The time since your most recent account opening is very recent
The length of time your accounts have been established is relatively short
You have a relatively high number of accounts with balances
The length of time your revolving/charge accounts have been established is too short
The length of time your revolving/charge accounts have been established is too shortI don't know if they are shown in the order of impact, but what is most interesting is #4.We have all heard of Age comprising of: Total length of history and average age.....but I don't recall reading that average age is broken down into sub-categories as well.
You have not established a long revolving credit history.
|Your first revolving account was opened|
7 Years ago
|FICO High Achievers opened their first revolving account 19 years ago, on average.|
Notice there is no mention of average age of revolving accounts, only the length time since my first revolving account was established.
I don't have any "hard" info on this. I'm not sure it's even been discussed here at any great length, but given the extent to which revolving plays a much larger role in all aspects of FICO scoring, I think we can assume that the age of one's first revolving account weighs more heavily than the age of one's first installment account.
Thanks for the info Cheddar. Do we know if revolving age is weighted equal or more heavily than installment age in the total age component?
Quote:You have an established credit history. Your oldest account was opened
20 Years, 8 Months agoFICO High Achievers opened their oldest account 19 years ago, on average.