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When is a file considered mature and thick?

FreedomHammer
Valued Member

When is a file considered mature and thick?

My oldest closed account is about 22 years old. It was a student loan. My youngest revolver is only 15 months old.

 

Does my oldest open credit card need to be 36 months (somewhere I read) old to move my segmentation factor to a mature file scorecard?  Or do my other two new cards also need to be the same age? Or is it an average?


Also, regarding thick vs. thin scorecards: is this segmentation factor based upon open revolving accounts, or does it consider closed ones? I have three credit cards and wondered if a fourth would lock my bureau reports as thick?

 

 

Message 1 of 31
30 REPLIES 30
Dumbee
Established Contributor

Re: When is a file considered mature and thick?

At my bank's UW, over 36 mo. would be mature and segment differently for apps. For FICO's that's up for debate.


Smiley Embarassed
Personal/40.15K Biz/23K POT/17K
Message 2 of 31
Birdman7
Super Contributor

Re: When is a file considered mature and thick?


@FreedomHammer wrote:

My oldest closed account is about 22 years old. It was a student loan. My youngest revolver is only 15 months old.

 

Does my oldest open credit card need to be 36 months (somewhere I read) old to move my segmentation factor to a mature file scorecard?  Or do my other two new cards also need to be the same age? Or is it an average?


Also, regarding thick vs. thin scorecards: is this segmentation factor based upon open revolving accounts, or does it consider closed ones? I have three credit cards and wondered if a fourth would lock my bureau reports as thick?

 

 


@FreedomHammer It depends on which fico version you're talking about. On 5/4/2 you became mature when your oldest account hit 2 years. On version 8/9 you were mature when your oldest account turned 3 years old. So you've been mature for a long time. The Metric includes open and closed accounts.

 

as for thick and thin, how many tradelines do you have on your credit report? Including closed ones?

-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.





(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 3 of 31
FreedomHammer
Valued Member

Re: When is a file considered mature and thick?

I have three credit cards on my credit reports.

Message 4 of 31
Slabenstein
Valued Contributor

Re: When is a file considered mature and thick?


@FreedomHammer wrote:

I have three credit cards on my credit reports.


Do you have any installments other than the closed student loan?


Message 5 of 31
FreedomHammer
Valued Member

Re: When is a file considered mature and thick?

I have a Self lender installment loan that was just paid off. I shudder to see my score tank when that reports closed and paid. 

I also have many student loans from 1999-2015, all paid and closed. I lose my oldest (closed and paid) installment student loan account in 2025. I also lose my refinanced student loans (opened in 2015) in 2030, so I don't know how this will all work out in the end. 

Message 6 of 31
Slabenstein
Valued Contributor

Re: When is a file considered mature and thick?


@FreedomHammer wrote:

I have a Self lender installment loan that was just paid off. I shudder to see my score tank when that reports closed and paid. 

I also have many student loans from 1999-2015, all paid and closed. I lose my oldest (closed and paid) installment student loan account in 2025. I also lose my refinanced student loans (opened in 2015) in 2030, so I don't know how this will all work out in the end. 


If the Self loan was your only open installment, I'd expect you'd lose maybe 20 points?  The amount will be profile-dependant ofc, but you'll lose the points from having current installment activity and if it was close to paid off you'll lose the points from low balance-to-loan ratio as well.

 

It sounds like you currently have three open revolvers, one open installment (soon to report closed), and at least four closed installments (from your use of plurals).  That's at least eight reporting tradelines, so if you're on clean cards then you should be segmented to a thick scorecard.


Message 7 of 31
FreedomHammer
Valued Member

Re: When is a file considered mature and thick?

Thank you! 

Message 8 of 31
FreedomHammer
Valued Member

Re: When is a file considered mature and thick?

How long should I garden? With three new revolvers, oldest 15 months, another at about six months old, and just opened an Apple Card?

 

Am I looking at years upon years to reach 720, or 760? 

Message 9 of 31
Revelate
Moderator Emeritus

Re: When is a file considered mature and thick?


@FreedomHammer wrote:

How long should I garden? With three new revolvers, oldest 15 months, another at about six months old, and just opened an Apple Card?

 

Am I looking at years upon years to reach 720, or 760? 


What negatives if any?  Clean file isn't hard to make 720, 760 is easy on thin non-mature file; not that hard on older file if you just hang out a bit.  Applications on a limited file can be a doozy, best results will be if you just chill a year, but on the flip side I personally think it is better to be aggressive early in one's credit life and then you can just kick back and be patient for what you need as a result of changing life or market or anything else.

 

If you have non-trivial negatives it is hard to get above 750 for FICO 8.  Can be done dependent on the type of negative potentially.  




        
Message 10 of 31
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