at the 2 year mark, as they would have already been realized a year prior.

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Established Contributor

Re: Score Boost from Accounts Aging 1 Month?


@BrutalBodyShots wrote:

@Queen_Etherea

Anyways, it appears that one of my inquiries fell off my EX report. So I got a 6 point boost from one teeny tiny inquiry falling off.

 


You wouldn't receive a 6 point boost from an inquiry falling off.  Falling off suggests it reached 2 years in age.  Is that correct?  Inquiries while present on your CR for 2 years become unscoreable at the 1 year mark, meaning that you'd get any boost associated with that inquiry at that time.  There would be no more points gain wise seen at the 2 year mark, as they would have already been realized a year prior.


Ohhh... Then literally nothing else changed since Monday when I got the 27 point increase. My score was updated this morning to 6 points and I've scoured my credit report and see no differences between today and Monday. Why does this whole credit thing have to be so confusing?

 

OH!! My Capital One card is now a baby 1 year old! Would that have been the 6 point increase?

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 4 of 9
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Super Contributor

Re: Score Boost from Accounts Aging 1 Month?

Was that your youngest account?

 

If so, yes, your AoYA moving from 11 months to 12 months would most definitely result in a significant score gain.  Usually this is to the tune of 15-20 points, though.

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Re: Score Boost from Accounts Aging 1 Month?


@BrutalBodyShots wrote:

Was that your youngest account?

 

If so, yes, your AoYA moving from 11 months to 12 months would most definitely result in a significant score gain.  Usually this is to the tune of 15-20 points, though.


My last account was opened at the beginning of this month. I believe it was my PenFed accounts. All of credit cards (except Wells Fargo and Cap One) were opened in September/October of this year.

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 6 of 9
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Super Contributor

Re: Score Boost from Accounts Aging 1 Month?

Gotcha.  You would expect to see no score gain at all related to AoYA in it moving from 0 months to 1 month.  Whether or not your AAoA crosses a threshold with the 1 month of aging is a possibility, though.

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Senior Contributor

Re: Score Boost from Accounts Aging 1 Month?

It looks like OP information is lacking on this thread. It would be helpful to know age of oldest credit card and total QTY of credit cards over and under 1 year age. For those under 12 months what is the age of each card?

 

Undoubtedly the OP is taking a score drop for too many cards recently opened. This penalty is in addition to youngest account being less than 12 months old. Sure, each inquiry that reaches 12 months age has the potential to boost score slightly. That likely happened for the IQY associated with the "baby 1 YO card"

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 8 of 9
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Established Contributor

Re: Score Boost from Accounts Aging 1 Month?


@Thomas_Thumb wrote:

It looks like OP information is lacking on this thread. It would be helpful to know age of oldest credit card and total QTY of credit cards over and under 1 year age. For those under 12 months what is the age of each card?

 

Undoubtedly the OP is taking a score drop for too many cards recently opened. This penalty is in addition to youngest account being less than 12 months old. Sure, each inquiry that reaches 12 months age has the potential to boost score slightly. That likely happened for the IQY associated with the "baby 1 YO card"


My oldest card is only 1 year and 8 months old. (Wells Fargo Secured)

Then I got my Capital One exactly 1 year ago. (Oct 2017)

Every other card/new auto loan was opened in Sept and Oct of this year.

 

So that's 1 card over 12 months, one card exactly at 12 months, and all the rest (7) under 12 months.

 

I did have a few inquiries that reached the 1 year mark, and about 3 more that will reach one year in Dec.

 

If you need any other info, just ask! Also, all the info is in my signature. If you hover over the cards with your mouse, you can see the dates the cards were opened and the limits.

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
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