topic 32 point drop (so far) due to AAoA falling -- larger drop expected in Understanding FICO® Scoring

32 point drop (so far) due to AAoA falling -- larger drop expected

Anonymous — Mon, 09 May 2016 16:55:09 GMT

Fico Score 8 from Amex: 731

Credit Karma FAKO: 721

CK FAKO history: 769 (one CC account, 6 years 11 months) -> 753 (one card added, AAoA 3 years 6 months) -> 721 (second card added, AAoA 2 years 4 months)

I have three more cards that have not been reported, which will bring my AAoA even lower. I calculated it to be around 1 year 2 months once all the cards appear.

The AoR shall stop now since I have most of the cards I wanted, plus five newly approved cards will put me in the 5/24 rule with Chase.

Utilization is 1%, so it's definitely the inquiries plus AAoA hurting me, along with not having an installment loan.

Re: 32 point drop (so far) due to AAoA falling -- larger drop expected

Anonymous — Tue, 10 May 2016 11:21:40 GMT

Well, adding the installment loan would certainly help. As long as you aren't applying for more credit, I'd think you'll rebound from the majority of the hit you took in about a year as all of the inquiries will lose their impact by then and your AAoA will go from 1 year to 2 years. If you have the installment loan in good standing a year from now I'd think that addition would probably ease some of the loss from the 6 year AAoA to 2 year AAoA, so 1 year from now your FICO scores could be in the low-mid 700's again.

Re: 32 point drop (so far) due to AAoA falling -- larger drop expected

RonM21 — Tue, 10 May 2016 16:17:54 GMT

As long as you garden and maintain, the scores will rebound and may even get higher in the long.run.