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Established Contributor
zeusta20
Posts: 586
Registered: ‎02-22-2011
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Few questions here...Would amex increase my FICO score???...also questions about AAoA.

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

Amex: 06/12

Citi TYP: 07/12

CSP: 03/13

Freedom: 03/13

 

ALSO...how would you calculate getting the AAoA??? (stupid question, I know...but bare with me) lol

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Frequent Contributor
OhioCPA
Posts: 459
Registered: ‎03-29-2011
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Re: Few questions here...Would amex increase my FICO score???...also questions about AAoA.

[ Edited ]

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.

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Established Contributor
zeusta20
Posts: 586
Registered: ‎02-22-2011
0

Re: Few questions here...Would amex increase my FICO score???...also questions about AAoA.

Oh okay...Gotcha. Wells thanks for the info! Definitely helps!

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