04-30-2013 03:04 PM
04-30-2013 03:12 PM
Not too long, though. The sooner you start building your AAoA, the sooner you can go for the cards you want.
04-30-2013 03:25 PM
05-01-2013 10:25 AM
Well, part of the reason people go on 'app sprees' s because they get a cluster of accounts that age together, so your credit score takes a bigger dive in the present, but is stronger going from then.
1st card ever: Capital One
Average Age of Accounts is 1 month
A year later...
Average Age of Accounts is 12 months
...until you apply for a new card.
2nd card: Discover IT
Average Age is now 6 months
Versus taking on two cards:
Capital One and Amazon Store Card
AAoA is 1 month
A year later...
AAoA is 12 months
....and when you apply for a new card..
AAoA is now 8 months.
I hope that wasn't terribly confusing. It doesn't seem like a lot, but the newer your cards are, the slower your Average Age increases.
05-01-2013 10:33 AM
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