AAoA question

[Anonymous]

My AAoA is 8yrs on one and 7 yrs on another.  If I were to app for a new credit card, how badly would it effect my AAoA?

[Anonymous]

need more info, how many accounts total and whats the age of each of your accounts listed open or closed.

[Anonymous]

AAoA   Average Age of Accounts.  It is the mean of all the open and closed accounts on your report.

If that is all you have.   

Current AAoA  = (7 + 8)/2  =  7.5 yrs

New  AAoA = (7 + 8 + 0)/3  = 5 yrs

[vanillabean]

(8 + 7) / 2 = 7.5 = 7

(8 + 7 + 0) / 3 = 5.0 = 5

So your AAoA goes down two years.

[Anonymous]

Thanks for the info.  It's very helpful.

AFSCU opened in  2000

Cap One opened   2006

Orchard opened     2006

BofA opened           2008

The oldest cc I have is a Citi card.  Opened in 1991, closed 2005.

[Anonymous]

is AAoA on credit cards computed by looking at the start date of the card up until present, or is only the # of months when the card is actually reported to the credit bureau taken into consideration?  It appears that not all cards start reporting to each bureau as soon as the card is opened, so if only the actual time it has been reported is used in the computation your AAoA is being unfairly lowered.

Also, are authorized user accounts used in the computation of AAoA? Thanks

[MarineVietVet]

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@Anonymous wrote:

is AAoA on credit cards computed by looking at the start date of the card up until present, or is only the # of months when the card is actually reported to the credit bureau taken into consideration?  It appears that not all cards start reporting to each bureau as soon as the card is opened, so if only the actual time it has been reported is used in the computation your AAoA is being unfairly lowered.

Also, are authorized user accounts used in the computation of AAoA? Thanks

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Your AAoA is the sum of the ages of every account (except CA collections) on your report, whether open or closed. This is measured from the time each account was opened until present.

You’ll need to figure the age of each account on each report. If all three reports are identical (very unlikely), you're in luck; otherwise, you'll need to run this for each report.

If you are an AU on an account you inherit the entire history including it's AAoA.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[Anonymous]

so let's say a card was opened Jan. 2006, and didn't start reporting to a bureau until May 2006 (I'm not sure why it wouldn't start reporting right away but from what I understand this can happen).  What would the opening date be considered for that card for the bureau in question....Jan. 2006 or May 2006?  Because if the bureau doesn't hear about the card until May, they may have no way of knowing it was opened earlier than May.

[MarineVietVet]

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@Anonymous wrote:

so let's say a card was opened Jan. 2006, and didn't start reporting to a bureau until May 2006 (I'm not sure why it wouldn't start reporting right away but from what I understand this can happen).  What would the opening date be considered for that card for the bureau in question....Jan. 2006 or May 2006?  Because if the bureau doesn't hear about the card until May, they may have no way of knowing it was opened earlier than May.

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The opening date would be 1/2006 whether it reports or not. Nothing would change that. A CRA can only report what is sent to them by a creditor. If the card is not showing up then a call to the CCC is in order.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[thrasher865]

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@MarineVietVet wrote:

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@Anonymous wrote:

so let's say a card was opened Jan. 2006, and didn't start reporting to a bureau until May 2006 (I'm not sure why it wouldn't start reporting right away but from what I understand this can happen).  What would the opening date be considered for that card for the bureau in question....Jan. 2006 or May 2006?  Because if the bureau doesn't hear about the card until May, they may have no way of knowing it was opened earlier than May.

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The opening date would be 1/2006 whether it reports or not. Nothing would change that. A CRA can only report what is sent to them by a creditor. If the card is not showing up then a call to the CCC is in order.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

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Just to add to what marine is saying, just because the account starts reporting in May, doesn't mean that's what the creditor reports to the CRA.  When you pull your report, it will have an account opening date, and it should be within the month that you opened it.  A lot of times its the day it was opened, a lot of times its the first day of the month you opened it.  Just because the first date that it reports can be 2 or 3 months after its opened, doesn't mean that's the date used for scoring.