I am considering requesting a delete on an account that is one oldest accounts listed. It was a Chase credit card that went delinquent for several months. I ended up paying it off, it never went to collection, but I feel its worth getting deleted. Just wondering if the risk of lowering my AAoA is worth the delete.
Chase card opened 11/2005
best buy 3/2006 now in collections
student loans from 12/2005 Baddies now consolidated through the govt
wachovia 8/2005 charge off repo
first premeire 5/2006 closed by me
My credit history is not so long to begin with but I thought deleting this might do more good than having it on there.
How bad were the lates on this account ? Were they worse than 30 or 60 days late ? Also, what is your AAoA now, is it around 5 years ?
"How bad were the lates on this account ? Were they worse than 30 or 60 days late ? Also, what is your AAoA now, is it around 5 years ?"
Hey thanks for the reply. To answer your questions, It got as as bad as 120 days in order as this: [in consecutive months: (30,60,60,90,120,90)]
My AAoA is about 5.5 years. I could not find the thread to get an exact or comprehensive AAoA so I just added all the years and months(converted those months to years) and then divided by my total accounts. I got 5.45-
Do the same calculation without the account, and compare.
AAoA is only part of a 15% scoring category. Other criteria such as oldest TL and new credit are also included.
If this is also your oldest TL, that will also be affected. So lenght of credit impact could be near 15% of your total weighting.
Payment history is 35%, so weighted much higher. A 120 late is a major derog. The big factor, in my mind, would be how long ago this delinquency occured.
If relatively recent, I would suspect that its deletion would offset the loss in length of credit, but that is speculative. If old, then the lenght of credit impact might be more.
The bottom line is that account deletion is only at the perogative of the creditor. What will be your stated reason for convincing them to delete prior, accurate reporting?
Why not request deletion of only the delinquency, and not of the entire TL?