topic Aooa in Understanding FICO® Scoring

Aooa

Hotcoals91 — Sat, 25 Nov 2017 05:14:50 GMT

My question is what likely happens when my oldest account reaches 2 years of age?

Re: Aooa

Anonymous — Sat, 25 Nov 2017 05:21:42 GMT

What do you mean by what happens? Do you mean with respect to your score? AoOA is one of the factors used in scorecard assignment. I'm not sure what the age thresholds are though when it comes to this... as in, I'm not sure if 2 years matters. With AAoA I do believe it likely matters. Lenders definitely like to see an AAoA of 2+ years rather than 1 year, for example. Perhaps those with more AoOA knowledge such as the thresholds for scorecard assignment can weigh in?

Re: Aooa

Hotcoals91 — Sat, 25 Nov 2017 08:06:56 GMT

Yes thats pretty much what im asking although my youngest accounts will be reaching 3 months old at the same time so i dont know if ill be able to see what causes what.

Re: Aooa

Anonymous — Sun, 26 Nov 2017 00:49:25 GMT

I don't believe that 3 months for AoYA is significant. Some argue that even 6 months isn't and that a scoring benefit isn't seen until your AoYA hits 1 year. I just had my AoYA hit 6 months a few weeks back and did not see any score increase on any of the 3B under FICO 08.

Re: Aooa

Anonymous — Sun, 26 Nov 2017 01:00:14 GMT

Is your profile clean? Age of Oldest, Age of Youngest, and Total Number of Accounts are the three factors that (together) determine which scorecard you are assigned to, for clean profiles.

Exactly how that works is not known for sure though.

Re: Aooa

Hotcoals91 — Mon, 27 Nov 2017 05:42:40 GMT

Yes my file is clean. My oldest line is a capital one quicksilver that started as a platinum and it turns 2 on december 1st. My youngest was opened this august 29th. I have 8 total accounts, 6 cards and 2 auto loans, and one of each are closed if that matters.

Re: Aooa

Anonymous — Mon, 27 Nov 2017 13:14:26 GMT

Perhaps you can help the rest of our community out by tracking your scores carefully in the next few weeks and letting us know if you see any significant change. Age of Youngest is unlikely to cause a scoring change (given its extremely recent age) and you have plenty of accounts so your profile won't be considered thin. Aged of Oldest sounds like the only significant thing changing.

Re: Aooa

Hotcoals91 — Tue, 28 Nov 2017 00:33:42 GMT

I know ill be checking out the discover score card december 2nd for the difference between november 1st.

Re: Aooa

Hotcoals91 — Fri, 01 Dec 2017 08:49:54 GMT

Well i just checked out discover scorecard and as far as i can tell with age of oldest now being 2 years and revolving utility staying essentially the same at 27% it was good for 6 points