What Average Age of Credit History is Considered Very Good

[10022016]

...and excellent?

[Anonymous]

5-6+ is probably very good, 8-9+ excellent.

[Anonymous]

Good question. I know I won't like the answer.

I haven't seen FICO's info, but V3 is 9+/Excellent, 7-8/Good, 5-6/Average. I won't be average for 3+ years.  I am sooo regretting my "cash only" lifestyle. My DH has offered to AU me on one of his cards... I have been saying no, I want to build on my own. 'My scores are very good now, they'd be excellent w/age. AAoA is a shiny object that is now taunting me.

[Anonymous]

All of that fair/good/excellent stuff and the pretty red/yellow/green colors are just fluff provided by a CMS.  It can vary from CMS to CMS, so you can't go by any of their charts/graphs on these things.  What matters is how the FICO algorithm views them.

When it comes to AAoA, a top FICO score (850) can be reached at some point between 6.5-7.5 years.  On EX I got there at 6.7 years, on TU it was 7.4 years.  A "safe" number of course would be 8 years.  Anything 8+ is excellent... likely a little less on most profiles as was the case on mine.

[Thomas_Thumb]

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@Anonymous wrote:
5-6+ is probably very good, 8-9+ excellent.

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I'd say 5 to 8 years is very good with 8 years and above being excellent. Certainly Fico points are being left on the table for AAoA in the 5 to 8 year range. 

[FireMedic1]

From My FICO........

[Anonymous]

What is considered a high achiever?  Is it a 760+ score like the thread in this section states?  780?

If so, I strongly disagree with the graphic that suggests that high achievers on average possess an AAoA of 9+ years.  If someone wanted to argue that for everyone that possesses an 850 score sure, I'd get that, but not 760-780 or so.  Heck, 760-780 can be achieved with an AAoA of 1-2 years.

[Revelate]

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@Anonymous wrote:

What is considered a high achiever?  Is it a 760+ score like the thread in this section states?  780?

If so, I strongly disagree with the graphic that suggests that high achievers on average possess an AAoA of 9+ years.  If someone wanted to argue that for everyone that possesses an 850 score sure, I'd get that, but not 760-780 or so.  Heck, 760-780 can be achieved with an AAoA of 1-2 years.

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You have to remember 760 was the line set on the forums back in the FICO 98 / FICO 04 days... and that was a damned good score back then, and not so easy to achieve.  Even clean and swabo inquiries I peaked at 774 EQ FICO 5 or thereabouts, and that was with my first rebuild acounts opened nearly 7 years ago at that point with an AAOA of 4 years too.

To the OP - you have to take any 3rd party interpretation of one's credit report with a grain of salt: ultimately the score that the lender pulls is what matters anyway, and even FICO scores while they can generally give you a good idea of where you stand, ultimately it's the report data that matters and in this case what one lender thinks is a good or excellent credit age, might not be the same for another lender.

[Thomas_Thumb]

A Fico 8 score of 760 represents the 65th percentile. While above average, I'd hardly clasify that as "high achiever". If one defines above 80th percentile as a benchmark for high achiever, then a Fico 8 score of 800 is a better fit.

[Revelate]

@Thomas_Thumb do you still happen to have the v2 or v3 Experian sheets?  My GoogleFU is failing though I've seen them in the past the best I could dig up were their proprietary scores and VS 3.0.

Agreed that 800 would be a better number for FICO 8 for High Achiever given the new look score distributions, but it'd be curious to compare that vs. some of the older models for a better estimate as I'd be tempted to shift the threads with the percentiles backing it up.