What happens when CCs Reach 1 Year Old?

[CreditInspired]

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@sarge12 wrote:

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@CreditInspired wrote:

Hi MyFICOers

I've read that once a CC ages one year, it's less of an impact. So will I possibly see a 1-2 pt increase in scores or is it only when inqs fall off the report, the increase in score takes place? Thanks.

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The score impact for inqueries will completely evaporate at the 1 yr. mark, and any score impact caused by the new cards will be determined by what the negative impact on AAoA the new cards caused and how much positive effects on utilization the extra cards results are. If the new card was the only new account and you had 7 aged accounts when it was acquired the effect on the score would be minimal. If however you only had 1 card before you acquired the new 1, it might have greater effect both on AAoA and utilization.

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Thanks sarge12. This is wonderful news.

[CreditInspired]

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@Anonymous wrote:

If that CC is that last account you opened, when you cross 1 year your AoYA crosses 1 year which could positively impact your scorecard assignment and your score.  In addition to that as already mentioned the inquirie(s) that you received from apping for the card will no longer be scoreable, which could result in another point or couple of point gain.

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Thanks BBS. This is definitely what I was hopig to hear.