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AAoA and Credit Applications

Regular Contributor

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
5 REPLIES
Established Contributor

Re: AAoA and Credit Applications

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

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

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

Re: AAoA and Credit Applications


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

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!