topic Re: Aaoa in Understanding FICO® Scoring

Aaoa

sarkell — Fri, 22 Mar 2013 16:09:19 GMT

Ha I was just running some numbers I will have to wait until fall 2020 before aaoa accounts goes over 6 years haha. That's keeping all my accounts and only adding two more. Haha that's if I add only two cards and keep all my others which is my plan. In about 6 months it will be at almost 3 years. Oh we'll. I have 8 accounts that I kept open for 6 month or less that kills me.

Re: Aaoa

llecs — Fri, 22 Mar 2013 16:26:36 GMT

If you didn't add any new accounts, your AAoA will be over 9 years old by 2020.

Re: Aaoa

sarkell — Fri, 22 Mar 2013 17:39:14 GMT

Not true I have still 23 accounts in total the 6 month or less are now currently closed. Does a closed account that updates every month stay on longer?

Re: Aaoa

llecs — Fri, 22 Mar 2013 19:15:15 GMT

All closed accounts factor into AAoA (as seen by FICO). If in 6 months from now your AAoA turns 3, then in 2020 sometime you would have added 7 yrs to those 3 now which would result in a 9-10 yr AAoA. That's assuming that you don't add any new accounts and you don't lose any accounts. Positive closed accounts remain for 10 yrs following the closure date and negative OC accounts remain for 7-7.5 yrs from DOFD.