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Sweet! New balance reporting, 4 Inq's...+6pts

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Regular Contributor

Re: Sweet! New balance reporting, 4 Inq's...+6pts

I have fairly young cards as well... I've historically always seen score increases at 3-6-12 month intervals as the accounts age and become older... This is a pretty widely reported occurence. Remember 15% of your score is new accounts. As the accounts age they become less of an impact.

Message 11 of 16
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Moderator Emeritus

Re: Sweet! New balance reporting, 4 Inq's...+6pts


@EricDET wrote:

I have fairly young cards as well... I've historically always seen score increases at 3-6-12 month intervals as the accounts age and become older... This is a pretty widely reported occurence. Remember 15% of your score is new accounts. As the accounts age they become less of an impact.


It's actually 10%.

 

What's In Your Score

Message 12 of 16
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Valued Contributor

Re: Sweet! New balance reporting, 4 Inq's...+6pts

Still doesnt seem logical that a 1 month increase in AAoA would offset the negative score effects of new INQ's and an account reporting a balance that was previously $0.....and still gain 6 pts on top of that.
Message 13 of 16
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Valued Contributor

Re: Sweet! New balance reporting, 4 Inq's...+6pts

This is my other thread with myficos explanation of the 6 pt increase.

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/High-Utilization-6-pts-heck-yea/td-p/3836...
Message 14 of 16
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Regular Contributor

Re: Sweet! New balance reporting, 4 Inq's...+6pts

You need to get AAoA out of your head.... Were not talking about average of anything. Its new accounts becoming less negative. My scores went from 715's to 780-800 the past 9 months without hitting an AAoA milestone. I won't hit AAoA until May.
Message 15 of 16
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Valued Contributor

Re: Sweet! New balance reporting, 4 Inq's...+6pts


@EricDET wrote:
You need to get AAoA out of your head.... Were not talking about average of anything. Its new accounts becoming less negative. My scores went from 715's to 780-800 the past 9 months without hitting an AAoA milestone. I won't hit AAoA until May.

In post 2, you referenced 'aging milestone'.  I thought you were talking about AAoA.  So you put it in my head lol.

 

I really didn't post a question in my opening threads...wasn't looking for answers,  Although I would like to have heard some perspectives on the score changes that seem to make no sense at all.

Message 16 of 16
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