@Anonymous wrote:
@AnonymousKid2 Thank you! I am actually updating it now based on some info I just learned researching your situation. Occasionally you should probably scroll thru the first 8 posts and see if there is a recent update made and if so, read it again.
I'm far from flawless and am trying my best to correct any errors and add additional info.
Oh, I plan to keep reading this and following the links. It's great stuff. I am really curious to see if my question of if how many old derogs matter. Like if there's 1 CO or 20 COs all the same age, is there a breakpoint in there where the amount actually matters? I'm dirty with 1 anyway.
This is absolutely great work. Thank you everyone involved for putting in the time and effort.
One thing that I can definitely offer when it comes to AAoA is there appeared to be a breakpoint on my own profile about two or three years ago that was easy for me to reproduce since I was constantly getting new accounts at the time.
I would have been in a clean scorecard with recently opened revolving accounts. If I opened a new card and my AAoA fell below exactly 7 years, I would lose 10-20 points when opening a new account. If it remained over 7 years, I would see no loss at all or very minimal changes when opening a new revolving account.
I am not sure if that was due to rebucketing due to AAoA being below 7 years or if my particular bucket has a penalty imposed at 7 years but it was definitely real and the points would always come back as soon as another month or two had passed and AAoA was back at 7 years. That happened a number of times so it was definitely repeatable.
Because of the size of my file, a new account will generally only take a matter of weeks off of my average age and I'd have to open MANY new accounts to dip below 7 years again, but hopefully that helps.
@Anonymous wrote:
@K-in-Boston Thank you for the kind words.
AAOA is a scoring factor not a segmentation factor and should play no role in scorecard assignment, so no worries there.
If that is the case, then this a scoring factor.
With that said, 10 - 15 points is typical when moving in and out of a new account scorecard. When your youngest revolver turns 12 months of age +10-15; when a new revolver reports and you don't have one under 12 months of age -10-15.
So the questions become: did you have a revolver(s) under 12 months of age when your new revolvers reported and you lost points? And when you received your points back, did it coincide with your youngest revolver turning 12 months?
Yes to the first question. Numerous accounts under 12 months (several of which were later closed and merged into other existing accounts). I created the gardening club recycling bin as a poke at my inability to make it 3 months without a new account at the time. No on the second question. I have not had a youngest revolving account under 12 months since June 2015 when my Kohl's card turned a year old. That lasted until December 2015 when I found these forums, then myFICO Effect. My two most recently opened revolving accounts prior to Kohl's in 2014 were in 2012 (Amazon) and 2007 (Chase Freedom, or whatever the card was called then).
If the answer is yes to the first question, then it has to be an AAOA threshold (assuming no other aging coincidences), as there is no new account penalty when you already have a revolver under 12 months of age. This would make sense since AAOA thresholds are believed to be on the years and it's believed to top out at 7 years 8 months. Would also make sense to have a big award for the last or penultimate award. (Even though it's rare the algorithm makes sense, lol.)
While there may have been the occasional card turning 2 years old, the dips always happened when AAoA fell below 7 years and point gains would be had when AAoA reached 7 years. If I managed to wait 2 or 3 months between accounts and AAoA would fall from say 7 years 2 months to 7 years 1 month there was no scoring penalty or only a very minor one when a new revolving account would report. I definitely believe that in my scorecard, there is a 7 year threshold.
My current AAoA is 8y2m to 9y1m. Equifax is lower due to several AU accounts (some as early as 1994) that began to randomly disappear and reappear from time to time over the past few years. Interestingly, there were two times about a year ago when all 8 of them disappeared and I got a decent score jump on Equifax. All of my own 90s accounts have aged off of my credit reports, so AoOA went from 25 down to 18 years last year (on EQ alone), which makes me think there may be a different clean scorecard for AoOA somewhere between 18 and 25 years as there were no other real changes and everything else other than EQ's disappearing AU accounts is mostly the same between all 3 bureaus (a handful of accounts that only appear on 1 or 2 CRAs). (25+ is often listed as the ideal for age of credit history on monitoring sites, so that's quite possible.) It was just odd since I would have expected a decrease in score not an increase. So my risk was lower for someone with only 18 years left on their reports than when compared to others with 25 years.
If the answer to the first question is no and the answer to the second question is yes, then it was probably scorecard reassignment in and out of a new account scorecard.
N/A
Please advise and if it's not possible that it was a new account reassignment penalty, I will add it to the primer as a believed threshold. Now that I think about it, I believe I confirmed one at 6 years a while back too that should be added. I'll have to go double check when I get time.