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Frequent Contributor
Roarmeister
Posts: 311
Registered: ‎04-21-2012

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.  :smileyhappy: 

 

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.

AMEX_PlatinumBMOWorldMCCapOnePlatinumMBNA_Platinum+ScotiaMomentum
___$18.5k______$20k_______$20k_______$25k______$25k____
Starting Score: 676 Feb 2008; Current Score: 775 EQ, 814 TU, July 2014; Goal Score: 785 by end of year
Oldest Account reported by EQ: 12.0 years; EQ AAoA: 5.3 years; EQ Credit Utilization: 3.4%
Contributor
TeeGee
Posts: 85
Registered: ‎06-26-2013

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 $2K 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 726/EXP 722/TU 748 (Jul) Goal 800
Established Contributor
eddie84
Posts: 554
Registered: ‎05-28-2013

Re: Your AAOA

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

7/13/14 EQ 754 | AmEx Platinum NPSL | Discover it $11k | BofA Travel Rewards Visa Sig $7k | Citi Platinum Select AAdvantage WMC $10k | Barclaycard Arrival+ WMC $9.7k | Jared/Kay $5.1k | Chase Sapphire Preferred $5k | BofA Cash Rewards Visa Sig $5k | DFS $5k | PayPal SC $5k | Citi Diamond Preferred MC $4.7k | BofA Better Balance Rewards MC $7k | Chase Freedom Visa $4k | Zales $5k | US Bank Visa Platinum $3k | Bloomingdale's $3k | Macy's $1.2k | Amex Delta SkyMiles $1k | Chase Amazon $800
Frequent Contributor
Roarmeister
Posts: 311
Registered: ‎04-21-2012

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.

 

AMEX_PlatinumBMOWorldMCCapOnePlatinumMBNA_Platinum+ScotiaMomentum
___$18.5k______$20k_______$20k_______$25k______$25k____
Starting Score: 676 Feb 2008; Current Score: 775 EQ, 814 TU, July 2014; Goal Score: 785 by end of year
Oldest Account reported by EQ: 12.0 years; EQ AAoA: 5.3 years; EQ Credit Utilization: 3.4%

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