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Length of Credit

15% of your FICO score

This part of the FICO algorithm looks at two main things.  The amount of time since an account has been open, and time since an account has been active (date of last activity (DLA)).   Your credit score benefits from having open accounts with an average age of at least 24 months.  The older the accounts the better, this all comes back to stability, and someone with 3 credit cards he’s had for fifteen years and a mortgage that’s over ten years old is going to look very stable.

Note: If you lose your credit card and call the credit card company to get another card, they will close the old card and create a new account for you.  Although this is the safest option, it negatively affects your credit score and brings down your length of history.


The time since an account has been active or date of last activity (DLA) on your credit report, shows just that, the last time your account was active.  Accounts which have been active within the last six months carry the most weight.  For example, if you pay off your car, the tradeline for the auto loan will still affect your credit report for six months after you close it almost as if it was still an open account.  Once the six months passes, the auto loans has a much lower impact on your credit report.


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