topic Re: works like a charm! in myFICO® Product Feedback

works like a charm!

Andrew22 — Fri, 16 Sep 2011 00:42:09 GMT

This was listed as a negative factor on my scorewatch report...ummmm...ummmm...okayyyy.

You have a short credit history.

Your oldest account was opened26 Years agoAverage age of your accounts11 years

FICO High Achievers [?] opened their oldest account 19 years ago, on average.

Most FICO High Achievers [?] have an average age of accounts between 6 and 12 years.

Your FICO score measures the age of your oldest account and the average age of your accounts. In your case, either your oldest account was opened recently or the average age of your accounts is relatively low. People that do not frequently open new accounts and have longer credit histories generally pose less risk to lenders. Therefore, as your credit history lengthens and you pay your bills on time, this factor should have less of a negative impact on your score.

Re: works like a charm!

fused — Fri, 16 Sep 2011 00:54:51 GMT

Nutty FICO!

Re: works like a charm!

Anonymous — Fri, 16 Sep 2011 00:54:55 GMT

Hah, what a joke. Your AAoA is higher than the age of my oldest account!

Re: works like a charm!

llecs — Fri, 16 Sep 2011 01:03:42 GMT

They will throw some weird negative reasons as your score gets higher. Based on your scoring bucket, your AAoA and/or your length of history is younger than most.

Re: works like a charm!

fused — Fri, 16 Sep 2011 01:08:55 GMT

@llecs wrote:
They will throw some weird negative reasons as your score gets higher. Based on your scoring bucket, your AAoA and/or your length of history is younger than most.

True! I wonder if the OP is nearing 800.

Re: works like a charm!

Andrew22 — Fri, 16 Sep 2011 01:31:13 GMT

Interesting! A re-bucket in the offing? My score, actually, is now listed at 706, but my mortgage recently posted, and I recently had my only negative account deleted. So I now have a clean sheet, and a mortgage...

You guys are always helpful. I posted that for a laugh, but once again, I learned something.

Re: works like a charm!

llecs — Fri, 16 Sep 2011 01:35:15 GMT

BTW, to throw in a wrench for laughs, don't be surprised if your other report lists the AAoA/length of history as a positive!

Re: works like a charm!

Andrew22 — Fri, 16 Sep 2011 02:03:55 GMT

They DO! haha...good call.

Re: works like a charm!

llecs — Fri, 16 Sep 2011 02:15:21 GMT

Magic 8-Ball skills are working well tonight.

Re: works like a charm!

Scuba — Sat, 17 Sep 2011 01:23:31 GMT

Ha, I have got you beat!

My history is 32 years old and I am getting hammered with a short history. I have not reported it to the boards because I did not know how to word it.

I have another gripe against the wacky-ness of the FICO reporting only I am trying to compose myself before I put pen to paper.

This is nuts.