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Valued Member
SALEEN961
Posts: 34
Registered: ‎04-21-2013
0

AAoA? Open Accounts vs Closed Accounts

I just came to realize that my AAoA is much longer then I thought it was; CreditKarma shows my AAoA at 1yr4mo which is a little short, but I just realized that they aren't counting in the 5 closed student loans that I paid off which also happen to be my oldest tradelines, my AAoA counting in these 5 closed accounts is actually 3yr0mo which is a lot better then CK is telling me.

 

This is a great realization for me but it also got me thinking, why is CK excluding these tradeline that I know are on my credit reports at each credit bureau, I know that my AAoA should be calculated with all the tradelines on my credit report regardless of whether they are closed or open, but is CK calculating my AAoA this way because certain lenders only look at open accounts for this calculation? Or is this just CK's quirky way of doing things that has nothing to do with how lenders look at my CR?

Discover IT 19K | AMEX BCE 13.9K | PayPal Extras MC 10K | Chase Freedom Visa Signature 5K | Chase Amazon 4K

EX FICO: 751 myFICO 4/14, 754 Amex 5/13
EQ FICO: 775 DCU 4/14, 754 myFICO 7/13
TU FICO: 788 Discover 8/14, 762 myFICO 7/14
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guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: AAoA? Open Accounts vs Closed Accounts

CK only factors in open accounts for AAoA unlike FICO who factors all OC accounts, opened, closed, good, or bad.

 

And no, lenders to not use CK.

Valued Contributor
takeshi74
Posts: 3,051
Registered: ‎06-05-2013
0

Re: AAoA? Open Accounts vs Closed Accounts

[ Edited ]

They why doesn't really matter.  Every score is calculated differently and that's why they vary.  What matters is the scoring and critiera that the lender you're applying to uses.

 

As stated above, none of them use CK.  CK's just a handy monitoring tool.

New Contributor
PCMedic
Posts: 68
Registered: ‎01-24-2009
0

Re: AAoA? Open Accounts vs Closed Accounts


takeshi74 wrote:

They why doesn't really matter.  Every score is calculated differently and that's why they vary.  What matters is the scoring and critiera that the lender you're applying to uses.

 

As stated above, none of them use CK.  CK's just a handy monitoring tool.


I'm not even sure I would consider CK a good monitoring tool anymore. My score has not moved in 3 months and have noticed the balances on my accounts they are showing is 2-3 months behind actuals.

 

 

Scores Credit Karma TU=697 Vantage 727 | WalMart TU=709 | CreditSesame Exp=739 | Exp. FICO = 739 Barclays TU=706 Discover IT = 702

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Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
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Re: AAoA? Open Accounts vs Closed Accounts


PCMedic wrote:

takeshi74 wrote:

They why doesn't really matter.  Every score is calculated differently and that's why they vary.  What matters is the scoring and critiera that the lender you're applying to uses.

 

As stated above, none of them use CK.  CK's just a handy monitoring tool.


I'm not even sure I would consider CK a good monitoring tool anymore. My score has not moved in 3 months and have noticed the balances on my accounts they are showing is 2-3 months behind actuals.

 

 


If you have the free CK they only update every 6 months.

Super Contributor
MidnightVoice
Posts: 8,157
Registered: ‎03-25-2007
0

Re: AAoA? Open Accounts vs Closed Accounts


guiness56 wrote:

PCMedic wrote:

takeshi74 wrote:

They why doesn't really matter.  Every score is calculated differently and that's why they vary.  What matters is the scoring and critiera that the lender you're applying to uses.

 

As stated above, none of them use CK.  CK's just a handy monitoring tool.


I'm not even sure I would consider CK a good monitoring tool anymore. My score has not moved in 3 months and have noticed the balances on my accounts they are showing is 2-3 months behind actuals.

 

 


If you have the free CK they only update every 6 months.


My CK updates every 7 days (if I remember to log on).  And it is pretty up to date on my balances.  And it is free.

 

I find it useful to use to check my status with TU, although TU is frequently the slowest to update in general for me

The slide from grace is really more like gliding
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Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: AAoA? Open Accounts vs Closed Accounts


MidnightVoice wrote:

guiness56 wrote:

PCMedic wrote:

takeshi74 wrote:

They why doesn't really matter.  Every score is calculated differently and that's why they vary.  What matters is the scoring and critiera that the lender you're applying to uses.

 

As stated above, none of them use CK.  CK's just a handy monitoring tool.


I'm not even sure I would consider CK a good monitoring tool anymore. My score has not moved in 3 months and have noticed the balances on my accounts they are showing is 2-3 months behind actuals.

 

 


If you have the free CK they only update every 6 months.


My CK updates every 7 days (if I remember to log on).  And it is pretty up to date on my balances.  And it is free.

 

I find it useful to use to check my status with TU, although TU is frequently the slowest to update in general for me


My bad.  I meant Quizzle.


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