@Themanwhocan wrote:
@yapsalot wrote:
I tried to get a computer wiz I know to make an Excel spreadsheet to calculate AAofA, not just for now but for dates in the future, and he wasn't able to incorporate the feature of calculating AAofA for a future date, so I abandoned that effort. From now on, am just going to accept whatever the commercial sites say my AAofA is. Sorry I can't contribute meaningful data points but my data is all over the place and isn't making sense during this period of rapid changes to my credit profile.
I came up with an Excel spreadsheet that can make that calculation for you: http://www.tc.umn.edu/~lemay/future-AAoA.xlsx
It has some of my card data in it right now as an example. Basically, the Drop Date is the date the credit line will drop off of your credit reports, leave it blank if the card is still open. The Todays Date column is obviously whatever date you want to calculate the AAoA for, just edit the first date as all the others auto fill from that one.
Then it calculates the age of each credit line, and then half of the magic is when it calculates the Credit Report Age, which is to say it copies the previously calculated age unless todays date is past the drop date, then it leaves it blank. The other half of the magic is in the Excel Average() function, which ignores blank fields, so the sum of the Credit Report Ages is divided by the number of ages that are not blank (which solves another major hassle...)
Hopefully this is useful.
Super usefull actually! I was really dreading doing this, but my AAoA will drop from 6.7 yrs to 2.2 yrs next month 
That should be a nice drop, along with the drop for a bunch of new accounts.... And it will stay around that for 2 more years as the old good closed accounts fall away.
@gfab2000 wrote:
@Themanwhocan wrote:
@yapsalot wrote:
I tried to get a computer wiz I know to make an Excel spreadsheet to calculate AAofA, not just for now but for dates in the future, and he wasn't able to incorporate the feature of calculating AAofA for a future date, so I abandoned that effort. From now on, am just going to accept whatever the commercial sites say my AAofA is. Sorry I can't contribute meaningful data points but my data is all over the place and isn't making sense during this period of rapid changes to my credit profile.
I came up with an Excel spreadsheet that can make that calculation for you: http://www.tc.umn.edu/~lemay/future-AAoA.xlsx
It has some of my card data in it right now as an example. Basically, the Drop Date is the date the credit line will drop off of your credit reports, leave it blank if the card is still open. The Todays Date column is obviously whatever date you want to calculate the AAoA for, just edit the first date as all the others auto fill from that one.
Then it calculates the age of each credit line, and then half of the magic is when it calculates the Credit Report Age, which is to say it copies the previously calculated age unless todays date is past the drop date, then it leaves it blank. The other half of the magic is in the Excel Average() function, which ignores blank fields, so the sum of the Credit Report Ages is divided by the number of ages that are not blank (which solves another major hassle...)
Hopefully this is useful.
Super usefull actually! I was really dreading doing this, but my AAoA will drop from 6.7 yrs to 2.2 yrs next month
Whups, you may want to download a new copy of the spreadsheet...
Now, you can add future dated credit lines as well, and they won't be considered until Open Date is older than Todays Date. So you can have both credit lines that disappear at a future date, and credit lines that suddenly appear at a future date.
need i say more?!?!
btw mine didn't cross an integer. it dropped at exactly 3yrs AAoA (EX). *fwiw, my TU is only at 2yrs. 'will post the score change when it updates. hoping to see the same positive result.
basically no other changes except for the SSL. before and after: <2% total utilization. 5 out of 8 CC reported with balance. highest at 4%.
needless to say, im very happy with the result! thanks to everyone that contributed esp to CreditGuyInDixie! =)
i highly recommend this technique for people that don't have an open loan installment. i almost broke 800 score just by adding this loan! i still can't believe it! =D for the most part, my score hovered around 755 +/- 10pts. now 800 is within real reach. i didn't even know it was possible in my case as i've only paid attention to my credit profile less than 6 mos ago. so, yey for this newb for learning a thing or two! =p
@Anonymous wrote:need i say more?!?!
btw mine didn't cross an integer. it dropped at exactly 3yrs AAoA (EX). *fwiw, my TU is only at 2yrs. 'will post the score change when it updates. hoping to see the same positive result.
basically no other changes except for the SSL. before and after: <2% total utilization. 5 out of 8 CC reported with balance. highest at 4%.
needless to say, im very happy with the result! thanks to everyone that contributed esp to CreditGuyInDixie! =)
i highly recommend this technique for people that don't have an open loan installment. i almost broke 800 score just by adding this loan! i still can't believe it! =D for the most part, my score hovered around 755 +/- 10pts. now 800 is within real reach. i didn't even know it was possible in my case as i've only paid attention to my credit profile less than 6 mos ago. so, yey for this newb for learning a thing or two! =p
Nice adjustment result for long term stability.
It's basically making full use of FICO's own rules to apply to our own profile (if) needed.
@yapsalot wrote:Hi gfab2000,
This is a brilliant spreadsheet!
I just tested it out on several sets of data from different providers and at different points in time. The spreadsheet worked flawlessly. What's particularly helpful is the ability to now determine, in just seconds, what our AAofA will be at any date in the future while taking into consideration both newly added accounts and those that will drop off because they have been closed.
Before I got the spreadsheet I could never reconcile my own hand calculations of AAofA with those put out by MyFico. They never matched. The spreadsheet helped me figure it out why. I have several authorized user accounts. As a test, I excluded the authorized user accounts from the spreadsheet. Voila! The spreadsheet calculated AAofA matched perfectly with the AAofA appearing on MyFico. So I can confidently say that the FICO algorithm excludes authorized accounts in the calculation of AAofA.
Thanks again!
Actually I wrote it (themanwhocan). Thanks for using it.
The ability to add future dated credit cards also means that you can set Today's Date to any date, including the past. As you go farther back in the past, you can see your newer credit cards disappearing from the calculations. So you can determine your past and future AAoA on any particular date, as long as you don't go back to before you had any credit at all, since the Excel average() function doesn't like averaging nothing...