Help: AAOA Timeline, Effects on Score

[Anonymous]

Hey Folks,

Just wondering if anyone can tell me what the timeline marks for AAOA are in terms of it effecting FICO scores?

In other words, does one get a boost at the 2 year mark and then the 5 year mark?

My AAOA was 4.9 years but I just opened severel new cards and expect it to go down when I get my next report on the 14th. I'm hoping to apply for a mortgage in 2020 or 2021 and just want a sense of what to expect as my new cards age and the AAOA increases or even just gets back to where it was before I opened these new accounts.

[Anonymous]

Good question, SillyGoose. I don't know where the breakoff points are for AAoA, but I am curious to know as well. I'm sure someone savvy will reply. 

[Anonymous]

Nobody really knows for sure, as far as I can tell.  What is known with certainty is that a number of people have confirmed that they obtained a FICO 8 score of 850 with an AAoA of 8.0.  And there are certain to be breakpoints in between 8 and 0.

Bear in mind that different scorecards could have different breakpoints.  (There are 12 different scorecards in FICO 8.)  And certainly different models could have different breakpoints as well.  E.g. the TU mortgage score (FICO 04), EX mortgage score (FICO 98), FICO 9 classic, and the various Auto and Bankcard flavors of FICO.

Also bear in mind that there are other age-based scoring factors besides AAoA.

Hope that gives some framework...

[Anonymous]

OP,

AAoA will not be a contraint to you in any way of obtaining a mortgage in 2020-2021.  If you apply for no new accounts between now and then, your AAoA would be top-notch at 7-8 years.  Top-notch in terms of FICO scoring [for the AAoA factor] as CGID touched on above.  If you apply for an account or two during the next 2-3 years, your AAoA may be say 6 years at the time of your mortgage app.  Honestly, the difference here and the amount that AAoA matters is very insignificant.  There are people with an AAoA of 2 years that have 800 scores; You can have an AAoA of 1 year and have a 740-760 score, which is more than enough to achieve the best interest rates on a mortgage.  If I were you, I wouldn't sweat "age of accounts" at all leading up to your mortgage, with the only asterisk to that statement being to ensure you AoYA is < 1 year when it comes time to submit that mortgage app.

[Anonymous]

Can someone please tell me where to find your AAoA? CK only does it for open accounts which I hear fico considers closed accounts as well. And when I check my discover score card it only shows age of credit history. Which is back with my first card 3+ years ago. Does anyone tell you your AAoA or is this something you have to figure on your own??

[Anonymous]

Nevermind .I found it on myfico .Never seen it before .I read it o a post a few posts down .Thanks anyways .