Whats considered a thick file?

[thom02099]

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@djc1puno wrote:
Fellas,

Since im still new to all this, what is considered as having a thick file? Obviously people who has thick files are better in absorbing certain negative criterias, ie inqs. Thanks in advance!

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I think a "thick file" could also include a good mix of TL, to include multiple types of loans in addition to credit cards.  Yes, one can have a thick file without credit cards, AND one can have a thick file with no mortgage or loans.  But I think to truly have a really thick file, one has to have a good mix of credit and a bit of age to the report.

Though I have some fairly recent credit card additions, I also have credit card accounts that are 22 years old.  I also have some old, closed auto loans (total of 11 TL) showing on my file, and several of them are well over 10 years old.  I've had multiple mortages and HELOCs as well as personal loans.  Depending on the CB, I have between 38 and 44 TL.  That would probably constitute a thick file!

[takeshi74]

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GatorGuy wrote: However, if you only have 2 accounts and an AAoA of 6 years, it would be devasted even by adding one account.

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While going from 6 to 4 isn't great, I'd hardly call it devastating. However, the point still stands that having more aged accounts means that they can better absorb the impact on AAoa from a new account.

[pt310]

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@djc1puno wrote:
Now are you guys just talking about cc aaoa's? Ive had students appear back in 97 and a few cards after that in early 2000 but have since been closed as paid...still appearing un my crs. Now my oldest open cc is a little over 3 years...but my aaoa on ck is 10 months but other free sites such as credit.com it takes my history as a whole when showing aaoa. Just a bit confused...heh

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CK is flawed in this area. It only takes into account open TL's. Anything you have that is paid & closed is not calculated into their AAoA. You just have to take that info with a grain of salt. 

[lg8302ch]

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@GatorGuy wrote:

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@09Lexie wrote:
IMO, 6+ years

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However, if you only have 2 accounts and an AAoA of 6 years, it would be devasted even by adding one account.

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yep..that is how I got from AAoA of 18yrs to now 4 yrs in  just 5 months 

[djc1puno]

Thanks pt310!

[pt310]

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@djc1puno wrote:
Thanks pt310!

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Glad I could help!

I've been getting so much info from these forums. It feels good to actually have some information that helps someone else!