AAoA FOR DUMMIES

[rom828]

I've read tons of posts on the subject of AAoA, but since I'm dealing with my usual credit paranoia, just want confirmation that I understand it correctly for my personal situation.  My current AAoA is 4 yrs 4 mos. Fell a little from where it was  because paid 1997 loan finally dropped and have some new accts this past year. 

I have 2 Orchard CCs, one opened 11-1999, the other 12-2005.  I want to combine (already checked-wont lose any CL since both are actual 'Orchard' cards) to the 2005 card since it's the one that doesnt have an annual fee.  I've tried numerous times to ask for waiver of AF to no avail.

If I'm understanding this correctly, the 1999 account will still be computed in AAoA until it drops, which would be about 2019 (no baddies..10yrs reporting).

Based on my current accounts, some will drop of between now and 2019 (paid  loans 2011,  2013)  leaving me w/average age of 14 yrs 1 month when this 1999 account drops off too.

With AAoA of 14+ yrs,  is there any real  negative to closing the 1999 account with the AF? 

[cobaltnv]

Keep in mind that accounts usually report for 10 years, but there is no legal reason they have to. EQ in particular has been dropping accounts early (sometime really early). IMO once you get your AAoA over ~6 or 7 years it is not such a big deal. Based on the comments in myfico reports high achievers have an AAoA of 6-12 years and an oldest account of 19 years. 

I despise AF on ccc, but that is just me. I would drop the account and not worry about it.

Cheers 

[rom828]

Right!  EQ dropped by 1997  Ford Motor  account early, but it is actually still showing on TU & EX.

I hope my 2019 I can finally be in the high achievers category !  

And the AF is exactly why I want to drop that card.  It's the only one I have that has an AF and since it's not going to have a real negative impact on AAoA, I can't see continuing to pay that AF.

Thanks for the input! 

[RobertEG]

As has been said, there is no way for you to determine when a closed account will drop from your CR.  Derog reporting is governed undre the FCRA, but not the time for which accounts closed in good standing remain.

CRAs will normally retain closed accounts for 10 years from date of closing in order to be certain that all of the derog reporting dates set forth in FCRA 605(a) have expired.

I personally have two accounts that were closed 15 and 20 years ago, and are still included in my CR, and contributing to my oldest account and AAoA.  But these could go poof at any time.  There is no rule, rhyme, or reason, and it is solely at the discretion of the CRA.

Consolidating the two Orchard cards probably wont result in the old accounts being dropped, but will most likely result in their reporting of a new account, since it will result in a new account number.  Their promise to retain the prior CLs does not mean that it will be the same account.