A summary of the results of experiments to determine the magnetic aging characteristics of ``Chainstore'' memory elements as a function of time, temperature, and electrical exercise is presented. A phenomenological theory of anisotropy kinetics is constructed which provides an account of aging in magnetic films in agreement with the ``Chainstore'' experiments. The theory, which is capable of simple geometric representation, describes the kinetics by which the uniaxial anisotropy constant and skew angle change when a device is subjected to magnetic annealing at an elevated temperature. Conclusions are also drawn in regard to the phenomena of angle and amplitude dispersion.