Reply
Established Contributor
Posts: 1,521
Registered: ‎11-21-2013
0

FICO Age of Accounts?

When applying for Credit, how does the issuer determine the Average Age of Accounts? Do they go by FICO? or by the actual date opened?

 

For Example: FICO TU and FICO EQ have me at 8 months average age of accounts, but the FAKO's have me at 7 months. I realize FICO goes by the month opened, not the actual date to a tee. Thanks

Valued Contributor
Posts: 1,794
Registered: ‎07-01-2010
0

Re: FICO Age of Accounts?

It seems like there are three distinct items here -- (1) a credit report, (2) a score, and (3) a package of information reported by a CMS.

 

An AAoA calculation can be done by looking at a report.

 

What is actually reported for AAoA varies, for example based on whether closed accounts are included or not.  There may also be differences in rounding.

 

An issuer can use any AAoA scheme they wish, that may or may not match what is used for FICO scoring.

 

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.