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Youngest accounts turning 12 months this Saturday. Score bump anticipation...

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Anonymous
Not applicable

Re: Youngest accounts turning 12 months this Saturday. Score bump anticipation...


@Anonymous wrote:
Well that’s a disappointment.. Checked all three FICO bureaus and I didn’t gain a single point. Nothing has changed from my previous report other that the two youngest accounts aging one year. I’m shocked that I saw zero gain...

Do you have any idea which scorecard you're in?  Perhaps there are scorecards that see zero gain for AoYA reaching 12 months.

Message 11 of 33
Anonymous
Not applicable

Re: Youngest accounts turning 12 months this Saturday. Score bump anticipation...

My TU is perfect with zero lates, although EX and EQ show a 30 day late 4 years ago due to a boneheaded mistake on my part. I thought I would for sure see a bump with TU at the very least. Maybe I’ll see a small increase after my inquiries age out mid-month but at this point I’m done trying to figure about score reasoning.. lol
Message 12 of 33
VanderSnoot
Established Contributor

Re: Youngest accounts turning 12 months this Saturday. Score bump anticipation...

Is there any reason why it wouldn't report until July 1?

Message 13 of 33
Anonymous
Not applicable

Re: Youngest accounts turning 12 months this Saturday. Score bump anticipation...

I always understood that it would be counted as 1 year on the 1st day of the month the account was opened. It does show as 1 year old across all three bureaus so one would think scoring would be updated today. I’m sure it’s some sort of super secret bucketing issue. So much for gardening for a year..
Message 14 of 33
VanderSnoot
Established Contributor

Re: Youngest accounts turning 12 months this Saturday. Score bump anticipation...

The presence of negative information - regardless of how close to the 7 year limit or how minimal - can effectively cap scores, such that no amount of good behavior can improve a score past a point. I have some delinquencies aged 5 yr 9 mo, and I'm hoping passing the 6 yr mark will hit a benchmark and give my scores a boost. Wishful thinking? Someone here probably knows the answer.

Message 15 of 33
800FICOGoal
Established Contributor

Re: Youngest accounts turning 12 months this Saturday. Score bump anticipation...


@Anonymous wrote:

So I've done what I thought would be the impossible and gardened for 12 months! ...  My TU is squeeky clean and last time I checked is sitting at 766. I wonder how much of a gain I can expect?  My TU should be the first to hit 800 since EQ and EX are lower so that's why I'm focusing on it..



@Anonymous wrote:
Well that’s a disappointment.. Checked all three FICO bureaus and I didn’t gain a single point. Nothing has changed from my previous report other that the two youngest accounts aging one year. I’m shocked that I saw zero gain...

@Anonymous wrote:
My TU is perfect with zero lates, although EX and EQ show a 30 day late 4 years ago due to a boneheaded mistake on my part. I thought I would for sure see a bump with TU at the very least. Maybe I’ll see a small increase after my inquiries age out mid-month but at this point I’m done trying to figure about score reasoning.. lol

I am in almost the exact same situation as you @Anonymous, except I saw a less than desired increase.

 

My EX and EQ both have a foreclosure so they're lower than my "squeeky clean" TU. As of May 31, my EX was 688, EQ was 701, and TU sat at 745. I checked late this morning and saw TU only rose to 754. I was really hoping for the 15 points to put me into the 760 range.



Rebuild Cards

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Loans
Message 16 of 33
Glen_M
Frequent Contributor

Re: Youngest accounts turning 12 months this Saturday. Score bump anticipation...


@Anonymous wrote:
I always understood that it would be counted as 1 year on the 1st day of the month the account was opened. .

 

I would have expected that to be 1 year since first reported not opened.   If they were slow to report, or the lender was slow in reporting it to them, then you just end up waiting another month.

 

I have a similar situation, and I know they didn't all report the new account on the same month, and some are regularly lagging behind for whatever reason.  So I'm not expecting to see that 1-year bump until July or August for all three.



Message 17 of 33
Revelate
Moderator Emeritus

Re: Youngest accounts turning 12 months this Saturday. Score bump anticipation...

Date of first report isn’t really tracked on the reports, and actually is pretty easy to debunk with how AU’s can make a large difference score wise.

All the aging metrics are tracked off open date.

Not every account may count though, I got a gnarly scoreshift with a new credit card but I didn’t get the same with an auto or personal loan resetting AOYA so something is not quite known there: namely AOYA might just track off revolvers unlike AAOA.



        
Message 18 of 33
Anonymous
Not applicable

Re: Youngest accounts turning 12 months this Saturday. Score bump anticipation...

Am I understanding correctly that in your opinion I won’t see any score gain until I reach the actual open dates of 6/9 and 6/14? My EX report is stating that the latest opened account is 1 year.. Holding out some Hope hereSmiley Wink
Message 19 of 33
rbentley
Established Contributor

Re: Youngest accounts turning 12 months this Saturday. Score bump anticipation...


@Anonymous wrote:

My guess is you'll see a 20 point bump, +/- 5 points.  FICO 8 scores I'm talking, of course.


My youngest card turns 1 year on June 5th.  It is my understanding that age updates on the first of the month.  Just ran my scores and only got a 8 point bump.  No negatives or increased utilization which would have held scores down from last month when I ran them.  Every profile is different, of course.  I was dissapointed that I didn't see the 20 points that has been predicted.

Message 20 of 33
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