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New Member
dhb1313
Posts: 10
Registered: ‎03-26-2009
0

(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?

 

Deb

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Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

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
New Member
dhb1313
Posts: 10
Registered: ‎03-26-2009
0

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! 


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