Re: How much will new accounts impact score & for how long?[ Edited ]
09-09-2011 09:32 PM - edited 09-10-2011 10:56 AM
Does AAoA include AU accounts as well? I have 4 AmEx cards dating back to 1989 and several accounts that dates between 2000 and 2006, all as AU. Except for AmEx Accolades, all my new cards have .$10k CL. I haven't activated a Chase card that has $6k CL.
Yup, AU counts in your AAoA. Looks like you have really nice CLs! Definitely going to help your utilization ration.
I'm sure you already know how to calculate AAoA, but if you don't here's a quick formula.
(Age of all accounts combined, in months) divided by (total number of accounts) divided by 12. The last part -- division by 12 -- converts AAoA from months to years.
Also, the Chase card account is already open regardless of if you activate your card (although they may close the account if you never activate the card) so your AAoA and Util will be reported soon.
Thank you for the info. I just did my calculation, and my AAoA om each CRA is currently about 14 years but will be cut down to 10-11 years once 4 more new accounts start reporting. Fortunately, my total available credit line just from credt cards is about $300k and utilization is about 1%.
BTW, I received an interesting info from the Chase CSR when I called to activate my a Chase card. I asked about PC to a BA Chase card but was told I had to wait a full year before requesting PC. The CSR suggested I reject the card and he will send a letter stating to the fact that I reject the credit card. The account will not be reported a CRA, and if it did they will delete the account, which will take up to 2 months. He said to make sure to keep the letter in case the account isn't deleted from the report and send it in to dispute the account.
Above method would have deleted the hard pull as well according to the CSR but I don't think that's going to happen since I applied and got a JP Morgan Select Visa card at the same time. It will be a + if the inquiry is also deleted but I won't mind too much if it isn't.