Do Closed Accounts count toward AAoA?

[Anonymous]

Hi I just closed a few credit cards. Will that hurt my AAoA? or will they keep aging?

Update* Just searched and found out they do age for 10 years.

When applying for credit, will they take into consideration these closed accounts though? 

[pipeguy]

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@Anonymous wrote:

Hi I just closed a few credit cards. Will that hurt my AAoA? or will they keep aging?

 Update* Just searched and found out they do age for 10 years.

When applying for credit, will they take into consideration these closed accounts though? 

 For almost all basic credit inquiries such as credit cards, very few are reviewed by a person except on a recon - the "computer" might  look at your AAOA, but in general looks at your score and amount of debt witch results in a yes/no and an credit limit/apr rate. Some Credit Unions (mostly smaller) will eyes on review and when you get a 24 or 3 day message, someone will look it over or needt verify something. Mortgage applications are much more detailed and eyes on they I wouldn't call a mortgage a basic credit inquiry.  

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[Anonymous]

Yes, closed accounts are taken into account both for FICO scoring purposes and for situations when your credit file is being reviewed.

[Kforce]

Real "Fico" -- Yes

"Vantage FIco" -- No

Most of the time a computer program decides.

[Anonymous]

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@Kforce

"Vantage FIco" -- No

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The VS model does take into account closed accounts, just the front end software such that CK uses suggests that it doesn't.

[SouthJamaica]

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@Anonymous wrote:

Hi I just closed a few credit cards. Will that hurt my AAoA? or will they keep aging?

Update* Just searched and found out they do age for 10 years.

When applying for credit, will they take into consideration these closed accounts though? 

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Yes they do count as long as they stay on your report.

There's no guarantee that they will stay on your reports for 10 years though. They may and they may not.

[HeavenOhio]

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@SouthJamaica wrote:

There's no guarantee that they will stay on your reports for 10 years though. They may and they may not.

That's important to point out. I'd bet a twelve pack of my favorite beverage that they'll stay on my report, but I wouldn't bet the farm. Also, some accounts have been known to stick around for much longer than 10 years after they've been closed.

[kshurika]

The first Amex account that I closed is still on my TransUnion report and hugely increases my AAoA. Why? It's from 29 years ago.

[Anonymous]

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@kshurika wrote:
The first Amex account that I closed is still on my TransUnion report and hugely increases my AAoA. Why? It's from 29 years ago.

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I think WHY is an interesting question.  A cool reseach project for someone is to see if they could assemble some accurate data on people who have accounts on their reports with a Date Closed of > 11 years ago.  Info to collect would be credit bureau, Date Closed, and Date Opened, where the dates are as they appear on the report itself.

I wonder if there is some kind of pattern where most of these are ultra old accounts which somehow managed to slip under the CRA's radar, due to some fluke in how the databases were structured a long time ago.  In other words, maybe almost none of these accounts were opened after (say) 2005.

It does seem bizarre that CRAs would have accounts on their books after 10 years and 1 month.  You'd think there would be some kind of database routine that runs on a Sat night with a rule of "If Date Closed > 10 years ago, then delete."

PS.  I am not sure when you closed your Amex.  Strictly speaking you might have opened it 29 years ago and closed it 8 years ago, which is totally in keeping with the usual rule of it staying on the books for ten years after closure.  What is the Date Closed, according to the report?

[kshurika]

The only place I can get this info is Credit Karma, so it must be suspect. Card opened 32 years ago. Closed 14 years ago, but I haven't even been aware of it for about 28 years.