@Anonymous wrote:
@Anonymous wrote:
So whatever new account penalty exists other than the inquiry itself looks like it wears off earlier than a year or else doesn't actually exist.
Two things. One, an inquiry does not age off of your report at 12 months. It becomes unscoreable at 365 days yes, but will remain on your report for another year.
Second your statement I quoted above definitely is not the case. AoYA moving from < 12 months to 12+ months is a significant change and one that typically results in a 15-20 point FICO score gain. Relative to the (say) 4-5 point change associated with an inquiry, the AoYA threshold you mentioned is far more significant. If your score did not approve on the 1st of the month when your AoYA reached 12 months either there must be an error in your calculation, or your profile is simply not reacting (for whatever reason) to this event like we've come to expect. My guess is that there was an adverse scoring event that happened at the same relative time that masked your gain associated with the positive AoYA threshold crossing.
Certainly I was hoping for and expecting more than 3 points from 2 accounts going >12m and the last inq aging past 12 months. I was kind of hoping I would see my score get up into the 780's, given the mortgage app is coming up. But it didn't happen. The FICO2 at 797 is promising, but the FICO8 is just stuck there in the low 770's and only moved a few points.
There's no adverse scoring event. When it happened I was working towards AZEO. With every recent update to my credit report my utilization has reduced, the number of cards reporting a balance reduced (from 4 to 2), my overall utilization reduced. None of those changes budged my score an inch. AAYA going over 12 months made no difference. The inquiry aging to 12 months DID have an impact--I got a whole 3 points on FICO8. On FICO2 I got 11 points, which is much better. But FICO8 doesn't seem very sensitive to any of this.
There's no other derogatories on my file. No lates, no records, no collections--my file is clean. What holds back my score is age of oldest account is only around 4.5 years.
I used Experian's Credit Check Total to update my score every day for the last few days, looking only at the EX FICO8 scores that it provides daily. CCT is run by Experian, so it's not "my" calcualtion, it's Experian's. If it's calculating wrong then Experian is calculating wrong.
So that's data: On my file, on EX, for FICO8 it didn't make any difference. I only recently started this daily monitoring (planning a mortgage app soon) so I don't know if it mattered at the 6 month mark or 9 month mark or some other point in time. It didn't matter at 12.
