AAoA

[ArCpa]

Could someone tell me what my AAOA will be . Last wk i was approved for 2 CC. I would like to also have the formula in calculating the AAOA. My AAOA before the new accounts hit. Thanks

Exp  -  Oldest # 14.6 yrs      Equ  -  14.6        TU  -   14.6

             Average # 5.8                          5.8                      6.2

[myjourney]

http://ficoforums.myfico.com/t5/Credit-Cards/Helpful-AAoA-calculator-site/m-p/2713497#M775283

http://ficoforums.myfico.com/t5/Credit-Cards/How-to-Calculate-the-AAoA/m-p/2196911#M612988

Just an examples

[user5387]

If your AAoA was originally 5.8 years, with N cards, and you add two, then the new AAoA would be:

   (N * 5.8) / (N + 2)

The expression "N * 5.8" gives your total account age, which then needs to be spread across N + 2 accounts.

[takeshi74]

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@ArCpa wrote:

I would like to also have the formula in calculating the AAOA. 

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The formula isn't a secret.  It's like averaging anything else.  You add up the values and divide by the number of values.  Some find it easier converting to months, calculating and converting back but the formula posted by user5387 is a bit easier IMO when the prior AAoA is known.