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New Contributor
shane1120
Posts: 65
Registered: ‎07-23-2013
0

Removing my oldest account??

Question,

 

My oldest account is from 2004 from GE\AMERICAN EAGLE. I was young and dumb with the CC and it was sent to collections. I paid the resulting collections account off and it is no longer reporting to my report. However the original GE account is reporting to my report as closed\charged off. I put in a GW request to GE and they submitted it to their customer service team for review. I then submitted a dispute with Experian and trans union. What can I expect if this account gets removed? Will my score go down as it will be a hit to my AAoA? Or will my score increase as a charge-off will be removed from my report?

 

thanks 

Senior Contributor
DaBears
Posts: 3,930
Registered: ‎10-26-2012
0

Re: Removing my oldest account??

Hi shane1120 and welcome to the forums!!! Do you know when the account was closed? or does it show a fall off date?

New Contributor
shane1120
Posts: 65
Registered: ‎07-23-2013
0

Re: Removing my oldest account??


DaBears wrote:

Hi shane1120 and welcome to the forums!!! Do you know when the account was closed? or does it show a fall off date?


it shows as follows:

 

Date Open:12/01/2004 
Last Updated:09/01/2010
Senior Contributor
DaBears
Posts: 3,930
Registered: ‎10-26-2012
0

Re: Removing my oldest account??

Paid in full charge-offs could give you a bump in score it also depends what else you have on your credit reports. The DoFD is important to know that will let me know when it will be excluded from your CR. Equifax will show the DoFD, TU and EX will have removal dates.

Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Removing my oldest account??

Your score would take a hit for removing your oldest account.  What is your next oldest one?

 

And you would gain points for it being removed so the score may even out.

 

I would always advocate a clean report over AAoA.

Senior Contributor
DaBears
Posts: 3,930
Registered: ‎10-26-2012
0

Re: Removing my oldest account??

+1 I recently took a big hit on scoring cause I cleaned up my credit reports which affected my AAoA. But now i have clean reports just a Public Record (BK 7) from 2004. Not affecting my scores.

New Contributor
shane1120
Posts: 65
Registered: ‎07-23-2013
0

Re: Removing my oldest account??


guiness56 wrote:

Your score would take a hit for removing your oldest account.  What is your next oldest one?

 

And you would gain points for it being removed so the score may even out.

 

I would always advocate a clean report over AAoA.

 

My next oldest account is a closed account in 2004 from Capital One and a Clsoed CC account from 2005.

Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Removing my oldest account??

If they are both from 2004 sometime, then the hit you take will be minimal.  Open and closed accounts factor into AAoA.


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