Going to Accumulate 5yrs of credit history in April Next????

[kpresod]

Hi All,

Correct me if i'm calculationg my aaoa on my credit profile incorrectly. But I just realized that my cap1, paypal sc, walmart, creditone, bofa scc, are all going to make one year next year. Is that good ? or not ? and would that consider to be 5 yrs of credit history? Thanks in advance .

[somnipotent]

If you got them all at the same time, then they are all going to be 1 year.  AAoA is a cummulative total, not individal.

[distantarray]

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@Omaplatypus wrote:

If you got them all at the same time, then they are all going to be 1 year.  AAoA is a cummulative total, not individal.

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^ this

[kpresod]

Sorry, and that's what I was trying to explain. That each account would be making 1 year each, and I wanted to know if the total would be aaoa calculation would be 5 yrs. My mistake!

[distantarray]

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@kpresod wrote:

Sorry, and that's what I was trying to explain. That each account would be making 1 year each, and I wanted to know if the total would be aaoa calculation would be 5 yrs. My mistake!

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lol yea just take the age of all accounts and divide it by the number of accounts =)

you can find it on creditkarma under the pie chart on the main page of your credit/debt ratio.

[nicholasyud]

Sorry, and that's what I was trying to explain. That each account would be making 1 year each, and I wanted to know if the total would be aaoa calculation would be 5 yrs. My mistake!  

Yeah you wish.....)))

[Cdnewmanpac]

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@distantarray wrote:

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@kpresod wrote:

Sorry, and that's what I was trying to explain. That each account would be making 1 year each, and I wanted to know if the total would be aaoa calculation would be 5 yrs. My mistake!

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lol yea just take the age of all accounts and divide it by the number of accounts =)

you can find it on creditkarma under the pie chart on the main page of your credit/debt ratio.

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Just FYI, credit karma calculated average age of OPEN accounts, so if you have closed accounts (which count towards fico AAoA), the two can be markedly different. To OP, 5 years of credit history means your oldest account is 5 years old. 5 year AAoA means the AVERAGE account age is 5 years. Having one card that is a year old or having 10 cards that are a year old will both give an AAoA of 1 year and a credit history of one year. 

[kpresod]

Ok I see, and thanks for the responses. Also, I apologize for the the redundancy with my previous post . Got a bit excited for no reason!