Garden Cult Meeting - November 2014

For just about anything you want to get off your chest about credit cards.
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popamode72
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Postby popamode72 » Tue Nov 18, 2014 9:49 pm

CarefulBuilder14 wrote:If you want to check your AAoA, you can create an Excel spreadsheet and subtract the day each card was opened from today (or the day it was closed). Then you know what it is with either metric (AAoA or AAoOA).


Would student loans also factor into AAoA? I'm not sure whether to count those or not.

Okay, with those taken into consideration and my closed accounts, my AAoA actually comes up to 5 months. I used this to help me.

http://aaoacalculator.tumblr.com/

Adding two more year old accounts and it would go up to about 5.4 months.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)


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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Nov 18, 2014 10:24 pm

Installment loans have their own scoring complications and I'm not the one to give in-depth advice about them, but I think they would count as they are accounts on your credit report - it's not just a credit card report, after all. I've never had any installment history.

That link is okay, but it's of limited value. It won't let you factor in closed accounts. It is easy to use, though.

The best way to get your AAoA up from 5 months to 5.4 months is to not do anything and wait 12 days. Keep in mind that a computer can easily detect backdating for accounts opened within the last several years (something like 5 or 6 years). Once you have 5 or 6 years of history with no baddies, the extra AAoA doesn't really matter since you have great credit, anyway.

By the time it genuinely looks like an old account a credit analyst or computer, it actually is an old account. So when it has a real effect, you don't need it.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

popamode72
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Postby popamode72 » Tue Nov 18, 2014 10:30 pm

CarefulBuilder14 wrote:Installment loans have their own scoring complications and I'm not the one to give in-depth advice about them, but I think they would count as they are accounts on your credit report - it's not just a credit card report, after all. I've never had any installment history.

That link is okay, but it's of limited value. It won't let you factor in closed accounts. It is easy to use, though.

The best way to get your AAoA up from 5 months to 5.4 months is to not do anything and wait 12 days.


In that case, I'd just like some more information about how to do this properly in Excel.

Maybe Takeshi knows something about how installment loans are factored into AAoA.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Nov 18, 2014 11:38 pm

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So something like this works well if you want to model the effect of opening and closing cards. You have to do the date subtraction method to get a more exact answer, though. That's just finding the difference between the opening and closing/current dates.

I suggest just building something that's intuitive for you.

Edit: Has anyone ever had a GE/Synchrony card closed due to inactivity?
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

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Xorand
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Postby Xorand » Wed Nov 19, 2014 10:51 am

Definitely back in the garden now. I seriously don't see any other cards I'd want. I'm already more than halfway to my AmEx Platinum sign-up bonus spend ($1700 out of $3000) after only having it three days. Had to buy new tires for the truck (dually, so 6 tires) and have been putting other spending on it exclusively already.

Still waiting on my CSP to arrive. Actually, it is probably already in my mailbox, but since we travel all the time, I have to get my mail forwarded to me wherever I am. Last shipment was last Friday, so I suspect it may be sitting in my box now (especially since they emailed me and indicated it had shipped).

Also decided to garden for a while based on my actual FICOs (I broke down and signed up for the 3 bureau service). I knew CreditKarma was typically on the liberal side (it still maintains that I have a 780 score based on TU), but didn't realize by how much. Also, recent apps have dropped my EX score down close to 700.

From a recent pull of all three credit reports, I see that EQ and EX still have a few of my old 30 days hanging around (they've dropped off of, or were never reported to, TU). These were back in the '07 to '08 time-frame, so I suspect they'll start filtering off soon. Any other negatives have fully dropped off all three bureaus.

I am curious about one thing. On the FICO scoring app, it suggested that paying down my loan balance (my truck) further would raise my score. I'm currently at about payment 15 out of 60, or about 1/4 the way done. Current balance is about 75-80% of what I borrowed. I have money I could drop on it (actually I could pay it off), but it is currently invested and the market is making more for me than the interest rate on the loan.
AmEx - Platinum (NPSL) , Blue Cash Preferred ($19,000), Gold Delta Skymiles ($8,500)
Chase - Sapphire Preferred ($14,000), Disney ($11,500), Amazon.com ($9,000), Freedom ($8,000)
CapOne - QuickSilver ($7,250) / Platinum Rewards ($7,250)

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lobbythis
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Postby lobbythis » Wed Nov 19, 2014 2:20 pm

Xorand wrote:
Still waiting on my CSP to arrive. Actually, it is probably already in my mailbox, but since we travel all the time, I have to get my mail forwarded to me wherever I am. Last shipment was last Friday, so I suspect it may be sitting in my box now (especially since they emailed me and indicated it had shipped).


My friend was just approved for one on Saturday. Card arrived by Wednesday. They must have shipped it first thing Monday morning. Says they used USPS First Class. Coming from west coast to east coast, that's moving pretty d*mn quick.



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