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Calculating AAoA

Regular Contributor

Calculating AAoA

Attention Einsteins and Hawkings: I'm just checking. Is the most accurate method of determining my AAoA to take the AAoA of each CB reporting on myFICO, reduce each to months, add them together, divide by 3 and then re-form the quotient into years and months?

 

 

AAoA-EQ + AAoA-EX + AAoA-TU = Total Sum of AAoA /3 = Overall AAoA

 

 

Thanks

Message 1 of 14
13 REPLIES
Super Contributor

Re: Calculating AAoA

Overall AAoA isn't really relevant, because it's always going to be viewed with respect to the bureau that's being considered.  The same way that an average credit score (for example, your 3 FICO 08 scores) divided by 3 really isn't meaningful. 

Message 2 of 14
Regular Contributor

Re: Calculating AAoA

Uh-oh.

My AAoA for EX, Chase's main CB in California, is only 11 months. Also, that's where the 6 HPs are.
Message 3 of 14
Super Contributor

Re: Calculating AAoA

I don't follow your concern.

 

Are you thinking of apping for a Chase product? 

Message 4 of 14
Regular Contributor

Re: Calculating AAoA

Yup. CSP and Freedom. In another post, I write about the preparation for that, so I forgot to put it here, also.
Message 5 of 14
Frequent Contributor

Re: Calculating AAoA

Except for your own insite, that number will mean nothing. Some of my closed accounts only show on one CB.


Message 6 of 14
Super Contributor

Re: Calculating AAoA



Yup. CSP and Freedom. In another post, I write about the preparation for that, so I forgot to put it here, also.

From what I understand of Chase, they look often for a minimum of 1 year AoOA, not necessarily AAoA.

Message 7 of 14
Regular Contributor

Re: Calculating AAoA

BBS: I can't tell the difference between the two terms.
Message 8 of 14
Super Contributor

Re: Calculating AAoA

Age of oldest account verses average age of accounts.
Message 9 of 14
Regular Contributor

Re: Calculating AAoA

Hmmmmmmmmm, thanks for that, even though it creates another quandary. The age of my oldest account is almost 30 years. It's an Amex account that was closed several years ago. Unfortunately, it's only reported on TU, which Chase almost never uses here in California. The age of my recent oldest account (a CO Platinum secured card) is only 2 1/4 years. Both EX and EQ (both of which Chase uses) report their ages as 11 months. Also of concern is that my green-check offers from Chase for both Freedom and CSP don't have fixed APRs, but rather broad ranges. I wonder if I'm setting myself up for a double denial. You can see the particulars in my post "Is Chase Prequal Really a Prequal?" in C.C. Applications.
Message 10 of 14