FICO Question On AAOA Variations

[Revelate]

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@Thomas_Thumb wrote:

Factors shown in above Fico slide. Link provided above the slide. 

I think you and Liz should meet. Perhaps my-own-fico can arrange it. 

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Grin.

I'd missed a part of that slide before, may thanks for pointing out my error on that one.  Now I understand your questions on the 30 day late, but I'm a little more curious on extending that to 60 or even 90 days... where the deliquency ends and where the derogatory starts would be kinda clutch for figuring out bucketing as a whole based on that slide which I have to take as being vague enough to being 100% precise it not fully accurate if that makes sense in this context.

I was just going to let the Cali tax lien ride but there's a non-zero chance I can get it off a bureau from EE before my 60 day late gets excluded and so I will likely pursue that, and that would be a more interesting datapoint than the 30 day late which will be hanging out on TU for a while at least in the short term... actually enhances it too, old near dead late, vs. comparitively recent at that point.  Ah well, never get to stop learning heh.

Anyway thanks again!

[Thomas_Thumb]

You're welcome.

Hope you find the link helpful.

[CreditMagic7]

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@Anonymous wrote:

Hi CM.  My understanding is that age is indeed evaluated in terms of integer year values.  So any age factor between 4.1 and 4.9 is treated the same, as is any age between 14.1 and 14.9 (etc.).

The lower an integer happens to be, the more likely it is that it could be some kind of break in a FICO algorithm.  Thus, going from 1.9 to 2.1 is almost certainly an AAoA break, and the same for 2.9 to 3.1.   But when you get much beyond 2, 3, 4, etc. you get these breaks more rarely.

As a practical question, it certainly seems like it makes a lot of sense to stop applying for cards for at least the next four months.  You have a boatload already, right?  And you seem to have a strong desire to see your score to go up.  So wait until both ages are a month above an integer and see what happens.

PS.  I am curious to hear what your experience is with the CSP.  You mention that you were choosing long term keepers.  Is the $95 annual fee really worth it?  I am not saying it's not -- just curious to hear your thoughts.  My only AF keeper card is my Amex BCP, and that's because I buy a lot of groceries and Amazon at 6%.

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To be precise to that particular reference and as it stands to date:

• 30 Open Accounts (29 Cards) (1 IL)
• 27 Closed Accounts (24 Cards) (3 IL)
• Newest Account (Alliant SSL) Opened 1/2016
• Oldest Account (IL) Opened 9/2011

So there it is in a nutshell or brief if you will. A relatively young file but also saturated and weighted for adding thickness.

Somewhat unrelated but to the end of building an early profile in as fast a track as possible within reason, i have made it a common practice of mine going forward (so far to date) to also ensure (various) usage of reporting balances on a portion (less than half) of some active cards over a stretch of months before actually zeroing them out. I picked up what i consider a tip to practice with from an underwriter's perspective on his suggesting some lenders tend to favor certain carrying balances (<30%?) over a set period (45-90-120-etc) with a consistency pattern of sorts before PIF, which also is categorized as a revolver, which obviously lends itself well enough that the bank makes a marginal/reasonable? profit during that period.

I deliberately avoid the PIF all the time every time in an effort to slowly but effectively at some point later in time of transitioning completely over to a PIF practice but this method is been most helpful for me in determining lenders expectations criteria and more effectively, if even generally, measuring some of their own thresholds that might meet to their satisfaction when it comes to CLI's, APR reductions etc.

On select other cards the practice is just the opposite to establish a repeating transactor method of usage with those cards then PIF before statement cut, in essence, applying some variety to the overall picture/file in an effort to mix n match for lack of a better term and maximize potential where it exists.

But more back on the topic at hand, adding this number of cards within the range of time which i had is also come with a cost of a persistent soft AAOA and am hopefully gaining some firmness and courage this time around to at least press ahead in this direction to try to lift the AAOA beyond where it seems like it's been stalled out at for all of this building period of mine.

And these same lenders with pouring in these new offers every so many months is not making this task any less challenging for me.

I sit with (2) bonified newest preapprovals to chew on while posting this. Having been victim of my own share of high APR approved bank cards and only now receiving invitations for around 10% APR's with 18 month 0% promos is a belly full to work off.

[RonM21]

There is a lot of data provided here to work off of. I wondered about the answer to this question also. I'll just use what everyone provided for my info on it. Seems like it goes way deeper than I thought,

[CreditMagic7]

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@RM21 wrote:
There is a lot of data provided here to work off of. I wondered about the answer to this question also. I'll just use what everyone provided for my info on it. Seems like it goes way deeper than I thought,

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This area of the forums is best IMHO on strategizing a solid n reliable scenario for managing your credit profile to it's highest potential in line with the current ruleset of FICO scoring methods..

A treasure chest of useful data for sure and plenty of deeper examination and shared results.

AAOA is just one aspect of the overall picture that demands special consideration going forward. The basics are just fine but the analytics is where it gets dicey and most interesting.