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Accounts 7-10 years old in good standing on credit report

New Contributor

Accounts 7-10 years old in good standing on credit report

I'm not sure what is myth versus fact. I have 7 Wells Fargo accounts that are 7-10 years old (from last pay date). They had a local branch and I was abusing them regularly for quick signature loans. I have another four accounts with other lenders that are 7-10 years (also from last pay date). They are comprised of an auto loan, mortgage that was refi'd and revolving. I've heard that signature loan places like Wells Fargo actually gets scored more negatively. I also understand that your credit scores are comprised of your activity for the last two years. Do any of you experts see any problem with me requesting the credit bureaus remove these from my report now? I know they will eventually fall off, but I think a major reduction in Wells Fargo account from my credit report would be beneficial to anyone doing a visual audit. Feedback?

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Moderator Emeritus

Re: Accounts 7-10 years old in good standing on credit report

Leave these be!!!!   They are positive accounts that are adding to your AAoA.   Deletion of these accounts would be detrimental to your scores. 

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
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New Contributor

Re: Accounts 7-10 years old in good standing on credit report

Okay. Thanks Shogun! I appreciate your direction.

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