What age makes for a 'strong' profile?

[Subexistence]

I'm curious what AoOA,AaoA, and AoYA are needed for a strong profile. I just want them to be high enough where they aren't the reasons for being denied a cc.

[Anonymous]

I believe the only AoYA threshold is 1 year, so as long as you have no new accounts within the last year it's doubtful you'd be denied for new accounts.  AAoA of 1-2 years is usually sufficient in terms of enough history to avoid denials based on being too young.  AoOA, I'm not too sure about and perhaps others can weigh in on it.  I would think with at least one account 3-5 years old age of credit history would be decent enough to avoid denials based on credit history length.

I wouldn't say those above values I gave would result in a "strong" profile, but you don't necessarily need greater than those values to avoid being denied for CCs.  As for what I would consider "strong" (and opinions would certainly vary on this) I would say AoYA 2+ years, AAoA 4-5+ years and AoOa of 10+ years would constitute a solid profile with respect to the age of accounts sector of the FICO pie. 

[HeavenOhio]

I'd say it varies by lender.

You brought this up elsewhere after you were denied by Chase. Based on what I've read here, Chase likes your oldest account (and possibly your oldest revolving account) to show some age. A year might be good. They're also concerned about too many new accounts. And having at least a couple of revolvers can't hurt either. If you're in good shape as far as the above criteria go, your score can be mediocre but not bad.

I think you probably would have been approved had you let your oldest account age to a year old or a little more as long as you didn't apply after opening several recent accounts.

[Subexistence]

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@HeavenOhio wrote:

I'd say it varies by lender.

You brought this up elsewhere after you were denied by Chase. Based on what I've read here, Chase likes your oldest account (and possibly your oldest revolving account) to show some age. A year might be good. They're also concerned about too many new accounts. And having at least a couple of revolvers can't hurt either. If you're in good shape as far as the above criteria go, your score can be mediocre but not bad.

I think you probably would have been approved had you let your oldest account age to a year old or a little more as long as you didn't apply after opening several recent accounts.

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Even though AARP doesn't follow 5/24, I should treat it like it does in which I won't be applying for anything in chase for like 1.2 years if I don't get anything else which I certainly will.

[HeavenOhio]

Chase cards and bonus chasing are a difficult mix. Bonus chasers tend to do a fair amount of strategizing to find the right time to apply for their cards. The young age of your profile complicates things a bit too. And being under 21, you don't have the benefit of their pre-qual site to help you along.

I'd submit that your profile is strong for its age and that it's strong for your age. In a year or two, it's going to be strong, period. But a strong profile doesn't mean it's necessarily a fit for every lender.

Maybe "good fit" is a better way of looking at this. You may need to prep your profile differently for one lender vs. another.

[Anonymous]

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@Subexistence wrote:

I'm curious what AoOA,AaoA, and AoYA are needed for a strong profile. I just want them to be high enough where they aren't the reasons for being denied a cc.

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Would someone mind giving me the meanings behind these.  I know AAoA but not the two others.   Thanks

[HeavenOhio]

Age of Oldest Account, Average Age of Accounts, and Age of Youngest Account.

[Anonymous]

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@HeavenOhio wrote:

Age of Oldest Account, Average Age of Accounts, and Age of Youngest Account.

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Awesome,  makes sense now.  Thanks so much.

[Subexistence]

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@HeavenOhio wrote:

Chase cards and bonus chasing are a difficult mix. Bonus chasers tend to do a fair amount of strategizing to find the right time to apply for their cards. The young age of your profile complicates things a bit too. And being under 21, you don't have the benefit of their pre-qual site to help you along.

I'd submit that your profile is strong for its age and that it's strong for your age. In a year or two, it's going to be strong, period. But a strong profile doesn't mean it's necessarily a fit for every lender.

Maybe "good fit" is a better way of looking at this. You may need to prep your profile differently for one lender vs. another.

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I might need to garden for a year but I still need something that gives me 2%CB or higher. Once my Disco match promom runs out, I'll have to fall back on my recently approval BarclaysCashForward