Three Quick Questions...

[david_weaver]

Three quick questions:

 

1) After closing on a foreclosed home last year, went on a mini app-spree to finance repairs/improvements. Opened 5 new cards. With the next reporting, each of those accounts will now be open over 1 year. Is there any appreciable change in AAOA, or in credit score, when such milestones are reached or does it accrue slowly all along? In other words, when it hits the 1 year mark, is it going from 0 years to 1 year, or from 11 months to 12 months?

 

2) How does being an AU impact AAOA, or does it at all? If someone adds me as an AU on a card they just received, does that hurt MY AAOA? And if someone adds me as an AU on a 10 year old card, any reporting for me just covers the period after I am added?

 

3) With the reporting changes, does being an AU really count for much anymore? I know it used to, but thought they scaled that impact back considerably. I know being an AU on AMEX is great, as you can D*. But other than that, how much does it really help?

 

Thanks!

[mendelssohn]

1. You might get a slight bump at 1 year, but more of a bump at 2 years. Until 2 years, accounts are considered new by FICO.

 

2. An AU can help with AAOA and utilization. It's only really beneficial if it boosts your AAOA and has low/no utilization.

 

3. Amex D* is dead. You can no longer get a donor to share a MD.