Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
Re: How To Determine AAoA?
[ Edited ]

shinedown87 wrote:

Thanks for posting this spreadsheet.  I have a few questions for those that would be kind enough to answer.

 

From what I have read here at myFICO recently, if an account is closed, it continues to be factored into the AAoA for 10 years after closure.  Does this spreadsheet automatically stop using the credit for calculation after the 10 years, or would I need to manually remove the old closed account?

 

Amex charge cards should be entered in as installments? What should I enter for the 'limit' on these cards?

 

I have a Bank of America Cash Rewards that does not report my credit limit.  What should I enter in the 'limit' field?  Since I can't enter '0' should I just enter a '1'?

 

 


It factors into AAoA for as long as it reports to your CRs, which can be 10 years, more or less. There isn't a fixed rule on the 10 years. I've had some closed accounts delete earlier and some much later.

 

Amex charge cards largely don't impact util. The mix is considered as a charge card. The EQ FICO on here and versions used by those that pull EQ FICO ignore the balance (and high balance) for util calculation purposes. Same goes for EX FICO versions out there and the TU FICO versions used by most lenders. Only the TU98 version on here factors charge cards into util via the balance and high balance. The same applies to your BofA. If a CL reports of $0, then it's excluded. If absent a CL, then a high balance is substituted for the sole TU FICO version.

 

ETA...I too did a similar spreadsheet. I omitted the rows for CCs that don't count. I excluded my Amex.