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When is an account no longer considered "new"?

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805orbust
Valued Contributor

Re: When is an account no longer considered "new"?

Man, thanks for dropping the knowledge. Unreal. As for the clean account. There is one last item on my reports remaining. An old judgement that is due to drop off in March. After that I'll be 100% clean as a whistle. Don't know what to expect as far as scores then.


Message 41 of 44
Anonymous
Not applicable

Re: When is an account no longer considered "new"?

Hi 805.  If your reports gp from dirty to clean, that wiil certainly be a rebucketing event.  There are four scorecards for dirty profiles and eight for clean.

 

The only exception would be if the derogs present were a small number of Day 30 lates.  FICO 8 considers a profile like that "clean" for the purposes of scorecard assignment.  If, on the other hand you have substantially more serious derogs just before your last derogs go away, then you will definitely be assigned to a new scorecard.

Message 42 of 44
805orbust
Valued Contributor

Re: When is an account no longer considered "new"?

No lates whatsoever. Just the one last piece. I should probably change my name to 760 or bust because once I get to 760 again all the damage from 8 years ago will be undone and I could care less what my scores are above that :-)  May is going to be interesting tho since it looks as if I'll be rebucketed again according to you guys. Good stuff CGID.  Smiley Happy



Message 43 of 44
newhis
Valued Contributor

Sorry

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Message 44 of 44
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