My average age account is two years old and I want this to be higher. If I pay off my old accounts on my student loans, they will drop. How should I go about this to optimize my credit score and credit history? I'm now sure weather to pay them off, or pay as little as possible to keep and improve my credit score and history. I have a 740 by equifax so I'm scared any little thing I do will affect my score and history. Thank you so much.
AAoA as seen by FICO includes all open and closed accounts. Once you pay it off, it'll still report for another 10 years and still impact AAoA.
If increasing AAoA is the goal then the only thing you can do is wait. Only time can increase AAoA (and also by not adding accts).
Oh it includes both open AND closed I see. Okay got it. So in that case I'll just pay it off then. Thank YOu so much!