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Score usually go up at the beginning of the month?

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Anonymous
Not applicable

Re: Score usually go up at the beginning of the month?


@NRB525 wrote:

@Anonymous wrote:

@Anonymous wrote:

 

Experian considers all your cards to have been opened on the 1st of the month in the month they were opened -- have a look at account opened date, you will see on EX that it's always the 1st, regardless of what the actual day was. This is true on EQ as well but I think TU actually uses the real opening day. 

 

So......

 

Take a look at two things: What happened to the age of your OLDEST account on that one day? And what happened to your AAoA on that one day?

 

Both those numbers at EQ change only on the 1st of a month. I would bet you find your answer as to why your score went up--something hit a nice round number? 


Good to know about inquiries affecting up to a year.

 

Oldest Account
13.2 year(s)
Date Opened
06/01/2002 (Closed on 4/15/15, but Experian treats this as 4/1/15?)
 
Nex Oldest Account
Date Opened
07/01/2003 (Open)
 
Average Account Age
4.1 year(s)
 
So doesn't seem to be there. It must be something that happened in August or September? I'll look around.

Well, oldest cards are nice to know, but you have recent INQ. That implies recently opened CC as well.

What are the opening dates for each of the newer cards, those under 2 years?


My inquiry dae
 
CAP ONE NA
Date Filed
06/08/2015

AMEX
Date Filed
05/15/2015
 
CHASE CARD
Date Filed
05/14/2015

BK OF AMER
Date Filed
05/14/2015
 
CBNA
Date Filed
04/15/2015
Message 11 of 14
Revelate
Moderator Emeritus

Re: Score usually go up at the beginning of the month?


@Anonymous wrote:

Regarding the effect of inq, my score bumps up every 6 months by different amounts. I guess 6 month and 1 yr just have diferent weighting on their effects but inqs usually affect the score until they are aged out for 2 yr monitoring time, I think,


Inquiries only count for 1 year in every FICO model released to date, possible exception of FICO 9 which is pretty much an unknown quantity at this point.  They remain on the report for 2 years though.

 

Inquiries don't age in a vacuum, and there's long since been a theory that six months is the tradeline seasoning boundary.  My own data suggests inquiries count the same in that first year and it's just an aggregate measurement of all inquiries within 1 year that's scored (with the exception of mortgage / auto / student loans that have rollup rules for rate shopping purposes).

 




        
Message 12 of 14
NRB525
Super Contributor

Re: Score usually go up at the beginning of the month?


@Anonymous wrote:

 


My inquiry dae
 
CAP ONE NA
Date Filed
06/08/2015

AMEX
Date Filed
05/15/2015
 
CHASE CARD
Date Filed
05/14/2015

BK OF AMER
Date Filed
05/14/2015
 
CBNA
Date Filed
04/15/2015

Three new accounts in May, each would be aging to 3 months old as of August 1 if the "Opened" date were baselined to May 1.

In the score simulator that is used for general comparisons, there is a "new accounts" factor that uses <3 months, 3-6 and 6+ as the available categories. Thus I think there is some factor in there, and three accounts passing that <3 month gate helps the score.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 13 of 14
Anonymous
Not applicable

Re: Score usually go up at the beginning of the month?

I actually have 4 accounts hitting the 3 month mark! Smiley Very Happy

 

Open Dates:

 

Amex (Closed)

Date Opened
06/01/2002

 

Amex

Date Opened
05/01/2015
 
Barclays
Date Opened
05/01/2015
 
Barclays
Date Opened
07/01/2015
 
BoA (Closed)
Date Opened
06/01/2003
 
BoA
Date Opened
05/01/2015
 
Cap1
Date Opened
06/01/2015
 
CBNA
Date Opened
07/01/2003
 
Chase
Date Opened
05/01/2015
 
Citi
Date Opened
04/01/2015
 
Care Credit (Closed)
Date Opened
02/01/2010
 
 
Message 14 of 14
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