AAoA question

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5 posts
grifenhagen
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AAoA question

Postby grifenhagen » Sun Apr 27, 2014 7:46 pm

just wondering about how your AAoA calculates.
is it the average age of ONLY the accounts you currently have open?
say i have only had three cards my entire life and they have each been open for exactly 3 years. my aaoa is then 3 years, right?
now say i have had three cards for exactly three years, but 5 years ago i closed a card that was open for 20 years. is my aaoa still only three years?
i guess what i am asking is if the age of closed accounts affects your aaoa.


darkguy2
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Postby darkguy2 » Sun Apr 27, 2014 8:18 pm

I believe that they will stop increasing in age but will stay on until they drop off. So the 20 year would still effect the average but it will not increase in age. After a few more years it will drop off so you will see a large drop in your AAoA.
Discover IT - $5,700
Chase Freedom - $5,700
Costco Citi - $13,000
Sallie Mae - $4,000
Chase Sapphire Preferred - $6,000
Chase Sapphire Reserve - $19,500
Citi Double Cash - $6,500
Amex BCE - $13,000

FICOs: Discover (777), SallieMae (764), Amex (767), Citi (772)
FAKOs: CK- TU (760), EQ (760)

linuxmachine
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Postby linuxmachine » Sun Apr 27, 2014 10:33 pm

closed accounts stay on your record for 10 years. until then, they will get calculated into you aaoa.

takeshi
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Postby takeshi » Mon Apr 28, 2014 9:35 am

grifenhagen wrote:just wondering about how your AAoA calculates.
is it the average age of ONLY the accounts you currently have open?

AAoA includes closed accounts. If only open accounts are factored then it's AAoOA, not AAoA.

grifenhagen
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Postby grifenhagen » Mon Apr 28, 2014 11:10 pm

okay i understand. thanks!



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