Changing the Average Age of Accounts in your individual case may have a trivial impact, but that is not necessarily true for others.
Which is why I said that the proof of the pudding is in the eating. Let individuals run their own simulations (e.g. Credit Karma).
Originally Posted by
pallhedge
Unfortunately, there is no FICO score simulator that I'm aware of. And VantageScore simulators (e.g. Credit Karma) aren't very useful as it is an entirely different model and isn't used by banks for credit card decisions. A factor that might affect one's FICO score (e.g. oldest open account, say 32 years) might not affect the same person's VantageScore, and vice versa. Keep in mind that before accusing one of "living a life based on a lie of how your credit card score is scored," it might actually be you living that lie.
So, you chose not to run the Credit Karma simulation? Please report the results. Thanks.
Originally Posted by
pallhedge
Unfortunately, there is no FICO score simulator that I'm aware of. And VantageScore simulators (e.g. Credit Karma) aren't very useful as it is an entirely different model and isn't used by banks for credit card decisions. A factor that might affect one's FICO score (e.g. oldest open account, say 32 years) might not affect the same person's VantageScore, and vice versa. Keep in mind that before accusing one of "living a life based on a lie of how your credit card score is scored," it might actually be you living that lie.
Yes, I am asserting that in your case whether you have an average of 10 years or 32 years wouldn't make an iota of a difference in your credit score.