topic Question about AAOA in Understanding FICO® Scoring

Question about AAOA

Anonymous — Sun, 14 Apr 2013 15:28:45 GMT

After pulling my reports yesterday I started to really look them over and I have a question. For example on my TU report I'm showing a 7 for my AAOA so I went to each line and it looks like the actual is around 7.97. I applied for a new cc yesterday and it looks like my new AAOA will be 7.63. I'm thinking about applying for a discover card but if I do it looks like my AAOA will drop to approx. 7.33 if I do. My Fico scores right now are 794, 795, and 797. I only carry a 1% revolving balance so I'm curious how much this will affect my score. I was really surprised to see it below 800 yesterday so I"m a little worried about applying for another card. I really don't need the credit but like everyone else on here I'm kind of obsessed with trying to hit the 850 mark. How many points do you think I'd drop after applying for 2 cards? Also I have one inquiry from last June and then the one from yesterday.

Re: Question about AAOA

llecs — Sun, 14 Apr 2013 22:54:48 GMT

AAoA will remain unchanged at 7 yrs so no impact there.

Adding the one or two new accounts will ding your credit a little. Probably no more than 20-25 or so. YMMV based on your credit. Within a year you'll bounce back.

Re: Question about AAOA

bettercreditguy1 — Mon, 15 Apr 2013 03:09:10 GMT

+1. While your AAOA will drop and you will receive the new account dings, with your scores, you will be back up there in less than a year. I opened three new accounts in six months last year, my scores have already rebounded and improved about twenty points each. AS always, your account profile will be the determining factor.

Re: Question about AAOA

Anonymous — Mon, 15 Apr 2013 23:02:08 GMT

Thanks for the help but I decided not to apply for the other card until next year. I'm very picky about my scores and I can't stand to watch them go down (even if it's just temporary). Thanks again

Re: Question about AAOA

SuperKirby — Wed, 24 Apr 2013 02:25:07 GMT

Are my student loans factored into my AAoA?

Re: Question about AAOA

llecs — Wed, 24 Apr 2013 02:38:30 GMT

@SuperKirby wrote:
Are my student loans factored into my AAoA?

All OC accounts are factored into AAoA. SLs. Auto Loans. Mortgages. CCs. All opened accts. All closed accts. All charged-off accounts. Basically all accounts on the Accounts page of your FICO report are included. AAoA does not include CAs or PRs.

Re: Question about AAOA

SuperKirby — Wed, 24 Apr 2013 02:40:04 GMT

@llecs wrote:
@SuperKirby wrote:
Are my student loans factored into my AAoA?
All OC accounts are factored into AAoA. SLs. Auto Loans. Mortgages. CCs. All opened accts. All closed accts. All charged-off accounts. Basically all accounts on the Accounts page of your FICO report are included. AAoA does not include CAs or PRs.

Ilecs, thank you for the info. Newbs can get overwhelmed by so many forums and threads/posts, etc.