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Closed Fingerhut and lost Age

Valued Contributor

Closed Fingerhut and lost Age

Credit Karma shows me losing 1 month's(age) and a couple of points because I closed my Fingerhut account(opened on 1/13). I thought the account stays on there for 10yrs which won't affect your AAoA? 

15 REPLIES
Valued Contributor

Re: Closed Fingerhut and lost Age

CK only uses age of open accounts. that is why these FAKO scores are usually so far off.

If anyone needs me I will be In The Garden. Goal Score: 760 for all in 2015.
Current FICO Scores EX: 715 EQ: 756 TU: 762
Last APP April 21, 2015.
Victim of The great AMEX HP heist of Dec 1st, 2nd and 3rd of 2014.
Valued Contributor

Re: Closed Fingerhut and lost Age


TheGardner wrote:

CK only uses age of open accounts. that is why these FAKO scores are usually so far off.


Credit.com says I have an AAoA of 2yrs 4 months. CK says I have one of 6 months. Which one do creditors see and go by?

Established Member

Re: Closed Fingerhut and lost Age

Whatever lender you apply with will determine your actual AAOA. I mean, you can determine your actual AAOA as well! But creditkarma and other FAKO sites are not 100% accurate, and actually sometimes are very inacurate so its probably best if you calculate it yourself to see the actual number. I dont have a subscription through myfico but im sure their products offer an AAOA?

Whats In My Wallet? A Whole Lotta' Awesomeness!
Mega Contributor

Re: Closed Fingerhut and lost Age

Credit Karma only figures in open accounts. Your actual AA of acounts figure open and closed accounts. 

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Valued Contributor

Re: Closed Fingerhut and lost Age

2.4 is likely more accurate. But I do believe fico rounds down to 2 yrs.
If anyone needs me I will be In The Garden. Goal Score: 760 for all in 2015.
Current FICO Scores EX: 715 EQ: 756 TU: 762
Last APP April 21, 2015.
Victim of The great AMEX HP heist of Dec 1st, 2nd and 3rd of 2014.
Super Contributor

Re: Closed Fingerhut and lost Age

+1 to all that stated CK only factors open accounts and does not count closed accounts into AAoA

Correct 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Valued Contributor

Re: Closed Fingerhut and lost Age


TheGardner wrote:
2.4 is likely more accurate. But I do believe fico rounds down to 2 yrs.

All this time I thought the creditors saw only a few short months since I've gotten denials and approvals(ie these factors affected your score) saying "insufficient credit history", "length of time since account opening" or "too many accounts in a small time" etc. That's why I thought CK was more accurate as far as AAoA went. I knew their scores were FAKOs and not to pay too much attention to them. 

 

I've had both student loans and one Cap1 credit card in 2001 that were all closed and paid as agreed. I didn't open any new credit accounts until Jan 2013. I figured my past loans/revolving credit weren't being factored in as far as AAoA goes...although they still showed up when I pulled my credit reports. 

Mega Contributor

Re: Closed Fingerhut and lost Age


JSS3 wrote:

TheGardner wrote:
2.4 is likely more accurate. But I do believe fico rounds down to 2 yrs.

All this time I thought the creditors saw only a few short months since I've gotten denials and approvals(ie these factors affected your score) saying "insufficient credit history", "length of time since account opening" or "too many accounts in a small time" etc. That's why I thought CK was more accurate as far as AAoA went. I knew their scores were FAKOs and not to pay too much attention to them. 

 

I've had both student loans and one Cap1 credit card in 2001 that were all closed and paid as agreed. I didn't open any new credit accounts until Jan 2013. I figured my past loans/revolving credit weren't being factored in as far as AAoA goes...although they still showed up when I pulled my credit reports. 


Some if not most credit cards may put more or all their weight on figuring extending credit to open accounts only. AAA of figuring closed accounts usually go back 10 years at most.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $13.5k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $6.1k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $4.85k / Citi DC (WMC) $7.1k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Established Member

Re: Closed Fingerhut and lost Age

Also, I have read multiple threads on this forum that even though trade lines are supposed to stay on your report for a certain amount of years, that many people have had the CC fall of years before it was supposed to which dropped their AAOA dramatically.. im not saying thats what happened to you.. Just sayin' in general! Smiley Happy

Whats In My Wallet? A Whole Lotta' Awesomeness!