Reply
Established Contributor
Posts: 584
Registered: ‎07-20-2008
0

First Premier CC's / AAOA question

1. I've been reading a lot that if you have FPB cards, that most traditional cc companies will not issue you a card if they see you have these.  Is this really true?  

 

2. Why are people always saying don't close your oldest credit card account, because it will affect your AAOA, when in fact - closed or not, it is still calculated in your AAOA?

Filing Chap 7 as of 2/2015
Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

Re: First Premier CC's / AAOA question


westo12 wrote:

1. I've been reading a lot that if you have FPB cards, that most traditional cc companies will not issue you a card if they see you have these.  Is this really true?  

 

2. Why are people always saying don't close your oldest credit card account, because it will affect your AAOA, when in fact - closed or not, it is still calculated in your AAOA?


1) It shows that you were a desperate sub-prime borrower at one point.

 

2) People are misinformed. Sources like credit karma indicate that closing an account with impact AAoA. When in fact an account closed in good standing will continue to report for 10 years.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Contributor
Posts: 268
Registered: ‎10-25-2012
0

Re: First Premier CC's / AAOA question


Dustink wrote:

westo12 wrote:

1. I've been reading a lot that if you have FPB cards, that most traditional cc companies will not issue you a card if they see you have these.  Is this really true?  

 

2. Why are people always saying don't close your oldest credit card account, because it will affect your AAOA, when in fact - closed or not, it is still calculated in your AAOA?


1) It shows that you were a desperate sub-prime borrower at one point.

 

2) People are misinformed. Sources like credit karma indicate that closing an account with impact AAoA. When in fact an account closed in good standing will continue to report for 10 years.

 


LOL! I was literally just told that same thing by a few people on here when I got denied for Chase Freedom......Stupid credit "rebuilding" agency signed me up on the FP card. I got taken. lol

Shrug...I'm just using it until I get some more history to get a better card and then that one's gettin axed.


-------------------------------------------------------------------------------------------------
EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Established Contributor
Posts: 584
Registered: ‎07-20-2008
0

Re: First Premier CC's / AAOA question

[ Edited ]

So what about closed FP cc accounts? Would I be seen as a once desperate former subprime customer even then too?  :smileyhappy:  I just was approved for a Cap One, had a BofA card which was closed by them even though I was never late that I'm still paying off also.  Just wasn't sure if I'll be profiled until those age off in 10 years or not. :/

Filing Chap 7 as of 2/2015
Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

Re: First Premier CC's / AAOA question

FP seems to bug AMEX the most

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Established Contributor
Posts: 584
Registered: ‎07-20-2008
0

Re: First Premier CC's / AAOA question

Good to know, as I'd LOVE to have an Amex this time next year. :smileyhappy:

Filing Chap 7 as of 2/2015
Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

Re: First Premier CC's / AAOA question

[ Edited ]

westo12 wrote:

Good to know, as I'd LOVE to have an Amex this time next year. :smileyhappy:


If you get your baddies off and utilization down, you should be good to go.

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.