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Did I get a bump because of AAoA (Color Green)

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taxi818
Super Contributor

Did I get a bump because of AAoA (Color Green)

Hello All. I have really been holding off and applying for anything lately because i was trying to understand the Effect of AAoA on my Score. Everytime i look around at different scoring models. I almost always have a F grade in the Catagory of AAoA. Current AAoA up until today was 11 months. With my Oldest account 22 months old.

So today I go to credit karma of course not for the scores and notice my AAoA has finally crossed over to the 1 year mark. Yippee. Was not sure if i would get a bump on my scores. Did not see anything change on Myfico as of yet. But anyways. I went to walmart to see if a score change has taken place and to my suprise. yep. My current Tranunion score according to my Signature is 733.

But according to walmart as of today. I broke the magic green line. Excited to see what happens to ex and eq. im sure not much of a bump but i will take it. I know nothing else on my report changed. in fact i got an inquiry yesterday for a hp on a Cli from Diners Club. This is the only reason i can think of for my score going up. I could be Wrong. I just can't understand fico scoring. Everytime i try. something like this happens. Smiley Wink

newfico818.PNG

Message 1 of 6
5 REPLIES 5
CreditDunce
Valued Contributor

Re: Did I get a bump because of AAoA (Color Green)

Do you have any closed accounts?  If so, then CK AAoA will not be accurate.  At least I am fairly sure CK only shows your AAoA for open accounts.

 

If you AAoA really did cross the 1 year mark, then I would expect you to gain at least a few points from that.  My understanding is you will gain points as your AAoA increases up to about 5 years.  After that you will still gain points for higher AAoA but not as many points.   In any case, congratulations on the score increase.

Message 2 of 6
taxi818
Super Contributor

Re: Did I get a bump because of AAoA (Color Green)


@CreditDunce wrote:

Do you have any closed accounts?  If so, then CK AAoA will not be accurate.  At least I am fairly sure CK only shows your AAoA for open accounts.

 

If you AAoA really did cross the 1 year mark, then I would expect you to gain at least a few points from that.  My understanding is you will gain points as your AAoA increases up to about 5 years.  After that you will still gain points for higher AAoA but not as many points.   In any case, congratulations on the score increase.


I have 2 closed accounts but that was over a year ago. I have not closed anything recently. I have been watching my AAoA for the last few months and this should be correct. Also went to experian and it also has my AAoA at 1 year now. But i don't see a bump in score yet since this just happened today. Thanks. So you are saying 1 year there is a small point increase? because honestly i thought it would happen at 2 years. So im hoping monthly now i will see gains in that. As before today. according to fico. I was getting 0 points in the AAoA catagory.

Message 3 of 6
Revelate
Moderator Emeritus

Re: Did I get a bump because of AAoA (Color Green)


@taxi818 wrote:

@CreditDunce wrote:

Do you have any closed accounts?  If so, then CK AAoA will not be accurate.  At least I am fairly sure CK only shows your AAoA for open accounts.

 

If you AAoA really did cross the 1 year mark, then I would expect you to gain at least a few points from that.  My understanding is you will gain points as your AAoA increases up to about 5 years.  After that you will still gain points for higher AAoA but not as many points.   In any case, congratulations on the score increase.


I have 2 closed accounts but that was over a year ago. I have not closed anything recently. I have been watching my AAoA for the last few months and this should be correct. Also went to experian and it also has my AAoA at 1 year now. But i don't see a bump in score yet since this just happened today. Thanks. So you are saying 1 year there is a small point increase? because honestly i thought it would happen at 2 years. So im hoping monthly now i will see gains in that. As before today. according to fico. I was getting 0 points in the AAoA catagory.


I didn't see a point increase at 1 year, but I wasn't looking for it either.  Did get one at 2 years, might have gotten one at 3 years will have to see once new tradelines start reporting, if I did I expect one out of the 3 or 4 to drop me some amount and that would be a result of AAOA in my experience.

 

Don't know what FICO reference you refer to, as frankly none of the 3rd party interfaces including FICO Consumer is 100% accurate for the FICO algorithm.




        
Message 4 of 6
CreditDunce
Valued Contributor

Re: Did I get a bump because of AAoA (Color Green)

When you are calculating your AAoA you need to include your closed accounts.  All of you trade lines on your report count for AAoA, no matter how long ago they were closed.  CreditKarma only uses your open accounts for AAoA calculations.  If you have a Mint account you can compare that AAoA calculation for EQ to CK's calculation.  Mint will probably have a slightly higher EQ AAoA than CK.

 

PS. I am not sure if Mint is 100% accurate for AAoA, either.  It doesn't exactly match what my spreadsheet shows, but it is fairly close.

Message 5 of 6
taxi818
Super Contributor

Re: Did I get a bump because of AAoA (Color Green)


@CreditDunce wrote:

When you are calculating your AAoA you need to include your closed accounts.  All of you trade lines on your report count for AAoA, no matter how long ago they were closed.  CreditKarma only uses your open accounts for AAoA calculations.  If you have a Mint account you can compare that AAoA calculation for EQ to CK's calculation.  Mint will probably have a slightly higher EQ AAoA than CK.

 

PS. I am not sure if Mint is 100% accurate for AAoA, either.  It doesn't exactly match what my spreadsheet shows, but it is fairly close.


Ok. im going to see if i can find a calculator that will figure it out for mehttp://seemly.com/aaoa-calculator/

 

Message 6 of 6
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