Re: Somethings you might not know about how FICO is calculated
09-13-2012 10:48 AM
I would argue age is worked into the score. How this is achieved is through ones oldest account. Now, perhaps this is an indication of when one first obtained credit but nonetheless it does indicate a possible age group of the individual being scored. Stands to reason someone from the Baby Boomer Generation has older accounts than that of someone from Generation X...This may not prove age but does indicate a portion of ones demographics and age group.
Age of accounts is a large part of the score. Age of the Human Being is not. While an older Human is obviously more likely to have older accounts reporting, this isn't always the case, and when it isn't, the age of the person does not have any affect on the score.