Where is the best place to see what Experian is using for AAoA? Currently subscribed to Experian and getting daily updates. EQ and TU I get monthly. Score drops are starting to hit from apping and opening new credit card accounts. Curious to see how much I'll drop in total and when to expect the points to be recovered.
Here's an overview of my beginning EX profile - Started out before apping at 808 on 12.12.21
- 7 Total Open Accounts
- 8 Total Closed Accounts
- Oldest Account - 20 years 1 month
- AAoA - 10 years 8 months (I had to figure this out so might be off a few months)
- (5) revolvers with balances aggregate UTIL %37
- Current Installment Loan - Opened 12/2017 %29 balance left
- (3) Current Closed installment loans
- (2) Current Closed mortgages
- Current Mortgage opened 8/2019
12/13 - 2 HPs update and dropped 5 points to 803
12/14 - 3rd HP hit and dropped 6 points to 798
12/15 - First new CC account reported and dropped 12 points down to 785. AAoA dropped from 10 years 8 months to 9 years 6 months
12/18 - Balance UTIL on an account went from %47 to %62 and dropped me 5 points to 780
I'm looking at 3 more accounts opening and posting soon. Any idea what to expect? Will it take a full year to recoupe all the points or will they slowly come back?
@JFox418 wrote:Where is the best place to see what Experian is using for AAoA? Currently subscribed to Experian and getting daily updates. EQ and TU I get monthly. Score drops are starting to hit from apping and opening new credit card accounts. Curious to see how much I'll drop in total and when to expect the points to be recovered.
Here's an overview of my EX profile - Started out before apping at 808 on 12.12.21
- 7 Total Open Accounts
- 8 Total Closed Accounts
- Oldest Closed Revolver Kay Jewelers 11/2001
- Oldest Open Revolver 3/2005 (AU)
- (5) revolvers with balances aggregate UTIL %37
- Current Installment Loan - Opened 12/2017 %29 balance left
- (3) Current Closed installment loans
- (2) Current Closed mortgages
- Current Mortgage opened 8/2019
12/13 - 2 HPs update and dropped 5 points to 803
12/14 - 3rd HP hit and dropped 6 points to 798
12/15 - First new CC account reported and dropped 12 points down to 785.
I'm looking at 2 more accounts (possibly 3) opening and posting soon. Any idea what to expect? Will it take a full year to recoupe all the points or will they slowly come back?
On the experian.com site go to > FICO scores > FICO 8 > score ingredients > length of credit history
I was 750's when I went on my spree 6 months ago with 3 cards and a loan. Went down to 730's and its a slow climb so far. Probably in a year or so to recover. AAoA well above 4-6 yrs still. But were all different.
@SouthJamaica wrote:
@JFox418 wrote:Where is the best place to see what Experian is using for AAoA? Currently subscribed to Experian and getting daily updates. EQ and TU I get monthly. Score drops are starting to hit from apping and opening new credit card accounts. Curious to see how much I'll drop in total and when to expect the points to be recovered.
Here's an overview of my EX profile - Started out before apping at 808 on 12.12.21
- 7 Total Open Accounts
- 8 Total Closed Accounts
- Oldest Closed Revolver Kay Jewelers 11/2001
- Oldest Open Revolver 3/2005 (AU)
- (5) revolvers with balances aggregate UTIL %37
- Current Installment Loan - Opened 12/2017 %29 balance left
- (3) Current Closed installment loans
- (2) Current Closed mortgages
- Current Mortgage opened 8/2019
12/13 - 2 HPs update and dropped 5 points to 803
12/14 - 3rd HP hit and dropped 6 points to 798
12/15 - First new CC account reported and dropped 12 points down to 785.
I'm looking at 2 more accounts (possibly 3) opening and posting soon. Any idea what to expect? Will it take a full year to recoupe all the points or will they slowly come back?
On the experian.com site go to > FICO scores > FICO 8 > score ingredients > length of credit history
Wow didn't realize the site had so much more than the app. Updating original post.
After a little reading and some excel math I think I have it fairly close. Interesting that I'm an AU on my DW's Cap1 and that's not counted in average age of accounts or oldest account and also interesting that my oldest account is a closed retail card.
It looks like if two new cards hit my report that my AAoA will drop to around 7 years.
Average Age of Accounts is calculated as a simple, non-weighted average; it's the sum of the ages of your credit accounts divided by the number of accounts that you hold. Add up all the months then divide the number of accounts.
Expecting some changes in the next week or two. FNBO and FF will have higher UTIL since I did BTs on them but at least I'm getting 0% APR. That'll probably effect my score more than the new accounts posting.
FNBO Evergreen - 1/11/22 1st statement close
Freedom Flex - 2/8/22 First payment due so expecting statement close soon but can't find statement close info
Amazon Prime - 2/13/22 First payment due but same as above
Ok it looks like all the dust settled and now I know where I'm starting from. I refreshed my EQ and TU but it looks like one of my accounts hasn't updated yet even though it did on EX.
Started with EX 808 and %37 aggregate UTIL, AAoA 10 years 8 months.
Now I'm at EX 771 and %25 aggregate UTIL, AAoA now 8 years. (4 new accounts and 3 HPs)
Overall CL went from $43,100 to $79,700