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Improving Average Age of Account ?

Frequent Contributor

Re: Improving Average Age of Account ?

I would certainly like to see my older closed accounts show up for AAoA.

 

Thankfully, at the least, we get 10 years.

 

The other side of the coin - my bads dropped after 7+ years.

 

Happy it is not reversed...

"I am not young enough to know everything" OW

Low 589 Apr 2013 - Current Fico: Ex 793, Eq 787, TU 789
Message 11 of 12
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Valued Contributor

Re: Improving Average Age of Account ?


RobertEG wrote:

One factor in the scoring of AAoA that really, in my opinion, is unfair stems from the CRA policy of arbitrarily deleting accounts that have been closed for approx. ten years.

 

While I understand the CRA position in wanting to retrieve database capacity, and their assumption that accounts closed for ten years have likely already had all derogs exlcuded from credit reports, and thus have dubious value to the customers, that assumes that only creditors are their customers.

We consumers are ignored in their decision to delete, and its clear affect on AAoA and oldest account in length of credit scoring.

 

Accounts subjectively deleted by the CRAs are almost always older than the consumer's current average age of accounts, and thus their deletion will lower consumer AAoA, and often also remove their oldest account. Consumer affect is ignored by the CRAs.

Perhaps they could restain only the account name and open date, thus permitting the continued scoring of its age.........

 


Excellent point Robert. It Does seem rather arbitrary to delete after ten years. Another  indicator the cra's work almost to the exclusive benefit of the banks and lenders. 


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 12 of 12