AAoA question

[Aarvard]

I'm still a little bit confused about the AAoA factor in credit scoring. So if we have two credit files with identical information except that one has AAoA of 2.8 years and the other has AAoA of 2.3 years, which one will generate a higher score? I know FICO models round AAoA down but at least in my case, it seems that my score increases by a small amount each month (with nothing else changes).

Any ideas? 

[MarineVietVet]

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@Aarvard wrote:

I'm still a little bit confused about the AAoA factor in credit scoring. So if we have two credit files with identical information except that one has AAoA of 2.8 years and the other has AAoA of 2.3 years, which one will generate a higher score? I know FICO models round AAoA down but at least in my case, it seems that my score increases by a small amount each month (with nothing else changes).

Any ideas? 

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Your AAoA is the sum of the ages of every account (except CA collections and public records) on your report, whether open or closed, calculated in months, divided by the number of accounts and then divided by 12. I use the division by 12 to make it easier to convert into years. This is measured from the time each account was opened until present.

You can never have an AAoA of less than one year. This is built into the system.

You’ll need to figure the age of each account, open or closed, on each report. If all three reports are identical (very unlikely), you're in luck; otherwise, you'll need to run this for each report.

[Aarvard]

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@MarineVietVet wrote:

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@Aarvard wrote:

I'm still a little bit confused about the AAoA factor in credit scoring. So if we have two credit files with identical information except that one has AAoA of 2.8 years and the other has AAoA of 2.3 years, which one will generate a higher score? I know FICO models round AAoA down but at least in my case, it seems that my score increases by a small amount each month (with nothing else changes).

Any ideas? 

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Your AAoA is the sum of the ages of every account (except CA collections and public records) on your report, whether open or closed, calculated in months, divided by the number of accounts and then divided by 12. I use the division by 12 to make it easier to convert into years. This is measured from the time each account was opened until present.

You can never have an AAoA of less than one year. This is built into the system.

You’ll need to figure the age of each account, open or closed, on each report. If all three reports are identical (very unlikely), you're in luck; otherwise, you'll need to run this for each report.

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I know that, but is there a difference in score between a 2.3 AAoA file and a 2.8 AAoA file, assuming everything else is identical? If scoring models round AAoA down, so both of these files essentiall have AAoA of 2, right?

[Anonymous]

Yes.. AAoA is whole numbers only. Both have AAoA of 2 years. However reports with different ages could never be identical. 

[masscredit]

I've found that most of my reports have the AAoA listed. I didn't do the math to check. Is it safe to say the length of time they provide is accurate? 

[MarineVietVet]

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@Aarvard wrote:

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@MarineVietVet wrote:

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@Aarvard wrote:

I'm still a little bit confused about the AAoA factor in credit scoring. So if we have two credit files with identical information except that one has AAoA of 2.8 years and the other has AAoA of 2.3 years, which one will generate a higher score? I know FICO models round AAoA down but at least in my case, it seems that my score increases by a small amount each month (with nothing else changes).

Any ideas? 

---

Your AAoA is the sum of the ages of every account (except CA collections and public records) on your report, whether open or closed, calculated in months, divided by the number of accounts and then divided by 12. I use the division by 12 to make it easier to convert into years. This is measured from the time each account was opened until present.

You can never have an AAoA of less than one year. This is built into the system.

You’ll need to figure the age of each account, open or closed, on each report. If all three reports are identical (very unlikely), you're in luck; otherwise, you'll need to run this for each report.

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I know that, but is there a difference in score between a 2.3 AAoA file and a 2.8 AAoA file, assuming everything else is identical? If scoring models round AAoA down, so both of these files essentiall have AAoA of 2, right?

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Sorry for my confusion but Eric is correct. Both of those numbers would be rounded down to 2 years AAoA.

[MarineVietVet]

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@masscredit wrote:

I've found that most of my reports have the AAoA listed. I didn't do the math to check. Is it safe to say the length of time they provide is accurate? 

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I can only speak of reports from myFICO and CreditKarma. I'm not familiar with any other sites.

CK only uses open accounts in it's AAoA while myFICO reports use both open and closed and are accurate to the best of my knowledge.