Calculating AAoA

EW800 · ‎07-28-2015

Greetings,

Can anyone confirm for me the proper way to calculate AAoA in regard to closed accounts? The opening date would be straight forward, however should the so-called ending date be the current date (today as an example, even though the account closed several years ago), or would it be only calculated up to the date the account was closed - as an example say three years ago?

Thanks!

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
April 2024: EX8: 840; EQ8: 832; TU8: 842 -- Middle Mortgage Score: 822
In My Wallet: Discover $73.7K; Cap1 Venture $51.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $24.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $22K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $300K+
My UTIL: Less than 1% - Only allow about $20 a month to report, on one account. .

JagerBombs89 · ‎07-29-2015

@EW800 wrote:
Greetings,

Can anyone confirm for me the proper way to calculate AAoA in regard to closed accounts? The opening date would be straight forward, however should the so-called ending date be the current date (today as an example, even though the account closed several years ago), or would it be only calculated up to the date the account was closed - as an example say three years ago?

Thanks!

Open and closed accounts all count the same. If you opened the account 07/2001 and closed it 07/2012, that invidivual account age would be 14 years rather than 11 years (since its been closed for 3).

Follow my story, road to 800!

From 800 to Foreclosure - Effects of Negatives

takeshi74 · ‎07-29-2015

+1 Use current date. Accounts don't stop aging due to closure.

EW800 · ‎07-29-2015

Excellent. Thank you very much for the clarification!

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
April 2024: EX8: 840; EQ8: 832; TU8: 842 -- Middle Mortgage Score: 822
In My Wallet: Discover $73.7K; Cap1 Venture $51.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $24.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $22K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $300K+
My UTIL: Less than 1% - Only allow about $20 a month to report, on one account. .

Anonymous · ‎02-18-2016

According to Credit Karma I now don't have a TU score because I have not had credit long enough. It just dropped off today. It was showing scores ever since I first logged in in 2012. I was trying to find out what is going on and I created accounts on Wallethub and Credit Sesame. Both say my AAoA is 3 months. That would be true if it was only my open accounts. I have several closed accounts before my BK that are still on my report. So is AAoA only calculated on open accounts? Or are they only looking at open accounts for FAKO?

Anonymous · ‎02-18-2016

FICO calculates all its age related factors (average age of accounts, age of oldest account, etc.) using open and closed accounts together, making no distinction between them.

Credit Karma uses Vantage Score, which must only use open accounts. There are other non-FICO scoring systems, and these might use open only or might calculate age the way FICO does.

What is the oldest open account on your TU report? How old is it?

Anonymous · ‎02-19-2016

Since everything was closed when I filed BK my oldest open account is 4 months. So that makes sense. As long as FICO uses the closed accounts. I have 7 closed accounts that were opened from 2002 to 2010. I can't get my FICO scores until 3/6 from CCT.