AAoA Benchmarks???

[Anonymous]

Wondering if there are important benchmarks for AAoA?

3yrs? 5yrs? 7yrs? 10yrs?

My EQ FICO has AAoA at 8yrs.  Looking to app soon, perhaps for as many as 3 new accounts, but I don't want to dilute my AAoA too much.

[android01]

According to this website, most FICO "high acheivers" have AAoA between 6-10 years.  So I'm thinking that 6 years might be a milestone, and anything over 10 is probably another.  

[MarineVietVet]

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@android01 wrote:

According to this website, most FICO "high acheivers" have AAoA between 6-10 years.  So I'm thinking that 6 years might be a milestone, and anything over 10 is probably another.  

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It's actually 6-12 years. This can be found here: Characteristics of FICO High Achievers.

[Smug]

Now are we looking at all accounts open and closed or just open???

[TangMeister]

If you have the credit length of history (@ 19+ yrs), then one milestone is:

Going from 6yrs AAoAs to 7yrs AAoAs moves your Length of Credit History from "very good" to "great" on FICO 04 for EQ. 

So I try to stay above 7 yrs AAoAs now, and time my new apps appropriately. 

[TangMeister]

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@Smug wrote:
Now are we looking at all accounts open and closed or just open???

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all the accounts in your credit file.

[webhopper]

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@Anonymous wrote:

Wondering if there are important benchmarks for AAoA?

3yrs? 5yrs? 7yrs? 10yrs?

My EQ FICO has AAoA at 8yrs.  Looking to app soon, perhaps for as many as 3 new accounts, but I don't want to dilute my AAoA too much.

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When my AAoA was at 6 yrs, I got the Fico Good rating on Length of history.   Now that it dropped to 5 yrs because of my new accounts i get a Not Good rating.   I think 6 yrs is a benchmark for Good. and 8 yrs is for Very Good

[android01]

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@MarineVietVet wrote:

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@android01 wrote:

According to this website, most FICO "high acheivers" have AAoA between 6-10 years.  So I'm thinking that 6 years might be a milestone, and anything over 10 is probably another.  

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It's actually 6-12 years. This can be found here: Characteristics of FICO High Achievers.

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OOOps.  My bad!  That's what I get when I try to recall things from memory without looking! 

[KBraggs]

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When my AAoA was at 6 yrs, I got the Fico Good rating on Length of history.   Now that it dropped to 5 yrs because of my new accounts i get a Not Good rating.   I think 6 yrs is a benchmark for Good. and 8 yrs is for Very Good

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Nah. I have AAoA 3.5 years and a FICO lists that as "Good" under length of history. Oldest account 10 years. I think it just depends on your mix.

[webhopper]

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@KBraggs wrote:

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When my AAoA was at 6 yrs, I got the Fico Good rating on Length of history.   Now that it dropped to 5 yrs because of my new accounts i get a Not Good rating.   I think 6 yrs is a benchmark for Good. and 8 yrs is for Very Good

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Nah. I have AAoA 3.5 years and a FICO lists that as "Good" under length of history. Oldest account 10 years. I think it just depends on your mix.

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Nvm, I was mistaken, it was the New Accounts tab that went from Good to Bad LOL... I added quite a few new accounts, so far i've seen an 8 pt drop, but I'm waiting for my util% to even out, I messed up and let a balance report on the new accounts.  I'm new at trying to pay before statement cuts.