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Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
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Re: Please help prepare me........


snowkitty wrote:

distantarray wrote:

depending on how many accounts you have your AAOA might not be affect much, also remember once you have many accounts to age your account many new inquiries won't 'affect your profile as much, eventually they'll plateau and stay above 760+ no matter how often you app. There are people who got over 150 new cards just for sign up bonuses in a couple years. Important thing is seems like your rebuilding your credit to let things garden well. I got mine in 1 year from 400's to 754 with just 1 student loan 7 years ago and 2 secured cards and 1 store card and a few brand new AU accounts (my parents frowned upon credit cards til I showed them the benefits)


 

wow....that is hard to believe! I I don't know how someone could keep up with that many or why companies would continue to approve them. I had always heard growing up that you had to be careful to not have too much credit because it would hurt you. Since my time being on here, I have learned that it is ok as long as you are using and paying your cards well.

 

How would I figure out my aaoa? I saw a formula before but could not figure it out. I would not think it would be hard since all of my stuff is recent except for the house and car loan (the house loan will fall of next Jan. so I guess that will hurt)

 


Credit Karma does your AAOA for you, just look on the main page scroll down below the "my debt" pie chart. 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Contributor
SpeedingWheels
Posts: 253
Registered: ‎08-06-2012
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Re: Please help prepare me........

As long as you're firmly rooted in the garden then the slight hit you're going to take this month will quickly be negated in a few months. 

The trick now is to let the accounts and the INQ's age and your numbers will blossom in time :smileyhappy:


Walmart Discover ($5000) - Amazon ($5500) - Cap1 Cash Rewards ($2000) - Meijer ($5000) - Discover More ($1800) - Car Care One ($2100) - Amex Delta Skymiles ($2000) - Citi Thank You Preferred ($2000) - Chase Freedom ($500) - Sam's Club, GE ($1237?)
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
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Re: Please help prepare me........


distantarray wrote:

Credit Karma does your AAOA for you, just look on the main page scroll down below the "my debt" pie chart. 



Just know that FICO calculates it much differently than how CK calculates it. CK factors open accts only. FICO looks at both opened and closed TLs. Mine is off by 3 yrs.


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