topic Re: AAoA calculation help in Understanding FICO® Scoring

AAoA calculation help

Anonymous — Tue, 26 Mar 2013 15:52:23 GMT

Closed accounts

Capital one secure card opened 8/10 closed 4/11

Walmart store card opened 3/11 closed 10/11

Amex zync opened 4/11 closed 2/13

Sallie Mae student loan opened 1/12 closed 2/12

Blue Nile store card opened 7/12 closed 10/12

Open accounts

Chase Freedom $500 opened 11/12

AMEX BCE $14k opened 1/13 (backdated to 1/11)

Discover It Student $3k opened 3/13

Citi Dividend Platinum Visa $3k opened 3/13

Capital One Cash Rewards Visa $3k opened 3/13

that is everything that is on my CR, I am 20 years old and just starting to really understand how Credit Scores work.

I am wondering if when I calculate my AAoA, does a closed account count from the day it was open til now, for example would my cap1 secure credit card be helping my score because I opened it so long ago, and it has been about 2 and a half years since I opened it, so would it be calculated like that?

or would it just be an account that is 9 months old?

hopefully I made my question clear enough, but really I am just wondering what would be my AAoA after my recent app spree, I dont plan on getting anymore credit for at least another 4 years, so hopefully by then I will have a good AAoA

if I am calculating it right, going from the open date of each account and not factoring in when they closed my AAoA is 13.1 or 1 year because it gets rounded down

but if the closed date matters and I just add up all the months that accounts were actually open and devide by 10 (the total number of accounts) I only have a AAoA of 7.5 months

which one is right?

Re: AAoA calculation help

llecs — Tue, 26 Mar 2013 15:37:05 GMT

In order as you posted you have the age on the following accts:

32 months

25 months

24 months

15 months

9 months

5 months (I'm assuming you meant 2012 vs 11/2013)

27 months (Amex backdates usually match, meaning Zync should match with BCE, but I'll assume you meant 1/11 anyway)

1 month

If my math is correct, that's 140 combined months. Divide that by 10 accts and you get 14 months. Converted into years that's 1.2 yrs. FICO reads it as 1 year because they round down to the nearest whole number.

AAoA includes all open and closed OC accounts, including any charge-offs. Basically all accounts on the Accounts page of your FICO report are included in AAoA calcs. AAoA doesn't care if the TL is closed.

Re: AAoA calculation help

Anonymous — Tue, 26 Mar 2013 15:59:07 GMT

@llecs wrote:
In order as you posted you have the age on the following accts:

32 months
25 months
24 months
15 months
9 months
5 months (I'm assuming you meant 2012 vs 11/2013) correct
27 months (Amex backdates usually match, meaning Zync should match with BCE, but I'll assume you meant 1/11 anyway) it shows up on my report as being opened 1/11
1 month
1 month
1 month

If my math is correct, that's 140 combined months. Divide that by 10 accts and you get 14 months. Converted into years that's 1.2 yrs. FICO reads it as 1 year because they round down to the nearest whole number.

AAoA includes all open and closed OC accounts, including any charge-offs. Basically all accounts on the Accounts page of your FICO report are included in AAoA calcs. AAoA doesn't care if the TL is closed.

thanks, thats what i was hoping, becuase other wise it would take me a while to have a decent AAoA

so that means a year from now I will have another 120 months (ten accounts, 12 months each)

and 120+the 140 i have now=260 months or 2.17 years, so in a year i will have a 2 year AAoA?

Re: AAoA calculation help

llecs — Tue, 26 Mar 2013 16:17:35 GMT

Right, if no accounts are added or removed in that time.

Re: AAoA calculation help

Anonymous — Tue, 26 Mar 2013 16:32:15 GMT

awesome, and I just checked my discover it student paperwork, I had a TransUnion FICO 758 on 3/2013 because they round down, I would of had 137 months devided by 7 accounts (before the three I just opened) but that would of been 20 months or 1 year because they round down

so now that I have 3 hard pulls but still the same AAoA of 1 year I should have a decent score I wouldnt think the 3 hard pulls would hurt me too much, I probably still have 740+ which I am very happy about

and I have 3 hard pulls that will be over 2 years as of 4/12/13 so next month I will only have 6 total hard pulls instead of the 9 I have right now