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RSCo
Posts: 472
Registered: ‎02-11-2013
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Additional Amex Cards And Impact On AAOA...

So, I have ONE Amex card with an opened date of 2003, even though I just opened it 2 months ago - They back dated for me.. If I add another Amex to my list of accounts, will this new Amex and its back dating increase my AAOA even further?? My current AAOA is 7 yrs - before my app spree back in feb, it was 9 years. Adding 6 new cards to my list of carried cards back in Feb dropped my AAOA by 2 yrs.. I'm looking to reclaim some of the aging that I lost back.

Thanks.
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boomhower
Posts: 1,863
Registered: ‎09-20-2011
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Re: Additional Amex Cards And Impact On AAOA...

Yes, additional cards will back date to 2003.  But do the math and you'll see it won't make a huge difference to you AAoA.  If they offer a card you'll benefit from certainly go for it.  But don't do it just to try and increase your AAoA, it's just not worth the little improvement your getting.  The HP hit will likely do more damage. 

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hayabusa
Posts: 92
Registered: ‎04-04-2013
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Re: Additional Amex Cards And Impact On AAOA...


boomhower wrote:

Yes, additional cards will back date to 2003.  But do the math and you'll see it won't make a huge difference to you AAoA.  If they offer a card you'll benefit from certainly go for it.  But don't do it just to try and increase your AAoA, it's just not worth the little improvement your getting.  The HP hit will likely do more damage. 


most Amex cards have decent benefits and sign up bonuses that are worthwhile imo. Although the AAOA won't have a huge impact from a single card, but it will help regardless. I just had a new card posted on my report today. 

 

 

Although my AAOA was fairly low about 1.9 years with 19 accounts lol

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pakman92
Posts: 650
Registered: ‎03-01-2012
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Re: Additional Amex Cards And Impact On AAOA...


hayabusa wrote:

boomhower wrote:

Yes, additional cards will back date to 2003.  But do the math and you'll see it won't make a huge difference to you AAoA.  If they offer a card you'll benefit from certainly go for it.  But don't do it just to try and increase your AAoA, it's just not worth the little improvement your getting.  The HP hit will likely do more damage. 


most Amex cards have decent benefits and sign up bonuses that are worthwhile imo. Although the AAOA won't have a huge impact from a single card, but it will help regardless. I just had a new card posted on my report today. 

 

 

Although my AAOA was fairly low about 1.9 years with 19 accounts lol


Looks like above is from Credit Karma, if I remember correctly, the FAKOs at Karma only uses open TLs for AAoA where as FICO models include closed TLs also.


My Starting Score: EQ: 691 (11/30/11) TU98: 726 (11/30/11)
My Current Score: EQ: 779 (04/22/13) TU08: 835 (06/03/13)
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DW Current Score: EQ: 784 (03/11/13) TU08: 775 (06/03/13)
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013
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Re: Additional Amex Cards And Impact On AAOA...


pakman92 wrote:

hayabusa wrote:

boomhower wrote:

Yes, additional cards will back date to 2003.  But do the math and you'll see it won't make a huge difference to you AAoA.  If they offer a card you'll benefit from certainly go for it.  But don't do it just to try and increase your AAoA, it's just not worth the little improvement your getting.  The HP hit will likely do more damage. 


most Amex cards have decent benefits and sign up bonuses that are worthwhile imo. Although the AAOA won't have a huge impact from a single card, but it will help regardless. I just had a new card posted on my report today. 

 

 

Although my AAOA was fairly low about 1.9 years with 19 accounts lol


Looks like above is from Credit Karma, if I remember correctly, the FAKOs at Karma only uses open TLs for AAoA where as FICO models include closed TLs also.


+1

if you have several aged accounts that have been closed, which is common with auto loans esp, your real fico score should be higher than what CK is telling you.

But then again, CK's scores are too undependable to tell. Other paid FAKO services are much more reliable and have a lesser error of margin, although nothing is still as reliable as pulling the FICO score itself. 

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