Am i looking at a big drop in AOAA?

[Anonymous]

Hi Everyone

Some help please

Oldest account is 5 years 

Newest is 1 year 4 months ( Auto )

Have about 6 accounts ( 3 are about to hit 4 years in a month )

CK shows it as average 3 years 8 months ( Doesnt include closed auto that was 36 months )

Looking to add one new card now

Will I be looking at a huge drop in score? I most likely won't get hit with an IQ( amex card, already a member )

Thanks!

[Anonymous]

Amex is an easy get either way.  I don't see the concern with age at this point and to know the impact we would need more info about your complete profile w/ dates and such.  As long as you're not adding new accounts frequently it's not much of an issue that would force you into a different lower bucket for scoring.

Aging is like gardening as you go into your portfolio and pull the weeds every once in awhile things don't change much until they drop off in ten years.  Adding new plants can seem dramatic when you're looking at things like CK but, when you look at the overall picture w/o the marketing gimmicks of some sites it's not that bad.  

There's a big difference if you have 800 scores or 600 scores as to how dramatic the changes and fluctuations can be.

[SouthJamaica]

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@Anonymous wrote:

Hi Everyone

Some help please

Oldest account is 5 years 

Newest is 1 year 4 months ( Auto )

Have about 6 accounts ( 3 are about to hit 4 years in a month )

CK shows it as average 3 years 8 months ( Doesnt include closed auto that was 36 months )

Looking to add one new card now

Will I be looking at a huge drop in score? I most likely won't get hit with an IQ( amex card, already a member )

Thanks!

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1. Please forget about Credit Karma; its method of calculating average age of accounts, like most things on that site, is irrelevant to FICO scoring.

2. You will lose some points for resetting your age of newest account and lowering your average age of accounts. But so what? You will get them back.

[HeavenOhio]

Karma has nice credit reports, but forget about any scores, stats or advice that come with them.

[Anonymous]

My guess is that the AoYA drop from 16 months to 0 months would result in a greater score drop than whatever your AAoA drop would be.