@Anonymous wrote:
My vantage scored increased 35 pts after my cc posted on my report and I’m now at a 717 (I have 2 get my FICO’s) but my AAOA dropped from 8yrs 8mths to 4yrs 5months. I only had my student loan on my account from 2011. Is this a really bad thing because I needed revolving accounts to help my score because it was stagnant.
Are your student loans closed or open? IIRC, VantageScore does not factor in closed accounts for AAoA.
So is this now your 1st/only revolving account? If so, the increase from adding the revolver may be enough to temper any loss that may come from reduced AAoA. You may only lose a few points, break about even, or even gain a few depending how the FICO chips fall on your profile.
Either way, it's something your profile needed - that's really how you have to look at it - a potential temporary loss for better, future gains.
Either way, it's something your profile needed - that's really how you have to look at it - a potential temporary loss for better, future gains.
Yeah.. the points from the inquiries will be regained on each bureau once they age to exactly 365 from the inquiry date.
Just try not to worry too much about points lost for adding your first few cards... you'll get them back as everything ages and your profile will be better for it.
Just try not to worry too much about points lost for adding your first few cards... you'll get them back as everything ages and your profile will be better for it.