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Regular Contributor
kpresod
Posts: 137
Registered: ‎01-08-2012

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

[ Edited ]

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 :smileyvery-happy:.

Frequent Contributor
somnipotent
Posts: 367
Registered: ‎06-02-2008

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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Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

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
Regular Contributor
kpresod
Posts: 137
Registered: ‎01-08-2012

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:

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

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! :smileyvery-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
Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

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

[ Edited ]

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.....:smileyhappy:)))


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Established Contributor
Cdnewmanpac
Posts: 767
Registered: ‎01-16-2012

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! :smileyvery-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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Regular Contributor
kpresod
Posts: 137
Registered: ‎01-08-2012

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 :smileyvery-happy:. Got a bit excited for no reason! 


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