How is the “Average Account Age” in the Equifax credit report calculated?

I have a combination of Open, Closed, Revolving, consolidated and unconsolidated student loans, and a couple credit cards I have never used. I have averaged these in many different ways but have not yet arrived at the "Average Account Age" that is reported in the Equifax credit report. For those who haven’t purchased their report, an "average account age" is given, and the longer it is, the better for one’s credit score. Hopefully someone who has a simpler credit history can shed some light on how it is calculated. Thanks!

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Saturday, August 8th, 2009 Credit Card & Loan Consolidation

4 Comments to How is the “Average Account Age” in the Equifax credit report calculated?

  1. I believe it is oldest account (in month) plus newest account (in month) divided by 2.

    Card 1: 24 month
    Card 2 : 16 month
    ==> 24+16= 40 / 2 = 20 month (1 year 8 Month ) average account age.

    2. Floppy on August 8th, 2009

  2. Have you calculated the age without your closed accounts? If you haven’t I would try that as the credit bureaus don’t count closed accounts in the average age of your credit file.

    3. RantingLover on August 8th, 2009

  3. I’m not sure but I suspect is the average of just your open accounts.

    4. bdancer222 on August 8th, 2009

  4. I’ve had issues with my credit report in the last couple of months so I’ve searched online to fix this..Restore my Credit Report is by far
    the best one out there, check them out below.

    http://www.restoremycreditreoprt.com/

    5. Susan L on August 8th, 2009

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