Lowest possible AAoA with score over 800?

[Anonymous]

In my sig is a link to my credit spreadsheet that lets you play with your current and AAoA calculations.

[newhis]

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@Anonymous wrote:
 

So was the inquiry 11 months old and the account (assuming approval) also 11 months old associated with it?  If that's the case, did the inquiry and account hit the 1 year mark at the same time?  If so, points could have been received both for the inquiry becoming unscoreable as well as AoYA reaching 1 year rather than being < 1 year, right?

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Yes, there was a inquiry in EX not in TU, that's why I guess the score difference was for that, but the change on EX 2 weeks later could be for any of the 2 factors (inquiry/account 1 year). The 800 EX FICO date was after the 1 year mark (app date).

BTW EQ FICO was 802 when TU FICO hit 800.

[Anonymous]

1 year AAoA is enough for 800+ FICO-8 score

[Anonymous]

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@NRB525 wrote:

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To state it it more clearly, someone over 800 who insisted on app sprees of even 10 new accounts would most certainly see a significant score hit to the mid-700's, from both the INQ and once the new accounts began reporting. 

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Not enough information here to really say for sure.  It's possible that the score drop could be minimal.  If this person already had 12+ inquiries, for example, taking on 10 new inquiries or even 100 new inquiries wouldn't impact their score at all [from the inquiries] because they'd already be taking the maximum penalty from number of inquiries to where adding more wouldn't have an adverse impact.  Second, the new accounts reporting may not significantly impact AAoA.  If AAoA is already very high, say 10 years and adding 10 new accounts to a thick file drops it to 8 years, there is no scoring benefit AAoA wise between 8 years and 10 years, so from the AAoA drop this person would see zero scoring drop.  The "new accounts" (AoYA drop) could lower score some, but again if this person had opened a new account 3 months ago, their AoYA dropping from 3 months to 0 months would also be meaningless. 

The point here is that while someone with over a 800 score could see a score drop to the mid-700's from a spree, it's also perfectly possible that they'd see very little score drop at all depending on where they stand both pre/post spree with respect to the factors mentioned above.

[jamie123]

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@Anonymous wrote:

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@NRB525 wrote:

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To state it it more clearly, someone over 800 who insisted on app sprees of even 10 new accounts would most certainly see a significant score hit to the mid-700's, from both the INQ and once the new accounts began reporting. 

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Not enough information here to really say for sure.  It's possible that the score drop could be minimal.  If this person already had 12+ inquiries, for example, taking on 10 new inquiries or even 100 new inquiries wouldn't impact their score at all [from the inquiries] because they'd already be taking the maximum penalty from number of inquiries to where adding more wouldn't have an adverse impact.  Second, the new accounts reporting may not significantly impact AAoA.  If AAoA is already very high, say 10 years and adding 10 new accounts to a thick file drops it to 8 years, there is no scoring benefit AAoA wise between 8 years and 10 years, so from the AAoA drop this person would see zero scoring drop.  The "new accounts" (AoYA drop) could lower score some, but again if this person had opened a new account 3 months ago, their AoYA dropping from 3 months to 0 months would also be meaningless. 

The point here is that while someone with over a 800 score could see a score drop to the mid-700's from a spree, it's also perfectly possible that they'd see very little score drop at all depending on where they stand both pre/post spree with respect to the factors mentioned above.

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Yes, I agree with you 100% BrutalBodyShots. That's why I think it is very important to get and maintain 5 to 8 quality credit cards as soon as you can. Once you have these cards and your AAoA hits 5 years, you have very little to worry about. Once these cards are about 10 years old, you have nothing to worry about because your scores will be very stable/bulletproof.

[xenon3030]

Based on EX, 10% of Fico8 score is based on the amount of new credit (inquiries, age of youngest account). This should usually the main part to prevent Fico to reach 800. I do not know the percentage of each contribution but I think, having no inquiry within a year and having the youngest age of >1y can help to get the major part of this 10%.

Based on EX, 15% of Fico8 is based on the length of credit history (AAoA and also age of oldest account). Having AAoA>2y should possibly help to get the most of this part but not sure about the approximate amount.

So, based on these discussions, having AAoA>2y, yougnest age>1y, no inqury within a year should lead a 800+ score

[Anonymous]

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@xenon3030 wrote:

Based on EX, 10% of Fico8 score is based on the amount of new credit (inquiries, age of youngest account). This should usually the main part to prevent Fico to reach 800. I do not know the percentage of each contribution but I think, having no inquiry within a year and having the youngest age of >1y can help to get the major part of this 10%.

Based on EX, 15% of Fico8 is based on the length of credit history (AAoA and also age of oldest account). Having AAoA>2y should possibly help to get the most of this part but not sure about the approximate amount.

So, based on these discussions, having AAoA>2y, yougnest age>1y, no inqury within a year should lead a 800+ score

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Maximum score achievement for AAoA is said to exist at 7 years and 8 months.  Anything over that is gravy, but anything less than that means in theory you aren't maximizing the amount of points you can get from AAoA.  2 years is significantly less than that.  There would be multiple thresholds between 2 years AAoA and 7 years 8 months AAoA.  Where they are, I'm not sure. 

[Anonymous]

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@xenon3030 wrote:

Based on EX, 10% of Fico8 score is based on the amount of new credit (inquiries, age of youngest account). This should usually the main part to prevent Fico to reach 800. I do not know the percentage of each contribution but I think, having no inquiry within a year and having the youngest age of >1y can help to get the major part of this 10%.

Based on EX, 15% of Fico8 is based on the length of credit history (AAoA and also age of oldest account). Having AAoA>2y should possibly help to get the most of this part but not sure about the approximate amount.

So, based on these discussions, having AAoA>2y, yougnest age>1y, no inqury within a year should lead a 800+ score

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Here's an example of AAoA=1y, and AoYA=0 days, while 800+ FICO8 score:

-1 car loan --2yo (they pulled 3 bureaus)
-CC-1 --3yo, CL today is 5K (from your bank, they pulled EX only)

-CC-2 --1yo, CL 9K (from PenFed CU, they pulled only EQ)
-CC-3 --1yo, CL 5K (from Barclays, they pulled only TU)
-CC-4 --1yo, CL 5K (from Amex, they pulled only EX)

-CC-5 --new, CL 10K (some other CU, pulled only EQ)
-CC-6 --new, CL 10K (Commerce Bank Drury Hotels card, HP TU)
-CC-7 --new, CL 10K (another PenFed CU, HP EQ)

So,
-HP's = 2 on EX, 3 on TU, 4 on EQ
-Total open accounts = 8, 1 installment, 7 revolving
-AAoA = 1 year 0 months
-AoOA = 3 years 0 months

-AoYA = 0 months
-Total revolving CL currently = 44K
-Used in revolving = 0% (we assume you PIF)
-We assume that you made 10K advanced payments on your installment car loan, and therefore there's less than 25% pending
-No negatives whatsoever.

Considering this example, your score from EX and TU would be guaranteed 800+ FICO8, and as you know Experian is the most used/pulled bureau. EQ score would be also around 800, maybe 800+ too.

[Anonymous]

Here's an example of AAoA=1y, and AoYA=0 days, while 800+ FICO8 score:

-1 car loan --2yo (they pulled 3 bureaus)
-CC-1 --3yo, CL today is 5K (from your bank, they pulled EX only)

-CC-2 --1yo, CL 9K (from PenFed CU, they pulled only EQ)
-CC-3 --1yo, CL 5K (from Barclays, they pulled only TU)
-CC-4 --1yo, CL 5K (from Amex, they pulled only EX)

-CC-5 --new, CL 10K (some other CU, pulled only EQ)
-CC-6 --new, CL 10K (Commerce Bank Drury Hotels card, HP TU)
-CC-7 --new, CL 10K (another PenFed CU, HP EQ)

So,
-HP's = 2 on EX, 3 on TU, 4 on EQ
-Total open accounts = 8, 1 installment, 7 revolving
-AAoA = 1 year 0 months
-AoOA = 3 years 0 months

-AoYA = 0 months
-Total revolving CL currently = 44K
-Used in revolving = 0% (we assume you PIF)
-We assume that you made 10K advanced payments on your installment car loan, and therefore there's less than 25% pending
-No negatives whatsoever.

Considering this example, your score from EX and TU would be guaranteed 800+ FICO8, and as you know Experian is the most used/pulled bureau. EQ score would be also around 800, maybe 800+ too.

[Anonymous]

Is that illustration in the above post a hypothetical, or is it an actual profile?