Help with average age of accounts

[Anonymous]

I’ve got about 20 open and closed accounts of mixed types on my report. The oldest is around 16 years, this past year I applied for two credit cards from chase and bofa. I called the same day after being approved and canceled the application. However I have two new credit cards over the past 6 months opened and closed the same month.

How does that impact the calculation for length of credit history or does it? I feel like I can get them removed but wasn’t sure if it’s worth the time.

[Anonymous]

1) If you will remove your newest accounts it will affect positively. 
2) If you will remove your oldest accounts it will affect your AAoA negatively. 

it also depends on how many accounts do you have and when each was opened. 

[Anonymous]

Suppose your average age of accounts is 3.7 and you have 20 accounts.  That means your total age is 20 * 3.7 or

3.7 + 3.7 + 3.7 + ... + 3.7 (twenty times)

When you divide that number by 20 you get the average age of 3.7.

To make it more general, if your AAoA is X, your total age is 20x.

When you added two more accounts of age 0, your AAoA became:

20x + 0 + 0

-----------

    22

or 20x/22 or (20/22) * x or 90.9% of X.

[Anonymous]

Just curious, but why did you open accounts and close them immediately?

[SouthJamaica]

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@Anonymouswrote:
I’ve got about 20 open and closed accounts of mixed types on my report. The oldest is around 16 years, this past year I applied for two credit cards from chase and bofa. I called the same day after being approved and canceled the application. However I have two new credit cards over the past 6 months opened and closed the same month.

How does that impact the calculation for length of credit history or does it? I feel like I can get them removed but wasn’t sure if it’s worth the time.

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Any account which opened and reported is going to stay on  your report for awhile whether you close it or not. And you can't 'remove' it.