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Once and for all - Do COLLECTION ACCOUNTS affect AAofA??

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Anonymous
Not applicable

Once and for all - Do COLLECTION ACCOUNTS affect AAofA??

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?  

Message 1 of 11
10 REPLIES 10
Anonymous
Not applicable

Re: Once and for all - Do COLLECTION ACCOUNTS affect AAofA??

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.

Message 2 of 11
gdale6
Moderator Emeritus

Re: Once and for all - Do COLLECTION ACCOUNTS affect AAofA??

Fico only looks for open/closed OC accounts for AAoA all other types of accounts are not included.

Message 3 of 11
Anonymous
Not applicable

Re: Once and for all - Do COLLECTION ACCOUNTS affect AAofA??

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.

Message 4 of 11
Anonymous
Not applicable

Re: Once and for all - Do COLLECTION ACCOUNTS affect AAofA??

Rosseau thank you. But can you please explain this rebucketing thing ?? It's so confusing
Message 5 of 11
Anonymous
Not applicable

Re: Once and for all - Do COLLECTION ACCOUNTS affect AAofA??

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.

Message 6 of 11
lhcole77
Valued Contributor

Re: Once and for all - Do COLLECTION ACCOUNTS affect AAofA??


@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

 

 

Message 7 of 11
Anonymous
Not applicable

Re: Once and for all - Do COLLECTION ACCOUNTS affect AAofA??

You guys are great. This info is amazing. I only wish we had definitive proof you these score cards existence from FICO !!!

Here's hoping and knowing lol that my score of 632 will rapidly grow now with no COLLECTIONS left to 680!!!!! :-). Maybe a Christmas gift ?
Message 8 of 11
lhcole77
Valued Contributor

Re: Once and for all - Do COLLECTION ACCOUNTS affect AAofA??

OMGosh. Yes, let's hope for that. My scores skyrocketed after my reports were 100% clean. IIRC, EX jumped 125pts!

Message 9 of 11
Anonymous
Not applicable

Re: Once and for all - Do COLLECTION ACCOUNTS affect AAofA??

Ugh I wish. I only have the FP charge off which will be off in 6 months. I'm good wiling cap one a million ways to Tuesday lol so we'll see. I am coming out of my skin trying to get my scores above 680!!! What is IIRC also ?

I truly wish someone here could wave a wand and make my FP CO go away
Message 10 of 11
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