AAOA Question

[Anonymous]

I opened all of my credit cards starting from Aug. 2012 up until now. Credit karma says my aaoa is 4 months. I think they average how many cards I have compared to how long I have had them right? I am curious....when my cards hit 1 year......what will my aaoa become? Say for instance I have 14 cards and when they hit 1 year what would it make my aaoa?

[Anonymous]

Total number of months across all cards / number of cards

So if all your cards add up to lets say 28 months and you have 7 cards. ... 28/7=4

[Anonymous]

Thanks!!

[OhioCPA]

AAoA is rounded down to the next whole year, with one year being the minimum. Thus, someone with an average account age of anywhere between 1 to 23 months will have an AAoA of 1 year.

[mnavas]

Remember that credit Karma doesn't count your Closed account and FICO does so you might have a higher AAoA with FICO formula