How long for a good "aged" tradeln?

Discussion in 'Credit Talk' started by cosjef, May 18, 2001.

  1. cosjef

    cosjef Well-Known Member

    I just got a new CapOne card with a $5k tradeline. I want to buy a house in the fall. How many months need to elapse before the negative impact of this new tradeline is gone? August? September?

    Anyone have any ideas here?
  2. steve

    steve Well-Known Member

    I think the impact of the hard inquiry becomes much less after the one year mark (one year since the account was opened) probably because you start earning FICO points beginning at this time and I think these max out at the three year mark.
  3. MikeB

    MikeB Banned

    Steve, I believe he is referring to a new account and the effect on his FICO score, not just an inquiry. I don't know for sure, but I would think 6 months to a year is enough time. Different scoring models may look at it differently. Maybe someone has more insight?
  4. steve

    steve Well-Known Member

    I think 6 months is good for new accounts, but you'll start earning FICO points after 1 year.
  5. cosjef

    cosjef Well-Known Member

    Yep--I was referring to possible "damage" done to my FICO in the near term with this new card. I wonder how much it will drop with this new tradeline?
  6. R.

    R. Well-Known Member

    My score jumped 65 points in 35 days with the major difference being a revolving account going from 5 to 6 months old. There was also some debt ratio work (about 25% to 5% thanks to one card reporting my payment) but my feeling remains that it was the aging that did it.

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