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sidewinder wrote:Ok, I read through some past postings about this and am still confused.1) The longer the average age, the better, right? Yes.2) Do you simply add up how long each account has been opened and then divide by total of accounts? Yes, easiest to do using months -- 15 months, 27 months, 145 months and divide by three.3) Let's say you opened an account 05/2005 and closed it 08/2005, do you add 3 months for that account's age or add 3 years? Or none of the above? 36 months.4) Pubilc records and collections do not count, but charge-offs do? I think you're correct, but this is just gut instinct.
PRs and collections never factor in credit history length or average-age of accounts. CO's, repos and foreclosures can factor in only if they are being reported as a derog TL.
sidewinder wrote:
4) Pubilc records and collections do not count, but charge-offs do?