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Delete account or not?

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Anonymous
Not applicable

Delete account or not?

Chase offered to remove a derog account from my credit file after I PIF. The account has a 30, 60, 90, 120 and one 150 late payment on it (bur did not CO). The account was opened in 2008, so it adds to my AAOA of 8-years. Oldest account in 24 years (Amex backdated). How do I know if the removal of the account (after I PIF) will be better for my credit profile, instead of just paying it off and let the account history remain (no removal). The lates have age a little b/c the last date of delinquency happened on 4/2010.

 

Suggestion please.

Message 1 of 5
4 REPLIES 4
marty56
Super Contributor

Re: Delete account or not?

As it has not gone into collections, then IMHO it is a no brainer to have them remove it after you PIF.

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 2 of 5
pizzadude
Credit Mentor

Re: Delete account or not?

 

 

I agree with Marty, get them to remove the account.   Since your AAoA is 8 years, and this account is only 4 years old it is actually not contributing positively to your AAoA.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 3 of 5
clocktick
Valued Contributor

Re: Delete account or not?

I'd have it removed as well (and get that in writing!).  Any age lost will be gained back in time.

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




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Message 4 of 5
Anonymous
Not applicable

Re: Delete account or not?

Thanks for the feedback. I should be done paying it off in about 6-months so deletion is what I'll take. I will make sure to get that in writing too.

Message 5 of 5
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