Length of Account History Question?

[Anonymous]

FICO scoring incorporates both your length of credit history and AAoA into your score. IME lenders are primarily interested in your length of history, and only if it is short. Many prime CC issuers will not deal with individuals who length of history is shorter that two years. There is, however, no general statement that will apply to all issuers. Every issuer has their own process for evaluating applicants.

[Anonymous]

Ok thanks thats what i needed to know.

[Anonymous]

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@smallfry wrote:
Should go from not good to good at the 3 year mark.

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Thanks smallfry - that's a big help.  I've been wondering this for awhile.

Any reports from myficoer's on score hits when you drop below 3 to 2 years?

I also think there's another "bird" in the Short Credit History "pie" on the myfico scales. 

My EQ says my number two negative is short credit history.  However,  

My Oldest account: 28 yrs.  (HIgh Achievers: 19 years)

My AAofA: 8 yrs.  (High Achievers: 6-12 years)

But I do have several new accounts, and my oldest accounts are no longer open.  So when I do the math my AAofA on OPEN accounts is 1.28 yrs - hence my Credit History is short and on the negative side of the scales even though I have a good Oldest Age and AAofA.

[Anonymous]

What else is listed as a negative reason for you. It is possible that you length of credit history is the worst thing on your CBR - and FICO has to report something unless your score is very high (like 800). If there isn't anything bad it lists the least good of the good. With your length of history and AAoA you are not being hurt.