So at the 12 month mark an account is no longer "new"?

[Twix]

I have been trying to figure out when the dings for new credit go away.  From what I have gathered reading lots of posts here, around the 12 month mark is when FICO no longer considers an account "new".  Is this correct?

[haulingthescoreup]

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Twix wrote:

I have been trying to figure out when the dings for new credit go away.  From what I have gathered reading lots of posts here, around the 12 month mark is when FICO no longer considers an account "new".  Is this correct?

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Yes, that's correct.

[Geordi]

Not meaning to step on the moderator's toes, but it is my understanding that Fico considers accounts to be new for 24 months.

GL

[haulingthescoreup]

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Geordi wrote:

Not meaning to step on the moderator's toes, but it is my understanding that Fico considers accounts to be new for 24 months.

GL

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Hey, I'm always willing to stand corrected; where'd you get that?

[GFer]

I understood that FICO counts "newness" till the 12 month mark, but they don't actually fall off credit report until they are two years.

[haulingthescoreup]

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GFer wrote:

I understood that FICO counts "newness" till the 12 month mark, but they don't actually fall off credit report until they are two years.

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Well, that's true for inqs. Hope it doesn't happen to my new accounts, though!

[GFer]

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@haulingthescoreup wrote:

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@GFer wrote:

I understood that FICO counts "newness" till the 12 month mark, but they don't actually fall off credit report until they are two years.

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Well, that's true for inqs. Hope it doesn't happen to my new accounts, though!

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Ok, Duhhhhhhhhh! LOL

I knew that. (Going to blame this on dehydration from the flu!) LOL

[haulingthescoreup]

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GFer wrote:

I knew that. (Going to blame this on dehydration from the flu!) LOL

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Ouch, sorry to hear. Our family has a vicious cold going around that almost qualifies as flu, but not quite.

[GFer]

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@haulingthescoreup wrote:

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@GFer wrote:

I knew that. (Going to blame this on dehydration from the flu!) LOL

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Ouch, sorry to hear. Our family has a vicious cold going around that almost qualifies as flu, but not quite.

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Thanks! Sorry everyone is sick!  Guess it's just 'that time of year'!

I told my family I was just getting it out of the way to start fresh for the new year---nothing but positive from here on out! LOL (Sounds good, anyhow!)

[RobertEG]

Some edification, please.  I know that new accounts bear the burden in credit scoring for the inq used to obtain the account for 12 mos., and that the new account reduces the average age of accounts.

But where, in FICO scoring,does a "new" account additionally score?