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AoYA hit???

Established Contributor

AoYA hit???

My AoYA is 4 mos. Will the hit be minimal, once my new card hits?(edited to add needed info below)

current scores/inq's in siggy

 

 

EX

AoOA 5ys 3mos

AAOA 2ys 2mos

AoYA 4mos

2 coll=1 6.5yrs old/1 8mos old

3 CO(1 paid)2=4yrs old

 

TU

AoOA 9yrs 9mos

AAOA 2yrs 9mos

AoYA 4mos

1 coll=8 mos old

3 CO(1 paid)2=4yrs old

 

EQ

AoOA 9yrs 9mos

AAOA 3yrs

AoYA 4mos

1 coll=8 mos old

3 CO(1 paid)2=4yrs old

 

Let me know if I'm missing anything???

 




Starting FICO 8 Score: EQ 491
Stating FICO 8 Scores 03/17/2018
TU 483 EX 527 EQ 491
Current FICO 8 Score:
EQ 578
Goal Score: 600(within a year)


Take the myFICO Fitness Challenge














24 REPLIES
Established Contributor

Re: AoYA hit???

I don’t really know the answer, but my youngest is 4 mos too and I haven’t seen any change in it going from when it was 0 mos to where it is now. I think I would be more worried about the average age going under 2 years. I think I remember seeing somewhere that is a factor. It looks like you may get under that with a new account.

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 02/13/19:


Goal Score: 750+
Message 2 of 25
Established Contributor

Re: AoYA hit???


@dynamicvb wrote:

I don’t really know the answer, but my youngest is 4 mos too and I haven’t seen any change in it going from when it was 0 mos to where it is now. I think I would be more worried about the average age going under 2 years. I think I remember seeing somewhere that is a factor. It looks like you may get under that with a new account.


Thanks, dynamic.

 

Well, I ALREADY plugged the "new"(Cap1) card into AAOA. I am just trying to see if anyone knows the "estimated" impact of going from AoYA @4mos to AoYA @ 2mos(since Cap1 will report @ month 2) with information provided?? 

 

It might just be a generic answer.../YMMV?

 

 

 

Definitely appreciate the reply, thoughSmiley Happy




Starting FICO 8 Score: EQ 491
Stating FICO 8 Scores 03/17/2018
TU 483 EX 527 EQ 491
Current FICO 8 Score:
EQ 578
Goal Score: 600(within a year)


Take the myFICO Fitness Challenge














Message 3 of 25
New Contributor

Re: AoYA hit???

@

 

"My AoYA is 4 mos. Will the hit be minimal, once my new card hits?(edited to add needed info below)

current scores/inq's in siggy

 

 

EX

AoOA 5ys 3mos

AAOA 2ys 2mos

AoYA 4mos

2 coll=1 6.5yrs old/1 8mos old

3 CO(1 paid)2=4yrs old"
-------------------------------------------

My hope is you can gain something from all this, or at least ...someone else can?

 

my profile is a little different than yours.

 

I just Finished a Massive "App O Rama" spree

added 12 new CC's in 4weeks (about 4 cards Amex & USBank have not reported yet, although I Have been using them)

EX 20 inquiries 24mos, yes 20 / didnt do the math on the last 12mos

overall Util = 12% Credit Usage

Oldest Acct. 34yrs

Average Age of ALL 3.9 years (after spree)

AoYA 0mos

2 30day lates 1=12/31/13 (My Screw Up) & 1 =12/2016 (Hospitalized)

1 Paid Child Support Derog. (X-wife filed bogus paperwork, took 6 months to get court date, I didnt owe!)

I have only seen a 9 point drop in My EX FICO8
ZERO AA in any Accounts including "Chase"

EX FICO8 Beginning of "App O Rama" Spree = 704 >> (I Think or real close)
EX Current as of Today 2/2/2019 = 695

havent really calculated EQ and TU yet..

 

Edited:

6 paid auto Loans Reporting totalling $200K+

No Mortgage / Paid house off in 2005

No Personal or Self Lender Loans

Income = Ability to pay ALL CL's/SL's (if Maxed all of them out) In 2 Months.

True Stated Income!

 

I am NOT reccomending an "App o Rama" spree like mine,

as some CCC's will take AA for "Credit Seeking" ,  "Too Many Inquires" & "Too many new accounts"

 

as always, YEMV/YMMV

Message 4 of 25
Established Contributor

Re: AoYA hit???


@Credit_Aholic wrote:

@

 

"My AoYA is 4 mos. Will the hit be minimal, once my new card hits?(edited to add needed info below)

current scores/inq's in siggy

 

 

EX

AoOA 5ys 3mos

AAOA 2ys 2mos

AoYA 4mos

2 coll=1 6.5yrs old/1 8mos old

3 CO(1 paid)2=4yrs old"
-------------------------------------------

My hope is you can gain something from all this, or at least ...someone else can?

 

my profile is a little different than yours.

 

I just Finished a Massive "App O Rama" spree

added 12 new CC's in 4weeks (about 4 cards Amex & USBank have not reported yet, although I Have been using them)

EX 20 inquiries 24mos, yes 20 / didnt do the math on the last 12mos

overall Util = 12% Credit Usage

Oldest Acct. 34yrs

Average Age of ALL 3.9 years (after spree)

AoYA 0mos

2 30day lates 1=12/31/13 (My Screw Up) & 1 =12/2016 (Hospitalized)

1 Paid Child Support Derog. (X-wife filed bogus paperwork, took 6 months to get court date, I didnt owe!)

I have only seen a 9 point drop in My EX FICO8
ZERO AA in any Accounts including "Chase"

EX FICO8 Beginning of "App O Rama" Spree = 704 >> (I Think or real close)
EX Current as of Today 2/2/2019 = 695

havent really calculated EQ and TU yet..

 

I am NOT reccomending an "App o Rama" spree like mine,

as some CCC's will take AA for "Credit Seeking" ,  "Too Many Inquires" & "Too many new accounts"

 

as always, YEMV/YMMV


Thanks, Credit_Aholic.

 

I'm beginning to think there may not be much of a hit as I keep thinking there might be...

 

Congrats on the spree!

I'm not much of a spree kind of guy really. Even if my scores/profile could support it-Iwouldn't do it. I say that but, maybe when I'm in the high 700's??Smiley Very Happy

 

thanks againSmiley Happy




Starting FICO 8 Score: EQ 491
Stating FICO 8 Scores 03/17/2018
TU 483 EX 527 EQ 491
Current FICO 8 Score:
EQ 578
Goal Score: 600(within a year)


Take the myFICO Fitness Challenge














Message 5 of 25
New Contributor

Re: AoYA hit???

you are welcome, keep us updated, as I'm trying to learn.

 

I go on a Crazy App spree all at once (some do not reccomend)

but I know at the beginning of next year, all those 12 month inquiries no longer count against your score, unless something changes.

I am going to work on Gardening, Reading, learning more about FICO8 Score Modeling, get my scores up to 760-780

and add some low interest credit union card's to the mix. this month, i will pay down my overall Util. below 8.9%

probably to 6% ...Everything i'm using is 0% BT's & Amazon Promotional till like Sept. of 2020.

so I am currently NOT paying any Interest. also probably weed out a few cards over time, if I dont like the way they're treating Me.

Message 6 of 25
Established Contributor

Re: AoYA hit???


@Credit_Aholic wrote:

you are welcome, keep us updated, as I'm trying to learn.

 

I go on a Crazy App spree all at once (some do not reccomend)

but I know at the beginning of next year, all those 12 month inquiries no longer count against your score, unless something changes.

I am going to work on Gardening, Reading, learning more about FICO8 Score Modeling, get my scores up to 760-780

and add some low interest credit union card's to the mix. this month, i will pay down my overall Util. below 8.9%

probably to 6% ...Everything i'm using is 0% BT's & Amazon Promotional till like Sept. of 2020.

so I am currently NOT paying any Interest. also probably weed out a few cards over time, if I dont like the way they're treating Me.


Well, you'll definitely be on your way gardeing-smart moveSmiley Wink

 

Definitely the Best of Luck to ya!!

 

I'll add an update here once the new account hits and see what happens to my scores/changes. Hopefully, it'll help someone else a lil(?)




Starting FICO 8 Score: EQ 491
Stating FICO 8 Scores 03/17/2018
TU 483 EX 527 EQ 491
Current FICO 8 Score:
EQ 578
Goal Score: 600(within a year)


Take the myFICO Fitness Challenge














Message 7 of 25
Super Contributor

Re: AoYA hit???

An AoYA drop of 4 months to 2 months is likely a non-event.  Not only will it not impact your scores much, IMO it won't adversely impact your scores at all.  If there is a 3 month threshold (which I don't believe, but some do) you'd see whatever point drop you experience come back on the 1st of the following month.

Message 8 of 25
Established Contributor

Re: AoYA hit???


@BrutalBodyShots wrote:

An AoYA drop of 4 months to 2 months is likely a non-event.  Not only will it not impact your scores much, IMO it won't adversely impact your scores at all.  If there is a 3 month threshold (which I don't believe, but some do) you'd see whatever point drop you experience come back on the 1st of the following month.


Thanks, BBS.

 

...and that's kind of what I'm thought/hoping for anyways...IF there will be that(?) actually factored...?

 

I'll know here in a few days when EX updates(it's usually 1st to update)

 

Thanks again, BBS

 




Starting FICO 8 Score: EQ 491
Stating FICO 8 Scores 03/17/2018
TU 483 EX 527 EQ 491
Current FICO 8 Score:
EQ 578
Goal Score: 600(within a year)


Take the myFICO Fitness Challenge














Message 9 of 25
Established Contributor

Re: AoYA hit???

Generally, AoYA going from 4 months to 2 wont have an impact. AAoA is what would factor more. Simple example below -
Card 1 - 60 months old.
Card 2 - 36 months old.
Card 3 - 12 months old.
In this scenario - the AAoA is 36 months.

If we change card 3 to 1 month..
Card 1 - 60 months old.
Card 2 - 36 months old.
Card 3 - 1 month old.
AAoA now is 32 months (2 years, 8 months).

Once you get under an AAoA of 2 years is when the impact to your score is more. As long as it's over 2 years, generally the impact is minimal, plus with every passing month, the impact lessens and your score grows. In your case, as long as you have enough old accounts to counter act the young account, you should be okay.
Message 10 of 25