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Increasing AAoA

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Increasing AAoA

Will removing a closed retail CC from my report that was only open 6 months increase or decrease my AAoA?
Opened 7/2010
Closed 12/2010
Reported as all ontime payments 7/2010-12/2010
Is this helping me bc it has aged?
Starting Score: 543
Current Score: 711
Goal Score: 740

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Message 1 of 4
3 REPLIES 3
Moderator

Re: Increasing AAoA


@putthecashinthebag wrote:
Will removing a closed retail CC from my report that was only open 6 months increase or decrease my AAoA?
Opened 7/2010
Closed 12/2010
Reported as all ontime payments 7/2010-12/2010
Is this helping me bc it has aged?

If the account is removed from your reports, it will hurt your AAoA as an almost 9-year-old account will be gone.  How much it would affect it would be determined by your overall AAoA, number of accounts, etc.   Closed accounts help your FICO score's AAoA factor the same as an open account.  This is not true for Vantage scores so a place like CreditKarma may tell you that a closed account doesnt help your AAoA.  Basically, ignore that as Vantage scores are used very little by major creditors. Any account that shows online payments is helping your score and one that age is also helping because of the effect on your AAoA

Message 2 of 4
Community Leader
Valued Contributor

Re: Increasing AAoA

As soon as you open a new account, your AAoA is affected, even if the account is open for only a very short period of time. An account closed in good standing stays on your report for years though, so you won’t see any immediate effect. Honestly, I stopped worrying about AAoA a long time ago and I always close cards I don’t want or use.
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Message 3 of 4
Super Contributor

Re: Increasing AAoA

The only way removing a closed account will increase your AAoA is if the age of the closed account is younger than your AAoA.  If it's older than your AAoA, it will reduce it if removed.

 

An example of the removal of an account helping your AAoA would be if you were approved for a product last month which landed on your CR very quickly and you closed the account quickly as well.  Some people have called the lender and been able to get them to remove the account since it was very new.  In that case (which is very rare) it would improve that AAoA.

Message 4 of 4
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