Two cards opened in the same year. AAoA hit?

[ficonightmare]

Quick question.

Just opened up a new card. It already reported to EX.

My youngest  card prior to this one was opened in March of this year. I was thinking that since AAoA is rounded down, I shouldn't take a hit as both cards were opened in the same year with a 9 month difference. Am I wrong?

[MarineVietVet]

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@ficonightmare wrote:

Quick question.

Just opened up a new card. It already reported to EX.

My youngest  card prior to this one was opened in March of this year. I was thinking that since AAoA is rounded down, I shouldn't take a hit as both cards were opened in the same year with a 9 month difference. Am I wrong?

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The only way you'll know for sure is run the numbers. As you said AAoA is rounded down for scoring so if you stay within a certain range you'll be fine. For example any AAoA between 6 years and 6 years 11 months is scored as 6 years. There might be someone with an exception but this rule of thumb seems to work for most.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[ficonightmare]

thanks, marine.

Math was never my strong point .. but if i do the numbers (and it may very well be incorrect), i shouldn't take a hit.

the fico score simulator shows TU and EQ can go plus or minus 10 points. I have a feeling it's going to affect my utility % more which is a good thing in the short term.

but as i don't know the details of FICO scoring, what makes sense me probably doesn't to FICO.

[MarineVietVet]

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@ficonightmare wrote:

thanks, marine.

Math was never my strong point .. but if i do the numbers (and it may very well be incorrect), i shouldn't take a hit.

the fico score simulator shows TU and EQ can go plus or minus 10 points. I have a feeling it's going to affect my utility % more which is a good thing in the short term.

but as i don't know the details of FICO scoring, what makes sense me probably doesn't to FICO.

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My thoughts exactly! 

BTW do you know how AAoA is calculated?

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[ficonightmare]

I take a short cut- Count the years on all my accounts then divide by 12..

I hope I'm not too off by doing it this way..

eta: that's not how I do it.. need to think here for a few minutes.. lol

just did the math, i add all my years and divide it into the number or accounts I have showing. my AAoA is 8.2, FICO shows 8 years on EQ.

[ficonightmare]

Just got a Scorewatch alert a minute ago.

BoA reported the new account. EQ score remains unchanged. They didn't report the CL though!! Don't understand why not as they reported it to EX. . I was hoping it would lower my utilization for the next month.  Holiday spending killed me this year..

eta: So I pulled TU. Score went up 6 points. End result is no impact on EQ, and TU went up because my UTIL went down 2%.

[MarineVietVet]

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@ficonightmare wrote:

I take a short cut- Count the years on all my accounts then divide by 12..

I hope I'm not too off by doing it this way..

eta: that's not how I do it.. need to think here for a few minutes.. lol

just did the math, i add all my years and divide it into the number or accounts I have showing. my AAoA is 8.2, FICO shows 8 years on EQ.

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It looke like you did it correctly.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[ficonightmare]

Marine- I don't include any years for accounts under a year (like 6 months old), but i inculde them when dividing the total number of years. It's worked with TU and EQ.

I guess the correct way to do it is add the total months on each account but that would take me forever.

[MarineVietVet]

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@ficonightmare wrote:

Marine- I don't include any years for accounts under a year (like 6 months old), but i inculde them when dividing the total number of years. It's worked with TU and EQ.

I guess the correct way to do it is add the total months on each account but that would take me forever.

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I see. Well you'll want to be as accurate as possible.

Your AAoA is the sum of the ages of every account (except CA collections) on your report, whether open or closed, calculated in months, divided by the number of accounts and then divided by 12. I use the division by 12 to make it easier to convert into years. This is measured from the time each account was opened until present.

You’ll need to figure the age of each account, open or closed, on each report. If all three reports are identical (very unlikely), you're in luck; otherwise, you'll need to run this for each report.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[ficonightmare]

Yep, that's what I was afraid of..

I'll do the correct way on Sunday and the see how close or far my shortcut version is.