topic Re: Question about account age. in General Credit Topics

Question about account age.

Anonymous — Thu, 12 Nov 2009 21:49:25 GMT

Is the age of an account the number of years it was open or is it calculated by date opened until now?

Example: A loan has a 5 year term and is paid in full. It is opened in 2002 and paid in 2007 and is reporting 0 balance and paid. For credit reporting purposes, how old is this account?

Thanks,

Re: Question about account age.

llecs — Fri, 13 Nov 2009 01:52:18 GMT

Are you referring to an AAoA calculation? It is based on how long it has been open from the date first opened until today. AAoA factors in all OC accounts, good or bad, opened or closed. AAoA does not include CAs or PRs.

In your example, an account opened in 3003 and still reporting today would be 7 years old.

Re: Question about account age.

Anonymous — Fri, 13 Nov 2009 04:08:50 GMT

@llecs wrote:
Are you referring to an AAoA calculation? It is based on how long it has been open from the date first opened until today. AAoA factors in all OC accounts, good or bad, opened or closed. AAoA does not include CAs or PRs.

In your example, an account opened in 3003 and still reporting today would be 7 years old.

Thanks llecs