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(not) understanding this "hurting" item


(not) understanding this "hurting" item

Can anyone help me make sense of this?


As long as I can remember, I've gotten this as a "hurting your credit score" item:


"You have a short credit history."


Then Suze's Platinum kit provides these details:


Your oldest account was opened
39 Years, 9 Months ago

FICO High Achievers opened their oldest account 19 years ago, on average.


Average age of your accounts
7 years

Most FICO High Achievers have an average age of accounts between 6 and 12 years.



what's up with that?



Message 1 of 3
Moderator Emerita

Re: (not) understanding this "hurting" item

My guess would be that the formula thinks that for someone with such a long overall history, your AAoA ought to be higher.

I get the same thing: 19y 10m for longest, but something like 4y 10m AAoA. It doesn't like having my history so weighted toward the new stuff.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 2 of 3

Re: (not) understanding this "hurting" item

Thanks for the reply, Hauling.  My scores are just below 680, meaning every crazy formula thing really makes a difference.  Could I possibly be better off removing the ancient account -- an AmEx account my parents put me on as an authorized user when i was 13 or something for emergencies -- from the TransUnion account?  


Do i even have the option of removing an account in good standing from my account because their formula penalizes me for it?


oy vey! 

Message 3 of 3