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Calculating AAoA, AoOA, etc...

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Valued Contributor

Calculating AAoA, AoOA, etc...

How do you calculate account ages? Do you go by the date the account was actually opened? Or do you go by the first of the month? Is it different for each bureau?

 

I've been using the actual date of each account, but I have found that my scores seem to change on the 1st of the month, whenever I cross some sort of threshold. For example, my oldest account (which is closed now) was opened May 31, 2018, but on May 1st (2020) it looks like I got a bump in my scores for my oldest account aging 2 years (at least on Experian), and not at the end of the month like I was expecting.

 

Now I'm waiting for my youngest account to turn at least 1 year before for applying for anything. Do I wait until August 20th? Or will I see the score boosts on August 1st?





Message 1 of 13
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Super Contributor

Re: Calculating AAoA, AoOA, etc...

@KLEXH25 The algorithm considers everything to be opened on the first of the month in which it was opened. Also aging points are given on the first, sometimes you’ll see the alert dated the 31st for TU, IME.

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 2 of 13
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Super Contributor

Re: Calculating AAoA, AoOA, etc...

Additionally you can’t count on the CMS frontend to do aging calculations for you for averages, you have to do it yourself and using the first of the month.
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 3 of 13
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Super Contributor

Re: Calculating AAoA, AoOA, etc...

To be honest you can’t even count on the frontend to even calculate utilisation for you. If you don’t calculate it yourself, you can’t count on it, that’s pretty much the rule.
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 4 of 13
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Valued Contributor

Re: Calculating AAoA, AoOA, etc...


@Birdman7 wrote:
Additionally you can’t count on the CMS frontend to do aging calculations for you for averages, you have to do it yourself and using the first of the month.

@Birdman7 You lost me at "CMS frontend"...what does that mean?

 

I do all my own calculations. I even have spreadsheets for everything. But I've been using the date opened instead of the first of the month, so I need to update everything.

 

What about when it comes to 5/24? Does that go by the actual date?





Message 5 of 13
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Valued Contributor

Re: Calculating AAoA, AoOA, etc...

I cheat and look through my CreditSesame, CK and here/other places to see what they say for AaoA OaoA etc.  XD   Don't know how accurate they are since some show older accounts and other accounts don't even have that listed but it seems pretty spot on for when ppl pull my information Smiley Happy










Message 6 of 13
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Valued Contributor

Re: Calculating AAoA, AoOA, etc...


@Girlzilla88 wrote:

I cheat and look through my CreditSesame, CK and here/other places to see what they say for AaoA OaoA etc.  XD   Don't know how accurate they are since some show older accounts and other accounts don't even have that listed but it seems pretty spot on for when ppl pull my information Smiley Happy


Yeah, the problem with that is that CK, etc. that go by Vantage don't count closed accounts and I have two (my oldest CC and my first auto loan), so I have noticed that CK is very different from what I calculate & Experian tells me. And Experian's calculations were slightly higher than mine so I figured it must be using the first of the month.





Message 7 of 13
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Super Contributor

Re: Calculating AAoA, AoOA, etc...


@KLEXH25 wrote:

@Birdman7 wrote:
Additionally you can’t count on the CMS frontend to do aging calculations for you for averages, you have to do it yourself and using the first of the month.

@Birdman7 You lost me at "CMS frontend"...what does that mean?

 

I do all my own calculations. I even have spreadsheets for everything. But I've been using the date opened instead of the first of the month, so I need to update everything.

 

What about when it comes to 5/24? Does that go by the actual date?


@KLEXH25 that's exactly what I'm talking about, whether it's MF, CK, WH, EX, if you have a service that provides the calculated ages, utilisation, or whatever, you cannot rely upon it because it typically rounds wrong and other issues, so you have to calculate it like you're doing, yourself, and know it will be the first, if the open day was May 24, the fico algorithm truncates it to the first of the month for all calculations. 

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 8 of 13
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Super Contributor

Re: Calculating AAoA, AoOA, etc...

We call it a CMS frontend because it’s a credit monitoring service and the consumer side that uses an application or a browser to access a website, well, IT calls that the frontend. It’s just for display purposes, as opposed to the servers that actually store the website, data, and databases, which are considered to be the backend.

To oversimplify, your app or browser is the frontend and it’s simply a template with a bunch of blank fields. The backend transfers the data from the databases to populate those fields in the frontend.

 

But the programming used to calculate those ages, utilisation, etc are not the fico algorithm; therefore they don't result in the same information and can't be relied upon to determine what the algorithm is calculating.

 

I hope that helps and was understandable?

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 9 of 13
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Valued Contributor

Re: Calculating AAoA, AoOA, etc...


@Birdman7 wrote:

We call it a CMS frontend because it’s a credit monitoring service and the consumer side that uses an application or a browser to access a website, well, IT calls that the frontend. It’s just for display purposes, as opposed to the servers that actually store the website, data, and databases, which are considered to be the backend.

To oversimplify, your app or browser is the frontend and it’s simply a template with a bunch of blank fields. The backend transfers the data from the databases to populate those fields in the frontend.

 

But the programming used to calculate those ages, utilisation, etc are not the fico algorithm; therefore they don't result in the same information and can't be relied upon to determine what the algorithm is calculating.

 

I hope that helps and was understandable?


Got it - yes I understand now. Thanks @Birdman7 !





Message 10 of 13
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