Factoring age into scoring?

[Anonymous]

Hi everybody, I've read the forums here for awhile, thought I would go ahead and start posting! After getting up to speed on some things I've read here, I went ahead and signed up for ScoreWatch. Right now it shows my Equifax at 712! I know it's a pretty good score, but my biggest detractors seem to be average age of account and short credit history. My question is... Considering I am only 21 years old, how long will I typically have to wait until I see a dramatic improvement (20-30+ points) in those areas? It seems in order to be a "high achiever" I need to be in my 40s. This might have something to do with the "bucket" system I'm still not familiar with. Thanks everyone for your helpful insights.

[Anonymous]

Yep- your in a new to credit bucket.
Keep the UTL down, never be late, don't apply for credit you don't need, and you will be GOLDEN.

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@Anonymous wrote:
Hi everybody, I've read the forums here for awhile, thought I would go ahead and start posting! After getting up to speed on some things I've read here, I went ahead and signed up for ScoreWatch. Right now it shows my Equifax at 712! I know it's a pretty good score, but my biggest detractors seem to be average age of account and short credit history. My question is... Considering I am only 21 years old, how long will I typically have to wait until I see a dramatic improvement (20-30+ points) in those areas? It seems in order to be a "high achiever" I need to be in my 40s. This might have something to do with the "bucket" system I'm still not familiar with. Thanks everyone for your helpful insights.

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[MidnightVoice]

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mrchase928 wrote:
Hi everybody, I've read the forums here for awhile, thought I would go ahead and start posting! After getting up to speed on some things I've read here, I went ahead and signed up for ScoreWatch. Right now it shows my Equifax at 712! I know it's a pretty good score, but my biggest detractors seem to be average age of account and short credit history. My question is... Considering I am only 21 years old, how long will I typically have to wait until I see a dramatic improvement (20-30+ points) in those areas? It seems in order to be a "high achiever" I need to be in my 40s. This might have something to do with the "bucket" system I'm still not familiar with. Thanks everyone for your helpful insights.

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If you do everything right I would expect an increase very time your average account age gets a year older.  Age is one thing that there is little we can do about!

[jackg]

mrchase928,

Based on your EQ FICO score you are excercising good decision making skills, all you need to add to your efforts is, "PATIENCE".

Good Luck to ya'