Age impact would happen whenever they fall off. We're they closed in good standing (As in, no late payments)?
You might take a temporary utilization hit since they'll be closed with a balance, but once you pay off the balance, your scores should recover.
@800goal800 wrote:There are a few lates from 2016 on one card. Nothing on other.
How would this impact AZEO ?
Well then those lates will hang around for 7 years from 2016, so until 2023. Depending on the nature of the lates (30, 60, 90+ etc.) they may or may not even be impacting much at this point.
AZEO will be skewed and basically impossible to implement until those 2 balances are paid off.
Open or closed affects util %'s. Once you pay off 3 of the 4 cards open/closed. Then All Zero Except One will be reached in a way but not true AZEO. Because 2 are closed. I know it sounds weird. Does that explain it? Once you get that done. Time for a 3rd card so you can stay at the real AZEO. Only have 1 report $20 and then PIF before the due date. And then you'll have less than 50% of cards reporting a balance. That pleases FICO and the real AZEO.
@800goal800 wrote:Cap One closed two accounts of mine for a returned payment. The return was for one account but they closed both.
I know closed accounts stay on for 10 years. When does the impact of age, average age, etc occurr ? Now or when they fall of ? How does this figure into AZEO if I still have a balance which I'm intending to pay.
1. 10 years is typical, but not guaranteed. Could be more or less time.
2. Impact on AAoA and AoOA doesn't occur until the closed account falls off your reports.
3. The balance continues to be reported until you pay it. More important than AZEO is the fact that the balance is a drag on your utilization, since the balance is factored in but the credit limit is not. So you should pay it off ASAP.
@800goal800 wrote:Let's say I have 4 cards...2 are now closed and 2 open. Will only the open cards be part of AZEO ? Or will all 4 cards ?
So if it's 2, one can have a balance and once can't. If it's 4, then I can and 3 can't.Trying to confirm if the closed card " count "
Well you already got several other responses to your question, but yes, AZEO counts all cards. That's why I said it'd be skewed because the closed accounts are basically maxed out accounts and therefore hurting utilization and messing up AZEO until they get paid off.