Oldest account and average age of accounts

[teton]

My EQ score is almost 40 points lower than my TU score. I'm trying to figure out why there is such a difference. The same accounts appear on both and look like they are reporting the same. The analysis of my EQ account says my score is being hurt by a short credit history. My oldest account is over 10 years and the average age of accounts is 4 years. I didn't realize this would be considered a short credit history. I had lost my job almost ten years ago and was piecing together part-time work for the next five years while I went back to school so I had to close down accounts. I wasn't able to open new accounts for quite some time. What would be considered a good length of time for oldest account or age of accounts?

[haulingthescoreup]

These messages can get pretty funny. I get a negative for short history and a positive for long revolving history --same history.

Sounds like they're saying that your AAoA is low. Time, and not opening any new accounts, will fix that.

Are you getting any other negative comments? If not, then in fact you're in pretty good shape, and the formula is scraping the bottom of the barrel to find things to grump about.


eta: it will probably help when your AAoA hits 5 years. There are lots of little "tiers" of ages, so think of a series of steps in your length of history.

Message Edited by haulingthescoreup on 02-28-2009 04:18 PM