@Anonymous wrote:after reading a few threads regarding Chase reporting AU's to CA....I lost hope that it would report on my reports. They never asked for SS# but I read that if I have the billing address listed on my reports as one of my addresses, it will show up. So, yes, it popped up on my EX. and YES they do report.
Now..here is my question. The chase card I was added on as an AU has a credit limit of $11K, and a balance of $1,200 opened up in 2004. I also have a capital one, amazon, paypal, walmart and tjmax opened up in 2011. Another GEMB card opened up in 2007 with CL of 6500 and balance of $2000. The other cards are limits of $300. If my oldest account is the 2004, why is it showing an average less than 3 years of credit history???
You've listed 7 accounts. You didn't specify when exactly the accounts were opened, but let's say 7.5 years with the AU account, 4.5 years with the GEMB account, and .5 years with the 5 accounts opened in 2011. That would be about 2.1 years average accounts. I'm sure if you put the exact ages in, you'd get close to what you are seeing on your CR. What were you expecting the average age to be?
Starting Score: ~500 (12/01/2008)
@Anonymous wrote:ohhhh ok.. I understand. Didnt expect a big jump, but a lil over 4-5 years. Now...he also added me to his gold amex, opened in 1986. What will my average look like then? Thanks for you help.
Well, you've added one more account with 25+ years of history. So, it will be about 40 years total divided by 8 accounts, for an average of 5 years. You just have to sum the total age and divide my number of accounts.
ETA: Note, to do this accurately, you need to know the open dates of the accounts. Since 2011 is nearly over, I have just assumed that all of your accounts had an extra 6 months of history to come up with an approximation. If you want to know the exact figure, it's probably easiest to calculate it in months by summing the age of each account in months, then dividing that figure by total number of accounts, which will give you the average age in months. You can then divide again by 12 to get the average age in years.
Also, the reason you're not seeing a bigger jump is that you have 5 new accounts which weights your average down. This is why app sprees are cautioned against. It is easy to tank your AAoA with several new accounts. I'm not saying you did anything wrong by applying for those accounts. Just want you to understand how it affects the AAoA if you decide to add new accounts in the future. AAoA is just one consideration, there can be lots of reasons to add new accounts.