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Going to Accumulate 5yrs of credit history in April Next????

Regular Contributor

Going to Accumulate 5yrs of credit history in April Next????

Hi All,

 

Correct me if i'm calculationg my aaoa on my credit profile incorrectly. But I just realized that my cap1, paypal sc, walmart, creditone, bofa scc, are all going to make one year next year. Is that good ? or not ? and would that consider to be 5 yrs of credit history? Thanks in advance Smiley Very Happy.

Message 1 of 8
7 REPLIES
Frequent Contributor

Re: Going to Accumulate 5yrs of credit history in April Next????

If you got them all at the same time, then they are all going to be 1 year.  AAoA is a cummulative total, not individal.


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Homeowner since 05/29/13
Message 2 of 8
Established Contributor

Re: Going to Accumulate 5yrs of credit history in April Next????


Omaplatypus wrote:

If you got them all at the same time, then they are all going to be 1 year.  AAoA is a cummulative total, not individal.


^ this


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 3 of 8
Regular Contributor

Re: Going to Accumulate 5yrs of credit history in April Next????

Sorry, and that's what I was trying to explain. That each account would be making 1 year each, and I wanted to know if the total would be aaoa calculation would be 5 yrs. My mistake! Smiley Very Happy

Message 4 of 8
Established Contributor

Re: Going to Accumulate 5yrs of credit history in April Next????


kpresod wrote:

Sorry, and that's what I was trying to explain. That each account would be making 1 year each, and I wanted to know if the total would be aaoa calculation would be 5 yrs. My mistake! Smiley Very Happy


lol yea just take the age of all accounts and divide it by the number of accounts =)

 

you can find it on creditkarma under the pie chart on the main page of your credit/debt ratio.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 5 of 8
Valued Contributor

Re: Going to Accumulate 5yrs of credit history in April Next????

Sorry, and that's what I was trying to explain. That each account would be making 1 year each, and I wanted to know if the total would be aaoa calculation would be 5 yrs. My mistake! :smileyvery-happy: 

 

Yeah you wish.....Smiley Happy)))


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


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Message 6 of 8
Established Contributor

Re: Going to Accumulate 5yrs of credit history in April Next????


distantarray wrote:

kpresod wrote:

Sorry, and that's what I was trying to explain. That each account would be making 1 year each, and I wanted to know if the total would be aaoa calculation would be 5 yrs. My mistake! Smiley Very Happy


lol yea just take the age of all accounts and divide it by the number of accounts =)

 

you can find it on creditkarma under the pie chart on the main page of your credit/debt ratio.


Just FYI, credit karma calculated average age of OPEN accounts, so if you have closed accounts (which count towards fico AAoA), the two can be markedly different. To OP, 5 years of credit history means your oldest account is 5 years old. 5 year AAoA means the AVERAGE account age is 5 years. Having one card that is a year old or having 10 cards that are a year old will both give an AAoA of 1 year and a credit history of one year. 

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Message 7 of 8
Highlighted
Regular Contributor

Re: Going to Accumulate 5yrs of credit history in April Next????

Ok I see, and thanks for the responses. Also, I apologize for the the redundancy with my previous post Smiley Very Happy. Got a bit excited for no reason! 

Message 8 of 8