06-25-2013 01:49 AM
hey peeps...So As you all know, i've been looking to get the BCE next. Which has been hard as hell because i've gotten the itch BAD the last few days...lol. I ALMOST apped for it, but stopped myself at the last sec...haha.
But my question is, Would getting a BCE increase my fico score? I already have Amex Gold, which has been opened in 2012. So if I get the BCE, it should increase my AAoA right if it gets backdated? Which is currently at 2 years. My portfolio is as follows:
1FBUS: Opened 07/08
Wells Fargo: 08/08
Citi TYP: 07/12
ALSO...how would you calculate getting the AAoA??? (stupid question, I know...but bare with me) lol
06-25-2013 02:13 AM - edited 06-25-2013 02:20 AM
If your Amex Gold was opened in 2012, another Amex would not increase your AAoA from the current 2 years. Adding a card that is reported as being open for a year will not help. The only card that would raise your AAoA would be one reported as open for more than 2 years.
To calculate your AAoA, just add the number of months that each of your cards have been open, e.g., 12 for CITI, plus 3 for CSP, etc, then divide by 12 then divide by the number of cards. Assuming you have no closed accounts I calculate an AAoA of roughly 2.1 based on the cards you listed. Adding a new Amex will lower this to 1.95, which is rounded down to 1. It would recover in a month or two.
06-25-2013 08:29 AM
Oh okay...Gotcha. Wells thanks for the info! Definitely helps!
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