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Posts: 15,075
Registered: ‎07-14-2009
Re: Closing Aged Accounts.. Yes It Is Ok
[ Edited ]

MagicShot wrote:

So an account I opened 4 years ago that was that was closed 3 years ago will still count as 4 years in my AAoA untill it falls off after 10 years?


Any closed account in good standing will still help both your AAoA and credit length history for generally 10 years after closing. Sometimes the TL will disappear a little early and if you're lucky a TL will stay after the 10 years.

 

In your case that TL should report until sometime in 2018.

 

Your AAoA is the sum of the ages of every account (except CA collections and public records) 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 - 2/11-816, TU - 2/11-782

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