02-07-2013 10:50 AM
Hello. Sorry to revive an old forum here but I had a question about the topic.
The general consensus among veterans here tends to be that a TL has its age calculated from the date of opening through to todays date REGARDLESS OF WHEN YOU CLOSED THE ACCOUNT. That sounds like good news to me, since it means it doesnt really matter if I close my travel hacking credit cards a month after I get the reward. Yes, I know then that means the max they can age to is 10 years, plus however long i had them open, and yes I know all about credit utilization, thats not in question here.
My question is, is there any official statement/terms/conditions that state this is the way TL age is calculated (namely from date of opening to todays date VERSUS date of opening to date of closing)? The myFICO summary on age limit simply points to the forums but what people say here is not officially sanctioned. Is there some officially sanctioned literature that states this as the case? Not saying I dont believe you guys, but its hard to believe what you hear about credit now adays since everybody seems to have their own idea of what hurts your credit and what doesnt (and there is even disagreement within this thread itself)!
To expand on what JM-AM said, it is based on the open date through today and includes ALL OC accounts, whether opened or closed, good or bad. We know this as fact because AAoA is listed on the FICO report for most people (not all). It'll be listed on pages 2 or 3 of your FICO report. It is based on every account listed within the Accounts page. You can do the math to verify the number. And as many of us have done, you can track it over time and see that number change as accounts age, drop or are added.
The Admin who set up the FICO forums is no longer here but when he was he was a stickler on correct information being passed back and forth. There are certainly a fair number of psots within these forums with incorrect statements. Likely some of mine fall within that. Typically we see a change and assume that X causes Y and therefore we post that as fact. However, as learned in logic, what's true of the parts isn't true of the whole and many in here apply what they experienced in FICO scoring as a blanket statement for all. In other words, I can see your concern. That Admin would privately and publicly feed us info relating to FICO scoring not found elsewhere in the internet, and would always take time to back it up with examples as needed. I've been on here for a few years and read most of the posts in here and most of what is said is spot on.