thinking of seeding up a bunch of cards for aging

[eonaxes]

I have great credit but recently my AAoA took a hit when my oldest accounts: 12 or so student loan tradelines were finally paid off and closed.  I recently did a mini app spree after I hit my 5/24 quota from Chase so this is as good a time as ever to seed up some cards that I plan to keep open forever to collect a long aged history so I can continue to churn a majority of my other cards for sign up bonuses.

my first thought is NFCU... I already have a platinum with them... is there a max card count and total credit across all their cards that they are willing to extend to a customer?

there's also some store cards (Target and Kohls) I always wanted to have but never felt like burning a inq and new credit line on

 

Also when opening a new card is there a rule of thumb of how long do most creditors consider it a "new card"?  Hopefully I wont be at risk of the "too many new tradelines opened" denial excuse for more than 1/2 year.

[hegemony]

generally speaking a young account is one that is under 25 months of age.

 

closed account still contribute to AAoA. remember AAoA comes in many forms just like utilization does.

 

Instead of worrying about your profile and randomly getting new cards to "age" it, get cards that will grow with you and meet your regular spending patterns.

[DPB]

If you’re churning cards for SUBs, there are some decent business cards available. Most Biz cards don’t report to your personal reports, so you’re not affecting AAoA. You’ll just show INQs. 

[shifter]

Your AAoA hasn't changed. Those TLs will continue to report for up to 10 years. If you're looking at CK, they use AAoOA which isn't used in real life. 

[eonaxes]

yes totally agree with getting cards that actually provide value than just being useless place holders.  Forgot to mention that I plan to finally reup for the citi dividend card that I foolishly let get closed due to inactivity because it went through a rough 3 quarter stretch of weak categories

 

yes I was looking at CK AAoA.  I did recall that closed accounts should still contribute to AAoA but thought since it dropped on CK I just assumed that credit scoring algorithms must have changed

[cv91915]

19 hours ago, eonaxes said:

yes totally agree with getting cards that actually provide value than just being useless place holders.  Forgot to mention that I plan to finally reup for the citi dividend card that I foolishly let get closed due to inactivity because it went through a rough 3 quarter stretch of weak categories

 

yes I was looking at CK AAoA.  I did recall that closed accounts should still contribute to AAoA but thought since it dropped on CK I just assumed that credit scoring algorithms must have changed

Generally speaking if a thought begins with "according to Kredit Carma," the safest thing to do is dismiss it.

 

"Credit scoring algorithms" don't matter when the algorithms are used to determine worthless skores.

[cv91915]

Can you get added as an AU to one or more non-Amex cards owned by a friend/family? 

 

(Make sure you trust the owner and that it's a card that never sees high utilization --- and will absolutely never have a late.)

 

I recently got added to a Chase card my mother opened in 1992, which became my oldest account.

 

First instinct at this stage of life is to feel silly for asking mommy for anything, but when it comes to credit I have zero pride.  

 

(Cue PotO for at least one lame insult)

Edited October 19, 2019 by cv91915

[pacemaker67]

On 10/17/2019 at 7:37 PM, eonaxes said:

I have great credit but recently my AAoA took a hit when my oldest accounts: 12 or so student loan tradelines were finally paid off and closed.  I recently did a mini app spree after I hit my 5/24 quota from Chase so this is as good a time as ever to seed up some cards that I plan to keep open forever to collect a long aged history so I can continue to churn a majority of my other cards for sign up bonuses.

my first thought is NFCU... I already have a platinum with them... is there a max card count and total credit across all their cards that they are willing to extend to a customer?

there's also some store cards (Target and Kohls) I always wanted to have but never felt like burning a inq and new credit line on

 

Also when opening a new card is there a rule of thumb of how long do most creditors consider it a "new card"?  Hopefully I wont be at risk of the "too many new tradelines opened" denial excuse for more than 1/2 year.

It seems that 3 is the NFCU limit.  My Wife and I both have the Flagship which is basically a 2%+ cashback card with a $500 SUB.  It does have a $49 fee after the first year.  We run big charges through them and rack up points / cash.

 

As for limits, some say $25k per card unless you show docs.  They seem to value your NFCU history and have an internal score that is used for new cards along with a TU FICO 09 pull.  It seems that often 2nd and 3rd cards get higher starting limits but depends on DTI etc.  They are hard to figure sometimes as they will approve a $15k card with a 630 TU score and derogs and then deny someone with a 750+ score for some unknown reason, perhaps high DTI. 

[hangloose]

On 10/19/2019 at 7:54 AM, pacemaker67 said:

It seems that 3 is the NFCU limit.  My Wife and I both have the Flagship which is basically a 2%+ cashback card with a $500 SUB.  It does have a $49 fee after the first year.  We run big charges through them and rack up points / cash.

 

As for limits, some say $25k per card unless you show docs.  They seem to value your NFCU history and have an internal score that is used for new cards along with a TU FICO 09 pull.  It seems that often 2nd and 3rd cards get higher starting limits but depends on DTI etc.  They are hard to figure sometimes as they will approve a $15k card with a 630 TU score and derogs and then deny someone with a 750+ score for some unknown reason, perhaps high DTI. 

I can vouch for that... NFCU gave me a $24k limit card with zero validation/proof of income. My credit was in the 600's as well at the time

[eonaxes]

On 10/19/2019 at 4:43 AM, cv91915 said:

Can you get added as an AU to one or more non-Amex cards owned by a friend/family? 

 

(Make sure you trust the owner and that it's a card that never sees high utilization --- and will absolutely never have a late.)

 

I recently got added to a Chase card my mother opened in 1992, which became my oldest account.

 

First instinct at this stage of life is to feel silly for asking mommy for anything, but when it comes to credit I have zero pride.  

 

(Cue PotO for at least one lame insult)

why non-Amex?

[cv91915]

5 hours ago, eonaxes said:

why non-Amex?

Amex AUs report as new accounts.  V/MCs report with the original open date of the primary card.

[eonaxes]

ok thanks, didnt know that at all