Reply
New Contributor
Posts: 51
Registered: ‎05-13-2011
0

average age of accounts

Hey everyone,

 

Is there an average age of accounts that gives a person the "max" score for that part of their credit score?  I have an average 5 of five years, and SW rates me as "good" in that category.  Does my average age need to hit 10 years before it will be considered "Great?"


Thanks!

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: average age of accounts

[ Edited ]

I don't think there's a max, because the FICO formula isn't linear. Because of scoring buckets, one person might have a VG or Great at 10 yrs but another might be only Good at 10 years. It would depend on other factors in your credit report in relation to others' credit. Now the Length of Credit History encompasses AAoA but it also includes the overall length of history, the length of your longest revolving TL, the length of your longest installment TL, and so on.

 

ETA...both EQ and TU list my AAoA at 3 yrs and the overall length of history at 10 yrs 2 months. Early in the year EQ was also at Good with a 14 yr 1 month history and a 4 yr AAoA (before my oldest fell off).

 

 

New Contributor
Posts: 51
Registered: ‎05-13-2011
0

Re: average age of accounts

Great explanation.  Thank you very much.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.