Credit Card Center Advertiser Disclosure†
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
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† 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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.