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works like a charm!

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Andrew22
Regular Contributor

works like a charm!

This was listed as a negative factor on my scorewatch report...ummmm...ummmm...okayyyy.

 

You have a short credit history.

Your oldest account was opened26 Years agoAverage age of your accounts11 years

FICO High Achievers [?] opened their oldest account 19 years ago, on average.
Most FICO High Achievers [?] have an average age of accounts between 6 and 12 years.

Your FICO score measures the age of your oldest account and the average age of your accounts. In your case, either your oldest account was opened recently or the average age of your accounts is relatively low. People that do not frequently open new accounts and have longer credit histories generally pose less risk to lenders. Therefore, as your credit history lengthens and you pay your bills on time, this factor should have less of a negative impact on your score.

Message 1 of 10
9 REPLIES 9
fused
Moderator Emeritus

Re: works like a charm!

Nutty FICO!Smiley Very Happy

Message 2 of 10
Anonymous
Not applicable

Re: works like a charm!

Hah, what a joke.  Your AAoA is higher than the age of my oldest account! 

Message 3 of 10
llecs
Moderator Emeritus

Re: works like a charm!

They will throw some weird negative reasons as your score gets higher. Based on your scoring bucket, your AAoA and/or your length of history is younger than most.

Message 4 of 10
fused
Moderator Emeritus

Re: works like a charm!

 


@llecs wrote:

They will throw some weird negative reasons as your score gets higher. Based on your scoring bucket, your AAoA and/or your length of history is younger than most.


True! I wonder if the OP is nearing 800.

Message 5 of 10
Andrew22
Regular Contributor

Re: works like a charm!

Interesting! A re-bucket in the offing? My score, actually, is now listed at 706, but my mortgage recently posted, and I recently had my only negative account deleted. So I now have a clean sheet, and a mortgage...

 

You guys are always helpful. I posted that for a laugh, but once again, I learned something.

Message 6 of 10
llecs
Moderator Emeritus

Re: works like a charm!

BTW, to throw in a wrench for laughs, don't be surprised if your other report lists the AAoA/length of history as a positive!

Message 7 of 10
Andrew22
Regular Contributor

Re: works like a charm!

They DO! haha...good call.

Message 8 of 10
llecs
Moderator Emeritus

Re: works like a charm!

Magic 8-Ball skills are working well tonight.

Message 9 of 10
Scuba
Frequent Contributor

Re: works like a charm!

 

Ha, I have got you beat!

 

My history is 32 years old and I am getting hammered with a short history.  I have not reported it to the boards because I did not know how to word it.

 

I have another gripe against the wacky-ness of the FICO reporting only I am trying to compose myself before I put pen to paper.

 

This is nuts.

 

 

Message 10 of 10
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