Question about Average Age of Account

sznthescore · ‎01-31-2022

So I'm sort of using my Student Loans to leverage my average of account which is about 4 years and some months. My question is, if I pay off the student loan would my average age of accounts be recalculated with my revolving credit information? My oldest revolving account is 1 year 10 months and my newest revolving account is 2 months. Oldest Student Loan is 11 years.

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thornback · ‎01-31-2022

Accounts closed in good standing remain on your reports, generally, for around 10 years - give or take. During this time they continue to age and be included in your AAoA (average age of accounts) and AoOA (age of oldest account). So no, paying them will not immediately affect age-related metrics - that won't happen til they fall off sometime down the road. However, if these are your only installment loans, paying them all off may result in a point loss for the lack of an active installment loan - so keep that in mind.

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SouthJamaica · ‎01-31-2022

@sznthescore wrote:
So I'm sort of using my Student Loans to leverage my average of account which is about 4 years and some months. My question is, if I pay off the student loan would my average age of accounts be recalculated with my revolving credit information? My oldest revolving account is 1 year 10 months and my newest revolving account is 2 months. Oldest Student Loan is 11 years.

No if you pay them off they will continue in your reports, and will stay there for probably many years. They will continue to be factored into your average age of accounts.

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folks19 · ‎02-05-2022

@sznthescore wrote:
So I'm sort of using my Student Loans to leverage my average of account which is about 4 years and some months. My question is, if I pay off the student loan would my average age of accounts be recalculated with my revolving credit information? My oldest revolving account is 1 year 10 months and my newest revolving account is 2 months. Oldest Student Loan is 11 years.

As other's mentioned, they will continue aging for up to 10 years, but eventually they will fall off. I would advise paying them down to less then $300 (or another small amount) so you can avoid interest, but keep them open so you can benefite from the aged account for as long as possible.