Credit Cards Center Credit cards from our partners
Reply
Established Member
Posts: 29
Registered: ‎01-23-2014
0

Do old accounts that were in good standing

So focused on the mess I've made in past few years since divorce and just had a thought... If old bad accounts fall off in 7 years... what about accounts that were positive? Mixed in with my bad are quite a few good! Will they fall away leaving me with all negative thus bringing my score down? I have just begun my repairing and am worried already! 

Contributor
Posts: 256
Registered: ‎08-24-2011
0

Re: Do old accounts that were in good standing

They generally report for 10 years

*USAA WORLD MC 18k* *USAA VISA 12k* *AMEX BCE 10k* *DISCOVER IT 15k* *AMEX ZYNC* *B of A SIGNATURE CASH 15k* *NAVY FEDERAL PLATINUM 20k* *CITI DOUBLE CASH 15k* *Veridian CU 14k* *Barclays Apple 12.5k*

Established Member
Posts: 29
Registered: ‎01-23-2014
0

Re: Do old accounts that were in good standing

[ Edited ]

Ok.  SoI have several good accounts paid in full and closed at the end of 2007. When those fall off will I see a big drop in scores due to more recent negative issues?   This is not good as I'm trying to improve scores to get a mortgage! 

Contributor
Posts: 256
Registered: ‎08-24-2011
0

Re: Do old accounts that were in good standing

[ Edited ]

It depends, how many active accounts do you have now in good standing? How old are the negative items?

 

Worst case scenario, by the time your good stuff falls of your report your negatives will also have a reduce affect on your score as they will be older as well. To combat this affect it may help to open a few trade lines now and keep them in good standing if you dont have a significant amount of good accounts now.

*USAA WORLD MC 18k* *USAA VISA 12k* *AMEX BCE 10k* *DISCOVER IT 15k* *AMEX ZYNC* *B of A SIGNATURE CASH 15k* *NAVY FEDERAL PLATINUM 20k* *CITI DOUBLE CASH 15k* *Veridian CU 14k* *Barclays Apple 12.5k*

Highlighted
Moderator
Posts: 14,051
Registered: ‎04-15-2011
0

Re: Do old accounts that were in good standing

I like the answer above, you will need some open positive accounts to help maintain a thicker and healthier file.

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!

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.