How is the average age of accounts calculated?
#1
Original Poster
Join Date: Oct 2013
Posts: 218
How is the average age of accounts calculated?
Recently I've been working towards planning my next App-O-Rama, and attempting to workout exactly how many credit inquires and account closures (by me) my credit report can take.
I've been monitoring my score and seeing it go back into the low 800's and I'm a bit confused on how average age of accounts is calculated. On one side sites like credit karma show the average age of open accounts. While I'm getting conflicting information elsewhere that suggests the average age of accounts is the average age for all open and closed accounts.
Anyone have a explanation?
I've been monitoring my score and seeing it go back into the low 800's and I'm a bit confused on how average age of accounts is calculated. On one side sites like credit karma show the average age of open accounts. While I'm getting conflicting information elsewhere that suggests the average age of accounts is the average age for all open and closed accounts.
Anyone have a explanation?
#2
Join Date: Aug 2010
Location: BKK
Programs: AA Plat, HH Diamond, SPG Gold
Posts: 2,395
You may also want to take a look at START HERE sticky at the top of this forum as this is a frequent topic of discussion, and the info is likely already here.
Good luck!
Moderator, Information Desk
#3
Join Date: Jul 2013
Location: Raiegh, NC
Posts: 300
How is the average age of accounts calculated?
Closed accounts count for 10 years after account closure. Creditkarma isn't entirely accurate. Some accounts may not send info to all 3 major credit reporting companies.
Read creditboards.com
Read creditboards.com
#4
FlyerTalk Evangelist
Join Date: Aug 2002
Location: Intermountain West
Programs: Too many to list
Posts: 12,082
#5
Join Date: Jul 2013
Posts: 384
What score are you monitoring? Keep in mind that for any given model you have a score with each CRA.