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How does FICO calculate the average age of accounts?

Moderator Emeritus

Re: How does FICO calculate the average age of accounts?



MidnightVoice wrote:
Is the "age" of an account the number of years it was open?



I would assume the number of months is considered as well. Can't say for sure though.
Message 11 of 19
Senior Contributor

Re: How does FICO calculate the average age of accounts?



Tuscani wrote:

I believe it's simply the age of each account divided by the number of accounts (regardless if they are open or closed).




You sure? LOL.
Message 12 of 19
Moderator Emeritus

Re: How does FICO calculate the average age of accounts?



smallfry wrote:


Tuscani wrote:

I believe it's simply the age of each account divided by the number of accounts (regardless if they are open or closed).




You sure? LOL.

Let me check....
 
 
 
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processing..
 
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YES!
Message 13 of 19
Super Contributor

Re: How does FICO calculate the average age of accounts?

Then why does one missing account on EX, whch changes the average age of my accounts by reducing the average age 3 months, cause EX to say I have a short credit history whereas the other two say I am in the great to fabulous range?


Message Edited by MidnightVoice on 06-29-2007 01:46 PM
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 14 of 19
Senior Contributor

Re: How does FICO calculate the average age of accounts?



MidnightVoice wrote:
Then why does one missing account on EX, whch changes the average age of my accounts by reducing the average age 3 months, cause EX to say I have a short credit history whereas the other two say I am in the great to fabulous range?


Message Edited by MidnightVoice on 06-29-2007 01:46 PM


Is this from Truecredit?
Message 15 of 19
Super Contributor

Re: How does FICO calculate the average age of accounts?



smallfry wrote:


MidnightVoice wrote:
Then why does one missing account on EX, whch changes the average age of my accounts by reducing the average age 3 months, cause EX to say I have a short credit history whereas the other two say I am in the great to fabulous range?


Message Edited by MidnightVoice on 06-29-2007 01:46 PM


Is this from Truecredit?

No
 
No

 

NO

It is a FICO  Smiley Very Happy
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 16 of 19
Moderator Emeritus

Re: How does FICO calculate the average age of accounts?



MidnightVoice wrote:
Then why does one missing account on EX, whch changes the average age of my accounts by reducing the average age 3 months, cause EX to say I have a short credit history whereas the other two say I am in the great to fabulous range?


Message Edited by MidnightVoice on 06-29-2007 01:46 PM

Are your reports otherwise identical?
Message 17 of 19
Super Contributor

Re: How does FICO calculate the average age of accounts?



Tuscani wrote:


MidnightVoice wrote:
Then why does one missing account on EX, whch changes the average age of my accounts by reducing the average age 3 months, cause EX to say I have a short credit history whereas the other two say I am in the great to fabulous range?


Message Edited by MidnightVoice on 06-29-2007 01:46 PM

Are your reports otherwise identical?


None of them are identical  Smiley Very Happy
 
But in essence, in terms of average length of accounts, yes. It is probably just MyFICO or EX thinking up another excuse to keep my EX score low.  Smiley Happy
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 18 of 19
Highlighted
Moderator Emeritus

Re: How does FICO calculate the average age of accounts?



MidnightVoice wrote:


Tuscani wrote:


MidnightVoice wrote:
Then why does one missing account on EX, whch changes the average age of my accounts by reducing the average age 3 months, cause EX to say I have a short credit history whereas the other two say I am in the great to fabulous range?


Message Edited by MidnightVoice on 06-29-2007 01:46 PM

Are your reports otherwise identical?


None of them are identical  Smiley Very Happy
 
But in essence, in terms of average length of accounts, yes. It is probably just MyFICO or EX thinking up another excuse to keep my EX score low.  Smiley Happy


Yea.. I am not sure what else it could be. Leave it to EX to keep the man down.
 

 
Message 19 of 19