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Posted in Credit Cards
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Question By
sandan

6 Contributions
7 People Helped
Length of accounts?
My credit cards are 14, 10, 11 9 and two 9 month old cards so they are giving me an average of 4.6 years. Why? My oldest one is 14 years in good standing

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Top Contributor
30 Contributions
66 People Helped

The Math

Par of your score is the average age of your open accounts. So let's look at yours. 

You have:

Card 1: 14 years - 168 Months (GREAT!)

Card 2: 10 Years - 120 Months (GREAT!)

Card 3: 11 years - 132 Months (GREAT!)

Card 4: 9 Years - 108 Months (GOOD!)

Card 5: 9 Months (Young)

Card 6: 9 Months (Young)

If you add the age of all your cards it comes to 546 Months.  Divided by the number of accounts, 6, you have an average of 91 months, just over 7 years.  In your question you said "they" are giving you an average of 4.5 years.  I'm not sure who "they" are.  Maybe I could help you more if I knew that?  However, from the information you provided me you can see how even though you have some really great aged cards, they are being offset by the two younger cards.  In time, they will age as well and you should see your score improve.

If you have more information, please reply.  I would like to look at this further.

Top Contributor
5038 Contributions
1136 People Helped

You are addressing the "average age of accounts"

Average being the key word.

Top Contributor
1793 Contributions
3030 People Helped

it does not add up,  based on what you posted it would be 7.5 years for your average years open.  you need to post some correct numbers,  thinking what they are reporting is correct.

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