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i'm told yes by some, no by others -- do collections affect AAofA? I had a medical collection recently fall off and saw a 10 pt drop! Im still trying to see why -- but does anyone know for sure the answer to this? Are COL accounts figured in to Average Age?
I think I've seen credit sesame or some site count them. Fico definitely doesnt. My aaoa is like 4.5 years according to sesame because of two pif collections but really my aaoa is .8 according to fico lol.
Fico only looks for open/closed OC accounts for AAoA all other types of accounts are not included.
No, collections do not count towards AAoA in the FICO scoring system.
Your ten point drop was likely due to being rebucketed when the collection dropped off. The other reason for a drop would be if something else in your credit profile changed.
Hi JoeyZ. Here is a thread where a guy asked whether he had been the object of "re-bucketing" by FICO. I wrote him a long response (second post in the thread) that explained what people mean when they use that phrase.
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Did-I-get-rebucketed/m-p/4162447#M97363
The discussion later develops in an interesting way with TomThumb and others offering some very reasonable guesses as to how FICO determines what the various buckets are for people with no derogs.
Let me know if that helps.
@Anonymous wrote:
Rosseau thank you. But can you please explain this rebucketing thing ?? It's so confusing
This should help
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Re-bucketing/td-p/1434216
OMGosh. Yes, let's hope for that. My scores skyrocketed after my reports were 100% clean. IIRC, EX jumped 125pts!