topic Re: AAoA QUESTION in Credit Cards

AAoA QUESTION

pip3man — Sun, 13 Jul 2014 19:19:48 GMT

I know most lenders usually disregard AU accounts under manual review but my question is this - suppose I get added to an account that's like say 15yrs old with positive history and I was to get an instant approval online, does the system acknowledge the high AAOA I gained from piggybacking on the established AU account or does it disregard everything associated with the AU account and just look at my individual AAoA??? What's really hurting my scores at this time is mainly a low AAoA 7months [oldest open account 3yrs, oldest closed account 4yrs] and several new accounts

Re: AAoA QUESTION

09Lexie — Sun, 13 Jul 2014 19:38:35 GMT

@pip3man wrote:
I know most lenders usually disregard AU accounts under manual review but my question is this - suppose I get added to an account that's like say 15yrs old with positive history and I was to get an instant approval online, does the system acknowledge the high AAOA I gained from piggybacking on the established AU account or does it disregard everything associated with the AU account and just look at my individual AAoA??? What's really hurting my scores at this time is mainly a low AAoA 7months [oldest open account 3yrs, oldest closed account 4yrs] and several new accounts

If a lender disregards the AU TL, it goes to reason their system will disregard all aspects of the account including the AAOA benefit

Re: AAoA QUESTION

Anonymous — Mon, 14 Jul 2014 01:45:41 GMT

What is the AAoA formula. Is that count only revolving accounts? Does it always have to be Open Account. Is it included if revolving account is closed.?

Is student loans part of the formula. Do chargeoff with Balance count in the AAoA.?

My report says been our our files since 2007. Does that mean anything?

Re: AAoA QUESTION

gdale6 — Mon, 14 Jul 2014 04:06:08 GMT

@Anonymous wrote:

What is the AAoA formula. Is that count only revolving accounts? Does it always have to be Open Account. Is it included if revolving account is closed.?
Is student loans part of the formula. Do chargeoff with Balance count in the AAoA.?

My report says been our our files since 2007. Does that mean anything?

All OC accounts are included in AAoA, CAs & PRs are excluded. In file since 07 means thats the year your file was created.

Re: AAoA QUESTION

Anonymous — Mon, 14 Jul 2014 13:58:34 GMT

My husband has a Exxon chargeoff account opened January 1990. Its an OC line. does that mean even though chargedoff it accounts for until it drops.

I thought only good revolving accounts meant anything. What you are saying is a 1988 student loan account also matters even if its a installment loan.

So exactly how do you interpret AAoA.

Oldest + Newest/# of Accounts

1988 + 2014

Re: AAoA QUESTION

09Lexie — Tue, 15 Jul 2014 00:37:10 GMT

@Anonymous wrote:
hi
My husband has a Exxon chargeoff account opened January 1990. Its an OC line. does that mean even though chargedoff it accounts for until it drops.

I thought only good revolving accounts meant anything. What you are saying is a 1988 student loan account also matters even if its a installment loan.

So exactly how do you interpret AAoA.

Oldest + Newest/# of Accounts
1988 + 2014

For more info

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Types-of-accounts-used-to-calculate-AAoA/td-p/2597877

http://ficoforums.myfico.com/t5/General-Credit-Topics/AAoA-Calculation/td-p/501000

http://seemly.com/aaoa-calculator/