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Average Age of Accounts and Authorized User.

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Established Member

Re: Average Age of Accounts and Authorized User.

Yeah, it was just a question so I could make sure I was understanding the concept. I can't let it be the one to carry a balance since it only reports to transunion unfortunately. Thanks! 

 

Message 11 of 22
Highlighted
Senior Contributor

Re: Average Age of Accounts and Authorized User.

Yes you understand and yes that’s another very good point.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.



RIP:






Scores updated May 2020, unless otherwise noted. 5 revolvers reporting a balance, where it's normally 1, but took an HP on EX.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 12 of 22
Highlighted
Established Member

Re: Average Age of Accounts and Authorized User.


@Birdman7 wrote:
When you close an account, it can stay on your CR for up to 10 years.

All accounts on your CR go towards your average ages. Therefore it can still theoretically contribute for 10 years. There have been reports of tradelines being removed in as little as a year, however.

Also while the AU account will factor in the older scores, there is no guarantee that it will count in version 8 and newer. (There is an anti-abuse algorithm designed to discourage tradeline renting.)

I’m sorry to come back right after leaving. I was wondering what you meant by this, will it not help my account? 

Message 13 of 22
Highlighted
Senior Contributor

Re: Average Age of Accounts and Authorized User.

Which part?

Both open and closed accounts factor into ages on fico scores. so regardless of whether you close it, it will still contribute to your age until it is removed. That can be up to 10 years, but sometimes it happens sooner. It will take away from your aggregate revolving utilization though.

authorized user accounts always count on the mortgage scores but they do not always count on version 8 and newer.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.



RIP:






Scores updated May 2020, unless otherwise noted. 5 revolvers reporting a balance, where it's normally 1, but took an HP on EX.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 14 of 22
Highlighted
Established Member

Re: Average Age of Accounts and Authorized User.

When do they and do not count for Fico 8? What's the key factor on it actually being accounted for?

Message 15 of 22
Highlighted
Senior Contributor

Re: Average Age of Accounts and Authorized User.

Starting with version 8, they included an anti-abuse algorithm. Nobody knows exactly how it works. Last name and address are best guesses.

Nevertheless if it flags it, you don’t get credit for the account. If it does not, you do. The only thing you can do is test it to see if it counts, you can’t make it count.

Read the scoring primer linked at the top of my signature for more detailed information.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.



RIP:






Scores updated May 2020, unless otherwise noted. 5 revolvers reporting a balance, where it's normally 1, but took an HP on EX.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 16 of 22
Highlighted
Established Member

Re: Average Age of Accounts and Authorized User.

I'm hoping that it counts toward my Fico 8. We share the same last name and address so hopefully it does. I'm reading it now on my way to work. 

Message 17 of 22
Highlighted
Senior Contributor

Re: Average Age of Accounts and Authorized User.

If you have the same last name and address you’ve got a pretty good shot!
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.



RIP:






Scores updated May 2020, unless otherwise noted. 5 revolvers reporting a balance, where it's normally 1, but took an HP on EX.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 18 of 22
Highlighted
Senior Contributor

Re: Average Age of Accounts and Authorized User.

One other quick note. When you check those dates under CK, keep in mind they may fluctuate a day or so, depending on the month.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.



RIP:






Scores updated May 2020, unless otherwise noted. 5 revolvers reporting a balance, where it's normally 1, but took an HP on EX.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 19 of 22
Highlighted
Established Member

Re: Average Age of Accounts and Authorized User.


@Birdman7 wrote:
One other quick note. When you check those dates under CK, keep in mind they may fluctuate a day or so, depending on the month.

I'm sorry, which dates? I'm a bit confused. 

Message 20 of 22
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