Credit Cards Center Credit cards from our partners
Reply
Regular Contributor
Posts: 243
Registered: ‎02-29-2012
0

AAoA and Credit Applications

Does your AAoA or Average Age of Open Accounts factor in into your approval or denial when applying for a credit card? Creditkarma is saying my Average Age of Open Account is 3 months. I have 1 secured card for nine months. Last month I app'd for AMEX ZYNC and Discover Student and both instantly approved. Two New Student Loans have been added to my credit reports as of yesterday. I was planning on applying for Citi Forward come December. My average age of open account will be five months. Will that affect my citi forward application? Only my EQ report has a closed student loan dated from 2008.

Zync from American Express- NPSL
Amex BCE- $1,000
Discover IT- $1,500
Bank of America 1-2-3 Rewards-$1,000
Chase Freedom- $500
Capital One- $500
Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
0

Re: AAoA and Credit Applications

[ Edited ]

yes it affects your AAOA and AAOA has a direct impact on your credit score (15%) but on the good news it won't matter much to you since Fico automatically factors in 1 year minimum of history. Apping for 2 cards previously would have a harder hit on your approval chances.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Regular Contributor
Posts: 243
Registered: ‎02-29-2012
0

Re: AAoA and Credit Applications

Thank-you!

Zync from American Express- NPSL
Amex BCE- $1,000
Discover IT- $1,500
Bank of America 1-2-3 Rewards-$1,000
Chase Freedom- $500
Capital One- $500
Blogger
Posts: 3,367
Registered: ‎10-19-2012
0

Re: AAoA and Credit Applications


distantarray wrote:

yes it affects your AAOA and AAOA has a direct impact on your credit score (15%) but on the good news it won't matter much to you since Fico automatically factors in 1 year minimum of history. Apping for 2 cards previously would have a harder hit on your approval chances.


Do you mean FICO rounds up any AAoA smaller than 1 year? 

Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
0

Re: AAoA and Credit Applications

[ Edited ]

HiLine wrote:

distantarray wrote:

yes it affects your AAOA and AAOA has a direct impact on your credit score (15%) but on the good news it won't matter much to you since Fico automatically factors in 1 year minimum of history. Apping for 2 cards previously would have a harder hit on your approval chances.


Do you mean FICO rounds up any AAoA smaller than 1 year? 


your AAOA if less than 1 year overall will report 1 year, doesn't factor each as 1 year. Just over all.  So if you have 5 cards with AAOA of 9 months it'll still count as 1 year.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Highlighted
Blogger
Posts: 3,367
Registered: ‎10-19-2012
0

Re: AAoA and Credit Applications


distantarray wrote:

HiLine wrote:

distantarray wrote:

yes it affects your AAOA and AAOA has a direct impact on your credit score (15%) but on the good news it won't matter much to you since Fico automatically factors in 1 year minimum of history. Apping for 2 cards previously would have a harder hit on your approval chances.


Do you mean FICO rounds up any AAoA smaller than 1 year? 


your AAOA if less than 1 year overall will report 1 year, doesn't factor each as 1 year. Just over all.  So if you have 5 cards with AAOA of 9 months it'll still count as 1 year.


By AAoA (Average Age of Accounts), I implied the overall average age. Thanks for the confirmation! 

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.