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Your AAOA

Frequent Contributor

Re: Your AAOA

Well there's the one I calculated from my entire credit history and then there is Equifax's version which calculates only the current accounts and the closed ones from the past 6 years.  The difference is phenomenal - 10 years to be exact!  Equifax's is the one the my score is calculated on, mine is... well... just for my own reckoning.  Smiley Happy 

 

I did some checking on another website and the graphs that a user posted suggests that there is a diminishing boost to your score on the 1st, 2nd and 5th years of your AAoA and perhaps even a very slight boost at the 10th year.  [I can't post the website, graph or user because apparently that site has been banned from MyFico.]  If that is the case I should see a slight score bump (1-2 pts) when my AAofA from Equifax reaches the 5th year later in October.


Starting Score: 732 October 2007; Current Score: EQ 836; TU 806, November 2017; Oldest Reporting EQ Account: 15.8 years; EQ AAoA: 8.0 years; Typical credit utilization 1.8% typical single card utilization 10.6%
Message 11 of 14
Contributor

Re: Your AAOA

You could be absolutely right, because I just got a score bump of 1 point to 675 - it would EXACTLY co-incide with the date of my original auto loan.


Amex $6K BankofAmer $2K CapPlatinum $2.5K Macys $1K Chase RR $16K CapQS $2.5K Discover $8.5K IN THE GARDEN til 6/1/2015
Beginning FICO 630 ish EQ 732/EXP 735/TU 753 (Aug) Goal 800
Message 12 of 14
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Community Leader
Valued Contributor

Re: Your AAOA

Let see.. my oldest account is from 1999 so that's 15 years.

Message 13 of 14
Frequent Contributor

Re: Your AAOA

Just to be clear -- it is when your AAoA hits the 1, 2, 5, 10, 15 year milestones that you MAY see a increase in your credit score -- not the age of a single debt or of your oldest debt.

 


Starting Score: 732 October 2007; Current Score: EQ 836; TU 806, November 2017; Oldest Reporting EQ Account: 15.8 years; EQ AAoA: 8.0 years; Typical credit utilization 1.8% typical single card utilization 10.6%
Message 14 of 14