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May 11, 2009 · Your AAoA is the sum of the ages of every account on your report, whether open or closed, divided by the number of accounts. Your AAoA of 6y 9m could result from having only one account on your reports, opened 6y 9m ago, or it could result from a number of accounts ranging from having been opened 20 years ago to last month.
Sep 29, 2022 · Any suggestions or advice. 1. Closing an account doesn't affect your AAoA until the closed account drops off of your credit reports, which is usually many years down the road. 2. Opening an account lowers your AAoA. 3. There are some thresholds, but you're usually considered new until the AAoA climbs to 8 or 9 years.
Aug 1, 2015 · What's the forum concensus regarding AAoA (Average Age of Accounts) and what's considered bad (low experience), acceptable, good, and optimal in relation to credit scoring? I'm looking for something general like credit card utilization ( 0% is good but not optimal, 1-9% is optimal, 10-29% good but not optimal, 30-49% ok, 50%+ bad)
May 1, 2024 · AAoA and AoYA milestones today. Today, my AoYA increased to 12 months in all 3 bureaus, and my AAoA increased to 7 years 6 months in EX and TU. Net results for FICO 8: EQ +9. TU +11. EX +19. Total revolving limits 587500 (521k reporting) FICO 8: EQ 706 TU 714 EX 721. FICO Score changes. FICO Score versions.
Feb 13, 2009 · Re: What does AAoA mean? Average Age of Account - how old your average loan/credit card is. Banks like people who are loyal to their cards. Message 2 of 2.
Jul 19, 2019 · 3. There is no minimum AAOA to get approved for a credit card. However you cannot get a FICO score until you have six months of history. Lenders look at your score and your DTI, your income and more. If there’s a manual review then they may look at the individual factors. Credit cards are typically reviewed by a computer, whereas mortgages ...
Mar 28, 2019 · Re: Reliable AAOA Calculator or Advice. "AAOA is an acronym for Average Age of Accounts. It is a measure of how long you have managed credit. Your AAOA is responsible for up to 30% of your FICO score and other similar credit scores." @SecretAzure, your request is very simple to do in a spreadsheet.
Nov 21, 2018 · Re: What is a good Average Age of Account ? (AAOA) @Thomas_Thumb wrote: A decent AAoA is 2 years, a very good AAoA is 5 years and an excellent AAoA is 8 years. As mentioned elsewhere, AAoA includes all open and closed accounts. TT, do you believe that thresholds exist at any of those points (in months of course), or have youcome across any ...
Feb 5, 2022 · Re: AAOA Calculator Average Age of Accounts. An AAoA over 3 years is helpful for boosting score and over 5 years is more beneficial. Age of youngest revolving account (AoYRA) and age of oldest account (AoOA) are often more influential. An AoYRA under 12 months puts you in the new credit penalty box and that can negatively impact score 15-25 points.
Mar 23, 2018 · Re: AAoA and AoYA vs credit inquiry. Personally, I would keep the PayLease account on my credit report for a few reasons: 1) The drop was only 4 points which is insignificant considering scores range 300-850 (and some of that drop is likely due to the new inquiry which won't change if the account is removed).
