Credit History

[TheFate]

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@09Lexie wrote:

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@TheFate wrote:

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@coldnmn wrote:

Credit Karma doesn't figure closed accounts into AAoA both are Facko scores and not to be trusted. The only true Fico score is through MyFico. They look at your whole credit file individually as well as total credit history. Example utilization of credit cards. 

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Thanks I noticed that. But closed accounts still count as a part of your AAoA i'm assuming. In my case they are paid off car loans.

But if anyone knows the answer to my OP i'd greatly appriciate it!

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Generally speaking, if the revolving accounts have been closed for awhile and there is no current revolving credit, then they will want current active rev cc's 

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I can see a purpose for that.. But I would think they just want to make sure you're not totally new to the whole credit card thing. 2 paid off satisfactory installment loans from 8 years ago has to count for something! lol

[TheFate]

When CC Companies have a min Credit history requirement for approval (Chase Freedom, BOA), are they looking at your total history (Including oldest account) or do they only look at your AAoA?

Also why does Freecreditreport.com (Experian) Show I have a AAoA: 3 Years, 9 Months

But CreditKarma (TU) shows only 1 Year, 6 Months ? Shouldn't AAoA be even accross the board?

[coldnmn]

Credit Karma doesn't figure closed accounts into AAoA both are Facko scores and not to be trusted. The only true Fico score is through MyFico. They look at your whole credit file individually as well as total credit history. Example utilization of credit cards. 

[TheFate]

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@coldnmn wrote:

Credit Karma doesn't figure closed accounts into AAoA both are Facko scores and not to be trusted. The only true Fico score is through MyFico. They look at your whole credit file individually as well as total credit history. Example utilization of credit cards. 

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Thanks I noticed that. But closed accounts still count as a part of your AAoA i'm assuming. In my case they are paid off car loans.

But if anyone knows the answer to my OP i'd greatly appriciate it!

[09Lexie]

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@TheFate wrote:

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@coldnmn wrote:

Credit Karma doesn't figure closed accounts into AAoA both are Facko scores and not to be trusted. The only true Fico score is through MyFico. They look at your whole credit file individually as well as total credit history. Example utilization of credit cards. 

---

Thanks I noticed that. But closed accounts still count as a part of your AAoA i'm assuming. In my case they are paid off car loans.

But if anyone knows the answer to my OP i'd greatly appriciate it!

---

Generally speaking, if the revolving accounts have been closed for awhile and there is no current revolving credit, then they will want current active rev cc's 

[09Lexie]

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@TheFate wrote:

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@09Lexie wrote:

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@TheFate wrote:

---

@coldnmn wrote:

Credit Karma doesn't figure closed accounts into AAoA both are Facko scores and not to be trusted. The only true Fico score is through MyFico. They look at your whole credit file individually as well as total credit history. Example utilization of credit cards. 

---

Thanks I noticed that. But closed accounts still count as a part of your AAoA i'm assuming. In my case they are paid off car loans.

But if anyone knows the answer to my OP i'd greatly appriciate it!

---

Generally speaking, if the revolving accounts have been closed for awhile and there is no current revolving credit, then they will want current active rev cc's 

---

I can see a purpose for that.. But I would think they just want to make sure you're not totally new to the whole credit card thing. 2 paid off satisfactory installment loans from 8 years ago has to count for something! lol

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Sorry but installment loans are usually not considered when it comes to revolving credit.  Installment loans have a fixed pyt schedule and they want to see how you pay your bills based on fluctuating balances, CL's etc.

moving to gen credit

[takeshi74]

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@TheFate wrote:

In my case they are paid off car loans.

But if anyone knows the answer to my OP i'd greatly appriciate it!

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Lexie already provided the answer:  installment and revolving accounts are different.  However, you're also comparing secured debt (your car is collateral) versus unsecured.

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@TheFate wrote:

But CreditKarma (TU) shows only 1 Year, 6 Months ? Shouldn't AAoA be even accross the board?

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Also already answered above but CK actually reports AAoOA, not AAoA.  AAoA should be the same assuming that the reported data is the same.