MidnightVoice wrote:From MyFico:FICO High Achievers have credit scores of 760 or above.FICO High Achievers opened their most recent account 27 months ago, on averageFICO High Achievers opened their oldest account 19 years ago, on average.Most FICO High Achievers have an average age of accounts between 6 and 12 years.For FICO High Achievers the ratio of revolving balances to credit limits is 7%, on average.FICO High Achievers opened their first revolving account 19 years ago, on average.
By the look of my previous post you are on the cusp of a drop due to age
I don't believe that we have discussed average age in this way yet.
What do you think is the lowest average age that we can drop to before we start to see a score drop? Or do you think it is 1 or 2 points per year up to 10 years? I want to open several new accounts, but don't want to hurt my score too much in the process relating to loss of average age. Right now I am at 6.5 years for my average age. I have not noticed a score drop from 8 years to 6.5 with the addition of my new history. But how much further can I push it before average starts to do some hard damage?
Then their is an advantage of having "lots and lots" of credit cards to keep up the age in the long run.
MidnightVoice wrote:If age lowers dramatically it will presumably because either a bunch of account go away (unusuual) or because someone got half a dozen new cards all at one. In the latter case the inqus and new credit would be a big hit, so it would be difficult to say what is what.Best course of action - only get one new card every 6 years to keep average up