I have an old utility bill collection that is listed under my regular accounts not in the collections
and I was wondering if it would be better to PFD or just pay it and leave it on for the
history since it is the oldest account I have.
Also is there a PFD letter that explains that since they own the account that they can delete it?
Thanks
Starting Score: 377EQ/350EX/400TU As of 11/2011
Just shows as PSNC on my credit report but it is PSNC Energy
That's a personal judgment call.
For me, I preferred a clean report, even if FICO was a little lower. A higher FICO can be meaningless with a lender who cares about CO's, CA's, etc.
But if you are most concerned with all things FICO....if the account is paid and beyond 4 years, then it may be neutral to positive for age and the derog effect to FICO fades over time till it drops.
So, you have to pick your credit strategy. I went for the best score I could get with the cleanest file, regardless of age potentials. Others have maintained old derogs such as lates or CO's for the age because they wanted a possible FICO boost and better oldest/AAoA.
TXjohn,
It is due to drop off next March. I was thinking about sending them a modified PFD letter since they say they
will not delete and ask if they would change from bad debt/collection to Paid;Closed .