Credit Cards Center Credit cards from our partners
Reply
Regular Contributor
Posts: 225
Registered: ‎02-22-2013
0

Age of Credit History

Hopefully, I am wrong in thinking I know the answer to this, but, we will see.

 

I have Score Watch through this site so I keep up with my Equifax FICO.  I pull my TU FICO from here, once per month.  I have monitoring thru Experian and receive a FAKO Plus Score.  I will admit, I also check my credit karma once per week.  I have a high C on the Vantage Score and the only C catagory is the 'Age of Credit History'. 

 

I recently got a new CC and intend to 'garden' for at least 8 months to a year as I know a new CC affects the Age of Credit History. Now, having said that, here is my question, is there any way, other than gardening, that can improve your Age of Accounts????  I can't honestly fathom any way to improve quickly, but I am definitely a novice when it comes to credit scoring.

 

Appreciate any input...

 

 

Homeowner Again as of July 17, 2014. Thanks NFCU
FICOs EQ - 670/EX - 702/TU - 696
Cap1 Q1 $3,500 / Cred 1 $2,025 / 1st Natl $2,250 Kohl's $5,000 / Barclay Rew $2,150 / Barclay SM MC $2,400 / NFCU Visa Sig Cash Rew $17k / Lowes $8,800 / Best Buy $4k / NFCU LOC $15k / Walmart MC $1,600 / Chase Freedom $1,500
Moderator Emeritus
Posts: 32,865
Registered: ‎08-04-2007
0

Re: Age of Credit History

Be sure to know that their "Age of Credit History" is calculated differently than the length of credit history via myFICO (for some folks). CreditKarma ignores closed accounts for the most part, whereas FICO scores them quite heavily. AAoA as calculated by CK ignores closed accounts. FICO factors them in. In other words, you might have a "C" but FICO might be viewing much, much better. 

 

In terms of improving AAoA, let your accounts age and only apply for credit you need. And avoid closing accounts. While they'll still factor in per FICO, closed accounts will eventually delete.

 

 

Highlighted
Regular Contributor
Posts: 225
Registered: ‎02-22-2013
0

Re: Age of Credit History

Thank you very much for your reply.  It certainly makes sense since CK is a FAKO.. And now that you mention it, I had noticed no closed accounts on CK.  I guess I don't feel quite so bad now. 

 

I will say that it will be interesting to see what kind of numbers turn up when the 3 bureaus go to Vantagescore 3.0...

 

Thank you

Homeowner Again as of July 17, 2014. Thanks NFCU
FICOs EQ - 670/EX - 702/TU - 696
Cap1 Q1 $3,500 / Cred 1 $2,025 / 1st Natl $2,250 Kohl's $5,000 / Barclay Rew $2,150 / Barclay SM MC $2,400 / NFCU Visa Sig Cash Rew $17k / Lowes $8,800 / Best Buy $4k / NFCU LOC $15k / Walmart MC $1,600 / Chase Freedom $1,500
Frequent Contributor
Posts: 344
Registered: ‎07-27-2011
0

Re: Age of Credit History

So your paying for Score Watch and paying every month for a TU report????  That's good money that can go towards debt/balances too.


Starting Score: 521 TU, 597 EQ, 574 EX on 6/20/2011
Current Score: 753 TU, 764 EQ, 766 EX on 02/17/2014
Goal Score: 720-740 Across the board


Take the FICO Fitness Challenge
Regular Contributor
Posts: 225
Registered: ‎02-22-2013
0

Re: Age of Credit History

Thanks for your response, but I actually get Equifax thru myfico and scorewatch.  I only pull my fico score once per month.  I use Credit Karma for TU report & FAKO..

 

As for using the money I pay scorewatch for debt/balances,  I don't have any.

 

I have 4 major credit cards with a balance on 1 of them in the amount of $112.00 which is like 1.5% of that card. The others including Cap 1, Cap 1 and Barclay are at '0'.  I have 3 store cards that I only use every couple of months to keep active, but pay them off before statement date.

 

I was fortunate enough to purchase a new car in 2011 with cash (couldn't do it now), so I have no car payment.

 

Any medical collections I had, have all been paid off 4 or 5 months ago and all but 1 deleted. I have nothing bad left on my reports other than my chapter 13 which will reach 7 years in February 2014 and the accounts that were included in the Ch 13 which reach 7 years starting in July 2013.  As strange as it sounds, I kind of dread when the BK falls off and the associated accounts change to 'in good standing' because I will probably be REBUCKETED...........  

 

I knew better than to accept the Preapproval from Barclay but I just couldn't help myself.

 

I am very careful about putting a lot on a credit card.  I don't ever want to be in the position I was in when I filed chapter 13 in 2007.

 

So checking my credit reports and my fico scores, even my fako scores, is very important to me. 

 

I can't seem to get my TU score to move, but at some point,hopefully, it will go up a little.

 

I appreciate 'all' the responses and am so glad I found this forum.  I spend at least 1 hour per night checking out questions and answers.  I have learned a lot. So thanks to everyone.   

Homeowner Again as of July 17, 2014. Thanks NFCU
FICOs EQ - 670/EX - 702/TU - 696
Cap1 Q1 $3,500 / Cred 1 $2,025 / 1st Natl $2,250 Kohl's $5,000 / Barclay Rew $2,150 / Barclay SM MC $2,400 / NFCU Visa Sig Cash Rew $17k / Lowes $8,800 / Best Buy $4k / NFCU LOC $15k / Walmart MC $1,600 / Chase Freedom $1,500

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.