10-15-2007 02:17 PM
No, aging begins on both closed and open accounts when they are opened. This account opened in 01/06 would have an age (including our current month Oct 07) of 21 months and will continue to factor in average-age of account scoring until Mar 2016.
Rather accounts are open or closed, they are factored exactly same way when it comes down to average-age and credit length.
I'm a bit confused I guess. I was under the belief that once you close an account it stops aging. So if I were to have opened a new account in Jan-06 and closed it in Mar-06 then it's age would be 2 months as of today, not the 21 months that I would calculate by that statement.
10-15-2007 03:10 PM
fused wrote:No, aging begins on both closed and open accounts when they are opened. This account opened in 01/06 would have an age (including our current month Oct 07) of 21 months and will continue to factor in average-age of account scoring until Mar 2016.
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