Found new info on how AAoA is scored.

[Booner72]

The walmart TU score says this about my score -  see the underlined sentence below (sorry posted weird).  I never knew FICO scored the age of the revolving account as part of scoring of AAOA.  I thought it was just all accounts in general.  Did you guys know this? 

Hope this might help someone figure out something somewhere along the way of understanding FICO's game.

		Your FICO ® Score measures the age of your oldest revolving account and the average age of your revolving accounts.    In your case, either your oldest revolving account was opened recently or the average age of your revolving accounts is relatively low. People who do not frequently open new accounts and have longer credit histories generally pose less risk to lenders.

[Booner72]

I need to add that I thought installment loans were part of AAoA.  That's why the big lightbulb moment.  I guess I've been wrong this whole time.  And I finally thought I was getting somewhere.

[MarineVietVet]

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@Booner72 wrote:

The walmart TU score says this about my score -  see the underlined sentence below (sorry posted weird).  I never knew FICO scored the age of the revolving account as part of scoring of AAOA.  I thought it was just all accounts in general.  Did you guys know this? 

Hope this might help someone figure out something somewhere along the way of understanding FICO's game.

		Your FICO ® Score measures the age of your oldest revolving account and the average age of your revolving accounts.    In your case, either your oldest revolving account was opened recently or the average age of your revolving accounts is relatively low. People who do not frequently open new accounts and have longer credit histories generally pose less risk to lenders.

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From What's In Your Score:

Length of Credit History

• 
  Time since accounts opened
• 
  Time since accounts opened, by specific type of account
• 
  Time since account activity

So yes the age of revolving accounts is scored but so is the age of all types of accounts. It's all part of AAoA.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[MarineVietVet]

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@Booner72 wrote:

I need to add that I thought installment loans were part of AAoA.  That's why the big lightbulb moment.  I guess I've been wrong this whole time.  And I finally thought I was getting somewhere.

---

They are. Your AAoA is the sum of the ages of every account (except CA collections and public records) on your report, whether open or closed, calculated in months, divided by the number of accounts and then divided by 12. I use the division by 12 to make it easier to convert into years. This is measured from the time each account was opened until present.

You’ll need to figure the age of each account, open or closed, on each report. If all three reports are identical (very unlikely), you're in luck; otherwise, you'll need to run this for each report.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[haulingthescoreup]

+1

I think that MVV already said this, lol, but basically you're talking about multiple score factors.

One is the longest history/ AAoA of all your accounts.

Another is the longest history/ AAoA of your revolving credit accounts.

So you can be high on longest overall history and low on longest revolving history, or high on longest overall history and low on AAoA of overall history, or high on longest revolving history and low on overall AAoA, and on and on and on.

Your overall credit history --revolving, mortgage, and other installment --is important in predicting your future consumer credit risk. Your revolving credit history is especially important in predicting your future consumer credit risk, because it's ever-so-easy to screw up your revolving credit, so extra attention is focused on your revolving history, which is way riskier for lenders.

[MarineVietVet]

As usual HTSU did a much better job of explaining this! 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

The FICO algorithms are phenomenally complex.  Some feel that FICO also includes AAofOpenAccounts in the AAofA segment.  Clearly, there's a lot of different data points in the category of AAofA.

And remember, Booner, that some folks think that Walmart's FICO may be a CC-enhanced FICO score.  If so, more weight may be attached to revolving accounts.

[Booner72]

Thanks MV and Beam!  I knew that my oldest account was this old 1997 student loan - that has been closed since 2001 and it still reports.  The news to me was that they calculate "revolving" accounts as part of their AAoA algorithm, vs ALL accounts together.  I just didn't know this.

Maybe this will lead to more clues on which TU score Walmart uses.  Maybe?

Anyway - Just working really hard to try to pin this thing down.  Have a great weekend you two.

[Anonymous]

Wait a minute.  Student loans count as revolving accounts?  What?

[Anonymous]

student loans are installment