topic Re: Is there a website? in General Credit Topics

Is there a website?

Anonymous — Fri, 01 Dec 2017 20:10:45 GMT

Is there a website that will simulate your AAoA IF I were to add 1 or 2 new accounts?

Re: Is there a website?

Kree — Fri, 01 Dec 2017 20:53:54 GMT

Yes, but I can't link it because it got deleted the last time people were talking about it. You could do it in excel yourself.

column a open date in xx/xx/xxxx

column b todays date in xx/xx/xxxx

column c =((a1-b1)/365)

column d =sum(c1:c32)/X

copy down column c and it will change the formula for each account entry. Replace X with the total number of entries. This is you AAoA in years.

To simulate adding an account, just add a new account to the bottom, and add replace the X with your new total. You might need to change the formatting of column C and D to display in numbers with decimals, otherwise it will round to the nearest year. You can do this in years and months, but the formulas are a bit longer and I don't quite remember them off the top of my head. As an additional note, this formula assumes you will have 32 accounts or less.

Re: Is there a website?

Anonymous — Sat, 02 Dec 2017 07:21:53 GMT

Thanks but I'm on a cell phone and dont have access to a computer with excel often. Thought someone said there was a website but I could be wrong. Hopefully someone else can help. I've tried searching online but couldn't find what I need. Oh well

Re: Is there a website?

Anonymous — Sat, 02 Dec 2017 07:47:56 GMT

Just do it by hand

X = current AAoA in month

Y = total number of current accounts (open and closed)

Z = total number of new accounts

New AAoA = (X * Y + Z) / (Y + Z)

Re: Is there a website?

Anonymous — Sat, 02 Dec 2017 14:36:55 GMT

@Anonymous wrote:
Just do it by hand

X = current AAoA in month
Y = total number of current accounts (open and closed)
Z = total number of new accounts

New AAoA = (X * Y + Z) / (Y + Z)

Assuming all all new acounts have an age of zero (new) wouldn't the equation be:

New AAoA = XY/(Y+Z)

Re: Is there a website?

Kree — Sat, 02 Dec 2017 16:09:30 GMT

@Anonymous wrote:
@Anonymous wrote:
Just do it by hand

X = current AAoA in month
Y = total number of current accounts (open and closed)
Z = total number of new accounts

New AAoA = (X * Y + Z) / (Y + Z)
Assuming all all new acounts have an age of zero (new) wouldn't the equation be:

New AAoA = XY/(Y+Z)

do new accounts report at 0? I thought they usually reported at 1 month when the billing cycle comes around. Either way won't make much of a difference. How about

New AAoA =(( XY/(Y+Z) )+ ( (X * Y + Z) / (Y + Z) ))/2

Re: Is there a website?

Anonymous — Sat, 02 Dec 2017 17:16:05 GMT

Like Kree said, most lenders report new accounts after the first statement cut with a few exceptions.

Re: Is there a website?

Anonymous — Sat, 02 Dec 2017 23:22:50 GMT

@Kree wrote:
@Anonymous wrote:
@Anonymous wrote:
Just do it by hand

X = current AAoA in month
Y = total number of current accounts (open and closed)
Z = total number of new accounts

New AAoA = (X * Y + Z) / (Y + Z)
Assuming all all new acounts have an age of zero (new) wouldn't the equation be:

New AAoA = XY/(Y+Z)

do new accounts report at 0? I thought they usually reported at 1 month when the billing cycle comes around. Either way won't make much of a difference. How about
New AAoA =(( XY/(Y+Z) )+ ( (X * Y + Z) / (Y + Z) ))/2

Ya, You are correct. I believe they do report 1 month.
(X * Y + Z) / (Y + Z)