AAoA: Closed accounts due to Fraud/Lost Card

[olehammer]

I currently have 3 copies of the same credit card on my credit reports.  1 active, 1 closed due to lost card, and 1 due to fraud.   The closed accounts have a flag that they will remain on my report for 2 years from the date they were flagged.

Has anyone had any success in getting these lines deleted from their reports?  I've been shot down twice by management at the credit union and all they have offered is to add a comment.  In calculating my AAoA they are definintly being included in the calculation.  My file is young and thin so the impact is pretty large right now.

Given that these 2 issues had nothing to do with my direct actions I am very frustrated to say the least.

Any recommendations?

[Aahz]

Looking at your sig you got 5 new cards just last month.  Unless all three of the TLs you're concerned about were opened in the last two weeks, it seems having the three is actually helping you AAoA, not hurting it.

[takeshi74]

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@olehammer wrote:

I currently have 3 copies of the same credit card on my credit reports.  1 active, 1 closed due to lost card, and 1 due to fraud.   The closed accounts have a flag that they will remain on my report for 2 years from the date they were flagged.

Has anyone had any success in getting these lines deleted from their reports?

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Never been in that situation myself.  The prior accounts have always fallen off much faster than 2 years.

[olehammer]

@Aahz, I have older non-cc and closed cc accounts in my file. The problem is these tap accounts are dragging my AAoA down further than it should be.

[Aahz]

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@olehammer wrote:
@Aahz, I have older non-cc and closed cc accounts in my file. The problem is these tap accounts are dragging my AAoA down further than it should be.

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Have you actually run the math both with and without these accounts? I'm often surprised by the actual math, so I ran a few different scenarios and haven't found one yet where 2 older accounts do anything but help when there are 5 brand new accounts.

[olehammer]

Yes I have and that's how I know they are hurting my score. I have an 8 year account so anything less than 8 years will bring down my score

[Aahz]

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@olehammer wrote:
 I have an 8 year account so anything less than 8 years will bring down my score

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Sorry, but this statement isn't accurate.   Deleting tradelines younger than 8 years can lower your AAoA.

An example-

Card A - 96 months (8 years)

Card B - 36 months

Card C - 24 months

Card D - 20 months

SDFCU - 6 months

Credit One - 6 months

WalMart- 1 month

Quicksilver - 1 month

Freedom - 1 month

Kohl's - 1 month

Overstock - 1 month

AAoA = 193/11 = 17.5 months

Card A - 96 months (8 years)

Card B - 36 months

Card C - 24 months

Card D - 20 months

SDFCU - 6 months

Credit One - 6 months

WalMart- 1 month

Quicksilver - 1 month

Freedom - 1 month

Kohl's - 1 month

Overstock - 1 month

AAoA = 149/9 = 16.5 months

Obviously you haven't provided us the dates for all of your tradelines, but just because one line is 8 years old does not mean that deleting anything younger will help your AAoA. It depends on how many lines you have, and the specific age of each account.

[stellar]

I would try to contact the CEO of the credit union to remove them and/or dispute them with the individual credit bureaus.  I think that's all you can really do.

[olehammer]

@Aahz...point taken. However, i've already done the math and in my case it's hurting my AAoA and it will for the next two years.

@stellar... I've been emailing with sr management and they still confirmed the lines will remain as closed and refuse to delete them.

It's really aggravating that SDFCU was a good partner in rebuilding but now clearly doesn't get it. I'm SDing my card as they aren't going to get any more swipe fees on my behalf. And I'll be closing my account in 2016 I think.

[alexl22]

I have 3-4 accounts that were closed and reissued because I lost my wallet, two total trade lines for each card lost, has absolutly no effect on my AAoA. Not sure why it is for you, that makes no sense and I would assume would be against some kind of violation of the FCRA as that would be inaccurate information being reported. You did not open two/3 trade line, you open one and the card was lost, then fraud. If you really feel like this is affecting your AAOA then I would start a CFPB complaint