Simplest Way to Calculate AAoA Now and Future 2 Steps

[Anonymous]

So if you're like me I wanted to know the quickest and painless way to calculate your AAoA, here's a quick tip. I dont like reading (alot) so I can't stand to read any more than 3-4 paragraphs Anyhow, I wanted to really know my score so here's what I did. I also wanted to check how my new app spree with 7 new accounts that will be reporting will affect my overall AAoA.

2 simple steps:

1.) I went to CK (Credit Karma) and check my Aging History (for the others that knows better please chime in I dont take offense I only gathered this from what I learned). It shows you all of your OPEN account. Mine will say So and So. - 19 years 9 months, Next 18 years 7 months... etc... down to the last. 

2.) Open an Excel Spreadsheet, For the YEARS, put it on the first column (A), and for the Month on second column(B). For C will be your formula which is =(A1*12)+B and drag it down to the very last item on your sheet. So if you have 10 reporting then you will drag your forumal til row 10. On Row 11 you will get your Total number of Months,

With that total divide that by 12 and divide that by how many accounts you have (for me was 10 example) so mine was like 2060 (total months) / 12 (for a year) and then whatever you get divide it by the number of account = that will give you your current AAoA. 

I wanted to see how my 7 new accounts will affect mine... so for me before my App Spree my AAoA was 15 years and 5 months but after adding my 7 new account that are all 1 month old. My AAoA dropped down to 9 years and 5 months. I played around with it and adding year on the first column and check ... I think as long as your AAoA is over 9 years you get your AAoA full %.  

I could be way way wrong with this - because I'm not sure if CLOSED account is put in the factor but if it is, then do the same thing and take the year/month of the close in your spreadsheet. 

[CreditDunce]

I do something similar with my spreadsheet.  I all of my TL's listed with their open dates.   It is then trivial to calculate each TL's age in months and years.  I get a little cute by using conditional formatting to color accounts with ages less 6 months red, 1 year orange and less than 2 years blue.  One of the other fields I have for each TL is on which CRA's they are reported on.   For each CRA I then calculate the AAoA.   I also calculate the expected AAoA if I add +1 through +5 TLs using the formulae (AAoA * # of TLs) / (TLs + additional TLs). 

To figure out what my AAoA in the future I change the date on my PC.  If I have a closed account that may be dropped from a CRA, I just add a column with that TL removed from the formula.

Note: the AAoA FICO uses includes closed and open TLs.  TLs = Trade Lines.

[RonM21]

I also have a spreadsheet that holds all of this info and calculates it for me, as well as all of the other important info on my cards.