is there an aspect of FICO score that credit limit weighs the age of accounts?
For example, all else being equal, I would expect:
It's better to have a 10 year account with $20k limit and a 2 year acount with $5l limit than:
10 year account with $5k limit and a 2 year account and a 2 year account with $20k limit
Or does it not matter whatsoever in scoring?
Similarly I am cusious if these old account are weighted less somehow if we don't use them actively, or the volume of purchases?
Thanks
@PointLager wrote:is there an aspect of FICO score that credit limit weighs the age of accounts?
For example, all else being equal, I would expect:
It's better to have a 10 year account with $20k limit and a 2 year acount with $5l limit than:
10 year account with $5k limit and a 2 year account and a 2 year account with $20k limit
Or does it not matter whatsoever in scoring? AFAIK this does not enter enter Fico scoring.
Similarly I am cusious if these old account are weighted less somehow if we don't use them actively, or the volume of purchases? Voiume (number of) of purchases isnt a Fico score point, not sure on current or inactive account.
Thanks
