topic Re: Making this make sense in Understanding FICO® Scoring

Making this make sense

Anonymous — Mon, 20 Oct 2008 02:48:02 GMT

What's hurting your FICO score

You have a short credit history. Most FICO High Achievers have an average age of accounts between 6 and 12 years.

Length of credit history = 12 years

Seriously?!?!?!?! Just last week the length of my credit history was a factor that was HELPING my score.

OY!!!!! Craziness.

Re: Making this make sense

llecs — Mon, 20 Oct 2008 17:52:17 GMT

You mentioned that your length of credit history is 12 yrs. What is your average age?

Edit to add...I too am dinged for my history. As with your CR, my EX I think also has a 12 yr history. But my avg. age is only 2 yrs (thanks to my 10 new accts opened in the past yr. ).

Message Edited by llecs on 10-20-2008 01:52 PM

Re: Making this make sense

Junejer — Mon, 20 Oct 2008 21:08:04 GMT

Yep, also FICO says that the avg FICO high achiever has a credit history on avg of 19 years long. As Ilecs stated, check out the AAoA.

Re: Making this make sense

Anonymous — Tue, 21 Oct 2008 01:10:30 GMT

My AAoA is 8 years

Re: Making this make sense

Junejer — Tue, 21 Oct 2008 01:46:06 GMT

IMO, with an AAoA that high, you shouldn't receive that message.

Re: Making this make sense

Anonymous — Tue, 21 Oct 2008 02:34:55 GMT

Ehhh they were just so used to having that big ol pile of negatives on there because of all my CA that when those fell off they felt the need to fill it in with something else and that is what they pulled out of their hats.

Or at least that is what I am telling myself until the next time I pull my FICO's