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FICO® Forums >
FICO Scoring and Other Credit Issues >
Understanding FICO® Scoring >
Calculating Average Account Age
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Re: Calculating Average Account Age
[ Edited ]
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 Tuscani
Moderator
Posts: 6450
Registered: 03-29-2007
Message 2 of 25
Viewed 24,873 times
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All TLs count against age. Don't cancel accounts unless they are costing you money.
Message Edited by Tuscani on 06-01-2007 03:47 PM
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06-01-2007 01:46 PM
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Re: Calculating Average Account Age
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masdeocho
Moderator Emeritus
Posts: 2286
Registered: 04-17-2007
Message 4 of 25
Viewed 24,862 times
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Nick777 wrote:
Just to clarify - even closed TLs count against age; therefore it does not matter whether a TL is open or closed when age is calculated?
If the score was calculated on the very day that a TL was closed -- then no, it wouldn't matter. But it's unlikely that will happen. Age is your friend. The score takes into account the age of the oldest TL -- so you don't want to close your very first CC. It also takes into account the average age of all accounts -- so you don't want to close a bunch of accounts.
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Bartender, bring another round of FICOtinis please!
3/13/2009: EX 822 TU 796 EQ 793
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06-01-2007 02:22 PM
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Re: Calculating Average Account Age
[ Edited ]
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MidnightVoice
Super Contributor
Posts: 7572
Registered: 03-25-2007
Message 5 of 25
Viewed 24,861 times
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Nick777 wrote:
Just to clarify - even closed TLs count against age; therefore it does not matter whether a TL is open or closed when age is calculated?
According to EX, that does not appear to be the case. There seem to be two measurements - when the first account was opened is one. But they seem to be using my active TLs to calculate the length of my credit history. Hence the one active card that does not report to them (out of 4) makes a huge difference to the average. Whereas that one card out of all my cards would have no impact on the average age. I might be confused here, but that is what the averages say
Message Edited by MidnightVoice on 06-01-2007 04:36 PM
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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06-01-2007 02:31 PM
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Re: Calculating Average Account Age
[ Edited ]
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fused
Moderator
Posts: 13940
Registered: 03-12-2007
Message 8 of 25
Viewed 24,581 times
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Tuscani wrote:
As far as age is concerned... only open TLs count.. Util, payment history, ect. still count on closed TL, however.
I have to disagree with you on this one! I have an old, closed AU TL reporting on EQ and TU and they have done two things: significantly raised my credit length history and average-age of my accounts. EX does not report this TL so my credit length history and average-age of accounts is much shorter and my score seems to reflect this.
Message Edited by fused111 on 08-28-2007 08:53 AM
--------------------------------
Whats In Your FICO Score
Improve Your FICO Scores
Closing Credit Cards
Please Remember To Be Friendly, Supportive And Respectful When Posting In The Forums!
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08-28-2007 11:50 AM
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Re: Calculating Average Account Age
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smallfry
Super Contributor
Posts: 3994
Registered: 04-20-2007
Message 9 of 25
Viewed 24,565 times
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fused111 wrote:
Tuscani wrote: As far as age is concerned... only open TLs count.. Util, payment history, ect. still count on closed TL, however.
I have to disagree with you on this one! I have an old, closed AU TL reporting on EQ and TU and they have done two things: significantly raised my credit length history and average-age of my accounts. EX does not report this TL so my credit length history and average-age of accounts is much shorter and my score seems to reflect this.
Message Edited by fused111 on 08-28-2007 08:53 AM
Right you are fused.
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08-28-2007 01:41 PM
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