JAMTAMASH Posted April 17, 2008 Report Share Posted April 17, 2008 Just a quick question: has anyone seen and increase on CA when their credit card hit a year old. The reason I am asking is I have 4 cards that will hit a year this May, June and July. Just wondering if I will see an increase with the little bit of age. I did see and increase at the 6 month time frame. Link to comment Share on other sites More sharing options...
lovebug5 Posted April 17, 2008 Report Share Posted April 17, 2008 Can't answer this one, myself. I haven't noticed any positive effect on my scores at 6 months. *shrug* Link to comment Share on other sites More sharing options...
isislc Posted April 19, 2008 Report Share Posted April 19, 2008 Just a quick question: has anyone seen and increase on CA when their credit card hit a year old. The reason I am asking is I have 4 cards that will hit a year this May, June and July. Just wondering if I will see an increase with the little bit of age. I did see and increase at the 6 month time frame.To answer your question, yes. You receive the Fico bump perk at 6 months, 1 yr, and then 2 yrs.By the way Jam, CA = Collection Agency and CRA= Credit Reporting Agency. Link to comment Share on other sites More sharing options...
Dre Posted April 19, 2008 Report Share Posted April 19, 2008 Took about 6 months to a year for my to increase/raise some. It is all about patience, but we all become very impatient with this process Link to comment Share on other sites More sharing options...
Magdalen77 Posted April 19, 2008 Report Share Posted April 19, 2008 To answer your question, yes. You receive the Fico bump perk at 6 months, 1 yr, and then 2 yrs.By the way Jam, CA = Collection Agency and CRA= Credit Reporting Agency. So, I have hope that these will start going up again next month and the month after (most of my new accounts from my December/January spree)? Good, because they're all down from the highs about 20-40 points due to usage (which will also be down next month). Link to comment Share on other sites More sharing options...
dARTHcREDIT Posted April 19, 2008 Report Share Posted April 19, 2008 I have noticed that after 8 months my scores jumped:TU 50 pointsEQ 15 points EX 32 pionts. Not too shabby, but I still have 4 Baddies on my report from 2 years ago. Only time will tell. Link to comment Share on other sites More sharing options...
Moneedshelp Posted April 19, 2008 Report Share Posted April 19, 2008 Increase can take some time Just don't make a late payment because you will see that score decrease immediately!!!! Link to comment Share on other sites More sharing options...
JAMTAMASH Posted April 20, 2008 Author Report Share Posted April 20, 2008 Thank you with all your replies. I will look forward to the increases starting next month or when they report at the year level. And I never pay any cc late. I will pay my electric/gas late first. Link to comment Share on other sites More sharing options...
lhslancers Posted April 26, 2008 Report Share Posted April 26, 2008 All things being equal you get a bump after an account reaches 1 year. FICO stops penalizing you for a new account at that time. Might not be much it all depends upon your individual file. Link to comment Share on other sites More sharing options...
LeslieR Posted April 26, 2008 Report Share Posted April 26, 2008 Geez, this thread is very disappointing to me. I thought that at least at six months one would see a pretty dramatic bump. Darthe's results are encouraging...but a whole year seems like quite a long time to suffer with new account "dings."However, I am guessing how many other negatives you have at the time the new accounts start aging may have quite an impact, too. Luckily, as my accounts age, my derogatories are almost at zero and will be gone 100% by the time the app spree card are six months old. Link to comment Share on other sites More sharing options...
isislc Posted April 26, 2008 Report Share Posted April 26, 2008 Geez, this thread is very disappointing to me. I thought that at least at six months one would see a pretty dramatic bump. Darthe's results are encouraging...but a whole year seems like quite a long time to suffer with new account "dings."However, I am guessing how many other negatives you have at the time the new accounts start aging may have quite an impact, too. Luckily, as my accounts age, my derogatories are almost at zero and will be gone 100% by the time the app spree card are six months old.Actually, accounts aren't considered new anymore at 6 months so you get anywhere from a 4-7 point jump for each account at that time. This is good if you have a few accounts that are going to report at the same time. You get the same hike at a year also and so on. But you also get the gradual increases between that time as you consistently show that you are paying off your cards and keeping your utilization down. So, here is the breakdown. You tend to get an increase when:-You open a new account.-Reach 6 months of age-Consistently pay your cards on time.-Keep utilization under 30% for each card-Keep utilization undre 30% universally-Reach 1 year of age-Reach 2 years of age Link to comment Share on other sites More sharing options...
Magdalen77 Posted April 26, 2008 Report Share Posted April 26, 2008 Actually, accounts aren't considered new anymore at 6 months so you get anywhere from a 4-7 point jump for each account at that time. This is good if you have a few accounts that are going to report at the same time. You get the same hike at a year also and so on. But you also get the gradual increases between that time as you consistently show that you are paying off your cards and keeping your utilization down. So, here is the breakdown. You tend to get an increase when:-You open a new account.-Reach 6 months of age-Consistently pay your cards on time.-Keep utilization under 30% for each card-Keep utilization undre 30% universally-Reach 1 year of age-Reach 2 years of ageIf what you say is true then I'm looking at quite a jump in the next two months. Even if it's just 4 points per account, I have 12 new accounts, so 48 points in the next couple of months...I'll take it!! I'm already seeing a bit of an increase as my usage goes down as my cards report this month. I've made serious payments on all my cards this month because my usage was around 36%. No more high usage, there's a big difference between how people see you when your scores are 603-694 vs. 628-721. (helluva a range, I know, thanks fricking EX). Link to comment Share on other sites More sharing options...
LeslieR Posted April 26, 2008 Report Share Posted April 26, 2008 Thanks. That does put it in perspective. I have five new accounts opened within a month's span (nice ones, too)...so each jump will be one I can feel! Link to comment Share on other sites More sharing options...
isislc Posted April 27, 2008 Report Share Posted April 27, 2008 I know the number jumps I listed work for scoring. Been strategically planning all my payments and balances for the last 4 months to get myself where my numbers are now. In just the last month my score jumped up 55pts because of all the factors that had been scored in.It's funny but keeping track of Fico scores is almost like a game of chess. You gotta be careful with what moves you make and how many poor choice moves you can make before you get into trouble. With how I have everything factored for my CCs, I should be hitting 700+ for at least my EQ and EX reports by June. Link to comment Share on other sites More sharing options...
lovebug5 Posted April 28, 2008 Report Share Posted April 28, 2008 Whoa. If that 4-7 points during the 6-month anniversary theory is true, there won't be an issue with me hitting the 700's by June. LOL. Link to comment Share on other sites More sharing options...
Magdalen77 Posted April 29, 2008 Report Share Posted April 29, 2008 Whoa. If that 4-7 points during the 6-month anniversary theory is true, there won't be an issue with me hitting the 700's by June. LOL.Me too!! At least for TU and EQ (which has gone down under 700 due to utilization). I expect the answer to when I hit 700 on fricking EX is "when hell freezes over". Link to comment Share on other sites More sharing options...
lovebug5 Posted April 29, 2008 Report Share Posted April 29, 2008 I've got my fingers crossed for us both, Mag. Although you're a bit ahead of me in the game. Link to comment Share on other sites More sharing options...
Magdalen77 Posted April 29, 2008 Report Share Posted April 29, 2008 I've got my fingers crossed for us both, Mag. Although you're a bit ahead of me in the game. I think, on average, you're higher, but I'm thinking good thoughts for both of us. Link to comment Share on other sites More sharing options...
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