If I recall, 2 CC so this is 100% of cards reporting?
Yes, and I've been carrying the 'too many credit accounts with balances' ever since my first report with both revolving accounts showing but with only 1 card with a balance.
The young age, low AoYA, and INQ approaching 6 months all contribute to improving scores.
I thought all the points lost due to an inquiry came back at the one year mark. Do you mean that some of those points come back during the year?
It sounds like you aren’t believing 5%, 6%, 7% thresholds which is good.
I had to see it for myself. I really thought this 6 to 5 aggregate change was going to show a gain of a few points. Experian didn't change one single score this month.
It will be interesting to see how your scores evolve as the aging continues. Is there any way to move the statement date of the second card a week later? That would give you a clearer separation of score effects.
I think that's a really good idea too.
I've noticed that these myFICO alerts really depend on the card issuer's technology. The payment processor that my credit union uses - PSCU - is definitely on top of their game. I get myFICO alerts with TU score changes the very next afternoon with them.
This is the first month I saw an EQ score change alert as well, also due to that card reporting, but 1 day later than the TU balance change alert.
How can you tell what payment processor a CU uses? And the points for inquiries do come back all at once in a year, IMHO.
On my credit union's online banking site, when I click to make a payment or view a statement balance on my card I get a popup that shows the domain name of the payment processor.
Their name also shows on my credit reports right before the credit union name.
The first (and only) inquiries on EX and EQ cost me 19 and 20 points, respectively, so I've been thinking that I will see +40 points in December, when those age past 1 year and AoYA becomes 1 year again.
You did the research and saw people with young scorecards getting benefits at three months. what were the benefits at one year for young scorecards? On average.
I don't have a lot of verified data after the 4 month mark. I was told what to expect at certain aging thresholds by people who had seen the effects on someone else's credit report. They were certainly right about that 3 month threshold.
At 6mo AoYA (June report for me) they saw 5-15pt gains across several scores, similar to the 3mo AoYA 8-25pt gain I already observed.
Then at AAoA 1yr there will be some more points - around 10 or so. I reach this in August.
Then the big one in December - AoOA 2yrs, AoYA 1yr, and scoreable inquiries drop from 1 to 0 on all 3 CRA's. Supposedly, you can get pretty close to 800 by crossing this threshold with only 2 cards and low utilization. Also keep in mind that this is starting with no credit history, no delinquencies, and no public records.
Two cards only, always using both, and statement reports coming from PSCU and Citi. Citi doesn't report all the trended data that PSCU does - it's just the date of last payment without the amount paid.
PSCU reports first, then Citi reports 2 days later.
@Cassie awesome information thank you.
Have you ever had a day where PSCU carried a balance and citi did not since you’ve had EX CW? You don’t probably because the whole point is you’re trying to maintain a balance right?
Just on the first report in January. I didn't even get the Citi card in the mail before it reported a $0 statement balance. The CU card reported a $40 statement balance. That was my subscription to myFICO which stayed pending for 2 days AFTER the statement balance reported!