topic Re: AAOA? in General Credit Topics

AAOA?

Anonymous — Sun, 15 Dec 2013 11:04:00 GMT

Is there really a point of trying to keep AAOA high by not applying for many CCs at once? I mean eventually everything will even out as time passes and you have the cards you already desire, right? (That's assuming you aren't going to purchase a car or a house anytime soon)

Re: AAOA?

vanillabean — Sun, 15 Dec 2013 10:42:19 GMT

Life is like a layer cake. Just when you think the first layer completes it, new thoughts pop into your head, which is why everything may eventually not even out as smoothly as anticipated. Add to that closed cards, which lower your AAOA when dropping off after ten years. There's a reason why so few diamond spades are seen in these forums.

Re: AAOA?

lg8302ch — Sun, 15 Dec 2013 11:12:35 GMT

@Anonymous-own-fico wrote:
Life is like a layer cake. Just when you think the first layer completes it, new thoughts pop into your head, which is why everything may eventually not even out as smoothly as anticipated. Add to that closed cards, which lower your AAOA when dropping off after ten years. There's a reason why so few diamond spades are seen in these forums.

yep... the ones that do not come to this forum might have Diamond spades but do not know about its existance and the ones that come here get tempted to app for nice cards. I am the best example ..kind of Diamond spade for 20 years before coming to this board.... started in 11/12 with AAoA 18 yrs and 1 year later I am down to 4 yrs and my last card does not even report yet ....so far I did not get any damage on Fico scores on the contrary with only 2 cards my scores were slightly lower. The AAoA will eventually level out but it takes years and I had no idea how much damage this cut would do ...glad it had no impact for me.

@Anonymous-own-fico Congrats... Diamond and being on this forum is quite an accomplishment !

Re: AAOA?

chwebb1 — Sun, 15 Dec 2013 15:58:33 GMT

Before I joined this forum, I had two credit cards and was happy with life. I had no idea that other credit cards could benefit me (other than Amex, although I had tried twice and been declined). Now, let's just say that I have significantly more than 2, and significantly more cash back on my spending . Oh, and I also got my AMEX!

Re: AAOA?

Anonymous — Sun, 15 Dec 2013 16:09:06 GMT

@lg8302ch wrote:
@Anonymous-own-fico wrote:
Life is like a layer cake. Just when you think the first layer completes it, new thoughts pop into your head, which is why everything may eventually not even out as smoothly as anticipated. Add to that closed cards, which lower your AAOA when dropping off after ten years. There's a reason why so few diamond spades are seen in these forums.

yep... the ones that do not come to this forum might have Diamond spades but do not know about its existance and the ones that come here get tempted to app for nice cards. I am the best example ..kind of Diamond spade for 20 years before coming to this board.... started in 11/12 with AAoA 18 yrs and 1 year later I am down to 4 yrs and my last card does not even report yet ....so far I did not get any damage on Fico scores on the contrary with only 2 cards my scores were slightly lower. The AAoA will eventually level out but it takes years and I had no idea how much damage this cut would do ...glad it had no impact for me.

@Anonymous-own-fico Congrats... Diamond and being on this forum is quite an accomplishment !

Well said. I "gardened" away my ex husband's bad accounts off my record from 2005 until this year when I started realize that I needed to see how things are in hopes of buying a house in the future. Then I went crazy! The gardening worked to a point (gaining 200+ points in 8 years), but I know I would have been more successful to have applied consistently for new, attainable credit lines. This is why I plan to test some of my theories while I'm working this out. Partially because it's a game to me. Partially because my current husband and I can partner together in it, and even if one of our reports is less than perfect, together we'll be in a better place... that's the plan anyhow.

Re: AAOA?

indiolatino61 — Sun, 15 Dec 2013 16:55:40 GMT

@Anonymous-own-fico wrote:
Life is like a layer cake. Just when you think the first layer completes it, new thoughts pop into your head, which is why everything may eventually not even out as smoothly as anticipated. Add to that closed cards, which lower your AAOA when dropping off after ten years. There's a reason why so few diamond spades are seen in these forums.

Your diamond is beautiful...

Re: AAOA?

Sucka — Sun, 15 Dec 2013 18:13:11 GMT

What does the diamond represent? Or any of them for that matter?

Re: AAOA?

MMB85 — Sun, 15 Dec 2013 18:23:04 GMT

@Sucka wrote:
What does the diamond represent? Or any of them for that matter?

It means that you have been gardening for 24 months. So no hardpulls for 24 months. That is what I am working towards.

Re: AAOA?

Anonymous — Sun, 15 Dec 2013 18:25:54 GMT

@Sucka wrote:
What does the diamond represent? Or any of them for that matter?

Read the very first post here: http://ficoforums.myfico.com/t5/Credit-Cards/Garden-Club-Meeting-December-2013/td-p/2622315

It is a very helpful thread in a lot of ways because it's basically a support system that helps you along so you can let your accounts age, and grow verses apping when you probably shouldn't and getting lower limits and worse terms with your credit cards. Very friendly and helpful people.. even if they might be mischievous and slightly nutty.

Re: AAOA?

PhoenixDown — Sun, 15 Dec 2013 20:54:31 GMT

I knew what cards I wanted and methodically went about obtaining each.

* Chase Freedom in July 2013

* Amex BCP in Aug 2013
* CSP in Aug 2013 after 3x CLI on Amex

I knew my AAoA would drop but figured I'd take the hits now rather than span it out for no reason.