topic Re: Open AAoA in Understanding FICO® Scoring

Open AAoA

Anonymous — Fri, 10 May 2013 00:40:14 GMT

If you reduce your open AAoA does FICO take a ding? I want to shred a Cap One card that is just over a year old. It has a CL of only $451.

I have a short average now so didn't want to make a wrong decision by lowering it further. I had always assumed FICO looked at open and closed AAoA for scoring?

Re: Open AAoA

FocusedAndDetermined — Fri, 10 May 2013 00:45:19 GMT

Closed accts are usually factored into score for at least 10 yrs.

Re: Open AAoA

Anonymous — Fri, 10 May 2013 00:45:24 GMT

Open and closed accounts are used to calculate your AAOA. Closed accounts can stay on your cr for up to 10 years no guarantee.

Have you tried emailing the EO at Cap One?

Re: Open AAoA

Anonymous — Fri, 10 May 2013 00:46:08 GMT

Also keep in mind the loss of util that will affect your CS

Re: Open AAoA

Anonymous — Fri, 10 May 2013 00:50:25 GMT

@Anonymous wrote:
Open and closed accounts are used to calculate your AAOA. Closed accounts can stay on your cr for up to 10 years no guarantee.

Have you tried emailing the EO at Cap One?

This is a secured card I bet capone EO will do nothing for it but wave af, and tell you to apply for one of there unsecured card. LMAO (funny thing is it works)

Re: Open AAoA

Anonymous — Fri, 10 May 2013 00:51:52 GMT

It is a secured card that started at $351 then I had a $100 CLI to $451. I now have several (6) cards with 8.5K limits but all are less than a year old.

Im trying to figure out a way to app for the Amex BCE for the 3x CLI. I'm afraid all these new cards and available credit will get me denied. No, I didn't try the EO, figured they wouldn't fool with a secured card.

My util is OK, its just the age of accounts that I wonder about. I don't want to close it and then take a drop because I've lowered my Open AAoA.

Re: Open AAoA

llecs — Fri, 10 May 2013 00:54:59 GMT

FICO doesn't care if it is opened or closed. There is only one AAoA (when factoring all acct types).

Re: Open AAoA

Anonymous — Fri, 10 May 2013 00:55:43 GMT

If its secured all you can hope for is the AF waived.

What is your profile like?

Re: Open AAoA

Anonymous — Fri, 10 May 2013 00:56:13 GMT

If I was you ( and I love capone) I have had great luck with them since rebuilding my credit last year. I would wait till the right moment and app for the amex you want, just to be sure you get it. Then drop capone you dont need that card with the others that you have.