AVERAGE AGE OF ACCOUNTS CALCULATER

[Anonymous]

help myfico .....am not very good at math ...and dont understand the concept ..of finding out the average aaoa if i am to add to new accounts to my file ?  is their a simple calculater online somewhere .....am lazy lol 

[Anonymous]

If you have a CK account, it will show you your accurate AAoA for EQ and TU. If you don't have a CK account, I would suggest creating one. It is free and provides weekly updates of EQ and TU. Just don't pay attention to scores, which are Vantage Score 3 or any recommendations, which are paid advertisements.

[elim]

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@Anonymous wrote:
If you have a CK account, it will show you your accurateAAoA for EQ andTU. If you don't have a CK account, I would suggest creating one. It is free and provides weekly updates of EQ andTU. Just don't pay attention to scores, which are Vantage Score 3 or any recommendations, which are paid advertisements.

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   can't go by CK as it does not include closed accounts and therefore is not accurate

[Anonymous]

There used to be a cool, easy to use spreadsheet AAoA calculator hosted by somebody on tumbler but it now returns a page not found.

[elim]

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@Anonymous wrote:

There used to be a cool, easy to use spreadsheet AAoA calculator hosted by somebody on tumbler but it now returns a page not found.

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+1

here's a good one that a member uploaded.   i opened in google drive, no prob.

http://www.mediafire.com/download/b5la46o2l4l56r1/Accounts+Summary.xlsx

[vanillabean]

Do you have a Mac?

[elim]

filled my info into the spreadsheet linked above (i used google sheets).  it has AAoA, utilization, amount owed, available credit, etc, as well as due date and statement date reminders (just fill in the dates) that can easily have email or text msg notifications with some simple script and vtext or equivalent (for msg).   my AAoA sux and will get worse when my last old accounts fall off next year (i lost 3 this year).

i can write the statement date email or txt msg reminders if anyone wants and share the blank sheet.     it also needs a few more things returned (open availible credit, total revolving balance, etc)

oh well,  it will track my AAoA now

[takeshi74]

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@Anonymous wrote:

help myfico .....am not very good at math ...and dont understand the concept ..of finding out the average aaoa

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It's like any average.  You add up the amounts and divide be the number of amounts.  What makes it a bit trickier is that you're using dates.  If you have a spreadsheet application you can use it and its date formulas to calculate AAoA.

[Anonymous]

I think it's a bit trickier than adding up the dates and dividing.

For example, I think EX counts the date of an account from the 1st of every month regardless of what day the account was opened, whereas TU takes the exact day into consideration. There seem to be more gotcha's in the way they do it. It's unclear to me whether they average partial months as well, so whether 1 month 20 days averaged with 1 month 10 days reports as 1 month (rounding down) 1 month 15 days (exact), or 2 months (rounding up).

So replicating the exact average age used by the bureaus seems a bit tough.

As for the spreadsheet link above -- it assumes that every month has 31 days in it (calculates the number of days since open, divides by 31). Is there any reason to think that is how AAoA is actually calculated? I rather suspect they use the number of actual months, but I'm willing to hear that they do it differently.

For such a simple concept there are many ways it could actually be calculated, all producing slightly different answers! This is important if you are trying to time something, e.g., debating whether you woudld still have >24months AAoA when you renew your mortgage, a year from now, after you app a card you're considering.

[Anonymous]

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@Anonymous wrote:

help myfico .....am not very good at math ...and dont understand the concept ..of finding out the average aaoa

Hey, I have a degree in math, and I can't figure out exactly how they do it either! It isn't just a simple average. Your question is a great question, even if you thought you were being lazy