Credit cards AAoA more important than total Credit line (Utilization)?

[Anonymous]

So I have become somewhat of a churner these last few years...no thanks to you guys lol

So, I applied for 2 cards recently and was calculating/debating if I should close "newer" cards and take a hit with the CL being gone to recover my AAoA from my 2 recent cards? Credit karma says my AAoA is 1.5 years which is total bogus. My hard math shows 32 months with the new cards vs 39 months closing some cards. My credit score hovers in the ~770s

Thanks peeps

[gdale6]

Age (Length) of accounts is only 15% of the equation while utilization is 30%.

[Anonymous]

Closed accounts remain on your report for another 10 years from the date they are closed. So removing those two new accounts won't really help with your AAA since the closed accounts will still be factored in.

[Anonymous]

Credit Karma doesn't factor in closed accounts

[Anonymous]

What lender uses Credit karma scores?

[Anonymous]

Ok so this is new stuff to me. So how does credit karma scores come close to those fico scores reported by all my credit card companies (765 for all)?

Even after opening these "churning" cards recently in the last two years my credit score still keeps rising? I was around 720s back then.

[Revelate]

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@Anonymous wrote:

What lender uses Credit karma scores?

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VantageScore?  Chase for one historically, others presumably.  Makes up something like 10% of the pulls according to marketing sources from the bureaus and FICO, even if the lionshare of scores that lenders pull are never disclosed to us as consumers when we apply.

[Aahz]

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@Anonymous wrote:

Ok so this is new stuff to me. So how does credit karma scores come close to those fico scores reported by all my credit card companies (765 for all)?

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Purely coincidence.  Credit Karma scores (actually Vantage 3.0 scores) and true FICO scores (regardless of where you're seeing them)have absolutely zero correlation.  They are calculated on entirely different algorithms that weigh credit factors entirely differently.

[iv]

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@Aahz wrote:

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@Anonymous wrote:

Ok so this is new stuff to me. So how does credit karma scores come close to those fico scores reported by all my credit card companies (765 for all)?

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Purely coincidence.  Credit Karma scores (actually Vantage 3.0 scores) and true FICO scores (regardless of where you're seeing them)have absolutely zero correlation.  They are calculated on entirely different algorithms that weigh credit factors entirely differently.

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Very true - different models, different weighting factors, different scores.

(I was going to make a math joke about the correlation coefficient not being absolutely zero... but then I ran the math on a set of TU FICO 8 and TU VS3.0 scores.  And got an actual coefficient of 0.89. Huh. That's actually way more linear than I would have figured.)

Regardless - expect significant variation in actual scores between models.

[Thomas_Thumb]

A zero correlation would be scary - after all, a positive trend over time in one model usually translates to positive trends in other models.

Many factors are the same, just weighted differently. A lot is invested on the various flavors of credit scoring tools not being completely random. I would have been disheartened  if correlation came in under 0.8. Good to know it's not all random guesswork.