I've never been too certain on when the age is considered good. I know mine right now is 3.8, and is still too new or young when looking at credit sites that I use.
@Anonymous wrote:
@Anonymous wrote:Currently rebuilding my credit. I've gotten my scores up to the 700 range, however my AAoA is currently sitting at 8 months.
I know 8 months is considered "Poor" according to CK. But what would I need my AAoA to be to be considered "Fair" or even "Good"?
And I just got approved for the Amex Delta Gold card, so I imagine that my AAoA will drop down to 4 months once that card shows up on my report :/
The first bump in AAoA for fico appears to be at 1 year (From other threads posted here). So until you hit the 1 year mark I would say you should consider it poor status, maybe even until after 2 years. All you can do to build AAoA is wait. Remember age is only 15% of your overall score.
Where have you seen that?
Historically it's been stated as 2 years and rounded down to the lowest year with a minimum value of 1 year effectively. This is somewhat illustration as it's hard to tease out AAOA changes without careful testing: didn't see a change at 1 on my profile, did get a change on 2 (worth 4 points on my file EQ 8) and saw nothing at 3 on any score version..
Sort of for illustration;
>2 years = fair
>~5 years = good
Maybe greater than 8 years = excellent, hard to say but you can hit an 850 with that, not sure you can at 5 years.
I believe 2 years is the category threshold for both CK and Fico for AAooA and AAoA, respectively. I couldn't find a category summary specific to AAoA for Fico but my guess is:
Poor = ............0 - 2 years
Fair = ..............2 - 3 years
Good = ...........3 - 5 years
Very Good =...5 - 8 years
Excellent =......8 years and above
@Anonymous wrote:
@Revelate wrote:
@Anonymous wrote:
@Anonymous wrote:Currently rebuilding my credit. I've gotten my scores up to the 700 range, however my AAoA is currently sitting at 8 months.
I know 8 months is considered "Poor" according to CK. But what would I need my AAoA to be to be considered "Fair" or even "Good"?
And I just got approved for the Amex Delta Gold card, so I imagine that my AAoA will drop down to 4 months once that card shows up on my report :/
The first bump in AAoA for fico appears to be at 1 year (From other threads posted here). So until you hit the 1 year mark I would say you should consider it poor status, maybe even until after 2 years. All you can do to build AAoA is wait. Remember age is only 15% of your overall score.
Where have you seen that?
Historically it's been stated as 2 years and rounded down to the lowest year with a minimum value of 1 year effectively. This is somewhat illustration as it's hard to tease out AAOA changes without careful testing: didn't see a change at 1 on my profile, did get a change on 2 (worth 4 points on my file EQ 8) and saw nothing at 3 on any score version..
Sort of for illustration;
>2 years = fair
>~5 years = good
Maybe greater than 8 years = excellent, hard to say but you can hit an 850 with that, not sure you can at 5 years.
Numerous posters have stated that a score increase was realized at the 1 year mark, 2 year mark, 3 year mark. Where when they droped below, or crossed the threshold they recieved a score drop or increase accordingly. Now, we don't truely know that AAoA was the only factor for those bumbs, decreases, but it is just speculation either way.
It can be tested: go above the mark, app spree below it (since at least on my file a new tradeline is never a penalty unless it breaks an AAOA boundary) and then age back across it. Hold balances fixed, and if no inquiries age off and you don't have anything like oldest tradeline or negative aging across a boundary it can be isolated.
Then again my file is effectively flatlined as a result of my tax lien so it's easier for me to get a controlled datapoint.
Anyway I guess I missed the threads, I'm a little skeptical of reports in other boards here personally as the majority of datapoints are nowhere close to controlled. Doesn't matter anyway, longer is better, and it's that simple for AAOA. If they got boosts at 1 year, jolly, 2 year was a breakpoint for me by the above testing strategy, 3 year was not by similar test procedures and 1B pulls before and after at least for that 3 year datapoint.
