I've been hovering at just over and just under 36 months on my average age of accounts, presently 2 months under at 34 months.
Since I've recently added some more useful accounts and dropped some less useful accounts, and don't need any credit, I'm in a good position to just bite the bullet, stop applying for new things for the next 3 months, and see what happens when, during a period of quietude, my AAoA slips back up to 36 or 37 months.
Now if I can only exercise some restraint.... not my strong suit.
@CreditMagic7 wrote:Hi SJ.
Your topic and expectation/results is of great interest to me on this end too.
After a quite chaotic and extended period of shaking out the laundry so to speak, have recently crossed my long awaited (2) year AAOA mark and after adding just one recent new account have all but reached as far as i need to go with fresh accounts for many months ahead (i hope).
I did notice some slight point net gain on eclipsing that first AAOA threshold and like you, will likely slip under (in my case 24 months) and will wait out the climb back across again.
Whoever it was that said this thing was a marathon not a sprint sure wasn't kidding.
Well my "expectation" is is a pickup of 5-10 points across the board, based on a general sense that that's what I lost when I slipped under 36 months. If I can actually wait 3 months before opening any new accounts it should be interesting to see what happens. I have 2 recent accounts which haven't reported yet so I really do need to take my hands off the trigger.
Yes time is important. My head tells me that just letting time pass is the most important thing I can do... but I'm not good at resisting the impulse to keep 'improving' my portfolio, to the detriment of my scores.
Wish I could learn to just stop meddling for awhile.
Will be interesting to see, I didn't gain anything on FICO 5 or FICO 8 at least for 3 years, your file and therefore your mileage will vary. Tried damned hard to find anything there too.
Now back at 35.86 on EQ/EX again with the recent First Tech / Chase and 33.75 with TU. Have assumed I'm rounding down to nearest month and dividing by 12 or otherwise just dividing by 12 and rounding down to nearest year so I'm back at 2 years and change.
Pretty certain I have to go to 4 or 5 years personally.
@Revelate wrote:Will be interesting to see, I didn't gain anything on FICO 5 or FICO 8 at least for 3 years, your file and therefore your mileage will vary. Tried damned hard to find anything there too.
Now back at 35.86 on EQ/EX again with the recent First Tech / Chase and 33.75 with TU. Have assumed I'm rounding down to nearest month and dividing by 12 or otherwise just dividing by 12 and rounding down to nearest year so I'm back at 2 years and change.
Pretty certain I have to go to 4 or 5 years personally.
Well now my expectations are tempered