VS3 (and 4) include closed accounts in aging metrics

I know I've mentioned this many times in the past and many are aware at this point, but the vast majority of people still believe (thanks to the CK summary front end) that VS3 doesn't include closed accounts in aging metrics. Years ago under the VS3 FAQ on the VS3 web site this was clearly stated, but after the release of VS4 and a revamp to their site this information was lost. The was a screenshot of it back on MF way back, but I have no idea where it is now. Anyway, I emailed VS just to get confirmation, in writing to share with everyone. I very simply asked if VS includes closed accounts in their aging metrics the same way that Fico does, and this is the confirmation I received:

BrutalBodyShots wrote: ↑Wed Dec 07, 2022 5:45 pm I know I've mentioned this many times in the past and many are aware at this point, but the vast majority of people still believe (thanks to the CK summary front end) that VS3 doesn't include closed accounts in aging metrics. Years ago under the VS3 FAQ on the VS3 web site this was clearly stated, but after the release of VS4 and a revamp to their site this information was lost. The was a screenshot of it back on MF way back, but I have no idea where it is now. Anyway, I emailed VS just to get confirmation, in writing to share with everyone. I very simply asked if VS includes closed accounts in their aging metrics the same way that Fico does, and this is the confirmation I received: VS3 closed accounts.png

Good to know I was one of those under the impression VS didn’t calculate closed accounts.

BrutalBodyShots wrote: ↑Wed Dec 07, 2022 5:45 pm I know I've mentioned this many times in the past and many are aware at this point, but the vast majority of people still believe (thanks to the CK summary front end) that VS3 doesn't include closed accounts in aging metrics.

I remember some of this from MF. So, you think Credit Karma/WalletHub/NerdWallet all show the AAoOA (Average Age of Open Accounts), but the scoring model is actually using the FICO defined AAoA (all accounts) ? I programmed our age calculator to use AAoOA for VS3 thresholds, but I guess we should really watch out for score changes at the AoOA threshold on VS3. Another thing that has been rendering most VS3/VS4 data points useless is the fact that they don't always count an account's age from the 1st of the month. If an account is reported opened - on credit file, not day of app&approval - between the 1st and 13th (inclusive), it gets counted from the 1st and matches the FICO age. Anything on the 14th and after will lower the age by 1 month compared to FICO. Our age calculator handles that without issue, but I don't have an AAoA for VS3 in there yet - just AAoOA. That VS3 AAoA can be off from FICO AAoA due to the account aging difference I described above.

That's right. I believe that the free CMS out there only show AAoOA, which incorrectly manipulates people into thinking closed accounts get omitted from the equation. I do agree that the dating thing is different for VS verses Fico, but not closed vs open.

The graphic I saw straight from VS probably 4 years ago was enough for me, but this email back from VS confirms that graphic since I can't find it any longer.

BrutalBodyShots wrote: ↑Fri Dec 09, 2022 7:42 am That's right. I believe that the free CMS out there only show AAoOA, which incorrectly manipulates people into thinking closed accounts get omitted from the equation. I do agree that the dating thing is different for VS verses Fico, but not closed vs open. The graphic I saw straight from VS probably 4 years ago was enough for me, but this email back from VS confirms that graphic since I can't find it any longer.

It's time to start tracking them both on VS3/VS4. No one has ever done this for VS3/VS4 Average Ages. I'm going to add AAoA VS3 (all accounts). This can be different from AAoA FICO (all accounts) due to that individual account aging difference between them. EDIT: I need to update the glossary for AAoA... I made it say that VS3 only uses open accounts. lol