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What is considered "excellent" per FICO in terms of Average Age of Account?

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After many years and cycles of  the "Wash, Rinse, Repeat" credit cycle, I am finally to a point that I am confident that I have learned my lessons and now budget well, and have a sizable savings established for "emergency expenses".

 

With that said, the MyFico simulators and the FAKO simulators all show my various score driven factors as "Excellent" other than "Average Account Age" and "Pay History" which show as Very Good - I have 2 accounts with lates from January 2014 remaining on my report, and the average age of accounts on my report currently stands at 6 yrs 7 months.

 

My scores are all now in the 800+ range, so I'm not concerned with improving it (though I am anxious to see the impact when the last of the "lates" age off),  But I'm curious, at what threshold is "Average Account Age" considered "Excellent"?

Edited by gerray

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If I remember correctly, 10 year average and 20 year oldest is the cap. Anything above that doesn't help you any further.

 

That said, you can still have an 850 FICO even with lower numbers.

Edited by shifter

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I started hitting 850 on FICO 8 for the first time somewhere around AAOA = 6-7 years.

 

I have several open and closed D*1995 Amices reporting, so my oldest account would have been > 20 years old at that point.

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13 hours ago, gerray said:

After many years and cycles of  the "Wash, Rinse, Repeat" credit cycle, I am finally to a point that I am confident that I have learned my lessons and now budget well, and have a sizable savings established for "emergency expenses".

 

With that said, the MyFico simulators and the FAKO simulators all show my various score driven factors as "Excellent" other than "Average Account Age" and "Pay History" which show as Very Good - I have 2 accounts with lates from January 2014 remaining on my report, and the average age of accounts on my report currently stands at 6 yrs 7 months.

 

My scores are all now in the 800+ range, so I'm not concerned with improving it (though I am anxious to see the impact when the last of the "lates" age off),  But I'm curious, at what threshold is "Average Account Age" considered "Excellent"?

Since your two lates are now pushing 6.5 years old, you should starting working on getting them deleted early and there is a master thread on this strategy somewhere here at CB.  IIRC, you can get EQ & TU to routinely delete lates six months early, however EX was more difficult and best case scenario seemed to be about three months early.  This is definitely worth a shot!

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3 hours ago, Rogue said:

Since your two lates are now pushing 6.5 years old, you should starting working on getting them deleted early and there is a master thread on this strategy somewhere here at CB.  IIRC, you can get EQ & TU to routinely delete lates six months early, however EX was more difficult and best case scenario seemed to be about three months early.  This is definitely worth a shot!

 

Just a word of caution:  Unless I'm mistaken, the thread in question is directed at tradelines closed with an adverse status.  The strategy involves prompting removal of the tradelines from a credit report a few months in advance of when they would be deleted under the 7 year obsolescence rule.

 

However, the tradelines in gerray's post aren't specifically identified as having been closed with an adverse status.  If the noted delinquencies were brought current and the tradeline is either open or subsequently closed with a satisfactory status, it's not advantageous to enter a CRA dispute in an effort to remove the delinquencies.  Doing so, may risk deletion of a ultimately positive tradeline that will otherwise continue to report for up to 10 years subsequent to the date of last activity.

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13 hours ago, hdporter said:

 

Just a word of caution:  Unless I'm mistaken, the thread in question is directed at tradelines closed with an adverse status.  The strategy involves prompting removal of the tradelines from a credit report a few months in advance of when they would be deleted under the 7 year obsolescence rule.

 

However, the tradelines in gerray's post aren't specifically identified as having been closed with an adverse status.  If the noted delinquencies were brought current and the tradeline is either open or subsequently closed with a satisfactory status, it's not advantageous to enter a CRA dispute in an effort to remove the delinquencies.  Doing so, may risk deletion of a ultimately positive tradeline that will otherwise continue to report for up to 10 years subsequent to the date of last activity.

Good point, this strategy is designed for closed negative accounts and the OP does not mention if that is the case here.

 

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15 hours ago, Rogue said:

Good point, this strategy is designed for closed negative accounts and the OP does not mention if that is the case here.

 

Good call hdporter, as I was considering disputing them when it came to the 6 month shy of 7 yr mark (which will be soon). Both accounts were paid in full, unfortunately one of them last reported 60 days before being paid in full so it never reported “current” at the end.  Just shows “paid in full - 60 day late.”

 

will that update to being a positive trade line once the lates age off 7 years or should I consider disputing that trade line?

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On 5/21/2020 at 3:21 PM, cv91915 said:

I started hitting 850 on FICO 8 for the first time somewhere around AAOA = 6-7 years.

 

I have several open and closed D*1995 Amices reporting, so my oldest account would have been > 20 years old at that point.

 

That's close to what I observed as well. AAOA about 8 years is when my FICO's peaked.

 

 

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8 hours ago, gerray said:

Good call hdporter, as I was considering disputing them when it came to the 6 month shy of 7 yr mark (which will be soon). Both accounts were paid in full, unfortunately one of them last reported 60 days before being paid in full so it never reported “current” at the end.  Just shows “paid in full - 60 day late.”

 

will that update to being a positive trade line once the lates age off 7 years or should I consider disputing that trade line?

 

One of two things will happen:  Worse case scenario (for the account that was delinquent just prior to payoff)  is that once the last month of activity falls past the 7 year adverse reporting limitation, the entire tradeline will drop entirely.  I think this is unlikely.

 

Instead, what I would anticipate is that once the 7 year mark has passed, the derogatory history will be removed, leaving a positive "paid in full" tradeline that will report for another 3 years.

 

This is based upon my experience where I had 4 tradelines which were closed due to delinquency, with outstanding balances (but never past 120 days delinquent, so were never charged off).  I ultimately brought those tradelines current and later paid them in full.   When 7 years had passed after the date of the last month showing a delinquency status the tradeline converted to a positive status (as I suggest will happen to you).  Because I stretched final repayment of those accounts out an additional 2 years from when they were brought current, I gleaned 5 years of positive tradeline reporting from these accounts.  (I actually paid these accounts down to about $300 each, and then drew out additional payments by making minimum monthly payments to enhance an otherwise thin history.)

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