topic Re: AAOA Question in Credit Cards

AAOA Question

Anonymous — Fri, 18 Apr 2014 05:51:39 GMT

My aaoa is 6.4 yrs for all 3 bureaus. I just added another Amex card and it was backdated , so I gained 11 yrs. When it updates , what would my new aaoa be.

Re: AAOA Question

Kenny — Fri, 18 Apr 2014 05:53:06 GMT

I don't believe that would be possible for anyone to tell you that answer. You'd have to list all of your account's ages in order to get that figure.

Re: AAOA Question

DaveSignal — Fri, 18 Apr 2014 06:00:51 GMT

+1. But, juding by the number of credit cards in your signature and adding a few installment accounts, auto loans, etc, I am guessing you have at least 30+ accounts on your credit report.... in which case your AAoA has not changed at all by FICO standards... it is still 6 years.

Re: AAOA Question

sexy_kitten7 — Fri, 18 Apr 2014 08:02:14 GMT

@KennyRS wrote:
I don't believe that would be possible for anyone to tell you that answer. You'd have to list all of your account's ages in order to get that figure.

To get technical, since it's an average, you would just need the number of accounts including the new one, x.

AAoA = (6.4*(x-1)+11)/x

If x = 31, then AAoA = 6.55

Re: AAOA Question

yudeology101 — Fri, 18 Apr 2014 08:07:15 GMT

@Anonymous wrote:
My aaoa is 6.4 yrs for all 3 bureaus. I just added another Amex card and it was backdated , so I gained 11 yrs. When it updates , what would my new aaoa be.

AAoA Calculator

Re: AAOA Question

DaveSignal — Fri, 18 Apr 2014 08:23:58 GMT

FICO rounds AAoA down to the nearest whole number. OP was at 6 years previously. If OP previously had less than 7 accounts on his credit report, AAoA would now have increased to 7 years. But that is probably not the case.

As mentioned above in my first reply, if all of the included signature credit lines are valid, AAoA would remain at 6 years. It would also remain at 6 years if the account had not received backdating at all.

People make much too big a deal about Amex backdating. Its a small perk.

The number of accounts and their ages are needed to be absolutely sure. OP, where did the 6.4 years come from?