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Posts: 2,111
Registered: ‎07-29-2011
Re: 11 month or 1 year, does it really make a difference?
[ Edited ]

mmmmmm wrote:

OhioCPA wrote:

mmmmmm wrote:

I heard FICO rounds down, so my AAoA would actually show 0, instead of the .9 years, is this true?

 


FICO does round down for AAoA with the minimum being one year.  Thus, your AAoA won't change for at least another year.


How is that possible?  You're saying that someone with a credit history of 1 month, and someone with a credit history of 1 year, 11 months would have the same score if we were basing it on AAoA alone?


If the banker is right, then on AAoA alone, yes, but that is not the only factor that comes into play by waiting another month.  You will get points for not having new accounts or inquries in the last year which is a whole diferent scoring factor.

 

But you will probably get points also for having a second or third positive revolving account if you open them.

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