topic Re: AAOA Question in Credit Cards

AAOA Question

Anonymous — Mon, 04 Feb 2013 16:42:31 GMT

I opened all of my credit cards starting from Aug. 2012 up until now. Credit karma says my aaoa is 4 months. I think they average how many cards I have compared to how long I have had them right? I am curious....when my cards hit 1 year......what will my aaoa become? Say for instance I have 14 cards and when they hit 1 year what would it make my aaoa?

Re: AAOA Question

Anonymous — Mon, 04 Feb 2013 16:44:59 GMT

Total number of months across all cards / number of cards

So if all your cards add up to lets say 28 months and you have 7 cards. ... 28/7=4

Re: AAOA Question

Anonymous — Mon, 04 Feb 2013 16:57:45 GMT

Thanks!!

Re: AAOA Question

OhioCPA — Mon, 04 Feb 2013 18:34:36 GMT

AAoA is rounded down to the next whole year, with one year being the minimum. Thus, someone with an average account age of anywhere between 1 to 23 months will have an AAoA of 1 year.

Re: AAOA Question

mnavas — Mon, 04 Feb 2013 19:22:23 GMT

Remember that credit Karma doesn't count your Closed account and FICO does so you might have a higher AAoA with FICO formula