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Regular Contributor
Posts: 197
Registered: ‎06-08-2011
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Average age of accounts AAOA

What does Fico see as the optimal average age of accounts? '

 

 

-TBC

AUDE VIDE TACE :
Starting Score: 684
Current Scores: EQ 796 TU 794 EX 750 (All lender pulls on 2/9/12)
Goal Score: 800 all 3
Moderator Emeritus
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Registered: ‎08-04-2007
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Re: Average age of accounts AAOA

My FICO report says 6 to 12 years in terms of high achievers. My EQ shows an AAoA as 3 years and is listed as a positive and TU lists as a negative, but that's based off my buckets on both reports.

Regular Contributor
Posts: 197
Registered: ‎06-08-2011
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Re: Average age of accounts AAOA

[ Edited ]

I'm trying to figure out what kind of a hit I'm going to take when the new CC hits my reports bringing my AAOA  down to 4.8 years.

 

 

-TBC

 

AUDE VIDE TACE :
Starting Score: 684
Current Scores: EQ 796 TU 794 EX 750 (All lender pulls on 2/9/12)
Goal Score: 800 all 3
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Registered: ‎07-14-2009
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Re: Average age of accounts AAOA


To-Be-Continued wrote:

I'm trying to figure out what kind of a hit I'm going to take when the new CC hits my reports bringing my AAOA  down to 4.8 years.

 

 

-TBC

 



Since FICO rounds down AAoA for scoring as long as your old AAoA was also less than 5 years you won't be hurt at all.

 

Do you know what the old AAoA happened to be?

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Regular Contributor
Posts: 197
Registered: ‎06-08-2011
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Re: Average age of accounts AAOA

5.6 years over 6 accounts.

AUDE VIDE TACE :
Starting Score: 684
Current Scores: EQ 796 TU 794 EX 750 (All lender pulls on 2/9/12)
Goal Score: 800 all 3
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Re: Average age of accounts AAOA


To-Be-Continued wrote:

5.6 years over 6 accounts.


Then you'll lose a year of AAoA unfortunately.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Super Contributor
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Re: Average age of accounts AAOA

I've been meaning to ask a question about AAoA but always forget.

 

If I get a card today, will it be counted as 1 year or 0 year? I'm assuming 0 until the next year when it turns one.




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Re: Average age of accounts AAOA


CS800 wrote:

I've been meaning to ask a question about AAoA but always forget.

 

If I get a card today, will it be counted as 1 year or 0 year? I'm assuming 0 until the next year when it turns one.


I think that is correct, if it reported soon after your first statement it would be 1 month old.....  0 years, 1 month....

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
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Re: Average age of accounts AAOA


pizzadude wrote:

CS800 wrote:

I've been meaning to ask a question about AAoA but always forget.

 

If I get a card today, will it be counted as 1 year or 0 year? I'm assuming 0 until the next year when it turns one.


I think that is correct, if it reported soon after your first statement it would be 1 month old.....  0 years, 1 month....


I agree with this. Each individual account is counted month to month but AAoA itself can never be younger than 1 year. Does that make sense?

 

I recently posted about this. Someone had asked if it's possible to have an AAoA of zero and I found out that the brains behind the formulas were careful so that AAoA is always at least one year. So theoretically you could have one new account just one month old but your AAoA would be one year.

 

Have I confused everyone?

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Regular Contributor
Posts: 197
Registered: ‎06-08-2011
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Re: Average age of accounts AAOA

So in 4 months my AAOA should be back to 5 years? Or do I have to wait until it hits one year? I will also post what if any point hit I take when it reports next month.

 

 

-TBC

AUDE VIDE TACE :
Starting Score: 684
Current Scores: EQ 796 TU 794 EX 750 (All lender pulls on 2/9/12)
Goal Score: 800 all 3

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